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作者：Abadie, Alberto; Athey, Susan; Imbens, Guido W.; Wooldridge, Jeffrey M.
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Stanford University; Stanford University; Michigan State University
摘要：Consider a researcher estimating the parameters of a regression function based on data for all 50 states in the United States or on data for all visits to a website. What is the interpretation of the estimated parameters and the standard errors? In practice, researchers typically assume that the sample is randomly drawn from a large population of interest and report standard errors that are designed to capture sampling variation. This is common even in applications where it is difficult to art...
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作者：Attanasio, Orazio; Pastorino, Elena
作者单位：University of London; University College London; Centre for Economic Policy Research - UK; Stanford University; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：This paper examines the prices of basic staples in rural Mexico. We document that nonlinear pricing in the form of quantity discounts is common, that quantity discounts are sizable for basic staples, and that the well-known conditional cash transfer program Progresa has significantly increased quantity discounts, although the program, as documented in previous studies, has not affected unit prices on average. To account for these patterns, we propose a model of price discrimination that nests ...
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作者：Chandrasekhar, Arun G.; Larreguy, Horacio; Xandri, Juan Pablo
作者单位：Stanford University; National Bureau of Economic Research; Harvard University; Princeton University
摘要：We theoretically and empirically study an incomplete information model of social learning. Agents initially guess the binary state of the world after observing a private signal. In subsequent rounds, agents observe their network neighbors' previous guesses before guessing again. Agents are drawn from a mixture of learning types-Bayesian, who face incomplete information about others' types, and DeGroot, who average their neighbors' previous period guesses and follow the majority. We study (1) l...
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作者：[Anonymous]
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作者：Fagereng, Andreas; Guiso, Luigi; Malacrino, Davide; Pistaferri, Luigi
作者单位：BI Norwegian Business School; Centre for Economic Policy Research - UK; International Monetary Fund; National Bureau of Economic Research; Stanford University
摘要：We provide a systematic analysis of the properties of individual returns to wealth using 12 years of population data from Norway's administrative tax records. We document a number of novel results. First, individuals earn markedly different average returns on their net worth (a standard deviation of 22.1%) and on its components. Second, heterogeneity in returns does not arise merely from differences in the allocation of wealth between safe and risky assets: returns are heterogeneous even withi...
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作者：Buera, Francisco J.; Oberfield, Ezra
作者单位：Washington University (WUSTL); Princeton University
摘要：We provide a tractable, quantitatively-oriented theory of innovation and technology diffusion to explore the role of international trade in the process of development. We model innovation and diffusion as a process involving the combination of new ideas with insights from other industries or countries. We provide conditions under which each country's equilibrium frontier of knowledge converges to a Frechet distribution, and derive a system of differential equations describing the evolution of ...
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作者：Imbens, Guido; Donaldson, Dave; Jones, Charles I.; Lipman, Bart L.; Lizzeri, Alessandro; Muller, Ulrich K.; Nevo, Aviv; Wolinsky, Asher
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作者：Bonhomme, Stephane; Prat, Andrea
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作者：Acemoglu, Daron; Azar, Pablo D.
作者单位：Massachusetts Institute of Technology (MIT)
摘要：We develop a tractable model of endogenous production networks. Each one of a number of products can be produced by combining labor and an endogenous subset of the other products as inputs. Different combinations of inputs generate (prespecified) levels of productivity and various distortions may affect costs and prices. We establish the existence and uniqueness of an equilibrium and provide comparative static results on how prices and endogenous technology/input choices (and thus the producti...
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作者：Liu, Laura; Moon, Hyungsik Roger; Schorfheide, Frank
作者单位：Indiana University System; Indiana University Bloomington; University of Southern California; Yonsei University; University of Pennsylvania; Centre for Economic Policy Research - UK; National Bureau of Economic Research
摘要：This paper considers the problem of forecasting a collection of short time series using cross-sectional information in panel data. We construct point predictors using Tweedie's formula for the posterior mean of heterogeneous coefficients under a correlated random effects distribution. This formula utilizes cross-sectional information to transform the unit-specific (quasi) maximum likelihood estimator into an approximation of the posterior mean under a prior distribution that equals the populat...
