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作者：Makris, Miltiadis; Pavan, Alessandro
作者单位：University of Kent; Northwestern University
摘要：We study optimal income taxation when workers' productivity is stochastic and evolves endogenously because of learning by doing. Learning by doing calls for higher wedges and alters the relation between wedges and tax rates. In a calibrated model, we find that reforming the US tax code brings significant welfare gains and that a simple tax code invariant to past incomes is approximately optimal. We isolate the role of learning by doing by comparing the aforementioned tax code to its counterpar...
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作者：Costa, Francisco; Gerard, Francois
作者单位：University of Delaware; University of London; Queen Mary University London
摘要：This paper provides stark evidence of hysteresis-the failure of an effect to reverse itself as its underlying cause is reversed-in energy demand. We estimate that half of the 23% reduction in residential electricity use caused by a 9-month-long policy that was imposed on millions of Brazilians has persisted for at least 12 years. We examine the implications of our finding by extending the traditional welfare analysis of corrective policies to allow for hysteresis. Our estimate highlights that ...
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作者：Somanathan, E.; Somanathan, Rohini; Sudarshan, Anant; Tewari, Meenu
作者单位：Indian Statistical Institute; Indian Statistical Institute Delhi; Delhi School of Economics; University of Chicago; University of North Carolina; University of North Carolina Chapel Hill
摘要：Hotter years are associated with lower economic output in developing countries. We show that the effect of temperature on labor is an important part of the explanation. Using microdata from selected firms in India, we estimate reduced worker productivity and increased absenteeism on hot days. Climate control significantly mitigates productivity losses. In a national panel of Indian factories, annual plant output falls by about 2% per degree Celsius. This response appears to be driven by a redu...
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作者：Alos-Ferrer, Carlos; Fehr, Ernst; Netzer, Nick
作者单位：University of Zurich
摘要：When choice is stochastic, revealed preference analysis often relies on random utility models. However, it is impossible to infer preferences without assumptions on the distribution of utility noise. We show that this difficulty can be overcome by using response time data. A simple condition on response time distributions ensures that choices reveal preferences without distributional assumptions. Standard models from economics and psychology generate data fulfilling this condition. Sharper res...
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作者：Giannetti, Mariassunta; Serrano-Velarde, Nicolas; Tarantino, Emanuele
作者单位：Stockholm School of Economics; European Corporate Governance Institute; Bocconi University; Luiss Guido Carli University; Center for Economic & Policy Research (CEPR)
摘要：We conjecture that suppliers offer trade credit to ease competition in downstream markets. We show theoretically that suppliers that have to transfer surplus to high-bargaining-power customers would want to offer an increasing price schedule to preserve sales to other buyers. Suppliers can implement this using trade credit. Empirically, we find that suppliers grant trade credit to high-bargaining-power customers when they fear the cannibalization of sales to other customers. Exploiting a law t...
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作者：Cerigioni, Francesco
作者单位：Pompeu Fabra University
摘要：Evidence from the cognitive sciences suggests that some choices are conscious and reflect individual volition, while others tend to be automatic. Under these circumstances, standard economic modeling might not always be applicable because not all choices are the result of individual tastes. We propose a behavioral model that can be used in standard economic analysis that formalizes the way in which conscious and automatic choices arise. We then present a novel method capable of identifying a s...
