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作者：Sims, Christopher A.
作者单位：Princeton University
摘要：Drastic changes in central bank operations and monetary institutions in recent years have made previously standard approaches to explaining the determination of the price level obsolete. Recent expansions of central bank balance sheets and of the levels of rich-country sovereign debt, as well as the evolving political economy of the European Monetary Union, have made it clear that fiscal policy and monetary policy are intertwined. Our thinking and teaching about inflation, monetary policy, and...
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作者：Chen, M. Keith
作者单位：Yale University
摘要：Languages differ widely in the ways they encode time. I test the hypothesis that the languages that grammatically associate the future and the present, foster future-oriented behavior. This prediction arises naturally when well-documented effects of language structure are merged with models of intertemporal choice. Empirically, I find that speakers of such languages: save more, retire with more wealth, smoke less, practice safer sex, and are less obese. This holds both across countries and wit...
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作者：Hagedorn, Marcus; Manovskii, Iourii
作者单位：University of Pennsylvania
摘要：We consider a model with on-the-job search where current wages depend only on current aggregate labor market conditions and idiosyncratic match-specific productivities. We show theoretically that the model replicates the findings in Bils (1985) and Beaudry and DiNardo (1991) on the history dependence in wages. We develop a method to measure match qualities in the data and show empirically that various variables summarizing past aggregate labor market conditions have explanatory power for curre...
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作者：Nocke, Volker; Whinston, Michael D.
作者单位：University of Mannheim; Northwestern University
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作者：Feng, Shuaizhang; Hu, Yingyao
作者单位：Shanghai University of Finance & Economics; Johns Hopkins University
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作者：Bown, Chad P.; Crowley, Meredith A.
作者单位：The World Bank; Federal Reserve System - USA; Federal Reserve Bank - Chicago
