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作者：Kwon, Spencer Y.; Ma, Yueran; Zimmermann, Kaspar
作者单位：Brown University; University of Chicago; National Bureau of Economic Research; Frankfurt School Finance & Management
摘要：We collect data on the size distribution of US businesses for 100 years , and use these data to estimate the concentration of production ( e.g. , asset share or sales share of top businesses ) . The data show that concentration has increased persistently over the past century. Rising concentration was stronger in manufacturing and mining before the 1970s , and stronger in services , retail , and wholesale after the 1970s. The results are robust to different measurement methods and consistent a...
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作者：Alesina, Alberto; Carlana, Michela; La Ferrara, Eliana; Pinotti, Paolo
作者单位：Harvard University; Center for Economic & Policy Research (CEPR); Harvard University; National Bureau of Economic Research; National Bureau of Economic Research; Harvard University; Bocconi University
摘要：We study how people change their behavior after being made aware of bias. Teachers in Italian schools give lower grades to immigrant students relative to natives of comparable ability. In two experiments , we reveal to teachers their own stereotypes , measured by an Implicit Association Test ( IAT ) . In the first , we find that learning one's IAT before assigning grades reduces the native-immigrant grade gap. In the second , IAT disclosure and generic debiasing have similar average effects , ...
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作者：Fenizia, Alessandra; Saggio, Raffaele
作者单位：George Washington University; University of British Columbia; National Bureau of Economic Research
摘要：Organized crime has large economic and social costs. Hundreds of millions of people live in areas controlled by criminal organizations (Blattman et al. 2021 ). Thousands more are regularly displaced by the violence that accompanies these organizations (Daniele, Le Moglie, and Masera 2020 ). Organized crime thrives on illegal activities (Sviatschi 2022 ), preys on healthy businesses (Mirenda, Mocetti, and Rizzica 2022 ), weakens competition and innovation among firms (Slutzky and Zeume 2019 ), ...
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作者：Rhodes, Andrew; Zhou, Jidong
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Yale University
摘要：We study personalized pricing in a general oligopoly model. The impact of personalized pricing relative to uniform pricing hinges on the degree of market coverage. If market conditions are such that coverage is high ( e.g. , the production cost is low or the number of firms is high ) , personalized pricing harms firms and benefits consumers , whereas the opposite is true if coverage is low. When only some firms have data to personalize prices , consumers can be worse off compared to when eithe...
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作者：Herbst, Daniel; Hendren, Nathaniel
作者单位：University of Arizona; Massachusetts Institute of Technology (MIT)
摘要：We examine whether adverse selection has unraveled private markets for equity and state-contingent debt contracts for financing higher education. Using survey data on beliefs , we show a typical college-goer would have to repay $1.64 in present value for every $1 of financing to overcome adverse selection in an equity market. We find that riskaverse college-goers are not willing to accept these terms , so markets unravel. We discuss why moral hazard , biased beliefs , and outside credit option...
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作者：Amador, Manuel; Bianchi, Javier
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; University of Minnesota System; University of Minnesota Twin Cities
摘要：We present a tractable dynamic general equilibrium model of self-fulfilling bank runs , where banks trade capital in competitive and liquid markets but remain vulnerable to runs due to a loss of creditor confidence. We characterize how the vulnerability of an individual bank depends on its leverage position and the economy-wide asset prices. We study the effect of credit easing policies , in the form of asset purchases. When a banking crisis is generated by runs , credit easing can reduce the ...
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作者：Bobkova, Nina
作者单位：Rice University
摘要：The choice of an auction mechanism influences which object characteristics bidders learn about and whether the object is allocated efficiently. Some object characteristics are valued equally by all bidders and thus are inconsequential for the efficient allocation. Others matter only to certain bidders and thus determine the bidder with the highest valuation. I show when the second-price auction is ex ante efficient by inducing bidders to seek socially relevant information. When facing a contin...
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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：Hollingsworth, Alex; Karbownik, Krzysztof; Thomasson, Melissa A.; Wray, Anthony
作者单位：University System of Ohio; Ohio State University; University System of Ohio; Ohio State University; University System of Ohio; Ohio State University; National Bureau of Economic Research; Emory University; University System of Ohio; Miami University; University of Southern Denmark
摘要：We explore how access to modern hospitals and medicine affects mortality by leveraging efforts of the Duke Endowment to modernize hospitals in the early twentieth century. The Endowment helped communities build and expand hospitals , obtain state-of-the-art medical technology , attract qualified medical personnel , and refine management practices. We find that Duke support increased the size and quality of the medical sector , fostering growth in not-for-profit hospitals and high-quality physi...
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作者：Karahan, Fatih; Pugsley, Benjamin; Sahin, Aysegul
作者单位：Amazon.com; University of Notre Dame; University of Texas System; University of Texas Austin; National Bureau of Economic Research
摘要：We propose a simple explanation for the long-run decline in the US start-up rate. It originates from a slowdown in labor supply growth since the late 1970s , largely predetermined by demographics. This channel can explain roughly half of the decline and why incumbent firm survival and average growth over the life cycle have changed little. We show these results in a standard model of firm dynamics and test the mechanism using cross-state variation in labor supply growth. Finally , we show that...
