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作者：Fetter, Daniel K.; Lockwood, Lee M.
作者单位：Wellesley College; National Bureau of Economic Research; University of Virginia
摘要：Many government programs transfer resources to older people and implicitly or explicitly tax their labor We shed new light on the labor supply and welfare effects of such programs by investigating the Old Age Assistance Program (OAA). Exploiting the large differences in OAA programs across states and Census data on the entire US population in 1940, we find that OAA reduced the labor force participation rate among men aged 65 74 by 8.5 percentage points, more than one-half of its 1930 1940 decl...
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作者：Chatterjee, Shoumitro; Vogl, Tom
作者单位：Princeton University
摘要：Following mid-twentieth century predictions of Malthusian catastrophe, fertility in the developing world more than halved, while living standards more than doubled. We analyze how fertility change related to economic growth during this episode, using data on 2.3 million women from 25.5 household surveys. We find different responses to fluctuations and long-run growth, both heterogeneous over the life cycle. Fertility was procyclical but declined and delayed with long-run growth; fluctuations l...
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作者：Wollmann, Thomas G.
作者单位：University of Chicago
摘要：The entry and exit of products, rather than firms, serve as the main equilibrating force in many markets, so accurately predicting changes from a merger or bankruptcy should incorporate this behavior. This paper estimates a structural model of the US commercial vehicle market and demonstrates the importance of allowing for endogenous product offerings in the context of the $85 billion automotive industry bailout in 2009. Under alternate policies that facilitate an acquisition or liquidation of...
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作者：Akee, Randall; Copeland, William; Costello, E. Jane; Simeonova, Emilia
作者单位：University of California System; University of California Los Angeles; Duke University; Johns Hopkins University
摘要：We examine the effects of a quasi-experimental unconditional household income transfer on child emotional and behavioral health and personality traits. Using longitudinal data, we find that there are large beneficial effects on children's emotional and behavioral health and personality traits during adolescence. We find evidence that these effects are most pronounced for children who start out with the lowest initial endowments. The income intervention also results in improvements in parental ...
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作者：Okamoto, Noriaki
作者单位：Keio University
摘要：Ausubel (2004) introduces a new ascending-bid auction rule for multiple homogeneous objects, called the Ausubel auction, which is a dynamic counterpart of the Vickrey auction. He claims that in the Ausubel auction with private values, sincere bidding by all bidders is an ex post perfect equilibrium. However, we show that this claim does not hold in general by providing a counterexample. We then modify the Ausubel auction so that sincere bidding by all bidders is an ex post perfect equilibrium....
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作者：Lanteri, Andrea
作者单位：Duke University
摘要：This paper studies the business-cycle dynamics of secondary markets for physical capital and their effects on the macmeconomy. In the data, both capital reallocation and the price of used capital are procyclical. To rationalize these facts, I propose a model with endogenous partial irreversibility, where used investment goods are imperfect substitutes for new ones because of firm-level capital specificity. Equilibrium dynamics in the market for used capital induce countercyclical dispersion of...
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作者：Acemoglu, Daron; Restrepo, Pascual
作者单位：Massachusetts Institute of Technology (MIT); Boston University
摘要：We examine the concerns that new technologies will render labor redundant in a framework in which tasks previously performed by labor can be automated and new versions of existing tasks, in which labor has a comparative advantage, can be created. In a static version where capital is fixed and technology is exogenous, automation reduces employment and the labor share, and may even reduce wages, while the creation of new tasks has the opposite effects. Our full model endogenizes capital accumula...
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作者：Foarta, Dana
作者单位：Stanford University
摘要：This paper studies the welfare effects of a partial banking union in which cross-country transfers for bailouts are set at the supranational level, but policymakers in member countries decide the distribution of funds. This allows the self interested policymakers to extract rents in the bailout process. In equilibrium, such a banking union can actually lower the welfare of citizens in the country receiving transfers compared to the autarky case, as the receiving country must increase its share...
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作者：Jaravel, Xavier; Petkova, Neviana; Bell, Alex
作者单位：University of London; London School Economics & Political Science; United States Department of the Treasury; Harvard University
摘要：We establish the importance of team-specific capital in the typical inventor's career Using administrative tax and patent data for the population of US patent inventors from 1996 to 2012, we find that an inventor's premature death causes a large and long-lasting decline in their co-inventor's earnings and citation-weighted patents (-4 percent and 15 percent after 8 years, respectively), After ruling out firm disruption, network effects, and top-down spill-overs as main channels, we show that t...
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作者：Condra, Luke N.; Long, James D.; Shaver, Andrew C.; Wright, Austin L.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of Washington; University of Washington Seattle; Dartmouth College; University of Chicago
摘要：Competitive elections are essential to establishing the political legitimacy of democratizing regimes. We argue that insurgents undermine the state's mandate through electoral violence. We study insurgent violence during elections using newly declassified microdata on the conflict in Afghanistan. Our data track insurgent activity by hour to within meters of attack locations. Our results suggest that insurgents carefully calibrate their production of violence during elections to avoid harming c...
