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作者：Soares, Rodrigo R.; Falcao, Bruno L. S.
作者单位：Yale University
摘要：This paper presents a theory in which increases in female labor force participation and reductions in the gender-wage gap are generated as part of a single process of demographic transition, initially characterized by reductions in mortality and fertility. The paper suggests a relationship between gains in life expectancy and changes in the role of women in society that has not been identified before in the literature. Mortality reductions affect the incentives of individuals to invest in huma...
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作者：Aumann, Robert J.; Serrano, Roberto
作者单位：Hebrew University of Jerusalem; Brown University
摘要：Define the riskiness of a gamble as the reciprocal of the absolute risk aversion (ARA) of an individual with constant ARA who is indifferent between taking and not taking that gamble. We characterize this index by axioms, chief among them a duality axiom that, roughly speaking, asserts that less risk-averse individuals accept riskier gambles. The index is positively homogeneous, continuous, and subadditive; respects first- and second-order stochastic dominance; and for normally distributed gam...
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作者：Bayer, Patrick; Ross, Stephen L.; Topa, Giorgio
作者单位：Duke University; National Bureau of Economic Research; University of Connecticut; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：We use a novel research design to empirically detect the effect of social interactions among neighbors on labor market outcomes. Using Census data that characterize residential and employment locations down to the city block, we examine whether individuals residing in the same block are more likely to work together than those in nearby blocks. We find evidence of significant social interactions operating at the block level. The estimated referral effect is stronger when individuals are similar...
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作者：Vogel, Jonathan
作者单位：University of California System; University of California Los Angeles
摘要：I model endogenous horizontal and vertical product differentiation with arbitrarily many heterogeneous firms. Firms are asymmetric in that they differ in their marginal costs. I prove that under an equilibrium refinement, all economically relevant firm outcomes are uniquely determined across all strict subgame perfect Nash equilibria. There are two central results. First, a firm's price, market share, and profit are independent of its neighbors' marginal costs, conditional on the average margi...
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作者：Fang, Hanming; Keane, Michael P.; Silverman, Dan
作者单位：University of Technology Sydney; Arizona State University; Arizona State University-Tempe; University of Michigan System; University of Michigan
摘要：We provide evidence of advantageous selection in the Medigap insurance market and analyze its sources. Conditional on controls for Medigap prices, those with Medigap spend, on average, $4,000 less on medical care than those without. But if we condition on health, those with Medigap spend $2,000 more. The sources of this advantageous selection include income, education, longevity expectations, and financial planning horizons, as well as cognitive ability. Conditional on all these factors, those...
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作者：Goldstein, Markus; Udry, Christopher
作者单位：The World Bank; Yale University
摘要：We examine the impact of ambiguous and contested land rights on investment and productivity in agriculture in Akwapim, Ghana. We show that individuals who hold powerful positions in a local political hierarchy have more secure tenure rights and that as a consequence they invest more in land fertility and have substantially higher output. The intensity of investments on different plots cultivated by a given individual corresponds to that individual's security of tenure over those specific plots...
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作者：Correia, Isabel; Nicolini, Juan Pablo; Teles, Pedro
作者单位：Universidade Catolica Portuguesa; Banco de Portugal
摘要：In this article, we analyze the implications of price-setting restrictions for the conduct of cyclical fiscal and monetary policy. We consider standard monetary economies that differ in the price-setting restrictions imposed on the firms. We show that, independently of the degree or type of price stickiness, it is possible to implement the same efficient set of allocations and that each allocation in that set is implemented with policies that are also independent of the price stickiness. In th...
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作者：Rogerson, Richard
作者单位：Arizona State University; Arizona State University-Tempe
摘要：This paper examines hours worked in continental Europe and the United States from 1956 to 2003. The empirical work establishes two results. First, hours worked in Europe decline by almost 45 percent compared to the United States over this period. Second, this decline is almost entirely accounted for by the fact that Europe develops a much smaller market service sector than the United States. A simple model of time allocation is used to understand these patterns. I find that relative increases ...
