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作者：Lemoine, Derek; Rudik, Ivan
作者单位：University of Arizona; National Bureau of Economic Research; Cornell University
摘要：Mattauch et al. (2020) claims that the quantitative conclusions in Lemoine and Rudik (2017)-henceforth, LR17-are not robust to using a climate model consistent with recent scientific results. We observe that LR17 in fact analyzes an extension to a more realistic carbon model that generates an efficient emission tax trajectory very similar to that in Mattauch et al. (2020), and we here show that simplifications in the temperature model of LR17 do not qualitatively affect their policy conclusion...
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作者：Halac, Marina; Kremer, Ilan; Winter, Eyal
作者单位：Yale University; Center for Economic & Policy Research (CEPR); Hebrew University of Jerusalem; Hebrew University of Jerusalem; University of Warwick; Lancaster University
摘要：A firm raises capital from multiple investors to fund a project. The project succeeds only if the capital raised exceeds a stochastic threshold, and the firm offers payments contingent on success. We study the firm's optimal -unique-implementation scheme, namely the scheme that guarantees the firm the maximum payoff. This scheme treats investors differently based on size. We show that if the distribution of the investment threshold is -log-concave, larger investors receive higher net returns t...
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作者：Luco, Fernando; Marshall, Guillermo
作者单位：Texas A&M University System; Texas A&M University College Station; University of British Columbia
摘要：We study the impact of vertical integration on pricing incentives in multiproduct industries. To do so, we exploit recent variation in vertical structure in the US carbonated-beverage industry. While the elimination of double marginalization with vertical integration is normally characterized as procompetitive, economic theory predicts that it may cause anticompetitive price increases in multiproduct industries. We indeed find that vertical integration causes price decreases in products with e...
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作者：Allcott, Hunt; Braghieri, Luca; Eichmeyer, Sarah; Gentzkow, Matthew
作者单位：New York University; National Bureau of Economic Research; Stanford University
摘要：The rise of social media has provoked both optimism about potential societal benefits and concern about harms such as addiction, depression, and political polarization. In a randomized experiment, we find that deactivating Facebook for the four weeks before the 2018 US midterm election (i) reduced online activity, while increasing offline activities such as watching TV alone and socializing with family and friends; (ii) reduced both factual news knowledge and political polarization; (iii) incr...
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作者：Romero, Mauricio; Sandefur, Justin; Sandholtz, Wayne Aaron
作者单位：Instituto Tecnologico Autonomo de Mexico; University of California System; University of California San Diego
摘要：In 2016, the Liberian government delegated management of 93 randomly selected public schools to private providers. Providers received US$50 per pupil, on top of US$50 per pupil annual expenditure in control schools. After one academic year, students in out-sourced schools scored 0.18s higher in English and mathematics. We do not find heterogeneity in learning gains or enrollment by student characteristics, but there is significant heterogeneity across providers. While outsourcing appears to be...
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作者：Farhi, Emmanuel; Gabaix, Xavier
作者单位：National Bureau of Economic Research; Harvard University; Center for Economic & Policy Research (CEPR)
摘要：This paper develops a theory of optimal taxation with behavioral agents. We use a general framework that encompasses a wide range of biases such as misperceptions and internalities. We revisit the three pillars of optimal taxation: Ramsey (linear commodity taxation to raise revenues and redistribute), Pigou (linear commodity taxation to correct externalities), and Mirrlees (nonlinear income taxation). We show how the canonical optimal tax formulas are modified and lead to novel economic insigh...
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作者：Chen, Yi; Fan, Ziying; Gu, Xiaomin; Zhou, Li-An
作者单位：Jinan University; ShanghaiTech University; Shanghai University of Finance & Economics; Shanghai University of International Business & Economics; Peking University
摘要：This paper estimates the effects on rural education of the send-down movement during the Cultural Revolution, when about 16 million urban youth were mandated to resettle in the countryside. Using a county-level dataset compiled from local gazetteers and population censuses, we show that greater exposure to the sent-down youths significantly increased rural children's educational achievement. This positive effect diminished after the urban youth left the countryside in the late 1970s but never ...
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作者：Deryugina, Tatyana; Molitor, David
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; National Bureau of Economic Research
摘要：We follow Medicare cohorts to estimate Hurricane Katrina's long-run mortality effects on victims initially living in New Orleans. Including the initial shock, the hurricane improved eight-year survival by 2.07 percentage points. Migration to lower-mortality regions explains most of this survival increase. Those migrating to low-versus high-mortality regions look similar at baseline, but their subsequent mortality is 0.83-1.01 percentage points lower per percentage point reduction in local mort...
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作者：Lagos, Ricardo; Zhang, Shengxing
作者单位：New York University; University of London; London School Economics & Political Science
摘要：We provide empirical evidence of a novel liquidity-based transmission mechanism through which monetary policy influences asset markets, develop a model of this mechanism, and assess the ability of the quantitative theory to match the evidence.
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作者：Ashraf, Nava; Bandiera, Oriana; Davenport, Edward; Lee, Scott S.
作者单位：University of London; London School Economics & Political Science; University of London; London School Economics & Political Science; Massachusetts Institute of Technology (MIT); Vanderbilt University; Vanderbilt University
摘要：We embed a field experiment in a nationwide recruitment drive for a new' health care position in Zambia to test whether career benefits attract talent at the expense of prosocial motivation. In line with common wisdom, offering career opportunities attracts less prosocial applicants. However, the trade-off exists only at low levels of talent; the marginal applicants in treatment are more talented and equally prosocial. These are hired, and perform better at every step of the causal chain: they...
