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作者：Gelber, Alexander; Moore, Timothy; Pei, Zhuan; Strand, Alexander
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; Purdue University System; Purdue University; Cornell University; IZA Institute Labor Economics
摘要：We show that higher payments from US Social Security Disability Insurance (DI) reduce mortality. Using administrative data on new DI beneficiaries, we exploit discontinuities in the benefit formula through a regression kink design. We estimate that $1,000 more in annual DI payments decreases the annual mortality rate of lower-income beneficiaries by approximately 0.18-0.35 percentage points, implying an elasticity of mortality with respect to DI income of around -0.6 to -1.0. We find no robust...
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作者：Fleurbaey, Marc; Ponthiere, Gregory
作者单位：Paris School of Economics; Centre National de la Recherche Scientifique (CNRS); Universite PSL; Ecole Normale Superieure (ENS)
摘要：The stakeholder (or responsible) firm maximizes the (weighted or unweighted) sum of the surpluses of its customers and suppliers (including workers). Although this objective is hard to empirically measure, it can be pursued by simple management rules that rely on constrained profit maximization. Unconstrained profit maximization gives a competitive edge to ordinary firms, but stakeholder firms are better for social welfare and internalize several important effects of their activities on societ...
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作者：Gualdani, Cristina; Sinha, Shruti
作者单位：University of London; Queen Mary University London; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：We study partial identification of the preference parameters in the one-to-one matching model with perfectly transferable utilities. We do so without imposing parametric distributional assumptions on the unobserved heterogeneity and with data on one large market. We provide a tractable characterization of the identified set under various classes of nonparametric distributional assumptions on the unobserved heterogeneity. We reexamine some of the relevant questions in the empirical literature o...
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作者：Lindenlaub, Ilse; Postel-Vinay, Fabien
作者单位：Yale University; National Bureau of Economic Research; University of London; University College London; University of London; London School Economics & Political Science
摘要：We analyze sorting in a frictional labor market when workers and jobs have multidimensional characteristics. We say that matching is positive assortative in dimension (j, k) if workers with higher endowment in skill k are matched to a job distribution with higher values of attribute j in the first-order stochastic dominance sense. Crucial for sorting is a single-crossing property of technology. Sorting is positive between worker-job attributes with strong complementarities but negative in othe...
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作者：Adhvaryu, Achyuta; Kala, Namrata; Nyshadham, Anant
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; University of California System; University of California San Diego; Massachusetts Institute of Technology (MIT); Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of Michigan System; University of Michigan
摘要：We estimate productivity gains of 13.5% from workplace soft skills training among Indian garment workers. Productivity gains are greater when trainees work on joint operations alongside other coworkers, consistent with gains being driven by improved teamwork and collaboration. Furthermore, untreated coworkers on the treated production lines also show increased productivity. These improvements in the teamwork substitute for managerial attention. Despite productivity gains and higher promotion p...
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作者：Edmond, Chris; Midrigan, Virgiliu; Xu, Daniel Yi
作者单位：University of Melbourne; New York University; National Bureau of Economic Research; Duke University; National Bureau of Economic Research
摘要：We study the welfare costs of markups in a dynamic model with heterogeneous firms and endogenous markups. We provide aggregation results summarizing the macro implications of micro-level markup heterogeneity. We calibrate our model to US Census of Manufactures data and find that the costs of markups can be large. We decompose the costs into three channels: an aggregate markup that acts like a uniform output tax, misallocation of factors of production, and inefficient entry. We find that the ag...
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作者：Haghpanah, Nima; Siegel, Ron
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：We investigate whether a market served by a multiproduct monopolistic seller can be segmented in a way that benefits all consumers and the seller. The seller can offer a different product menu in each market segment, combining second- and third-degree price discrimination. We show that markets for which profit maximization leads to inefficiency can, generically, be segmented into two market segments in a way that increases the surplus of all consumers weakly and of some consumers and the selle...
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作者：Chen, Yi-Chun; Holden, Richard; Kunimoto, Takashi; Sun, Yifei; Wilkening, Tom
作者单位：National University of Singapore; University of New South Wales Sydney; Singapore Management University; University of International Business & Economics; University of Melbourne
摘要：We develop a new class of two-stage mechanisms, which fully implement any social choice function under initial rationalizability in complete information environments. We show theoretically that our simultaneous report (SR) mechanisms are robust to small amounts of incomplete information about the state of nature. We also highlight the robustness of the mechanisms to a wide variety of reasoning processes and behavioral assumptions. We show experimentally that an SR mechanism performs well in in...
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作者：Meyer, Bruce D. D.; Sullivan, James X. X.
作者单位：University of Chicago; National Bureau of Economic Research; American Enterprise Institute for Public Policy Research; University of Notre Dame
摘要：Recent research concludes that the rise in consumption inequality mirrors, or even exceeds, the rise in income inequality. We revisit this finding, constructing improved measures of consumption, focusing on its well-measured components that are reported at a high and stable rate relative to national accounts. While overall income inequality rose over the past 5 decades, the rise in overall consumption inequality was small. The declining quality of income data likely contributes to these differ...
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作者：Chiu, Jonathan; Davoodalhosseini, Seyed Mohammadreza; Jiang, Janet; Zhu, Yu
作者单位：Bank of Canada; Renmin University of China
摘要：This paper develops a micro-founded general equilibrium model of payments to study the impact of a central bank digital currency (CBDC) on intermediation of private banks. If banks have market power in the deposit market, a CBDC can enhance competition, raising the deposit rate, expanding intermediation, and increasing output. A calibration to the US economy suggests that a CBDC can raise bank lending by 1.57% and output by 0.19%. These crowding-in effects remain robust, albeit with smaller ma...
