-
作者：Duggan, Mark; Morton, Fiona Scott
作者单位：University System of Maryland; University of Maryland College Park; Yale University
-
作者：Tanaka, Tomomi; Camerer, Colin F.; Nguyen, Quang
作者单位：Arizona State University; Arizona State University-Tempe; California Institute of Technology; Universite Lyon 2; Centre National de la Recherche Scientifique (CNRS)
-
作者：Lerner, Josh; Malmendier, Ulrike
作者单位：Harvard University; University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：We analyze how contractibility affects contract design A major concern when designing research agreements is that researchers use their funding to subsidize other projects We show that, when research activities are not contractible, an option contract is optimal. The financing firm obtains the option to terminate the agreement and, in case of termination, broad property rights. The threat of termination deters researchers from cross-subsidization, and the cost of exercising the termination opt...
-
作者：Mavroeidis, Sophocles
作者单位：Brown University
-
作者：Farmer, Roger E. A.; Waggoner, Daniel F.; Zha, Tao
作者单位：University of California System; University of California Los Angeles; Federal Reserve System - USA; Federal Reserve Bank - Atlanta; Emory University
-
作者：Woodford, Michael
作者单位：Columbia University
摘要：The paper considers optimal monetary stabilization policy in a forward-looking model, when the central bank recognizes that private sector expectations need not be precisely model-consistent, and wishes to choose a policy that will be as good as possible in the case of any beliefs that are close enough to model-consistency. It is found that commitment continues to be important for optimal policy, that the optimal long-run inflation target is unaffected by the degree of potential distortion of ...
-
作者：Davig, Troy; Leeper, Eric M.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Kansas City; Indiana University System; Indiana University Bloomington; National Bureau of Economic Research
-
作者：Bernard, Andrew B.; Redding, Stephen J.; Schott, Peter K.
作者单位：Dartmouth College; University of London; London School Economics & Political Science; Yale University
摘要：This paper examines the frequency, pervasiveness, and determinants of product switching by US manufacturing firms. We find that one-half of firms alter their mix of five-digit SIC products every five years, that product switching is correlated with both firm- and firm-product attributes, and that product adding and dropping induce large changes in firm scope. The behavior we observe is consistent with a natural generalization of existing theories of industry dynamics that incorporates endogeno...
-
作者：Conley, Timothy G.; Udry, Christopher R.
作者单位：University of Chicago; Yale University
摘要：This paper investigates the role of social learning in the diffusion of a new agricultural technology in Ghana. We use unique data on farmers' communication patterns to define each individual's information neighborhood. Conditional on many potentially confounding variables, we find evidence that farmers adjust their inputs to align with those of their information neighbors who were surprisingly successful in previous periods. The relationship of these input adjustments to experience further in...
-
作者：Carpenter, Jeffrey; Matthews, Peter Hans; Schirm, John
作者单位：Middlebury College; Alphabet Inc.; Google Incorporated
