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作者：Abaluck, Jason; Gruber, Jonathan
作者单位：Massachusetts Institute of Technology (MIT)
摘要：We evaluate the choices of elders across their insurance options under the Medicare Part D Prescription Drug plan, using a unique dataset of prescription drug claims matched to information on the characteristics of choice sets. We document that elders place much more weight on plan premiums than on expected out-of-pocket costs; value plan financial characteristics beyond any impacts on their own financial expenses or risk; and place almost no value on variance-reducing aspects of plans. Partia...
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作者：James, Jonathan G.; Lawler, Phillip
作者单位：Swansea University
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作者：Shy, Oz; Wang, Zhu
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Boston; Federal Reserve System - USA; Federal Reserve Bank - Kansas City
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作者：Pissarides, Christopher A.
作者单位：University of London; London School Economics & Political Science
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作者：Aw, Bee Yan; Roberts, Mark J.; Xu, Daniel Yi
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; National Bureau of Economic Research; New York University
摘要：This paper estimates a dynamic structural model of a producer's decision to invest in R&D and export, allowing both choices to endogenously affect the future path of productivity. Using plant-level data for the Taiwanese electronics industry, both activities are found to have a positive effect on the plant's future productivity. This in turn drives more plants to self-select into both activities, contributing to further productivity gains. Simulations of an expansion of the export market are s...
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作者：Wright, Jonathan H.
作者单位：Johns Hopkins University
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作者：Diamond, Peter
作者单位：Massachusetts Institute of Technology (MIT)
摘要：The element of time is a chief cause of those difficulties in economic investigations which make it necessary for man with his limited powers to go step by step; breaking up a complex question, studying one bit at a time, and at last combining his partial solutions into a more or less complete solution of the whole riddle.. The more the issue is thus narrowed, the more exactly can it be handled: but also the less closely does it correspond to real life. Each exact and firm handling of a narrow...
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作者：Baillon, Aurelien; L'Haridon, Olivier; Placido, Laetitia
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Sorbonne Universite; Universite de Bretagne Occidentale; Hautes Etudes Commerciales (HEC) Paris; Centre National de la Recherche Scientifique (CNRS)
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作者：Lang, Kevin; Manove, Michael
作者单位：Boston University
摘要：Using a model of statistical discrimination and educational sorting, we explain why blacks get more education than whites of similar cognitive ability, and we explore how the Armed Forces Qualification Test (AFQT), wages, and education are related. The model suggests that one should control for both AFQT and education when comparing the earnings of blacks and whites, in which case a substantial black-white wage differential emerges. We reject the hypothesis that differences in school quality b...
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作者：Benigno, Pierpaolo; Ricci, Luca Antonio
作者单位：Luiss Guido Carli University; International Monetary Fund
摘要：The macroeconomic implications of downward nominal wage rigidities are analyzed via a dynamic stochastic general equilibrium model featuring aggregate and idiosyncratic shocks. A closed-form solution for a long-run Phillips curve relates average output gap to average wage inflation: it is virtually vertical at high inflation and flattens at low inflation. Macroeconomic volatility shifts the curve outwards and reduces output. The results imply that stabilization policies play an important role,...
