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作者：Bierbrauer, Felix; Tsyvinski, Aleh; Werquin, Nicolas
作者单位：University of Cologne; Yale University; New Economic School; Federal Reserve System - USA; Federal Reserve Bank - Chicago; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：We develop a model of political competition with endogenous turnout and endogenous platforms. Parties trade off incentivizing their supporters to vote and discouraging the supporters of the competing party from voting. We show that the latter objective is particularly pronounced for a party with an edge in the political race. Thus, an increase in political support for a party may lead to the adoption of policies favoring its opponents so as to asymmetrically demobilize them. We study the impli...
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作者：Derenoncourt, Ellora
作者单位：Princeton University; National Bureau of Economic Research
摘要：This paper shows that racial composition shocks during the Great Migration (1940-1970) reduced the gains from growing up in the northern United States for Black families and can explain 27 percent of the region's racial upward mobility gap today. I identify northern Black share increases by interacting pre -1940 Black migrants' location choices with predicted southern county out-migration. Locational changes, not negative selection of families, explain lower upward mobility, with persistent se...
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作者：Armstrong, Mark; Zhou, Jidong
作者单位：University of Oxford; Yale University
摘要：This paper studies competition between firms when consumers observe a private signal of their preferences over products. Within the class of signal structures that induce pure-strategy pricing equilibria, we derive signal structures that are optimal for firms and those that are optimal for consumers. The firm-optimal policy amplifies underlying product differentiation, thereby relaxing competition, while ensuring consumers purchase their preferred product, thereby maximizing total welfare. The...
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作者：Shepard, Mark
作者单位：Harvard University; National Bureau of Economic Research
摘要：Health insurers increasingly compete on their networks of medical providers. Using data from Massachusetts's insurance exchange, I find substantial adverse selection against plans covering the most prestigious and expensive star hospitals. I highlight a theoretically distinct selection channel: consumers loyal to star hospitals incur high spending, conditional on their medical state, because they use these hospitals' expensive care. This implies heterogeneity in consumers' incremental costs of...
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作者：Akhtari, Mitra; Moreira, Diana; Trucco, Laura
作者单位：University of California System; University of California Davis; University of California System; University of California Davis; Amazon.com
摘要：We study how political turnover in mayoral elections in Brazil affects public service provision by local governments. Exploiting a regression discontinuity design for close elections, we find that municipalities with a new party in office experience upheavals in the municipal bureaucracy: new personnel are appointed across multiple service sectors, and at both managerial and non-managerial levels. In education, the increase in the replacement rate of personnel in schools controlled by the muni...
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作者：Mukhin, Dmitry
作者单位：University of London; London School Economics & Political Science
摘要：What explains the central role of the dollar in world trade? Will the US currency retain its dominant status in the future? This paper develops a quantitative general equilibrium framework with endogenous currency choice that can address these questions. Complementarities in price setting and input-output linkages across firms generate complementarities in currency choice making exporters coordinate on the same currency of invoicing. The dollar is more likely to play this role because of the l...
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作者：Cicala, Steve
作者单位：Tufts University
摘要：This paper evaluates changes in electricity generation costs caused by the introduction of market mechanisms to determine production in the United States. I use the staggered transition to markets from 1999 to 2012 to estimate the causal impact of liberalization using a differences-in-difference design on a comprehensive hourly panel of electricity demand, generators' costs, capacities, and output. I find that markets reduce production costs by 5 percent by reallocating production: gains from ...
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作者：Loertscher, Simon; Marx, Leslie M.
作者单位：University of Melbourne; Duke University
摘要：We provide an incomplete information bargaining framework that captures the effects of differential bargaining power in markets with multiple buyers and multiple suppliers. The market is modeled as a mechanism that maximizes the expected weighted welfare of the firms, subject to the constraints of incentive compatibility, individual rationality, and no deficit. We show that, in this model, there is no basis for the presumption that vertical integration increases equally weighted social surplus...
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作者：Cutler, David M.; Ghosh, Kaushik; Messer, Kassandra L.; Raghunathan, Trivellore; Rosen, Allison B.; Stewart, Susan T.
作者单位：Harvard University; National Bureau of Economic Research; University of Michigan System; University of Michigan; University of Massachusetts System; University of Massachusetts Amherst
摘要：This paper develops a satellite account for the US health sector and measures productivity growth in health care for the elderly population between 1999 and 2012. We measure the change in medical spending and health outcomes for a comprehensive set of 80 conditions. Medical care has positive productivity growth over the time period, with aggregate productivity growth of 1.5 percent per year. However, there is significant heterogeneity in productivity growth. Care for cardiovascular disease has...
