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作者：Einav, Liran; Finkelstein, Amy; Gupta, Atul
作者单位：Stanford University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT)
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作者：Goldin, Claudia; Kerr, Sari Pekkala; Olivetti, Claudia; Barth, Erling
作者单位：Harvard University; Wellesley College; Boston College
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作者：Nyqvist, Martina Bjorkman; Jayachandran, Seema
作者单位：Stockholm School of Economics; Northwestern University
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作者：Zhang, Luyao; Levin, Dan
作者单位：University System of Ohio; Ohio State University; University System of Ohio; Ohio State University
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作者：Grossman, Gene M.; Helpman, Elhanan; Oberfield, Ezra; Sampson, Thomas
作者单位：Princeton University; Harvard University; University of London; London School Economics & Political Science
摘要：The evidence for the United States points to balanced growth despite falling investment-good prices and a less-than-unitary elasticity of substitution between capital and labor. This is inconsistent with the Uzawa Growth Theorem. We extend Uzawa's theorem to show that the introduction of human capital accumulation in the standard way does not resolve the puzzle. However, balanced growth is possible if education is endogenous and capital is more complementary with schooling than with raw labor....
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作者：Drozd, Lukasz A.; Serrano-Padial, Ricardo
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Philadelphia; Drexel University
摘要：We investigate the role of information technology (IT) in the collection of delinquent consumer debt. We argue that the widespread adoption of IT by the debt collection industry in the 1990s contributed to the observed expansion of unsecured risky lending such as credit cards. Our model stresses the importance of delinquency and private information about borrower solvency. The prevalence of delinquency implies that the costs of debt collection must be borne by lenders to sustain incentives to ...
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作者：Farhi, Emmanuel; Werning, Ivan
作者单位：Harvard University; Massachusetts Institute of Technology (MIT)
摘要：We study cross-country risk sharing as a second-best problem for members of a currency union using an open economy model with nominal rigidities and provide two key results. First, we show that if financial markets are incomplete, the value of gaining access to any given level of aggregate risk sharing is greater for countries that are members of a currency union. Second, we show that even if financial markets are complete, privately optimal risk sharing is constrained inefficient. A role emer...
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作者：Dix-Carneiro, Rafael; Kovak, Brian K.
作者单位：Duke University; Carnegie Mellon University
摘要：We study the evolution of trade liberalization's effects on Brazilian local labor markets. Regions facing larger tariff cuts experienced prolonged declines in formal sector employment and earnings relative to other regions. The impact of tariff changes on regional earnings 20 years after liberalization was three times the effect after 10 years. These increasing effects on regional earnings are inconsistent with conventional spatial equilibrium models, which predict declining effects due to spa...
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作者：Fagereng, Andreas; Guiso, Luigi; Pistaferri, Luigi
作者单位：Statistics Norway; Stanford University
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作者：Hill, Elaine; Ma, Lala
作者单位：University of Rochester; University of Kentucky
