2014

最新文章

• Mandatory versus Discretionary Spending: The Status Quo Effect AI翻译
  作者：Bowen, T. Renee; Chen, Ying; Eraslan, Huelya
  作者单位：Stanford University; Johns Hopkins University; Rice University
  摘要：Do mandatory spending programs such as Medicare improve efficiency? We analyze a model with two parties allocating a fixed budget to a public good and private transfers each period over an infinite horizon. We compare two institutions that differ in whether public good spending is discretionary or mandatory. We model mandatory spending as an endogenous status quo since it is enacted by law and remains in effect until changed. Mandatory programs result in higher public good spending; furthermor...
• Financial Globalization, Inequality, and the Rising Public Debt AI翻译
  作者：Azzimonti, Marina; de Francisco, Eva; Quadrini, Vincenzo
  作者单位：Federal Reserve System - USA; Federal Reserve Bank - Philadelphia; University System of Maryland; Towson University; University of Southern California
  摘要：During the last three decades government debt has increased in most developed countries. During the same period we have also observed a significant liberalization of international financial markets. We propose a multicountry model with incomplete markets and show that governments may choose higher levels of debt when financial markets become internationally integrated. We also show that public debt increases with the volatility of uninsurable income (idiosyncratic risk). To the extent that the...
• Equalizing Superstars: The Internet and the Democratization of Education AI翻译
  作者：Acemoglu, Daron; Laibson, David; List, John A.
  作者单位：Massachusetts Institute of Technology (MIT); Harvard University; University of Chicago
• Powering up China: Income Distributions and Residential Electricity Consumption AI翻译
  作者：Auffhammer, Maximilian; Wolfram, Catherine D.
  作者单位：University of California System; University of California Berkeley; University of California System; University of California Berkeley; National Bureau of Economic Research
• Unilateral Divorce, the Decreasing Gender Gap, and Married Women's Labor Force Participation AI翻译
  作者：Fernandez, Raquel; Wong, Joyce
  作者单位：New York University; International Monetary Fund
• Agricultural Productivity Differences across Countries AI翻译
  作者：Gollin, Douglas; Lagakos, David; Waugh, Michael E.
  作者单位：University of Oxford; University of California System; University of California San Diego; National Bureau of Economic Research; New York University
• Mandated Risk Retention in Mortgage Securitization: An Economist's View AI翻译
  作者：Willen, Paul
  作者单位：Federal Reserve System - USA; Federal Reserve Bank - Boston; National Bureau of Economic Research
• Vertical Integration and Input Flows AI翻译
  作者：Atalay, Enghin; Hortacsu, Ali; Syverson, Chad
  作者单位：University of Chicago; University of Chicago
  摘要：We use broad-based yet detailed data from the economy's goods-producing sectors to investigate firms' ownership of production chains. It does not appear that vertical ownership is primarily used to facilitate transfers of goods along the production chain, as is often presumed: roughly one-half of upstream establishments report no shipments to downstream establishments within the same firm. We propose an alternative explanation for vertical ownership, namely that it promotes efficient intrafirm...
• Is the United States Still a Land of Opportunity? Recent Trends in Intergenerational Mobility AI翻译
  作者：Chetty, Raj; Hendren, Nathaniel; Kline, Patrick; Saez, Emmanuel; Turner, Nicholas
  作者单位：Harvard University; Harvard University; University of California System; University of California Berkeley; United States Department of the Treasury
• The Growing Gap in Life Expectancy: Using the Future Elderly Model to Estimate Implications for Social Security and Medicare AI翻译
  作者：Goldman, Dana P.; Orszag, Peter R.
  作者单位：University of Southern California; Citigroup Incorporated