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作者：Jessoe, Katrina; Rapson, David
作者单位：University of California System; University of California Davis; University of California System; University of California Davis
摘要：Imperfect information about product attributes inhibits efficiency in many choice settings, but can be overcome by providing simple, low-cost information. We use a randomized control trial to test the effect of high-frequency information about residential electricity usage on the price elasticity of demand. Informed households are three standard deviations more responsive to temporary price increases, an effect that is not attributable to price salience. Conservation extends beyond pricing eve...
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作者：Gopinath, Gita; Neiman, Brent
作者单位：Harvard University; University of Chicago
摘要：We empirically characterize the mechanics of trade adjustment during the Argentine crisis. Though imports collapsed by 70 percent from 2000 to 2002, the entry and exit of firms or products at the country level played a small role. The within-firm churning of imported inputs, however, played a sizeable role. We build a model of trade in intermediate inputs with heterogeneous firms, fixed import costs, and roundabout production. Import demand is non-homothetic and the implications of an import p...
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作者：Ossa, Ralph
作者单位：University of Chicago
摘要：How large are optimal tariffs? What tariffs would prevail in a worldwide trade war? How costly would a breakdown of international trade policy cooperation be? And what is the scope for future multilateral trade negotiations? I address these and other questions using a unified framework which nests traditional, new trade, and political economy motives for protection. I find that optimal tariffs average 62 percent, world trade war tariffs average 63 percent, the government welfare losses from a ...
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作者：Daughety, Andrew F.; Reinganum, Jennifer F.
作者单位：Vanderbilt University
摘要：A significant policy concern about the emerging plaintiff legal funding industry is that loans will undermine settlement. When the plaintiff has private information about damages, we find that the optimal (plaintiff-funder) loan induces all plaintiff types to make the same demand, resulting in full settlement; implementation may entail a very high repayment amount. Plaintiffs' attorneys with contingent-fee compensation benefit from such financing, as it eliminates trial costs. When the defenda...
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作者：Amiti, Mary; Itskhoki, Oleg; Konings, Jozef
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Princeton University; KU Leuven; University of Ljubljana; University of Ljubljana
摘要：Large exporters are simultaneously large importers. We show that this pattern is key to understanding low aggregate exchange rate pass-through as well as the variation in pass-through across exporters. We develop a theoretical framework with variable markups and imported inputs, which predicts that firms with high import shares and high market shares have low exchange rate pass-through. We test and quantify the theoretical mechanism using Belgian firm-product-level data on imports and exports....
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作者：Aguiar, Mark; Amador, Manuel; Farhi, Emmanuel; Gopinath, Gita
作者单位：Princeton University; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; Harvard University
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作者：Baker, Scott R.; Bloom, Nicholas; Canes-Wrone, Brandice; Davis, Steven J.; Rodden, Jonathan
作者单位：Stanford University; Princeton University; University of Chicago
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作者：Goldin, Claudia
作者单位：Harvard University
摘要：The converging roles of men and women are among the grandest advances in society and the economy in the last century. These aspects of the grand gender convergence are figurative chapters in a history of gender roles. But what must the last chapter contain for there to be equality in the labor market? The answer may come as a surprise. The solution does not (necessarily) have to involve government intervention and it need not make men more responsible in the home (although that wouldn't hurt)....
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作者：Allen, Jason; Clark, Robert; Houde, Jean-Francois
作者单位：Bank of Canada; Universite de Montreal; HEC Montreal; Universite de Montreal; University of Pennsylvania
摘要：We examine the relationship between concentration and price dispersion using variation induced by a merger in the Canadian mortgage market. Since interest rates are determined through a search and negotiation process, consolidation weakens consumers' bargaining positions. We use reduced-form techniques to estimate the mergers' distributional impact, and show that competition benefits only consumers at the bottom and middle of the transaction price distribution, and that mergers reduce the disp...
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作者：Guttman, Ilan; Kremer, Ilan; Skrzypacz, Andrzej
作者单位：New York University; Hebrew University of Jerusalem; Hebrew University of Jerusalem; University of Warwick; Stanford University
摘要：We examine a dynamic model of voluntary disclosure of multiple pieces of private information. In our model, a manager of a firm who may learn multiple signals over time interacts with a competitive capital market and maximizes payoffs that increase in both period prices. We show (perhaps surprisingly) that in equilibrium later disclosures are interpreted more favorably even though the time the manager obtains the signals is independent of the value of the firm. We also provide sufficient condi...
