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作者：Bloom, Nicholas; Sadun, Raffaella; Van Reenen, John
作者单位：Stanford University; Harvard University; University of London; London School Economics & Political Science
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作者：Dickstein, Michael J.; Duggan, Mark; Orsini, Joe; Tebaldi, Pietro
作者单位：Stanford University
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作者：Gordon, Robert J.
作者单位：Northwestern University
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作者：Jack, Kelsey; Smith, Grant
作者单位：Tufts University; University of Cape Town
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作者：Jurado, Kyle; Ludvigson, Sydney C.; Ng, Serena
作者单位：Columbia University; New York University; National Bureau of Economic Research
摘要：This paper exploits a data rich environment to provide direct econometric estimates of time-varying macroeconomic uncertainty. Our estimates display significant independent variations from popular uncertainty proxies, suggesting that much of the variation in the proxies is not driven by uncertainty. Quantitatively important uncertainty episodes appear far more infrequently than indicated by popular uncertainty proxies, but when they do occur, they are larger, more persistent, and are more corr...
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作者：Coeurdacier, Nicolas; Guibaud, Stephane; Jin, Keyu
作者单位：Centre for Economic Policy Research - UK; University of London; London School Economics & Political Science
摘要：We show that in an open-economy OLG model, the interaction between growth differentials and household credit constraints-more severe in fast-growing countries-can explain three prominent global trends: a divergence in private saving rates between advanced and emerging economies, large net capital outflows from the latter, and a sustained decline in the world interest rate. Micro-level evidence on the evolution of age-saving profiles in the US and China corroborates our mechanism. Quantitativel...
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作者：Echenique, Federico; Yenmez, M. Bumin
作者单位：California Institute of Technology; Carnegie Mellon University
摘要：We characterize choice rules for schools that regard students as substitutes while expressing preferences for a diverse student body. The stable (or fair) assignment of students to schools requires the latter to regard the former as substitutes. Such a requirement is in conflict with the reality of schools' preferences for diversity. We show that the conflict can be useful, in the sense that certain unique rules emerge from imposing both considerations. We also provide welfare comparisons for ...
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作者：Braguinsky, Serguey; Ohyama, Atsushi; Okazaki, Tetsuji; Syverson, Chad
作者单位：Carnegie Mellon University; National Bureau of Economic Research; Hokkaido University; University of Tokyo; University of Chicago
摘要：We explore how changes in ownership affect the productivity and profitability of producers. Using detailed data from the Japanese cotton spinning industry at the turn of the last century, we find that acquired firms' production facilities were not on average less physically productive than the plants of the acquiring firms before acquisition. They were much less profitable, however, due to higher inventory levels and lower capacity utilization-differences that reflected problems in managing th...
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作者：Baker, Malcolm; Wurgler, Jeffrey
作者单位：Harvard University; National Bureau of Economic Research; New York University
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作者：Beyer, Harald; Hastings, Justine; Neilson, Christopher; Zimmerman, Seth
作者单位：Brown University; National Bureau of Economic Research; New York University; University of Chicago
