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最新文章

• The missing motivation in macroeconomics AI翻译
  作者：Akerlof, George A.
  作者单位：University of California System; University of California Berkeley
• Credible commitment to optimal escape from a liquidity trap: The role of the balance sheet of an independent central bank AI翻译
  作者：Jeanne, Olivier; Svensson, Lars E. O.
  作者单位：International Monetary Fund; Princeton University; National Bureau of Economic Research
• Consumer bankruptcy: A fresh start AI翻译
  作者：Livshits, Igor; MacGee, James; Tertilt, Michele
  作者单位：Western University (University of Western Ontario); Stanford University
• Internet advertising and the generalized second-price auction: Selling billions of dollars worth of keywords AI翻译
  作者：Edelman, Benjamin; Ostrovsky, Michael; Schwarz, Michael
  作者单位：Harvard University; Stanford University; Yahoo! Inc
  摘要：We investigate the generalized second-price (GSP) auction, a new mechanism used by search engines to sell online advertising. Although GSP looks similar to the Vickrey-Clarke-Groves (VCG) mechanism, its properties are very different. Unlike the VCG mechanism, GSP generally does not have an equilibrium in dominant strategies, and truth-telling is not an equilibrium of GSP. To analyze the properties of GSP, we describe the generalized English auction that corresponds to GSP and show that it has ...
• Minimax play at Wimbledon: Comment AI翻译
  作者：Hsu, Shih-Hsun; Huang, Chen-Ying; Tang, Cheng-Tao
  作者单位：National Taiwan University; Brown University
• Secession and the limits of taxation: Toward a theory of internal exit: Comment AI翻译
  作者：Graziosi, Gregoire Rota
  作者单位：Universite Clermont Auvergne (UCA); Centre National de la Recherche Scientifique (CNRS)
• Modeling the transition to a new economy: Lessons from two technological revolutions AI翻译
  作者：Atkeson, Andrew; Kehoe, Patrick J.
  作者单位：University of California System; University of California Los Angeles; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
  摘要：Many view the period after the Second Industrial Revolution as a paradigm of a transition to a new economy following a technological revolution, including the Information Technology Revolution. We build a quantitative model of diffusion and growth during transitions to evaluate that view. With a learning process quantified by data on the life cycle of US manufacturing plants, the model accounts for the key features of the transition after the Second Industrial Revolution. But we find that feat...
• Inefficiency in legislative policymaking: A dynamic analysis AI翻译
  作者：Battaglini, Marco; Coate, Stephen
  作者单位：Princeton University; Cornell University
  摘要：This paper develops an infinite horizon model of public spending and taxation in which policy decisions are determined by legislative bargaining. The policy space incorporates both productive and distributive public spending and distortionary taxation. The productive spending is investing in a public good that benefits all citizens (e.g., national defense) and the distributive spending is district-specific transfers (e.g., pork-barrel spending). Investment in the public good creates a dynamic ...
• Simple cost-sharing contracts AI翻译
  作者：Chu, Leon Yang; Sappington, David E. A.
  作者单位：University of Southern California; State University System of Florida; University of Florida
• The effect of court-ordered hiring quotas on the composition and quality of police AI翻译
  作者：McCrary, Justin
  作者单位：University of Michigan System; University of Michigan; University of Michigan System; University of Michigan
  摘要：Arguably the most aggressive affirmative action program ever implemented in the United States was a series of court-ordered racial hiring quotas imposed on municipal police departments. My best estimate of the effect of court-ordered affirmative action on work-force composition is a 14-percentage-point gain in the fraction African American among newly hired officers. Evidence on police performance is mixed. Despite substantial black-white test score differences on police department entrance ex...