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作者：Lee, Ronald D.
作者单位：University of California System; University of California Berkeley
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作者：Melitz, Marc J.; Redding, Stephen J.
作者单位：Harvard University; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; Princeton University; Princeton University
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作者：Ambrus, Attila; Mobius, Markus; Szeidl, Adam
作者单位：Duke University; Microsoft; University of Michigan System; University of Michigan; National Bureau of Economic Research; Central European University
摘要：We develop a model in which connections between individuals serve as social collateral to enforce informal insurance payments. We show that: (i) The degree of insurance is governed by the expansiveness of the network, measured with the per capita number of connections that groups have with the rest of the community. Two-dimensional networks-like real-world networks in Peruvian villages-are sufficiently expansive to allow very good risk-sharing. (ii) In - second-best arrangements, insurance is ...
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作者：Jackson, Matthew O.; Yariv, Leeat
作者单位：Stanford University; The Santa Fe Institute; Canadian Institute for Advanced Research (CIFAR); California Institute of Technology
摘要：We study collective decisions by time-discounting individuals choosing a common consumption stream. We show that with any heterogeneity in time preferences, utilitarian aggregation necessitates a present bias. In lab experiments three quarters of social planners exhibited present biases, and less than two percent were time consistent. Roughly a third of subjects acted as if they were pure utilitarians, and the rest chose as if they also had varying degrees of distributional concerns.
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作者：Chaney, Thomas
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：Motivated by empirical evidence I uncover on the dynamics of French firms' exports, I offer a novel theory of trade frictions. Firms export only into markets where they have a contact. They search directly for new trading partners, but also use their existing network of contacts to search remotely for new partners. I characterize the dynamic formation of an international network of exporters in this model. Structurally, I estimate this model on French data and confirm its predictions regarding...
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作者：Armenter, Roc; Koren, Miklos
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Philadelphia; Central European University; HUN-REN; HUN-REN Centre for Economic & Regional Studies; Center for Economic & Policy Research (CEPR)
摘要：Many of the facts about the extensive margin of trade-which firms export, and how many products are sent to how many destinations-are consistent with a surprisingly large class of trade models because of the sparse nature of trade data. We propose a statistical model to account for sparsity, formalizing the assignment of trade shipments to country, product, and firm categories as balls falling into bins. The balls-and-bins model quantitatively reproduces the pattern of zero product-and firm-le...
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作者：Bailey, Michelle Stegman; Weathers, Robert R., II
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作者：Hoxby, Caroline M.
作者单位：Stanford University
摘要：I describe the two extremes of traditional American postsecondary education (PE): nonselective (NSPE) and highly selective (HSPE). I explain the logic of each and why each is economically sustainable. This focus on the extremes is without much loss of generality because other PE is, essentially, a weighted average of the two. To keep the economics clear, I focus on undergraduate education. 1 Having explained the economics of the two extreme models, I assess how each could incorporate online PE...
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作者：Padoa-Schioppa, Camillo; Rustichini, Aldo
作者单位：Washington University (WUSTL); University of Minnesota System; University of Minnesota Twin Cities
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作者：Desmet, Klaus; Rossi-Hansberg, Esteban
作者单位：Universidad Carlos III de Madrid; Princeton University
摘要：We present a theory of spatial development. Manufacturing and services firms located in a continuous geographic area choose each period how much to innovate. Firms trade subject to transport costs and technology diffuses spatially. We apply the model to study the evolution of the US economy in the last half-century and find that it can generate the reduction in the manufacturing employment share, the increased spatial concentration of services, the growth in service productivity starting in th...
