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作者：Hurst, Erik; Rubinstein, Yona; Shimizu, Kazuatsu
作者单位：University of Chicago; University of London; London School Economics & Political Science; University of Houston System; University of Houston; Massachusetts Institute of Technology (MIT)
摘要：We develop a task -based model of occupational sorting to identify and quantify the effect of discrimination, racial skill gaps, and aggregate task prices on Black -White differences in labor market outcomes over time. At the heart of our framework is the idea that the size and nature of racial barriers faced by Black workers vary by the task requirements of each job. We define a new task that measures the extent to which individuals interact with others as part of their job. We show that this...
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作者：Houmark, Mikkel Aagaard; Ronda, Victor; Rosholm, Michael
作者单位：Aarhus University; Aarhus University; IZA Institute Labor Economics
摘要：This paper studies the interplay between genetics and family investments in the process of skill formation. We model and estimate the joint evolution of skills and parental investments throughout early childhood. We document three genetic mechanisms: the direct effect of child genes on skills, the indirect effect of child genes via parental investments, and family genetic injluences captured by parental genes. We show that genetic effects are dynamic, increase over time, and operate via enviro...
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作者：Castro-Pires, Henrique; Chade, Hector; Swinkels, Jeroen
作者单位：University of Surrey; Arizona State University; Arizona State University-Tempe; Northwestern University
摘要：While many real -world principal -agent problems have both moral hazard and adverse selection, existing tools largely analyze only one at a time. Do the insights from the separate analyses survive when the frictions are combined? We develop a simple method-decouplingto study both problems at once. When decoupling works, everything we know from the separate analyses carries over, but interesting interactions also arise. We provide simple tests for whether decoupling is valid. We develop and num...
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作者：Huo, Zhen; Pedroni, Marcelo; Pei, Guangyu
作者单位：Yale University; University of Amsterdam; Vrije Universiteit Amsterdam; Tinbergen Institute; Chinese University of Hong Kong
摘要：This paper characterizes the effects of ambiguity aversion under dispersed information. The equilibrium outcome is observationally equivalent to a Bayesian forecast of the fundamental with increased sensitivity to signals and a pessimistic bias. This equivalence result takes a simple form that accommodates dynamic information and strategic interactions. Applying the result, we show that ambiguity aversion helps rationalize the joint empirical pattern between the bias and persistence of inflati...
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作者：Bai, Yan; Jin, Keyu; Lu, Dan
作者单位：University of Rochester; University of London; London School Economics & Political Science; Chinese University of Hong Kong
摘要：This paper formalizes a classic idea that in second-best environments trade can induce welfare losses: incremental income losses from distortions can outweigh trade gains. In a Melitz model with distortionary taxes , we derive sufficient statistics for welfare gains / losses and show departures from the efficient case ( Arkolakis, Costinot, and Rodriguez-Clare 2012 ) can be captured by the gap between an input and output share and domestic extensive margin elasticities. The loss reflects an en...
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作者：Lashkari, Danial; Bauer, Arthur; Boussard, Jocelyn
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Institut Polytechnique de Paris; ENSAE Paris
摘要：What are the implications of the dramatic fall in IT prices for aggregate technology? When firm-level technologies are continuously differentiable , a factor price shock leads to ( i ) a substitution between factors and / or ( ii ) an endogenous response of returns to scale. The second channel is governed by the output elasticity of relative factor demand. Using detailed firm-level data from France , we estimate this elasticity to be positive for IT factor demand. A quantitative exercise accou...
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作者：Franklin, Simon; Imbert, Clement; Abebe, Girum; Media-mantilla, Carolina
作者单位：University of London; Queen Mary University London; University of Warwick; The World Bank
摘要：This paper evaluates a large urban public works program randomly rolled out across neighborhoods of Addis Ababa , Ethiopia. We find the program increased public employment and reduced private labor supply among beneficiaries and improved local amenities in treated locations. We then combine a spatial equilibrium model and unique commuting data to estimate the spillover effects of the program on private sector wages across neighborhoods: under full program rollout , wages increased by 18.6 perc...
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作者：Bassetto, Marco; Huo, Zhen; Rios-Rull, Jose-Victor
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; Yale University; National Bureau of Economic Research; University of Pennsylvania; Center for Economic & Policy Research (CEPR); University of London; University College London
摘要：We propose a theory of gradualism in the implementation of good policies, suitable for environments featuring time consistency. We downplay the role of the initial period by allowing agents both to wait for future agents to start equilibrium play and to restart the equilibrium by ignoring past history. The allocation gradually transits toward one that weighs both short- and long-term concerns, stopping short of the Ramsey outcome but greatly improving upon Markovian equilibria. We use the theo...
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作者：Riley, Emma
作者单位：University of Michigan System; University of Michigan
摘要：I examine whether changing the form of disbursement of a microfinance loan enables female microfinance borrowers to overcome intra-household sharing pressure and grow their businesses. Using a field experiment with 3,000 borrowers in Uganda , I compare the disbursement of a loan as cash to disbursement onto a digital account. After 8 months , women who received their microfinance loan on the digital account had 11 percent higher ( US$70 ) business capital and 15 percent higher ( US$18 ) profit...
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作者：Hager, Sebastian; Schwarz, Carlo; Waldinger, Fabian
作者单位：University of Oxford; Bocconi University; Bocconi University; Centre for Economic Policy Research - UK; University of Munich; Leibniz Association; Ifo Institut
摘要：We study how performance metrics affect the allocation of talent by exploiting the introduction of the first citation database in science. For technical reasons, it only covered citations from certain journals and years, creating quasi-random variation: some citations became visible, while others remained invisible. We identify the effects of citation metrics by comparing the predictiveness of visible to invisible citations. Citation metrics increased assortative matching between scientists an...
