-
作者：Banerjee, Abhijit; Hanna, Rema; Kyle, Jordan; Olken, Benjamin A.; Sumarto, Sudarno
作者单位：Massachusetts Institute of Technology (MIT); Harvard University; CGIAR; International Food Policy Research Institute (IFPRI)
摘要：Redistribution programs in developing countries often leak because local officials do not implement programs as the central government intends. We study one approach to reducing leakage. In an experiment in over 550 villages, we test whether mailing cards with program information to targeted beneficiaries increases the subsidy they receive from a subsidized rice program. On net, beneficiaries received 26 percent more subsidy in card villages. Ineligible households received no less, so this rep...
-
作者：Lagakos, David; Moll, Benjamin; Porzio, Tommaso; Qian, Nancy; Schoellman, Todd
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; Centre for Economic Policy Research - UK; Northwestern University; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：This paper documents how life cycle wage growth varies across countries. We harmonize repeated cross-sectional surveys from a set of countries of all income levels and then measure how wages rise with potential experience. Our main finding is that experience-wage profiles are on average twice as steep in rich countries as in poor countries. In addition, more educated workers have steeper profiles than the less educated; this accounts for around one-third of cross-country differences in aggrega...
-
作者：Amiti, Mary; Weinstein, David E.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Columbia University; National Bureau of Economic Research
摘要：We show that supply-side financial shocks have a large impact on firms' investment. We develop a new methodology to separate firm borrowing shocks from bank supply shocks using a vast sample of matched bank-firm lending data. We decompose aggregate loan movements in Japan for the period 1990-2010 into bank, firm, industry, and common shocks. The high degree of financial institution concentration means that individual banks are large relative to the size of the economy, which creates a role for...
-
作者：Aguiar, Luis; Waldfogel, Joel
作者单位：University of Minnesota System; University of Minnesota Twin Cities; National Bureau of Economic Research
摘要：We explore the consequence of quality unpredictability for the welfare benefit of new products, using recent developments in recorded music as our context. We quantify the effects of new music on welfare using an explicit structural model of demand and entry with potentially unpredictable product quality. On the basis of plausible forecasting models of expected appeal, a tripling of the choice set according to expected quality adds substantially more consumer surplus as the usual long-tail ben...
-
作者：Kehoe, Timothy J.; Ruhl, Kim J.; Steinberg, Joseph B.
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; National Bureau of Economic Research; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of Toronto
摘要：Since the early 1990s, as the United States borrowed heavily from the rest of the world, employment in the US goods-producing sector has fallen. We construct a dynamic general equilibrium model with several mechanisms that could generate declining goods-sector employment: foreign borrowing, nonhomothetic preferences, and differential productivity growth across sectors. We find that only 15.1 percent of the decline in goods-sector employment from 1992 to 2012 stems from US trade deficits; most ...
-
作者：Bruhn, Miriam; Karlan, Dean; Schoar, Antoinette
作者单位：The World Bank; IZA Institute Labor Economics; Northwestern University; Innovations for Poverty Action (IPA); National Bureau of Economic Research; Massachusetts Institute of Technology (MIT)
摘要：A randomized control trial with 432 small and medium enterprises in Mexico shows positive impact of access to 1 year of management consulting services on total factor productivity and return on assets. Owners also had an increase in entrepreneurial spirit (an index that measures entrepreneurial confidence and goal setting). Using Mexican social security data, we find a persistent large increase (about 50 percent) in the number of employees and total wage bill even 5 years after the program. We...
-
作者：Ramey, Valerie A.; Zubairy, Sarah
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; Texas A&M University System; Texas A&M University College Station
摘要：We investigate whether US government spending multipliers are higher during periods of economic slack or when interest rates are near the zero lower bound. Using new quarterly historical US data covering multiple large wars and deep recessions, we estimate multipliers that are below unity irrespective of the amount of slack in the economy. These results are robust to two leading identification schemes, two different estimation methodologies, and many alternative specifications. In contrast, th...
-
作者：Bianchi, Javier; Mendoza, Enrique G.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; National Bureau of Economic Research; University of Pennsylvania
摘要：Collateral constraints widely used in models of financial crises feature a pecuniary externality: Agents do not internalize how borrowing decisions made in good times affect collateral prices during a crisis. We show that under commitment the optimal financial regulator's plans are time inconsistent and study time-consistent policy. Quantitatively, this policy reduces sharply the frequency and magnitude of crises, removes fat tails from the distribution of asset returns, and increases social w...
-
作者：Iaryczower, Matias; Shi, Xiaoxia; Shum, Matthew
作者单位：Princeton University; University of Wisconsin System; University of Wisconsin Madison; California Institute of Technology
摘要：We quantify the effect of deliberation on the decisions of US appellate courts. We estimate a model in which strategic judges communicate before casting their votes and then compare the probability of mistakes in the court with deliberation with a counterfactual of no communication. The model has multiple equilibria, and preferences and information parameters are only partially identified. We find that there is a range of parameters in the identified setwhen judges tend to disagree ex ante or ...
-
作者：Jehiel, Philippe; Lamy, Laurent
作者单位：Paris School of Economics; University of London; University College London; AgroParisTech
摘要：We revisit the Tiebout hypothesis in a world in which agents may learn extra information as to how they value the various local public goods once located, and jurisdictions are free to commit to whatever mechanism to attract citizens. It is shown in quasi-linear environments that efficiency can be achieved as a competitive equilibrium when jurisdictions seek to maximize local revenues but not necessarily when they seek to maximize local welfare. Interpretations and limitations of the result ar...
