-
作者：Gertler, Mark; Trigari, Antonella
作者单位：New York University; Bocconi University
摘要：A number of authors have argued that the conventional model of unemployment dynamics due to Mortensen and Pissarides has difficulty accounting for the relatively volatile behavior of labor market activity over the business cycle. We address this issue by modifying the Mortensen-Pissarides framework to allow for staggered multiperiod wage contracting. What emerges is a tractable relation for wage dynamics that is a natural generalization of the period-by-period Nash bargaining outcome in the co...
-
作者：Kirwan, Barrett E.
作者单位：University System of Maryland; University of Maryland College Park
摘要：Who benefits from agricultural subsidies is an open question. Economic theory predicts that the entire subsidy incidence should be on the farmland owners. Using a complementary set of policy quasi experiments, I find that farmers who rent the land they cultivate capture 75 percent of the subsidy, leaving just 25 percent for landowners. This finding contradicts the prediction from neoclassical models. The standard prediction may not hold because of less than perfect competition in the farmland ...
-
作者：Gerardi, Kristopher S.; Shapiro, Adam Hale
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Atlanta
摘要：We analyze the effects of competition on price dispersion in the airline industry, using panel data from 1993: Q1 through 2006: Q3. Competition has a negative effect on price dispersion, in line with the textbook treatment of price discrimination. This effect is pronounced for routes with consumers characterized by relatively heterogeneous elasticities of demand. On routes with a homogeneous customer base, the effects of competition on price dispersion are smaller. Our results contrast with th...
