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作者：Acemoglu, Daron; Ozdaglar, Asuman; Tahbaz-Salehi, Alireza
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Columbia University
摘要：Using a multisector general equilibrium model, we show that the interplay of idiosyncratic microeconomic shocks and sectoral heterogeneity results in systematic departures in the likelihood of large economic downturns relative to what is implied by the normal distribution. Such departures can emerge even though GDP fluctuations are approximately normally distributed away from the tails, highlighting the different nature of large economic downturns from regular business-cycle fluctuations. We f...
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作者：Leeper, Eric M.; Traum, Nora; Walker, Todd B.
作者单位：Indiana University System; Indiana University Bloomington; National Bureau of Economic Research; North Carolina State University; Indiana University System; Indiana University Bloomington
摘要：We quantify government spending multipliers in US data using Bayesian prior and posterior analysis of a monetary model with fiscal details and two distinct monetary-fiscal policy regimes. The combination of model specification, observable data, and relatively diffuse priors for some parameters lands posterior estimates in regions of the parameter space that yield fresh perspectives on the transmission mechanisms that underlie government spending multipliers. Short-run output multipliers are co...
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作者：Abdulkadiroglu, Atila; Angrist, Joshua D.; Narita, Yusuke; Pathak, Parag A.; Zarate, Roman A.
作者单位：Duke University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT); Yale University
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作者：Elias, Julio J.; Lacetera, Nicola; Macis, Mario; Salardi, Paola
作者单位：University of Toronto; University Toronto Mississauga; Johns Hopkins University; University of Toronto
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作者：Adao, Rodrigo; Costinot, Arnaud; Donaldson, Dave
作者单位：Princeton University; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Stanford University
摘要：We develop a methodology to construct nonparametric counterfactual predictions, free of functional form restrictions on preferences and technology, in neoclassical models of international trade. First, we establish the equivalence between such models and reduced exchange models in which countries directly exchange factor services. This equivalence implies that, for an arbitrary change in trade costs, counterfactual changes in the factor content of trade, factor prices, and welfare only depend ...
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作者：Kessler, Judd B.
作者单位：University of Pennsylvania
摘要：Providing information about contributions to public goods is known to generate further contributions. However, it is often impossible to provide verifiable information on contributions. Through a large-scale field experiment and a series of laboratory experiments, I show that nonbinding announcements of support for a public good encourage others to contribute, even when actual contributions might not or cannot be made. Providing a way to easily announce support for a charity increases donation...
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作者：Ottoni-Wilhelm, Mark; Vesterlund, Lise; Xie, Huan
作者单位：Purdue University System; Purdue University; Purdue University in Indianapolis; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; National Bureau of Economic Research; Concordia University - Canada
摘要：Researchers measure crowd-out around one level of charity output to identify whether giving is motivated by altruism and/or warm-glow. However, crowd-out depends on output, implying first that the power to reject pure altruism varies, and second that a single measurement of incomplete crowd-out can be rationalized by many different preferences. By instead measuring crowd-out at different output levels, we allow both for identification and for a novel and direct test of impure altruism. Using a...
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作者：Cascaldi-Garcia, Danilo
作者单位：University of Warwick
摘要：Kurmann and Otrok (2013) establish that the effects on economic activity from news on future productivity growth are similar to the effects from unexpected changes in the slope of the yield curve. This comment shows that these results become substantially weaker in the light of a recent update in the utilization-adjusted total factor productivity series produced by Fernald (2014).
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作者：Mylovanov, Tymofiy; Zapechelnyuk, Andriy
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Kyiv School of Economics; National Bank of Ukraine; University of St Andrews
摘要：Several agents with privately known social values compete for a prize. The prize is allocated based on the claims of the agents, and the winner is subject to a limited penalty if he makes a false claim. If the number of agents is large, the optimal mechanism places all agents above a threshold onto a shortlist along with a fraction of agents below the threshold, and then allocates the prize to a random agent on the shortlist. When the number of agents is small, the optimal mechanism allocates ...
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作者：Thomassen, Oyvind; Smith, Howard; Seiler, Stephan; Schiraldi, Pasquale
作者单位：Seoul National University (SNU); University of Oxford; Centre for Economic Policy Research - UK; Stanford University; University of London; London School Economics & Political Science
摘要：In many competitive settings, consumers buy multiple product categories, and some prefer to use a single firm, generating complementary cross-category price effects. To study pricing in supermarkets, an organizational form where these effects are internalized, we develop a multi-category, multi-seller demand model and estimate it using UK consumer data. This class of model is used widely in theoretical analysis of retail pricing. We quantify cross-category pricing effects and find that interna...
