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作者：Madestam, Andreas; Shoag, Daniel; Veuger, Stan; Yanagizawa-Drott, David
作者单位：Stockholm University; Harvard University
摘要：Can protests cause political change, or are they merely symptoms of underlying shifts in policy preferences? We address this question by studying the Tea Party movement in the United States, which rose to prominence through coordinated rallies across the country on Tax Day, April 15, 2009. We exploit variation in rainfall on the day of these rallies as an exogenous source of variation in attendance. We show that good weather at this initial, coordinating event had significant consequences for ...
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作者：Avery, Christopher N.; Glickman, Mark E.; Hoxby, Caroline M.; Metrick, Andrew
作者单位：Boston University; Stanford University
摘要：We present a method of ranking U.S. undergraduate programs based on students' revealed preferences. When a student chooses a college among those that have admitted him, that college wins his tournament. Our method efficiently integrates the information from thousands of such tournaments. We implement the method using data from a national sample of high-achieving students. We demonstrate that this ranking method has strong theoretical properties, eliminating incentives for colleges to adopt str...
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作者：Simsek, Alp
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：I investigate the effect of financial innovation on portfolio risks when traders have belief disagreements. I decompose traders' average portfolio risks into two components: the uninsurable variance, defined as portfolio risks that would obtain without belief disagreements, and the speculative variance, defined as portfolio risks that result from speculation. My main result shows that financial innovation always increases the speculative variance through two distinct channels: by generating ne...
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作者：Gennaioli, Nicola; La Porta, Rafael; Lopez-de-Silanes, Florencio; Shleifer, Andrei
作者单位：Bocconi University; Dartmouth College; Harvard University
摘要：We investigate the determinants of regional development using a newly constructed database of 1,569 subnational regions from 110 countries covering 74% of the world's surface and 97% of its GDP. We combine the cross-regional analysis of geographic, institutional, cultural, and human capital determinants of regional development with an examination of productivity in several thousand establishments located in these regions. To organize the discussion, we present a new model of regional developme...
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作者：Koszegi, Botond; Szeidl, Adam
作者单位：Central European University; University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：We present a generally applicable theory of focusing based on the hypothesis that a person focuses more on, and hence overweights, attributes in which her options differ more. Our model predicts that the decision maker is too prone to choose options with concentrated advantages relative to alternatives, but maximizes utility when the advantages and disadvantages of alternatives are equally concentrated. Applying our model to intertemporal choice, these results predict that a person exhibits pr...
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作者：Burchardi, Konrad B.; Hassan, Tarek A.
作者单位：University of Chicago; National Bureau of Economic Research
摘要：We use the fall of the Berlin Wall in 1989 to show that personal relationships which individuals maintain for noneconomic reasons can be an important determinant of regional economic growth. We show that West German households who had social ties to East Germany in 1989 experienced a persistent rise in their personal incomes after the fall of the Berlin Wall. Moreover, the presence of these households significantly affects economic performance at the regional level: it increases the returns to...
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作者：Davis, Steven J.; Faberman, R. Jason; Haltiwanger, John C.
作者单位：University of Chicago; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Chicago; University System of Maryland; University of Maryland College Park
摘要：This paper is the first to study vacancies, hires, and vacancy yields at the establishment level in the Job Openings and Labor Turnover Survey, a large sample of US employers. To interpret the data, we develop a simple model that identifies the flow of new vacancies and the job-filling rate for vacant positions. The fill rate moves counter to aggregate employment but rises steeply with employer growth rates in the cross section. It falls with employer size, rises with worker turnover rates, an...
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作者：Kroft, Kory; Lange, Fabian; Notowidigdo, Matthew J.
作者单位：University of Toronto; McGill University; University of Chicago; National Bureau of Economic Research
摘要：This article studies the role of employer behavior in generating negative duration dependence-the adverse effect of a longer unemployment spell-by sending fictitious resumes to real job postings in 100 U.S. cities. Our results indicate that the likelihood of receiving a callback for an interview significantly decreases with the length of a worker's unemployment spell, with the majority of this decline occurring during the first eight months. We explore how this effect varies with local labor m...
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作者：Kleven, Henrik J.; Waseem, Mazhar
作者单位：University of London; London School Economics & Political Science
摘要：We develop a framework for nonparametrically identifying optimization frictions and structural elasticities using notches-discontinuities in the choice sets of agents-introduced by tax and transfer policies. Notches create excess bunching on the low-tax side and missing mass on the high-tax side of a cutoff, and they are often associated with a region of strictly dominated choice that would have zero mass in a frictionless world. By combining excess bunching (observed response attenuated by fr...
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作者：Harris, Christopher; Laibson, David
作者单位：University of Cambridge; Harvard University; National Bureau of Economic Research
摘要：Extending Barro (1999) and Luttmer and Mariotti (2003), we introduce a new model of time preferences: the instantaneous-gratification model. This model applies tractably to a much wider range of settings than existing models. It applies to both complete- and incomplete-market settings and it works with generic utility functions. It works in settings with linear policy rules and in settings in which equilibrium cannot be supported by linear rules. The instantaneous-gratification model also gene...
