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作者：Roth, Alvin E.
作者单位：Stanford University
摘要：Marketplaces are often small parts of large markets, and both markets and marketplaces come in many varieties. Market design seeks to understand what marketplaces must accomplish to enable different kinds of markets. Marketplaces can have varying degrees of success, and there can be marketplace failures. I'll discuss labor markets like the market for new economists, and also markets for new lawyers and doctors that have suffered from the unraveling of appointment dates to well before employmen...
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作者：Dinerstein, Michael; Einav, Liran; Levin, Jonathan; Sundaresan, Neel
作者单位：University of Chicago; National Bureau of Economic Research; Stanford University; Stanford University; Microsoft
摘要：The platform design, the process that helps potential buyers on the internet navigate toward products they may purchase, plays a - critical role in reducing search frictions and determining market outcomes. We study a key - trade-off associated with two important roles of - efficient platform design: guiding consumers to their most desired product while also strengthening seller incentives to lower prices. We use simple theory to illustrate this, and then combine detailed browsing data from eB...
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作者：Hvide, Hans K.; Jones, Benjamin F.
作者单位：University of Bergen; Center for Economic & Policy Research (CEPR); Northwestern University; National Bureau of Economic Research
摘要：National policies take varied approaches to encouraging university-based innovation. This paper studies a natural experiment: the end of the professor's privilege in Norway, where university researchers previously enjoyed full rights to their innovations. Upon the reform, Norway moved toward the typical US model, where the university holds majority rights. Using comprehensive data on Norwegian workers, firms, and patents, we find a 50 percent decline in both entrepreneurship and patenting rate...
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作者：Amior, Michael; Manning, Alan
作者单位：Hebrew University of Jerusalem; University of London; London School Economics & Political Science
摘要：Differences in employment-population ratios across US commuting zones have persisted for many decades. We claim these disparities represent real gaps in economic opportunity for individuals of fixed characteristics. These gaps persist despite a strong migratory response, and we attribute this to high persistence in labor demand shocks. These trends generate a race between local employment and population: population always lags behind employment, yielding persistent deviations in employment rat...
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作者：Spenkuch, Joerg L.; Montagnes, B. Pablo; Magleby, Daniel B.
作者单位：Northwestern University; Emory University; State University of New York (SUNY) System; Binghamton University, SUNY
摘要：In the US Senate, roll calls are held in alphabetical order. We document that senators early in the order are less likely to vote with the majority of their own party than those whose last name places them at the end of the alphabet. To speak to the mechanism behind this result, we develop a simple model of sequential voting, in which forward-looking senators rely on backward induction in order to free ride on their colleagues. Estimating our model structurally, we find that this form of strat...
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作者：Chahrour, Ryan; Jurado, Kyle
作者单位：Boston College; Duke University
摘要：The literature on belief-driven business cycles treats news and noise as distinct representations of agents' beliefs. We prove they are empirically the same. Our result lets us isolate the importance of purely belief-driven fluctuations. Using three prominent estimated models, we show that existing research understates the importance of pure beliefs. We also explain how differences in both economic environment and information structure affect the estimated importance of pure beliefs.
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作者：Na, Seunghoon; Schmitt-Grohe, Stephanie; Uribe, Martin; Yue, Vivian
作者单位：Purdue University System; Purdue University; Columbia University; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; Emory University; Federal Reserve System - USA; Federal Reserve Bank - Atlanta
摘要：A salient characteristic of sovereign defaults is that they are typically accompanied by large devaluations. This paper presents new evidence of this empirical regularity known as the Twin Ds and proposes a model that rationalizes it as an optimal policy outcome. The model combines limited enforcement of debt contracts and downward nominal wage rigidity. Under optimal policy, default is shown to occur during contractions. The role of default is to free up resources for domestic absorption, and...
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作者：Hershbein, Brad; Kahn, Lisa B.
作者单位：W.E. Upjohn Institute for Employment Research; IZA Institute Labor Economics; Yale University; National Bureau of Economic Research
摘要：We show that skill requirements in job vacancy postings differentially increased in MSAs that were hit hard by the Great Recession, relative to less - hard-hit areas. These increases persist through at least the end of 2015 and are correlated with increases in capital investments, both at the MSA and - firm levels. We also find that effects are most pronounced in - routine-cognitive occupations, which exhibit relative wage growth as well. We argue that this evidence is consistent with the rest...
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作者：McCaig, Brian; Pavcnik, Nina
作者单位：Wilfrid Laurier University; Dartmouth College
摘要：We study the effects of a positive export shock on labor allocation between the informal, microenterprise sector and the formal firm sector in a low-income country. The United States-Vietnam Bilateral Trade Agreement led to large reductions in US tariffs on Vietnamese exports. We find that the share of manufacturing workers in Vietnam in the formal sector increased by 5 percentage points in response to the US tariff reductions. The reallocation was greater for workers in more internationally i...
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作者：Crawford, Gregory S.; Pavanini, Nicola; Schivardi, Fabiano
作者单位：University of Zurich; Center for Economic & Policy Research (CEPR); Tilburg University; Luiss Guido Carli University
摘要：We study the effects of asymmetric information and imperfect competition in the market for small business lines of credit. We estimate a structural model of credit demand, loan use, pricing, and firm default using matched firm-bank data from Italy. We find evidence of adverse selection in the form of a positive correlation between the unobserved determinants of demand for credit and default. Our counterfactual experiments show that while increases in adverse selection increase prices and defau...
