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作者：Andrews, Isaiah; Gentzkow, Matthew; Shapiro, Jesse M.
作者单位：Harvard University; National Bureau of Economic Research; Stanford University; Brown University
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作者：Galeotti, Andrea; Golub, Benjamin; Goyal, Sanjeev
作者单位：University of London; London Business School; Harvard University; University of Cambridge; University of Cambridge
摘要：We study games in which a network mediates strategic spillovers and externalities among the players. How does a planner optimally target interventions that change individuals' private returns to investment? We analyze this question by decomposing any intervention into orthogonal principal components, which are determined by the network and are ordered according to their associated eigenvalues. There is a close connection between the nature of spillovers and the representation of various princi...
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作者：Kitamura, Yuichi
作者单位：Yale University
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作者：McCracken, Michael W.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - St. Louis
摘要：We investigate claims made in Giacomini and White (2006) and Diebold (2015) regarding the asymptotic normality of a test of equal predictive ability. A counterexample is provided in which, instead, the test statistic diverges with probability 1 under the null.
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作者：Detemple, Jerome; Rindisbacher, Marcel; Robertson, Scott
作者单位：Boston University
摘要：We study equilibria in multi-asset and multi-agent continuous-time economies with asymmetric information and bounded rational noise traders. We establish the existence of two equilibria. First, a full communication equilibrium where the informed agents' signal is disclosed to the market and static policies are optimal. Second, a partial communication equilibrium where the signal disclosed is affine in the informed and noise traders' signals, and dynamic policies are optimal. Here, information ...
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作者：De Chaisemartin, Clement; Behaghel, Luc
作者单位：University of California System; University of California Santa Barbara; Paris School of Economics; INRAE
摘要：Oversubscribed treatments are often allocated using randomized waiting lists. Applicants are ranked randomly, and treatment offers are made following that ranking until all seats are filled. To estimate causal effects, researchers often compare applicants getting and not getting an offer. We show that those two groups are not statistically comparable. Therefore, the estimator arising from that comparison is inconsistent when the number of waitlists goes to infinity. We propose a new estimator,...
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作者：Backus, Matthew
作者单位：Columbia University
摘要：The correlation between productivity and competition is an oft observed but incompletely understood result. Some suggest that there is a treatment effect of competition on measured productivity, for example, through a reduction of managerial slack. Others argue that greater competition makes unproductive establishments exit by reallocating demand to their productive rivals, raising observed average productivity via selection. I study the ready-mix concrete industry and offer three perspectives...
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作者：Koh, Dongya; Santaeulalia-Llopis, Rauel; Zheng, Yu
作者单位：University of Arkansas System; University of Arkansas Fayetteville; Autonomous University of Barcelona; Barcelona School of Economics; University of London; Queen Mary University London; Centre for Economic Policy Research - UK
摘要：We study the behavior of the U.S. labor share over the past 90 years. We find that the observed decline of the labor share is entirely explained by the capitalization of intellectual property products in the national income and product accounts.
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作者：Arbatli, Cemal Eren; Ashraf, Quamrul H.; Galor, Oded; Klemp, Marc
作者单位：HSE University (National Research University Higher School of Economics); Williams College; Brown University; University of Copenhagen
摘要：This research advances the hypothesis and establishes empirically that interpersonal population diversity, rather than fractionalization or polarization across ethnic groups, has been pivotal to the emergence, prevalence, recurrence, and severity of intrasocietal conflicts. Exploiting an exogenous source of variations in population diversity across nations and ethnic groups, as determined predominantly during the exodus of humans from Africa tens of thousands of years ago, the study demonstrat...
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作者：Andrews, Isaiah; Gentzkow, Matthew; Shapiro, Jesse M.
作者单位：Harvard University; National Bureau of Economic Research; Stanford University; Brown University
摘要：We propose a way to formalize the relationship between descriptive analysis and structural estimation. A researcher reports an estimate (c) over cap of a structural quantity of interest c that is exactly or asymptotically unbiased under some base model. The researcher also reports descriptive statistics (gamma) over cap that estimate features gamma of the distribution of the data that are related to c under the base model. A reader entertains a less restrictive model that is local to the base ...
