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作者:Krueger, Dirk; Kubler, Felix
作者单位:Goethe University Frankfurt; National Bureau of Economic Research; University of Mannheim
摘要:This paper studies an overlapping generations model with stochastic production and incomplete markets to assess whether the introduction of an unfunded social security system leads to a Pareto improvement. When returns to capital and wages are imperfectly correlated, a system that endows retired households with claims to labor income enhances the sharing of aggregate risk between generations. Our quantitative analysis shows that, abstracting from the capital crowding-out effect, the introducti...
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作者:Calomiris, Charles W.
作者单位:Columbia University; American Enterprise Institute for Public Policy Research; National Bureau of Economic Research
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作者:Jaeger, David A.; Paserman, M. Daniele
作者单位:William & Mary; Hebrew University of Jerusalem
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作者:Chetty, Raj
作者单位:University of California System; University of California Berkeley; National Bureau of Economic Research
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作者:Goolsbee, Austan; Klenow, Peter J.
作者单位:University of Chicago; National Bureau of Economic Research; Stanford University
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作者:Basu, Susanto; Fernald, John G.; Kimball, Miles S.
作者单位:Boston College; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - San Francisco; University of Michigan System; University of Michigan; National Bureau of Economic Research
摘要:Yes. We construct a measure of aggregate technology change, controlling for aggregation effects, varying utilization of capital and labor, nonconstant returns, and imperfect competition. On impact, when technology improves, input use and nonresidential investment fall sharply. Output changes little. With a lag of several years, inputs and investment return to normal and output rises strongly. The standard one-sector real-business-cycle model is not consistent with this evidence. The evidence i...
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作者:Kydland, Finn E.
作者单位:University of California System; University of California Santa Barbara
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作者:Wolfers, Justin
作者单位:University of Pennsylvania; National Bureau of Economic Research
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作者:DellaVigna, Stefano; Malmendier, Ulrike
作者单位:University of California System; University of California Berkeley; Stanford University; National Bureau of Economic Research
摘要:How do consumers choose from a menu of contracts? We analyze a novel dataset from three U.S. health clubs with information on both the contractual choice and the day-to-day attendance decisions of 7,752 members over three years. The observed consumer behavior is difficult to reconcile with standard preferences and beliefs. First, members who choose a contract with a flat monthly fee of over $70 attend on average 4.3 times per month. They pay a price per expected visit of more than $17, even th...
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作者:[Anonymous]