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作者：Krawczyk, Michal; Le Lec, Fabrice
作者单位：University of Warsaw; heSam Universite; Universite Pantheon-Sorbonne
摘要：Based on experimental dictator games with probabilistic prospects, Brock, Lange, and Ozbay (2013) conclude that neither ex post nor ex ante comparisons can fully account for observed behavior. We argue that their conclusion that ex ante comparisons cannot explain the data is at best weakly supported by their results, and do so on three grounds: (i) the absence of significant differences between the most relevant treatments, (ii) the implicit assumption of subjects' risk neutrality, and (iii) t...
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作者：Allcott, Hunt; Collard-Wexler, Allan; O'Connell, Stephen D.
作者单位：New York University; National Bureau of Economic Research; Duke University; City University of New York (CUNY) System
摘要：We estimate the effects of electricity shortages on Indian manufacturers, instrumenting with supply shifts from hydroelectric power availability. We estimate that India's average reported level of shortages reduces the average plant's revenues and producer surplus by 5 to 10 percent, but average productivity losses are significantly smaller because most inputs can be stored during outages. Shortages distort the plant size distribution, as there are significant economies of scale in generator c...
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作者：Korinek, Anton; Simsek, Alp
作者单位：Johns Hopkins University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT); Centre for Economic Policy Research - UK
摘要：We investigate the role of macroprudential policies in mitigating liquidity traps. When constrained households engage in deleveraging, the interest rate needs to fall to induce unconstrained households to pick up the decline in aggregate demand. If the fall in the interest rate is limited by the zero lower bound, aggregate demand is insufficient and the economy enters a liquidity trap. In this environment, households' ex ante leverage and insurance decisions are associated with aggregate deman...
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作者：Schmieder, Johannes F.; von Wachter, Till; Bender, Stefan
作者单位：Boston University; National Bureau of Economic Research; IZA Institute Labor Economics; University of California System; University of California Los Angeles; Centre for Economic Policy Research - UK; Deutsche Bundesbank
摘要：We estimate that unemployment insurance (UI) extensions reduce reemployment wages using sharp age discontinuities in UI eligibility in Germany. We show this effect combines two key policy parameters: the effect of UI on reservation wages and the effect of nonemployment durations on wage offers. Our framework implies if UI extensions do not affect wages conditional on duration, then reservation wages do not bind. We derive resulting instrumental variable estimates for the effect of nonemploymen...
