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作者：Jaimovich, Nir; Rebelo, Sergio
作者单位：University of Southern California; National Bureau of Economic Research; Northwestern University; Center for Economic & Policy Research (CEPR)
摘要：We propose a model consistent with two observations. First, the tax rates adopted by different countries are generally uncorrelated with their growth performance. Second, countries that drastically reduce private incentives to invest severely hurt their growth performance. In our model, the effects of taxation on growth are highly nonlinear. Low tax rates have a very small impact on long-run growth rates. But as tax rates rise, their negative impact on growth rises dramatically. The median vot...
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作者：Grossman, Gene M.; Helpman, Elhanan; Kircher, Philipp
作者单位：Princeton University; Harvard University; Canadian Institute for Advanced Research (CIFAR); European University Institute; University of Edinburgh
摘要：We study the distributional consequences of trade in a world with two industries and two heterogeneous factors of production. Productivity in each production unit reflects the ability of the manager and the abilities of the workers, with complementarity between the two. We begin by examining the forces that govern the sorting of worker and manager types to industries and the matching of workers and managers within industries. We then consider how changes in relative output prices generated by ...
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作者：Favilukis, Jack; Ludvigson, Sydney C.; Van Nieuwerburgh, Stijn
作者单位：University of British Columbia; New York University; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR)
摘要：This paper studies a quantitative general equilibrium model of housing. The model has two key elements not previously considered in existing quantitative macro studies of housing finance: aggregate business cycle risk and a realistic wealth distribution driven in the model by bequest heterogeneity in preferences. These features of the model play a crucial role in the following results. First, a relaxation of financing constraints leads to a large boomin house prices. Second, the boom in house ...
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作者：Agranov, Marina; Ortoleva, Pietro
作者单位：California Institute of Technology; Columbia University
摘要：We conduct an experiment in which subjects face the same questions repeated multiple times, with repetitions of two types: (1) following the literature, the repetitions are distant from each other; (2) in a novel treatment, the repetitions are in a row, and subjects are told that the questions will be repeated. We find that a large majority of subjects exhibit stochastic choice in both cases. We discuss the implications for models of stochastic choice.
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作者：Clemens, Jeffrey; Gottlieb, Joshua D.
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; University of British Columbia
摘要：We analyze Medicare's influence on private insurers' payments for physicians' services. Using a large administrative change in reimbursements for surgical versus medical care, we find that private prices follow Medicare's lead. A $1.00 increase in Medicare's fees increases corresponding private prices by $1.16. A second set of Medicare fee changes, which generates area-specific payment shocks, has a similar effect on private reimbursements. Medicare's influence is strongest in areas with conce...
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作者：Ashlagi, Itai; Kanoria, Yash; Leshno, Jacob D.
作者单位：Stanford University; Columbia University
摘要：We study competition in matching markets with random heterogeneous preferences and an unequal number of agents on either side. First, we show that even the slightest imbalance yields an essentially unique stable matching. Second, we give a tight description of stable outcomes, showing that matching markets are extremely competitive. Each agent on the short side of the market is matched with one of his top choices, and each agent on the long side either is unmatched or does almost no better tha...
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作者：Chen, Yan; Kesten, Onur
作者单位：University of Michigan System; University of Michigan; Tsinghua University; Carnegie Mellon University
摘要：Each year approximately 10 million high school seniors in China compete for 6 million seats through a centralized college admissions system. Within the last decade, many provinces have transitioned from a sequential to a parallel mechanism to make their admissions decisions. In this study, we characterize a parametric family of application-rejection assignment mechanisms, including the sequential, deferred acceptance, and parallel mechanisms in a nested framework. We show that all of the provi...
