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作者：Horner, Johannes; Sanktjohanser, Anna
作者单位：Communaute d'universites et etablissements de Toulouse (Comue); Centre National de la Recherche Scientifique (CNRS); Universite Toulouse 1 Capitole; Toulouse School of Economics; Communaute d'universites et etablissements de Toulouse (Comue); Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：We consider a dynamic buyer-seller interaction. Instead of the buyer's valuation, it is the frequency with which he needs to trade that is the buyer's private information. The difference matters. With commitment, full surplus extraction is possible, for instance via limited-time offers. Without commitment, ratcheting is mitigated, as not buying is not necessarily a sign of strength. Because time is informative, the seller learns and may adjust her behavior over time. When finding a suitable al...
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作者：Clayton, Christopher; Maggiori, Matteo; Schreger, Jesse
作者单位：Yale University; Stanford University; Columbia University
摘要：Governments use their countries' economic strength from financial and trade relationships to achieve geopolitical and economic goals. We provide a model of the sources of geoeconomic power and how it is wielded. The source of this power is the ability of a hegemonic country to coordinate threats across disparate economic relationships as a means of enforcement on foreign entities. The hegemon wields this power to demand costly actions out of the targeted entities, including mark-ups, import re...
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作者：Kaas, Leo; Lale, Etienne; Siassi, Nawid
作者单位：European University Institute; York University - Canada
摘要：This paper develops a macroeconomic model that combines an incomplete-markets overlapping-generations economy with a job ladder featuring sequential wage bargaining, endogenous search effort of employed and non-employed workers, and differences in match quality. With these ingredients, our model provides a joint microfoundation for the three main inputs in aggregate production: capital, employment, and labor efficiency. The calibrated model offers a good fit to the empirical age profiles of se...
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作者：Lipman, Barton
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作者：Stansbury, Anna; Rodriguez, Kyra
作者单位：Massachusetts Institute of Technology (MIT); University of California System; University of California Berkeley
摘要：Unlike gender or race, class background is rarely a focus of research on career progression, or of DEI efforts in elite occupations. Should it be? In this paper, we document a large class gap in career progression in one occupation-U.S. tenure-track academia-using parental education to proxy for class background. First-generation college graduates are 10% less likely to be tenured at an R1, are tenured at institutions ranked 11% lower, earn 3% less, and report 5% lower job satisfaction, than t...
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作者：Ho, Kate; Lee, Robin S.
作者单位：Princeton University; Harvard University
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作者：Hsiao, Allan
作者单位：Stanford University
摘要：Weak environmental regulation has global consequences. When domestic regulation fails, the international community can target emitters with trade policy. I develop a dynamic empirical framework for evaluating trade policy as a substitute for domestic regulation, and I apply the framework to the market for palm oil, a major driver of deforestation and global CO2 emissions. Relative to business as usual, a domestic production tax of 50% reduces CO2 emissions by 7.4 Gt from 1988 to 2016, amountin...
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作者：Montiel Olea, Jose Luis; Plagborg-Moller, Mikkel; Qian, Eric; Wolf, Christian K.
作者单位：Cornell University; University of Chicago; Princeton University; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：We consider impulse response inference in a locally misspecified vector autoregression (VAR) model. The conventional local projection (LP) confidence interval has correct coverage even when the misspecification is so large that it can be detected with probability approaching 1. This result follows from a double robustness property analogous to that of popular partially linear regression estimators. By contrast, the conventional VAR confidence interval with short-to-moderate lag length can seve...
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作者：Cox, Christian
作者单位：University of Arizona
摘要：The U.S. Supreme Court's 2010 decision in Citizens United v. Federal Election Commission deregulated campaign finance, enabling the rise of a new political action committee (the Super PAC) with broad freedom to raise and spend money. This led to an unprecedented surge in spending in primary and general elections. To evaluate the impact of Super PACs, I estimate a multistage model of political competition using data from U.S. Congressional elections between 2010 and 2020. I find that Super PAC ...
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作者：Davis, Jonathan M. V.; Greenberg, Kyle; Jones, Damon
作者单位：University of Oregon; National Bureau of Economic Research; IZA Institute Labor Economics; University of Chicago
摘要：Internal labor markets are increasingly important for matching workers to jobs within organizations. We present evidence from a randomized trial that compares matching workers to jobs using the deferred acceptance (DA) algorithm to the traditional manager-directed matching process. Our setting is the U.S. Army's internal labor market, which matches over 14,000 officers to units annually. We find that DA reduces administrative burden and increases match quality as measured by reduced justified ...
