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作者：Kranton, Rachel E.; Sanders, Seth G.
作者单位：Duke University
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作者：Sacarny, Adam; Yokum, David; Agrawal, Shantanu
作者单位：Columbia University; National Bureau of Economic Research; CMS Alliance to Modernize Healthcare; Centers for Medicare & Medicaid Services
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作者：Jensen, Thais Lrkholm; Johannesen, Niels
作者单位：University of Copenhagen; University of Copenhagen
摘要：Did the financial crisis in 2007-2008 spread from distressed banks to households through a contraction of the credit supply? We study this question with a dataset that contains observations on all accounts in Danish banks as well as comprehensive information about individual account holders and banks. We document that banks exposed to the financial crisis reduced their lending relative to nonexposed banks, which in turn caused a significant decrease in the borrowing and spending of their custo...
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作者：Manning, Alan; Petrongolo, Barbara
作者单位：University of London; London School Economics & Political Science; University of London; London School Economics & Political Science; Queen Mary University London; University of London; Queen Mary University London
摘要：This paper models the optimal search strategies of the unemployed across space to characterize local labor markets. Our methodology allows for linkages between numerous areas, while preserving tractability. We estimate that labor markets are quite local, as the attractiveness of jobs to applicants sharply decays with distance. Also, workers are discouraged from searching in areas with strong competition from other job-seekers. However, as labor markets overlap, a local stimulus or transport im...
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作者：Pascali, Luigi
作者单位：Pompeu Fabra University; Barcelona School of Economics; University of Warwick; Centre for Economic Policy Research - UK
摘要：The 1870-1913 period marked the birth of the first era of trade globalization. How did this tremendous increase in trade affect economic development? This work isolates a causality channel by exploiting the fact that the introduction of the steamship in the shipping industry produced an asymmetric change in trade distances among countries. Before this invention, trade routes depended on wind patterns. The steamship reduced shipping costs and time in a disproportionate manner across countries a...
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作者：Ajayi, Kehinde F.; Friedman, Willa H.; Lucas, Adrienne M.
作者单位：Boston University; University of Houston System; University of Houston; University of Delaware; National Bureau of Economic Research
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作者：Duvendack, Maren; Palmer-Jones, Richard; Reed, W. Robert
作者单位：University of East Anglia; University of Canterbury
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作者：Ellis, Andrew; Piccione, Michele
作者单位：University of London; London School Economics & Political Science
摘要：We present a decision-theoretic analysis of an agent's understanding of the interdependencies in her choices. We provide the foundations for a simple and flexible model that allows the misperception of correlated risks. We introduce a framework in which the decision maker chooses a portfolio of assets among which she may misperceive the joint returns, and present simple axioms equivalent to a representation in which she attaches a probability to each possible joint distribution over returns an...
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作者：Babcock, Linda; Recalde, Maria P.; Vesterlund, Lise; Weingart, Laurie
作者单位：Carnegie Mellon University; Carnegie Mellon University; CGIAR; International Food Policy Research Institute (IFPRI); Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; National Bureau of Economic Research; Carnegie Mellon University
摘要：Gender differences in task allocations may sustain vertical gender segregation in labor markets. We examine the allocation of a task that everyone prefers be completed by someone else (writing a report, serving on a committee, etc.) and find evidence that women, more than men, volunteer, are asked to volunteer, and accept requests to volunteer for such tasks. Beliefs that women, more than men, say yes to tasks with low promotability appear as an important driver of these differences. If women ...
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作者：Del Negro, Marco; Eggertsson, Gauti; Ferrero, Andrea; Kiyotaki, Nobuhiro
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Brown University; University of Oxford; Princeton University
摘要：We introduce liquidity frictions into an otherwise standard DSGE model with nominal and real rigidities and ask: can a shock to the liquidity of private paper lead to a collapse in short-term nominal interest rates and a recession like the one associated with the 2008 US financial crisis? Once the nominal interest rate reaches the zero bound, what are the effects of interventions in which the government provides liquidity in exchange for illiquid private paper? We find that the effects of the ...
