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作者：Halac, Marina; Kartik, Navin; Liu, Qingmin
作者单位：Columbia University; University of Warwick
摘要：We study contests for innovation with learning about the innovation's feasibility and opponents' outcomes. We characterize contests that maximize innovation when the designer chooses a prize-sharing scheme and a disclosure policy. A public winner-takes-all contest dominates public contestswhere any success is immediately disclosedwith any other prize-sharing scheme as well as winner-takes-all contests with any other disclosure policy. Yet, jointly modifying prize sharing and disclosure can inc...
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作者：Mas, Alexandre
作者单位：Princeton University; Princeton University; National Bureau of Economic Research
摘要：This paper asks whether pay disclosure in the public sector changes wage setting at the top of the distribution. I examine a 2010 California mandate that required municipal salaries to be posted online. Among top managers, disclosure led to approximately 7 percent average compensation declines, and a 75 percent increase in their quit rate, relative to managers in cities that had already disclosed salaries. The wage cuts were largely nominal. Wage cuts were larger in cities with higher initial ...
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作者：Cho, SungJin; Rust, John
作者单位：Seoul National University (SNU); Georgetown University
摘要：We analyze high-frequency micro panel data on customers of a major Korean credit card company before and after the 2003 Korean credit crisis and find evidence of pervasive precommitment behavior that is difficult to explain using standard economic theories: (1) customers voluntarily reduce their credit card borrowing limits without any compensation, (2) customers turn down interest-free installment loan offers with high probability, and (3) of the small fraction of customers who do accept inte...
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作者：Azmat, Ghazala; Ferrer, Rosa
作者单位：Centre for Economic Policy Research - UK; University of London; Queen Mary University London; University of London; Queen Mary University London; Pompeu Fabra University; Pompeu Fabra University; Centre for Economic Policy Research - UK
摘要：This paper documents the gender gap in performance among high-skilled professionals in the United States. On the basis of widely used performance measures in law firms, we find that male lawyers bill 10 percent more hours and bring in more than twice as much new client revenue as female lawyers. The differential impact across genders in the presence of young children and differences in aspirations to become a law firm partner account for a large share of the difference in performance. We show ...
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作者：Darden, Michael
作者单位：George Washington University
摘要：I estimate a dynamic, stochastic model of smoking, expectations, and health that makes explicit channels through which an individual may learn about the health risks of smoking. Simulations of the structural model suggest that cardiovascular biomarker information at repeated health exams does not significantly alter smoking behavior because (a) signals of biomarker health are noisy within individuals, (b) the influence of biomarkers on major health outcomes is small, and (c) cigarette smoking ...
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作者：Burstein, Ariel; Vogel, Jonathan
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research
摘要：What are the consequences of international trade on the skill premium? We incorporate skill-intensity differences across firms and sectors into a standard model of international trade. Reductions in trade costs reallocate factors toward a country's comparative advantage sectors, increasing the skill premium in countries with a comparative advantage in skill-intensive sectors and decreasing it elsewhere. Reductions in trade costs also reallocate factors toward more productive and skill-intensiv...
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作者：Lockwood, Benjamin B.; Nathanson, Charles G.; Weyl, E. Glen
作者单位：University of Pennsylvania; Northwestern University; Microsoft; Yale University
摘要：Taxation affects the allocation of talented individuals across professions by blunting material incentives and thus magnifying nonpecuniary incentives of pursuing a calling. Estimates from the literature suggest that high-paying professions have negative externalities, whereas low-paying professions have positive externalities. A calibrated model therefore prescribes negative marginal tax rates on middle-class incomes and positive rates on the rich. The welfare gains from implementing such a p...
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作者：Kim, Seong-Hoon; Moon, Seongman; Velasco, Carlos
作者单位：Yonsei University; Jeonbuk National University; Universidad Carlos III de Madrid
摘要：We reinvestigate the delayed overshooting puzzle. Using a method of sign restrictions, we find that delayed overshooting is primarily a phenomenon of the 1980s when the Fed was under the chairmanship of Paul Volcker. Related findings are as follows: (1) Uncovered interest parity fails to hold during the Volcker era and tends to hold during the post-Volcker era; (2) US monetary policy shocks have substantial impacts on exchange rate variations but misleadingly appear to have small impacts when ...
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作者：Kurz, Sascha; Maaser, Nicola; Napel, Stefan
作者单位：University of Bayreuth; University of Bremen
摘要：Which voting weights ought to be allocated to single delegates of differently sized groups from a democratic fairness perspective? We operationalize the one person, one vote principle by demanding every individual's influence on collective decisions to be equal a priori. The analysis differs from previous ones by considering intervals of alternatives. New reasons lead to an old conclusion: weights should be proportional to the square root of constituency sizes if voter preferences are independ...
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作者：Acemoglu, Daron; Robinson, James A.; Verdier, Thierry
作者单位：Massachusetts Institute of Technology (MIT); University of Chicago; Paris School of Economics; Institut Polytechnique de Paris; Ecole des Ponts ParisTech; Pontificia Universidade Catolica do Rio de Janeiro
摘要：We present a model of technologically interconnected countries that benefit and potentially contribute to advances in the world technology frontier. Greater inequality between successful and unsuccessful entrepreneurs increases entrepreneurial effort and a country's contribution to that frontier. Under plausible assumptions, the world equilibrium is asymmetric, involving different economic institutions and technology levels for different countries. Some countries become technology leaders and ...
