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作者：Kellogg, Ryan
作者单位：University of Michigan System; University of Michigan; National Bureau of Economic Research
摘要：This paper estimates the response of investment to changes in uncertainty using data on oil drilling in Texas and the expected volatility of the future price of oil. Using a dynamic model of firms' investment problem, I find that: (i) the response of drilling activity to changes in price volatility has a magnitude consistent with the optimal response prescribed by theory, (ii) the cost of failing to respond to volatility shocks is economically significant, and (iii) implied volatility data der...
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作者：Einav, Liran; Levin, Jonathan; Popov, Igor; Sundaresan, Neel
作者单位：Stanford University; National Bureau of Economic Research; eBay Inc.
摘要：Mr. Spitz said he was recently stopped at a traffic light and the sun was bothering his eyes. By the time the light turned green, he had used his phone to order and pay for sunglasses.
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作者：Hatfield, John William; Kojima, Fuhito; Kominers, Scott Duke
作者单位：University of Texas System; University of Texas Austin; Stanford University; Harvard University; Harvard University; Harvard University
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作者：Ho, Kate; Pakes, Ariel
作者单位：Columbia University; Harvard University
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作者：Fehr, Ernst; Tyran, Jean-Robert
作者单位：University of Zurich; University of Vienna; University of Copenhagen
摘要：The data in Fehr and Tyran (2001) and Petersen and Winn (2014) show that money illusion plays an important role in nominal price adjustment after a fully anticipated negative monetary shock. Money illusion affects subjects' expectations, and causes pronounced nominal inertia after a negative shock but much less inertia after a positive shock. Thus Petersen and Winn (2014) provide a misleading interpretation of both our and their own data.
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作者：Figlio, David; Guryan, Jonathan; Karbownik, Krzysztof; Roth, Jeffrey
作者单位：Northwestern University; National Bureau of Economic Research; Uppsala University
摘要：We make use of a new data resource-merged birth and school records for all children born in Florida from 1992 to 2002-to study the relationship between birth weight and cognitive development. Using singletons as well as twin and sibling fixed effects models, we find that the effects of early health on cognitive development are essentially constant through the school career; that these effects are similar across a wide range of family backgrounds; and that they are invariant to measures of scho...
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作者：Dahl, Gordon B.; Loken, Katrine V.; Mogstad, Magne
作者单位：University of California System; University of California San Diego; University of Bergen; University of London; University College London
摘要：We estimate peer effects in paid paternity leave in Norway using a regression discontinuity design. Coworkers and brothers are 11 and 15 percentage points, respectively, more likely to take paternity leave if their peer was exogenously induced to take up leave. The most likely mechanism is information transmission, including increased knowledge of how an employer will react. The estimated peer effect snowballs over time, as the first peer interacts with a second peer, the second peer with a th...
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作者：Bagger, Jesper; Fontaine, Francois; Postel-Vinay, Fabien; Robin, Jean-Marc
作者单位：University of London; Royal Holloway University London; College of American Pathologists; Universite de Lorraine; Centre National de la Recherche Scientifique (CNRS); Institut Polytechnique de Paris; ENSAE Paris; University of London; University College London; Institut d'Etudes Politiques Paris (Sciences Po); Institut d'Etudes Politiques Paris (Sciences Po); University of London; University College London
摘要：We develop and estimate an equilibrium job search model of worker careers, allowing for human capital accumulation, employer heterogeneity, and individual-level shocks. Wage growth is decomposed into contributions of human capital and job search, within and between jobs. Human capital accumulation is largest for highly educated workers. The contribution from job search to wage growth, both within and between jobs, declines over the first ten years of a career-the job-shopping phase of a workin...
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作者：Acemoglu, Daron; Autor, David; Dorn, David; Hanson, Gordon H.; Price, Brendan
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; IZA Institute Labor Economics; University of California System; University of California San Diego
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作者：Carroll, Christopher D.; Slacalek, Jiri; Tokuoka, Kiichi
作者单位：Johns Hopkins University; European Central Bank
