2005

最新文章

• Meetings with costly participation: Comment AI翻译
  作者：De Sinopoli, F; Iannantuoni, G
  作者单位：Universidad Carlos III de Madrid; University of Cambridge
• Long-term contracting with Markovian consumers AI翻译
  作者：Battaglini, M
  作者单位：Princeton University
  摘要：To study how a firm can capitalize on a long-term customer relationship, we characterize the optimal contract between a monopolist and a consumer whose preferences follow a Markov process. The optimal contract is nonstationary and has infinite memory, but is described by a simple state variable. Under general conditions, supply converges to the efficient level for any degree of persistence of the types and along any history, though convergence is history-dependent. In contrast, as with constan...
• Why have housing prices gone up? AI翻译
  作者：Glaeser, EL; Gyourko, J; Saks, RE
  作者单位：Harvard University; National Bureau of Economic Research; University of Pennsylvania
• The cyclical behavior of equilibrium unemployment and vacancies AI翻译
  作者：Shimer, R
  作者单位：University of Chicago
  摘要：This paper argues that the textbook search and matching model cannot generate the observed business-cycle-frequency fluctuations in unemployment and job vacancies in response to shocks of a plausible magnitude. In the United States, the standard deviation of the vacancy-unemployment ratio is almost 20 times as large as the standard deviation of average labor productivity, while the search model predicts that the two variables should have nearly the same volatility. A 'shock that changes averag...
• Neuroeconomic foundations of trust and social preferences: Initial evidence AI翻译
  作者：Fehr, E; Fischbacher, U; Kosfeld, M
  作者单位：University of Zurich
• The economics of governance AI翻译
  作者：Williamson, OE
  作者单位：University of California System; University of California Berkeley
• Mortality reductions, educational attainment, and fertility choice AI翻译
  作者：Soares, RR
  作者单位：University System of Maryland; University of Maryland College Park
  摘要：This paper develops a model where reductions in mortality are the main force behind economic development. The model generates a pattern of changes similar to the demographic transition, where gains in life expectancy at birth are followed by reductions infertility and increases in the rate of human capital accumulation. The onset of the transition is characterized by a critical level of life expectancy at birth, which marks the movement of the economy from a Malthusian equilibrium to an equili...
• Does monetary policy affect relative educational unemployment rates? AI翻译
  作者：Jefferson, PN
  作者单位：Swarthmore College
• Fact-free learning AI翻译
  作者：Aragones, E; Gilboa, I; Postlewaite, A; Schmeidler, D
  摘要：People may be surprised to notice certain regularities that hold in existing knowledge they have had for some time. That is, they may learn without getting new factual information. We argue that this can be partly explained by computational complexity. We show that, given a knowledge base, finding a small set of variables that obtain a certain value of R-2 is computationally hard, in the sense that this term is used in computer science. We discuss some of the implications of this result and of...
• Are banks really special? New evidence from the FDIC-induced failure of healthy banks AI翻译
  作者：Ashcraft, AB
  作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York