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作者：Bernard, Benjamin; Capponi, Agostino; Stiglitz, Joseph E.
作者单位：National Taiwan University
摘要：This paper endogenizes intervention in financial crises as the strategic negotiation between a regulator and creditors of distressed banks. Incentives for banks to contribute to a voluntary bail-in arise from their exposure to financial contagion. In equilibrium, a bail-in is possible only if the regulator's threat to not bail out insolvent banks is credible. Contrary to models without intervention or with government bailouts only, sparse networks enhance welfare for two main reasons: they imp...
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作者：Bernard, Andrew B.; Dhyne, Emmanuel; Magerman, Glenn; Manova, Kalina; Moxnes, Andreas
作者单位：Dartmouth College; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; European Central Bank; National Bank of Belgium; University of Mons; Universite Libre de Bruxelles; European Central Bank; National Bank of Belgium; University of London; University College London; University of Oslo
摘要：We explore firm size heterogeneity in production networks. In comprehensive data for Belgium, firms with more customers have higher total sales but lower sales and lower market shares per customer. Downstream factors, especially the number of customers, explain the vast majority of firm size dispersion. We rationalize these facts with a model of network formation and two-dimensional firm heterogeneity. Higher productivity generates more matches and larger market shares among customers. Higher ...
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作者：Bau, Natalie
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; Centre for Economic Policy Research - UK
摘要：The quality of the match between students and schools affects learning, but little is known about the magnitude of these effects or how they respond to changes in market structure. I develop a quantitative equilibrium model of school competition with horizontal competition in match quality. I estimate the model using data from Pakistan, a country with high private enrollment, and (1) quantify the importance of good matches, (2) show that profit-maximizing private schools' choices of quality ad...
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作者：Beach, Brian; Brown, Ryan; Ferrie, Joseph; Saavedra, Martin; Thomas, Duncan
作者单位：Vanderbilt University; National Bureau of Economic Research; Children's Hospital Colorado; University of Colorado System; University of Colorado Anschutz Medical Campus; University of Colorado Denver; Northwestern University; University System of Ohio; Oberlin College; National Bureau of Economic Research; Duke University
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作者：Arque-Castells, Pere; Spulber, Daniel F.
作者单位：University of Groningen; Northwestern University
摘要：The canonical approach to measuring private and social returns to R&D assumes diffusion through spillovers. We develop a general framework that allows R&D to diffuse through both spillovers and voluntary technology transfers. To operationalize the framework, we create a data set of interactions in the market for technology between publicly held US firms. We use changes in tax incentives for R&D to identify causal effects. Taking market channels into account decreases the observed difference be...
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作者：Bald, Anthony; Chyn, Eric; Hastings, Justine; Machelett, Margarita
作者单位：Harvard University; Dartmouth College; National Bureau of Economic Research; University of Washington; University of Washington Seattle; Banco de Espana
摘要：This paper measures impacts of removing children from families investigated for abuse or neglect. We use removal tendencies of child protection investigators as an instrument. Our analysis focuses on young children investigated before age 6 and finds that removal significantly increases test scores and reduces grade repetition for girls. There are no detectable impacts for boys. This pattern of results does not appear to be driven by heterogeneity in preremoval characteristics, foster placemen...
