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作者：Piketty, Thomas; Zucman, Gabriel
作者单位：Paris School of Economics; University of London; London School Economics & Political Science; University of California System; University of California Berkeley
摘要：How do aggregate wealth-to-income ratios evolve in the long run and why? We address this question using 1970-2010 national balance sheets recently compiled in the top eight developed economies. For the United States, United Kingdom, Germany, and France, we are able to extend our analysis as far back as 1700. We find in every country a gradual rise' of wealth-income ratios in recent decades, from about 200-300% in 1970 to 400-600% in 2010. In effect, today's ratios appear to be returning to the...
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作者：Olea, Jose Luis Montiel; Strzalecki, Tomasz
作者单位：New York University; Harvard University
摘要：This article provides an axiomatic characterization of quasi-hyperbolic discounting and a more general class of semi-hyperbolic preferences. We impose consistency restrictions directly on the intertemporal trade-offs by relying on what we call annuity compensations. Our axiomatization leads naturally to an experimental design that disentangles discounting from the elasticity of intertemporal substitution. In a pilot experiment we use the partial identification approach to estimate bounds for t...
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作者：Fryer, Roland G., Jr.
作者单位：Harvard University; National Bureau of Economic Research; Harvard University
摘要：This study examines the impact on student achievement of implementing a bundle of best practices from high-performing charter schools into low-performing, traditional public schools in Houston, Texas, using a school-level randomized field experiment and quasi-experimental comparisons. The five practices in the bundle are increased instructional time, more effective teachers and administrators, high-dosage tutoring, data-driven instruction, and a culture of high expectations. The findings show ...
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作者：Buser, Thomas; Niederle, Muriel; Oosterbeek, Hessel
作者单位：University of Amsterdam; Stanford University; National Bureau of Economic Research
摘要：Gender differences in competitiveness have been hypothesized as a potential explanation for gender differences in education and labor market outcomes. We examine the predictive power of a standard laboratory experimental measure of competitiveness for the later important choice of academic track of secondary school students in the Netherlands. Although boys and girls display similar levels of academic ability, boys choose substantially more prestigious academic tracks, where more prestigious t...
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作者：Chetty, Raj; Friedman, John N.; Leth-Petersen, Soren; Nielsen, Torben Heien; Olsen, Tore
作者单位：Harvard University; National Bureau of Economic Research; University of Copenhagen
摘要：Using 41 million observations on savings for the population of Denmark, we show that the effects of retirement savings policies on wealth accumulation depend on whether they change savings rates by active or passive choice. Subsidies for retirement accounts, which rely on individuals to take an action to raise savings, primarily induce individuals to shift assets from taxable accounts to retirement accounts. We estimate that each $1 of government expenditure on subsidies increases total saving...
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作者：Allen, Treb; Arkolakis, Costas
作者单位：National Bureau of Economic Research; Yale University
摘要：We develop a general equilibrium framework to determine the spatial distribution of economic activity on any surface with (nearly) any geography. Combining the gravity structure of trade with labor mobility, we provide conditions for the existence, uniqueness, and stability of a spatial economic equilibrium and derive a simple set of equations that govern the relationship between economic activity and the geography of the surface. We then use the framework to estimate the topography of trade c...
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作者：Hanna, Rema; Mullainathan, Sendhil; Schwartzstein, Joshua
作者单位：Harvard University; National Bureau of Economic Research; Dartmouth College
摘要：We consider a model of technological learning under which people learn through noticing: they choose which input dimensions to attend to and subsequently learn about from available data. Using this model, we show how people with a great deal of experience may persistently be off the production frontier because they fail to notice important features of the data they possess. We also develop predictions on when these learning failures are likely to occur, as well as on the types of interventions...
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作者：Gennaioli, Nicola; Shleifer, Andrei; Vishny, Robert
作者单位：Bocconi University; Harvard University; University of Chicago
摘要：We introduce the model of asset management developed in Gennaioli, Shleifer, and Vishny (Money Doctors, Journal of Finance, forthcoming 2015) into a Solow-style neoclassical growth model with diminishing returns to capital. Savers rely on trusted intermediaries to manage their wealth (claims on capital stock), who can charge fees above costs to trusting investors. In this model, the ratio of financial income to GDP increases with the ratio of aggregate wealth to GDP. Both rise along the conver...
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作者：Caron, Justin; Fally, Thibault; Markusen, James R.
作者单位：Massachusetts Institute of Technology (MIT); Swiss Federal Institutes of Technology Domain; ETH Zurich; University of California System; University of California Berkeley; University of Colorado System; University of Colorado Boulder
摘要：International trade literature tends to focus heavily on the production side of general equilibrium, leaving us with a number of empirical puzzles. There is, for example, considerably less world trade than predicted by Heckscher-Ohlin-Vanek (HOV) models. Trade among rich countries is higher and trade between rich and poor countries lower than suggested by HOV and other supply-driven theories, and trade-to-GDP ratios are higher in rich countries. Our approach focuses on the relationship between...
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作者：Hsieh, Chang-Tai; Klenow, Peter J.
作者单位：University of Chicago; National Bureau of Economic Research; Stanford University
摘要：In the United States, the average 40-year-old plant employs more than seven times as many workers as the typical plant 5 years or younger. In contrast, surviving plants in India and Mexico exhibit much slower growth, roughly doubling in size over the same age range. The divergence in plant dynamics suggests lower investments by Indian and Mexican plants in process efficiency, quality, and in accessing markets at home and abroad. In simple general equilibrium models, we find that the difference...
