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作者：Chetty, Raj; Friedman, John N.; Olsen, Tore; Pistaferri, Luigi
作者单位：Harvard University; National Bureau of Economic Research; Stanford University
摘要：We show that the effects of taxes on labor supply are shaped by interactions between adjustment costs for workers and hours constraints set by firms. We develop a model in which firms post job offers characterized by an hours requirement and workers pay search costs to find jobs. We present evidence supporting three predictions of this model by analyzing bunching at kinks using Danish tax records. First, larger kinks generate larger taxable income elasticities. Second, kinks that apply to a la...
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作者：Alvarez, Fernando E.; Lippi, Francesco; Paciello, Luigi
作者单位：University of Chicago; National Bureau of Economic Research; University of Sassari
摘要：We study the price-setting problem of a firm in the presence of both observation and menu costs. The firm optimally decides when to review costly information on the adequacy of its price. Upon each review, the firm chooses whether to adjust its price, one or more times, before the next price review. Each price adjustment entails paying a menu cost. The firm's choices map into several statistics: the frequency of price reviews, the frequency of price adjustments, the size distribution of price ...
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作者：Antras, Pol; Costinot, Arnaud
作者单位：Harvard University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT)
摘要：This paper develops a simple model of international trade with intermediation. We consider an economy with two islands and two types of agents, farmers and traders. Farmers can produce two goods, but to sell these goods in centralized (Walrasian) markets, they need to be matched with a trader, and this entails costly search. In the absence of search frictions, our model reduces to a standard Ricardian model of trade. We use this simple model to contrast the implications of changes in the integ...
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作者：Matsa, David A.
作者单位：Northwestern University
摘要：This article analyzes the effect of competition on a supermarket firm's incentive to provide product quality. In the supermarket industry, product availability is an important measure of quality. Using U.S. Consumer Price Index microdata to track inventory shortfalls, I find that stores facing more intense competition have fewer shortfalls. Competition from Walmart-the most significant shock to industry market structure in half a century-decreased shortfalls among large chains by about a third...
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作者：Diamond, Douglas W.; Rajan, Raghuram G.
作者单位：University of Chicago; National Bureau of Economic Research
摘要：Is there any need to clean up a banking system by closing some banks and forcing others to sell assets if the risk of a crisis becomes high? Impaired banks that may be forced to sell illiquid assets in the future have private incentives to hold, rather than sell, those assets Anticipating a potential fire sale, liquid buyers expect high returns, reducing their incentive to lend. Privately optimal trading decisions therefore lead to a worse fire sale and a larger drop in lending than is necessa...
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作者：Benabou, Roland; Tirole, Jean
作者单位：Princeton University; National Bureau of Economic Research; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：We develop a theory of moral behavior, individual and collective, based on a general model of identity in which people care about who they are and infer their own values from past choices. The model sheds light on many empirical puzzles inconsistent with earlier approaches. Identity investments respond nonmonotonically to acts or threats, and taboos on mere thoughts arise to protect beliefs about the priceless value of certain social assets. High endowments trigger escalating commitment and a ...
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作者：Nunn, Nathan; Qian, Nancy
作者单位：Harvard University; National Bureau of Economic Research; Yale University
摘要：We exploit regional variation in suitability for cultivating potatoes, together with time variation arising from their introduction to the Old World from the Americas, to estimate the impact of potatoes on Old World population and urbanization. Our results show that the introduction of the potato was responsible for a significant portion of the increase in population and urbanization observed during the eighteenth and nineteenth centuries. According to our most conservative estimates, the intr...
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作者：Gentzkow, Matthew; Shapiro, Jesse M.
作者单位：National Bureau of Economic Research
摘要：We use individual and aggregate data to ask how the Internet is changing the ideological segregation of the American electorate. Focusing on online news consumption, offline news consumption, and face-to-face social interactions, we define ideological segregation in each domain using standard indices from the literature on racial segregation. We find that ideological segregation of online news consumption is low in absolute terms, higher than the segregation of most offline news consumption, a...
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作者：Jayachandran, Seema; Kuziemko, Ilyana
作者单位：Northwestern University; National Bureau of Economic Research; Princeton University
摘要：Breastfeeding is negatively correlated with future fertility because nursing temporarily reduces fecundity and because mothers usually wean on becoming pregnant again. We model breastfeeding under son-biased fertility preferences and show that breastfeeding duration increases with birth order, especially near target family size; is lowest for daughters and children without older brothers because their parents try again for a son; and exhibits the largest gender gap near target family size, whe...
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作者：Barro, Robert J.; Redlick, Charles J.
作者单位：Harvard University
摘要：For U.S. annual data that include World War II, the estimated multiplier for temporary defense spending is 0.4-0.5 contemporaneously and 0.6-0.7 over 2 years. If the change in defense spending is permanent (gauged by Ramey's defense news variable), the multipliers are higher by 0.1-0.2. Since all estimated multipliers are significantly less than 1, greater spending crowds out other components of GDP, particularly investment. The lack of good instruments prevents estimation of reliable multipli...
