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作者：Berger, David; Herkenhoff, Kyle; Mongey, Simon
作者单位：Duke University; University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：Many argue that minimum wages can prevent efficiency losses from monopsony power. We assess this argument in a general equilibrium model of oligopsonistic labor markets with heterogeneous workers and firms. We decompose welfare gains into an efficiency component that captures reductions in monopsony power and a redistributive component that captures the way minimum wages shift resources across people. The minimum wage that maximizes the efficiency component of welfare lies below $8.00 and yiel...
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作者：Lipman, Barton
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作者：Freyberger, Joachim; Larsen, Bradley J.
作者单位：University of Bonn; Washington University (WUSTL); National Bureau of Economic Research
摘要：This study provides a structural analysis of detailed, alternating-offer bargaining data from eBay, deriving bounds on buyers and sellers private value distributions and the gains from trade using a range of assumptions on behavior and the informational environment. These assumptions range from weak (assuming only that acceptance and rejection decisions are rational) to less weak (e.g., assuming that bargaining offers are weakly increasing in players' private values). We estimate the bounds an...
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作者：European Summer Meeting
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作者：Ottinger, Sebastian; Voigtlander, Nico
作者单位：Czech Academy of Sciences; Charles University Prague; Economics Institute of the Czech Academy of Sciences; University of California System; University of California Los Angeles; National Bureau of Economic Research
摘要：We create a novel reign-level data set for European monarchs, covering all major European states between the 10th and 18th centuries. We first document a strong positive relationship between rulers' cognitive ability and state performance. To address endogeneity issues, we exploit the facts that (i) rulers were appointed according to hereditary succession, independent of their ability, and (ii) the widespread inbreeding among the ruling dynasties of Europe led over centuries to quasirandom var...
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作者：Ali, S. Nageeb; Mihm, Maximilian; Siga, Lucas
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; New York University; New York University Abu Dhabi; University of Essex
摘要：This paper offers a strategic rationale for zero-sum thinking in elections. We show that asymmetric information and distributional considerations together make voters wary of policies supported by others. This force impels a majority of voters to support policies contrary to their preferences and information. Our analysis identifies and interprets a form of adverse correlation that is necessary and sufficient for zero-sum thinking to prevail in equilibrium.
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作者：Fieler, Ana Cecilia; Eaton, Jonathan
作者单位：Yale University; National Bureau of Economic Research; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：Welfare depends on the quantity, quality, and range of goods consumed. We use trade data, which report the quantities and prices of the individual goods that countries exchange, to learn about how the gains from trade and growth break down into these different margins. Our general equilibrium model, in which both quality and quantity contribute to consumption and to production, captures (i) how prices increase with importer and exporter per capita income, (ii) how the range of goods traded ris...
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作者：Itskhoki, Oleg; Mukhin, Dmitry
作者单位：Harvard University; University of London; London School Economics & Political Science
摘要：The Mussa (1986) puzzle is the observation of a sharp and simultaneous increase in the volatility of both nominal and real exchange rates following the end of the Bretton Woods System of pegged exchange rates in 1973. It is commonly viewed as a central piece of evidence in favor of monetary non-neutrality because it is an instance in which a change in the monetary regime caused a dramatic change in the equilibrium behavior of a real variable-the real exchange rate-and is often further interpre...
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作者：Berger, David; Herkenhoff, Kyle; Mongey, Simon
作者单位：Duke University; University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：Many argue that minimum wages can prevent efficiency losses from monopsony power. We assess this argument in a general equilibrium model of oligopsonistic labor markets with heterogeneous workers and firms. We decompose welfare gains into an efficiency component that captures reductions in monopsony power and a redistributive component that captures the way minimum wages shift resources across people. The minimum wage that maximizes the efficiency component of welfare lies below $8.00 and yiel...
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作者：Lipman, Barton
