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作者：Acemoglu, D; Zilibotti, F
作者单位：Massachusetts Institute of Technology (MIT)
摘要：Many technologies used by the LDCs are developed in the OECD economies and are designed to make optimal use of the skills of these richer countries' workforces. Differences in the supply of skills create a mismatch between the requirements of these technologies and the skills of LDC workers, and lead to low productivity in the LDCs. Even when all countries have equal access to new technologies, this technology-skill mismatch can lead to sizable differences in total factor productivity and outp...
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作者：Lazear, EP
作者单位：Stanford University; Stanford University
摘要：Classroom education has public good aspects. The technology is such that when one student disrupts the class, learning is reduced for all other students. A disruption model of educational production is presented. It is shown that optimal class size is larger for better-behaved students, which helps explain why it is difficult to find class size effects in the data. Additionally, the role of discipline is analyzed and applied to differences in performance of Catholic and public schools. An empi...
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作者：Barberis, N; Huang, M; Santos, T
作者单位：University of Chicago; National Bureau of Economic Research; Stanford University
摘要：We study asset prices in an economy where investors derive direct utility not only from consumption but also from fluctuations in the value of their financial wealth. They are loss averse over these fluctuations, and the degree of loss aversion depends on their prior investment performance. We find that our framework can help explain the high mean, excess volatility, and predictability of stock returns, as well as their low correlation with consumption growth. The design of our model is influe...
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作者：Madrian, BC; Shea, DF
作者单位：University of Chicago
摘要：This paper analyzes the impact of automatic enrollment on 401(k) savings behavior. We have two key findings. First, 401(k) participation is significantly higher under automatic enrollment. Second, a substantial fraction of 401(k) participants hired under automatic enrollment retain both the default contribution rate and fund allocation even though few employees hired before automatic enrollment picked this particular outcome. This default behavior appears to result from participant inertia and...
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作者：O'Donoghue, T; Rabin, M
作者单位：Cornell University; University of California System; University of California Berkeley
摘要：Recent models of procrastination due to self-control problems assume that a procrastinator considers just one option and is unaware of her self-control problems. We develop a model where a person chooses from a menu of options and is partially aware of her self-control problems. This menu model replicates earlier results and generates new ones. A person might forgo completing an attractive option because she plans to complete a more attractive but never-to-be-completed option. Hence, providing...
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作者：Rajan, RG; Zingales, L
作者单位：University of Chicago; National Bureau of Economic Research
摘要：In the formative stages of their businesses, entrepreneurs have to provide incentives for employees to protect, rather than steal, the source of organizational rents. We study how the entrepreneur's response to this problem determines the organization's internal structure, growth, and its eventual size. Large, steep hierarchies will predominate in physical-capital-intensive industries, and will have seniority-based promotion policies. By contrast, flat hierarchies will prevail in human-capital...
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作者：Meyer, BD; Rosenbaum, DT
作者单位：Northwestern University; Northwestern University; University of North Carolina; University of North Carolina Greensboro; University of North Carolina; University of North Carolina Greensboro; National Bureau of Economic Research
摘要：During 1984-1996, welfare and tax policy were changed to encourage work by single mothers. The Earned Income Tax Credit was expanded, welfare benefits were cut, welfare time limits were added, and welfare cases were terminated. Medicaid for the working poor was expanded, as were training programs and child care. During this same time period there were unprecedented increases in the employment and hours of single mothers. We show that a large share of the increase in work by single mothers can ...
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作者：Shimer, R
作者单位：Princeton University; National Bureau of Economic Research
摘要：An increase in the share of youth in the working age population of one state or region relative to the rest of the United States causes a sharp reduction in that state's relative unemployment rate and a modest increase in its labor force participation rate. This is inconsistent with many theories of the labor market, but can be easily explained by a model of frictional unemployment with on-the-job search. The theory makes strong predictions regarding the behavior of wages which are shown to be...
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作者：Caplin, A; Leahy, J
作者单位：New York University; Boston University
摘要：We extend expected utility theory to situations in which agents experience feelings of anticipation prior to the resolution of uncertainty. We show how these anticipatory feelings may result in time inconsistency. We provide an example from portfolio theory to illustrate the potential impact of anticipation on asset prices.
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作者：Caroli, E; Van Reenen, J
作者单位：INRAE; University of London; University College London
摘要：This paper investigates the determination and consequences of organizational changes (OC) in a panel of British and French establishments. Organizational changes include the decentralization of authority, delayering of managerial functions, and increased multitasking. We argue that OC and skills are complements. We offer support for the hypothesis of skill-biased organizational change with three empirical findings. First, organizational changes reduce the demand for unskilled workers in both c...
