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作者：Atkeson, Andrew; Burstein, Ariel
作者单位：University of California System; University of California Los Angeles
摘要：International relative prices across industrialized countries show large and systematic deviations from relative purchasing power parity. We embed a model of imperfect competition and variable markups in a quantitative model of international trade. We find that when our model is parameterized to match salient features of the data on international trade and market structure in the United States, it can reproduce deviations from relative purchasing power parity similar to those observed in the d...
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作者：Grossman, Gene A.; Rossi-Hansberg, Esteban
作者单位：Princeton University
摘要：We propose a theory of the global production process that focuses on tradeable tasks, and use it to study how falling costs of offshoring affect factor prices in the source country. We identify a productivity effect of task trade that benefits the factor whose tasks are more easily moved offshore. In the light of this effect, reductions in the cost of trading tasks can generate shared gains for all domestic factors, in contrast to the distributional conflict that typically results from reducti...
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作者：Stinebrickner, Ralph; Stinebrickner, Todd
作者单位：Western University (University of Western Ontario)
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作者：Fuchs-Schundeln, Nicola
作者单位：Harvard University
摘要：German reunification was a large, unexpected shock for East Germans. Exploiting German reunification as a natural experiment, I analyze the validity of the life-cycle consumption model. I derive three stylized features concerning the saving behavior of East versus West Germans after reunification: (i) East Germans have higher saving rates than West Germans; (ii) this East-West gap is increasing in age at reunification; and (iii) for every cohort, this gap is declining oiler time. I show that a...
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作者：Brender, Adi; Drazen, Allan
作者单位：Bank of Israel; University System of Maryland; University of Maryland College Park
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作者：Thornton, Rebecca L.
作者单位：University of Michigan System; University of Michigan
摘要：This paper evaluates an experiment in which individuals in rural Malawi were randomly assigned monetary incentives to learn their HIV results after being tested. Distance to the HIV results centers was also randomly assigned. Without any incentive, 34 percent of the participants learned their HIV results. However, even the smallest incentive doubled that share. Using the randomly assigned incentives and distance front results centers as instruments for the knowledge of HIV status, sexually act...
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作者：Cogley, Timothy; Sbordone, Argia M.
作者单位：University of California System; University of California Davis; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：Purely forward-looking versions of the New Keynesian Phillips curve (NKPC) generate too little inflation persistence. Some authors add ad hoc backward-looking terms to address this shortcoming. We hypothesize that inflation persistence results mainly from variation in the long-run trend component Of inflation, which we attribute to shifts in monetary policy. We derive a version of the NKPC that incorporates a time-varying inflation trend and examine whether it explains the dynamics of inflatio...
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作者：Caballero, Ricardo J.; Hoshi, Takeo; Kashyap, Anil K.
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of California System; University of California San Diego; University of Chicago; Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：Large Japanese banks often engaged in sham loan restructurings that kept credit flowing to otherwise insolvent borrowers (which we call zombies). We examine the implications of suppressing the normal competitive process whereby the zombies would shed workers and lose market share. The congestion created by the zombies reduces the profits for healthy firms, which discourages their entry and investment. We confirm that zombie-dominated industries exhibit more depressed job creation and destructi...
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作者：Baland, Jean-Marie; Robinson, James A.
作者单位：University of Namur; Harvard University
摘要：Many employment relationships concede rents to workers. Depending on the political institutions, the presence of such rents allows employers to use the threat of withdrawing them to control their workers' political behavior, such as their votes in the absence of secret ballot. We examine the effects of the introduction of the secret ballot in Chile in 1958 on voting behavior. Before the reforms, localities with more pervasive patron-client relationships fended to exhibit a much stronger suppor...
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作者：Blundell, Richard; Pistaferri, Luigi; Preston, Ian
作者单位：University of London; University College London; Stanford University
摘要：This paper examines the link between income and consumption inequality. We create panel data on consumption for the Panel study of Income dynamics using an imputation procedure based on food demand estimates from. the Consumer Expenditure Survey. We document a disjuncture between income and consumption inequality over the 1980s and show that it can be explained by changes in the persistence of income shocks. We find some partial insurance of permanent shocks, especially for the college educate...
