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作者：Ramondo, Natalia; Rodriguez-Clare, Andres
作者单位：Arizona State University; Arizona State University-Tempe; University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：This paper quantifies the gains from openness arising from trade and multinational production (MP). We present a model that captures key dimensions of the interaction between these two flows: trade and MP are competing ways to serve a foreign market, MP relies on imports of intermediate goods from the home country, and foreign affiliates of multinationals can export part of their output. The calibrated model implies that the gains from trade can be twice as high as the gains calculated in trad...
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作者：Gurdal, Mehmet Y.; Miller, Joshua B.; Rustichini, Aldo
作者单位：Bogazici University; Bocconi University; University of Minnesota System; University of Minnesota Twin Cities
摘要：We provide experimental evidence that subjects blame others on the basis of events they are not responsible for. In our experiment an agent chooses between a lottery and a safe asset; payment from the chosen option goes to a principal, who then decides how much to allocate between the agent and a third party. We observe widespread blame: regardless of their choice, agents are blamed by principals for the outcome of the lottery, an event they are not responsible for. We provide an explanation o...
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作者：Golosov, Mikhail; Maziero, Pricila; Menzio, Guido
作者单位：Princeton University; National Bureau of Economic Research; University of Pennsylvania
摘要：This paper studies the optimal redistribution of income inequality caused by the presence of search and matching frictions in the labor market. We study this problem in the context of a directed search model of the labor market populated by homogeneous workers and heterogeneous firms. The optimal redistribution can be attained using a positive unemployment benefit and an increasing and regressive labor income tax. The positive unemployment benefit serves the purpose of lowering the search risk...
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作者：Koriyama, Yukio; Laslier, Jean-Francois; Mace, Antonin; Treibich, Rafael
作者单位：Institut Polytechnique de Paris; Ecole Polytechnique; Centre National de la Recherche Scientifique (CNRS)
摘要：This paper provides a theoretical foundation that supports the degressive proportionality principle in apportionment problems, such as the allocation of seats in a federal parliament. The utility assigned by an individual to a constitutional rule is a function of the frequency with which each collective decision matches the individual's own will. The core of the argument is that, if the function is concave, then classical utilitarianism at the social level recommends decision rules that exhibi...
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作者：Hatfield, John William; Kominers, Scott Duke; Nichifor, Alexandru; Ostrovsky, Michael; Westkamp, Alexander
作者单位：University of Texas System; University of Texas Austin; Harvard University; University of Chicago; University of St Andrews; Stanford University; Maastricht University
摘要：We introduce a model in which agents in a network can trade via bilateral contracts. We find that when continuous transfers are allowed and utilities are quasi-linear, the full substitutability of preferences is sufficient to guarantee the existence of stable outcomes for any underlying network structure. Furthermore, the set of stable outcomes is essentially equivalent to the set of competitive equilibria, and all stable outcomes are in the core and are efficient. By contrast, for any domain ...
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作者：Bordalo, Pedro; Gennaioli, Nicola; Shleifer, Andrei
作者单位：University of London; Bocconi University; Harvard University
摘要：We present a theory of context-dependent choice in which a consumer's attention is drawn to salient attributes of goods, such as quality or price. An attribute is salient for a good when it stands out among the good's attributes relative to that attribute's average level in the choice set (or, more broadly, the choice context). Consumers attach disproportionately high weight to salient attributes, and their choices are tilted toward goods with higher quality/price ratios. The model accounts fo...
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作者：Di Tella, Rafael; Schargrodsky, Ernesto
作者单位：Harvard University; National Bureau of Economic Research; Universidad Torcuato Di Tella
摘要：We study criminal recidivism in Argentina by focusing on the rearrest rates of two groups: individuals released from prison and individuals released from electronic monitoring. Detainees are randomly assigned to judges, and ideological differences across judges translate into large differences in the allocation of electronic monitoring to an otherwise similar population. Using these peculiarities of the Argentine setting, we argue that there is a large, negative causal effect on criminal recid...
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作者：Buera, Francisco J.; Shin, Yongseok
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; Washington University (WUSTL); Federal Reserve System - USA; Federal Reserve Bank - St. Louis
摘要：We quantitatively analyze the role of financial frictions and resource misallocation in explaining development dynamics. Our model economy with financial frictions converges to the new steady state slowly after a reform triggers efficient reallocation of resources; the transition speed is half that of the conventional neoclassical model. Furthermore, in the model economy, investment rates and total factor productivity are initially low and increase over time. We present data from the so-called...
