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作者：Leung, Michael P.
作者单位：University of Southern California
摘要：This paper studies causal inference in randomized experiments under network interference. Commonly used models of interference posit that treatments assigned to alters beyond a certain network distance from the ego have no effect on the ego's response. However, this assumption is violated in common models of social interactions. We propose a substantially weaker model of approximate neighborhood interference (ANI) under which treatments assigned to alters further from the ego have a smaller, b...
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作者：Carlana, Michela; La Ferrara, Eliana; Pinotti, Paolo
作者单位：Harvard University; IZA Institute Labor Economics; Centre for Economic Policy Research - UK; Bocconi University; Bocconi University; Bocconi University
摘要：We study the educational choices of children of immigrants in a tracked school system. We first show that immigrants in Italy enroll disproportionately into vocational high schools, as opposed to technical and academically-oriented ones, compared to natives of similar ability. The gap is greater for male students and it mirrors an analogous differential in grade retention. We then estimate the impact of a large-scale, randomized intervention providing tutoring and career counseling to high-abi...
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作者：Chassang, Sylvain; Kawai, Kei; Nakabayashi, Jun; Ortner, Juan
作者单位：Princeton University; University of California System; University of California Berkeley; Kindai University (Kinki University); Boston University
摘要：We document a novel bidding pattern observed in procurement auctions from Japan: winning bids tend to be isolated, and there is a missing mass of close losing bids. This pattern is suspicious in the following sense: its extreme forms are inconsistent with competitive behavior under arbitrary information structures. Building on this observation, we develop systematic tests of competitive behavior in procurement auctions that allow for general information structures as well as nonstationary unob...
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作者：Giuliano, Laura
作者单位：University of California System; University of California Santa Cruz
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作者：Sentana, Enrique
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作者：Carlana, Michela; La Ferrara, Eliana; Pinotti, Paolo
作者单位：Harvard University; Centre for Economic Policy Research - UK; Bocconi University; Bocconi University
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作者：Liang, Annie; Mu, Xiaosheng; Syrgkanis, Vasilis
作者单位：Northwestern University; Northwestern University; Princeton University; Microsoft
摘要：An agent has access to multiple information sources, each modeled as a Brownian motion whose drift provides information about a different component of an unknown Gaussian state. Information is acquired continuously-where the agent chooses both which sources to sample from, and also how to allocate attention across them-until an endogenously chosen time, at which point a decision is taken. We demonstrate conditions on the agent's prior belief under which it is possible to exactly characterize t...
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作者：Crump, Richard K.; Gospodinov, Nikolay
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Federal Reserve System - USA; Federal Reserve Bank - Atlanta
摘要：We demonstrate that characterizing the minimal dimension of the term structure of interest rates is more challenging than currently appreciated. The highly structured polynomial patterns of the factor loadings, which are widely reported and discussed in the literature, reflect local correlations of smooth curves across maturities. We derive analytical expressions for the loadings of cross-sectionally dependent processes that tend to favor a much lower dimension than the true dimension of the u...
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作者：Diamond, Rebecca
作者单位：National Bureau of Economic Research
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作者：Liu, Ernest; Mian, Atif; Sufi, Amir
作者单位：Princeton University; University of Chicago
摘要：This study provides a new theoretical result that a decline in the long-term interest rate can trigger a stronger investment response by market leaders relative to market followers, thereby leading to more concentrated markets, higher profits, and lower aggregate productivity growth. This strategic effect of lower interest rates on market concentration implies that aggregate productivity growth declines as the interest rate approaches zero. The framework is relevant for antitrust policy in a l...
