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作者：Meyer, Bruce D.; Sullivan, James X.
作者单位：University of Chicago; University of Notre Dame
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作者：Clark, Damon; Royer, Heather
作者单位：University of California System; University of California Irvine; University of California System; University of California Santa Barbara
摘要：There is a strong, positive, and well-documented correlation between education and health outcomes. In this paper, we attempt to understand to what extent this relationship is causal. Our approach exploits two changes to British compulsory schooling laws that generated sharp across-cohort differences in educational attainment. Using regression discontinuity methods, we find the reforms did not affect health although the reforms impacted educational attainment and wages. Our results suggest cau...
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作者：Gagnepain, Philippe; Ivaldi, Marc; Martimort, David
作者单位：heSam Universite; Universite Pantheon-Sorbonne; Paris School of Economics; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Paris School of Economics
摘要：Contract theory claims that renegotiation prevents attainment of the efficient solution that could be obtained under full commitment. Assessing the cost of renegotiation remains an open issue from an empirical viewpoint. We fit a structural principal-agent model with renegotiation on a set of contracts for urban transport services. The model captures two important features of the industry as only two types of contracts are used (fixed price and cost-plus) and subsidies are greater following a ...
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作者：Garcia-Perez, Monica
作者单位：Minnesota State Colleges & Universities; Saint Cloud State University
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作者：Stevenson, Betsey; Wolfers, Justin
作者单位：University of Michigan System; University of Michigan; University of Michigan System; University of Michigan
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作者：Koren, Miklos; Tenreyro, Silvana
作者单位：Central European University; University of London; London School Economics & Political Science
摘要：Economies at early stages of development are frequently shaken by large changes in growth rates, whereas advanced economies tend to experience relatively stable growth rates. To explain this pattern, we propose a model of technological diversification. Production makes use of input-varieties that are subject to imperfectly correlated shocks. Endogenous variety adoption by firms raises average productivity and provides diversification benefits against variety-specific shocks. Firm-level and agg...
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作者：Field, Erica; Pande, Rohini; Papp, John; Rigol, Natalia
作者单位：Duke University; Harvard University; Massachusetts Institute of Technology (MIT)
摘要：Do the repayment requirements of the classic microfinance contract inhibit investment in high-return but illiquid business opportunities among the poor? Using a field experiment, we compare the classic contract which requires that repayment begin immediately after loan disbursement to a contract that includes a two-month grace period. The provision of a grace period increased short-run business investment and long-run profits but also default rates. The results, thus, indicate that debt contra...
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作者：Correia, Isabel; Farhi, Emmanuel; Nicolini, Juan Pablo; Teles, Pedro
作者单位：Banco de Portugal; Universidade Catolica Portuguesa; Harvard University; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; Universidad Torcuato Di Tella
摘要：When the zero lower bound on nominal interest rates binds, monetary policy cannot provide appropriate stimulus. We show that, in the standard New Keynesian model, tax policy can deliver such stimulus at no cost and in a time-consistent manner. There is no need to use inefficient policies such as wasteful public spending or future commitments to low interest rates. (JEL E12, E43, E52, E62, H20)
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作者：Hendel, Igal; Nevo, Aviv
作者单位：Northwestern University
摘要：We study intertemporal price discrimination when consumers can store for future consumption needs. We offer a simple model of demand dynamics, which we estimate using market-level data. Optimal pricing involves temporary price reductions that enable sellers to discriminate between price sensitive consumers, who stockpile for future consumption, and less price-sensitive consumers, who do not stockpile. We empirically quantify the impact of intertemporal price discrimination on profits and welfa...
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作者：Autor, David H.; Dorn, David; Hanson, Gordon H.
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of California System; University of California San Diego
摘要：We analyze the effect of rising Chinese import competition between 1990 and 2007 on US local labor markets, exploiting cross-market variation in import exposure stemming from initial differences in industry specialization and instrumenting for US imports using changes in Chinese imports by other high-income countries. Rising imports cause higher unemployment, lower labor force participation, and reduced wages in local labor markets that house import-competing manufacturing industries. In our m...
