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作者：Williams, Kevin R.
作者单位：Yale University; National Bureau of Economic Research
摘要：Airfares fluctuate due to demand shocks and intertemporal variation in willingness to pay. I estimate a model of dynamic airline pricing accounting for both sources of price adjustments using flight-level data. I use the model estimates to evaluate the welfare effects of dynamic airline pricing. Relative to uniform pricing, dynamic pricing benefits early-arriving, leisure consumers at the expense of late-arriving, business travelers. Although dynamic pricing ensures seat availability for busin...
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作者：Britto, Diogo G. C.; Pinotti, Paolo; Sampaio, Breno
作者单位：Bocconi University; Bocconi University; Centre for Economic Policy Research - UK; Universidade Federal de Pernambuco
摘要：We investigate the impact of job loss on crime and the mitigating role of unemployment benefits, exploiting detailed individual-level data linking employment careers, criminal records, and welfare registries for the universe of male workers in Brazil. The probability of committing crimes increases on average by 23% for workers displaced by mass layoffs, and by slightly less for their cohabiting sons. Using causal forests, we show that the effect is entirely driven by young and low-tenure worke...
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作者：Siniscalchi, Marciano
作者单位：Northwestern University
摘要：The analysis of dynamic games hinges on assumptions about players' actions and beliefs at information sets that are not expected to be reached during game play. Under the standard notion of sequential rationality, these assumptions cannot be tested on the basis of observed, on-path behavior. This paper introduces a novel optimality criterion, structural rationality, which addresses this concern. In any dynamic game, structural rationality implies weak sequential rationality (Reny (1992)). If p...
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作者：Beare, Brendan K.; Toda, Alexis Akira
作者单位：University of Sydney; University of California System; University of California San Diego
摘要：This article contains new tools for studying the shape of the stationary distribution of sizes in a dynamic economic system in which units experience random multiplicative shocks and are occasionally reset. Each unit has a Markov-switching type, which influences their growth rate and reset probability. We show that the size distribution has a Pareto upper tail, with exponent equal to the unique positive solution to an equation involving the spectral radius of a certain matrix-valued function. ...
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作者：Ewerhart, Christian; Reny, Philip J.
作者单位：University of Zurich; University of Chicago
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作者：Acemoglu, Daron; Restrepo, Pascual
作者单位：Massachusetts Institute of Technology (MIT); Boston University
摘要：We document that between 50% and 70% of changes in the U.S. wage structure over the last four decades are accounted for by relative wage declines of worker groups specialized in routine tasks in industries experiencing rapid automation. We develop a conceptual framework where tasks across industries are allocated to different types of labor and capital. Automation technologies expand the set of tasks performed by capital, displacing certain worker groups from jobs for which they have comparati...
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作者：Alvarez, Fernando; Lippi, Francesco
作者单位：University of Chicago; National Bureau of Economic Research; Luiss Guido Carli University
摘要：We propose an analytical method to analyze the propagation of an aggregate shock in a broad class of sticky-price models. The method is based on the eigenvalue-eigenfunction representation of the dynamics of the cross-sectional distribution of firms' desired adjustments. A key novelty is that we can approximate the whole profile of the impulse response for any moment of interest in response to an aggregate shock (any displacement of the invariant distribution). We present several applications ...
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作者：Hopenhayn, Hugo; Neira, Julian; Singhania, Rish
作者单位：University of California System; University of California Los Angeles; University of Exeter
摘要：In the U.S., large firms now account for a greater share of economic activity, new firms are being created at slower rates, and workers are receiving a smaller share of GDP. Changes in population growth provide a unified quantitative explanation. A decrease in population growth lowers firm entry rates, shifting the firm-age distribution toward older firms. Firm aging accounts for (i) the concentration of employment in large firms, (ii) and trends in average firm size and exit rates, key determ...
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作者：Zhong, Weijie
作者单位：Stanford University
摘要：I study a dynamic model in which a decision-maker (DM) acquires information about the payoffs of different alternatives prior to making a decision. The model's key feature is the flexibility of information: the DM can choose any dynamic signal process as an information source, subject to a flow cost that depends on the informativeness of the signal. Under the optimal policy, the DM acquires a signal that arrives according to a Poisson process. The optimal Poisson signal confirms the DM's prior...
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作者：Dell, Melissa
作者单位：Harvard University
