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作者：Bazzi, Samuel; Hilmy, Masyhur; Marx, Benjamin
作者单位：University of California System; University of California San Diego; University of California System; University of California San Diego; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; University of New South Wales Sydney; Boston University
摘要：This paper explores how state and religious providers of education compete during the nation building process. Using novel administrative data, we characterize the evolution of Indonesia's Islamic education system and religious school choice after the introduction of mass public primary schooling in the 1970s. Funded through informal taxation, Islamic schools competed with the state by entering in the same markets. While primary enrollment shifted towards state schools, religious education inc...
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作者：Kawai, Kei; Nakabayashi, Jun; Ortner, Juan
作者单位：University of California System; University of California Berkeley; University of Tokyo; Kyoto University; Boston University
摘要：We study how incentive constraints can be relaxed by randomization in a repeated-game setting. Our study is motivated by the workings of a detected bidding cartel that adopted a protocol of keeping the winning bid secret from the designated losers when defection was a concern. Keeping the winning bid secret makes accurately undercutting the winning bid more difficult and makes defection less attractive as potential defectors risk not winning the auction even if they deviate. We formalize these...
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作者：Ichino, Andrea; Rustichini, Aldo; Zanella, Giulio
作者单位：European University Institute; University of Bologna; University of Minnesota System; University of Minnesota Twin Cities
摘要：University access has significantly expanded in OECD countries, and further growth figures prominently in political agendas. We study possible consequences of historical and future expansions in a stochastic, general equilibrium Roy model where tertiary educational attainment is determined by cognitive ability and socioeconomic disadvantage. In our analysis, individual productivity depends not only on education but also directly on cognitive ability. The expansion of university access in the U...
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作者：Kwak, Changhyun
作者单位：Academia Sinica - Taiwan
摘要：This paper studies a multi-product monopolist facing a privately informed consumer with additive and type-increasing valuations. Separate monopoly pricing is robustly optimal with respect to the type distribution if and only if the marginal rate of substitution between each pair of goods is monotone. This result is obtained by extending the conventional Myersonian approach.
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作者：Danieli, Oren
作者单位：Tel Aviv University
摘要：I propose a model of skill-replacing routine-biased technological change (SR-RBTC). In this model, technology substitutes for the use of skill in routine tasks, in contrast to standard RBTC models, which assume that technology replaces the workers themselves. The SR-RBTC model explains three key trends that are inconsistent with standard RBTC models: (1) why specifically middle wages declined even though workers in routine occupations are dispersed across the entire bottom half of the wage dis...
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作者：Doerr, Sebastian; Drechsel, Thomas; Lee, Donggyu
作者单位：Bank for International Settlements (BIS); National Bureau of Economic Research; University System of Maryland; University of Maryland College Park; Center for Economic & Policy Research (CEPR); Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：We propose a novel channel through which rising income inequality affects job creation and macroeconomic outcomes. High-income households save relatively more in stocks and bonds but less in bank deposits. A rising top income share thereby increases the relative financing cost for bank-dependent firms, which in turn create fewer jobs compared to other firms. Exploiting variation in top income shares across US states and an instrumental variable strategy, we provide evidence for this channel. W...
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作者：Li, Zihao; Libgober, Jonathan
作者单位：Columbia University; University of Southern California
摘要：An agent samples projects over time, observing quality for each, while a principal can select at most one. The principal values quality, whereas the agent only wants a project chosen. Transfers are unavailable, but the principal can verify quality by paying a cost. We fully characterize the dynamics of verification by determining optimal mechanisms for this problem. With a low verification cost and a long horizon, the optimal mechanism involves a deterministic selection rule that initially dis...
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作者：Blaum, Joaquin; Esposito, Federico; Heise, Sebastian
作者单位：Boston University; Fordham University; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：We study the effect of risk on how firms organize their supply chains. We use transaction-level data on U.S. manufacturing imports to construct a novel measure of input sourcing risk based on the historical volatility of ocean shipping times. Our measure isolates the unexpected component of shipping times that is induced by weather conditions along more than 331,000 maritime routes. We first document that unexpected shipping delays significantly reduce importers' sales, profits, and employment...
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作者：Viviano, Davide; Wuthrich, Kaspar; Niehaus, Paul
作者单位：Harvard University; University of California System; University of California San Diego
摘要：Multiple hypothesis testing (MHT) practices vary widely, without consensus on which are appropriate when. This article provides an economic foundation for these practices designed to capture leading examples, such as regulatory approval on the basis of clinical trials. MHT adjustments are appropriate in our framework to the extent that research costs are invariant to the number of hypotheses. Control of average size, as for example via a Bonferroni correction, emerges in the limit case where a...
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作者：Andre, Peter; Haaland, Ingar; Roth, Christopher; Wiederholt, Mirko; Wohlfart, Johannes
作者单位：Goethe University Frankfurt; Norwegian School of Economics (NHH); Norwegian University of Science & Technology (NTNU); University of Cologne; University of Munich
摘要：We study narratives about the macroeconomy-the stories people tell to explain macroeconomic phenomena-in the context of a historic surge in inflation. In our empirical analysis, we field surveys with more than 10,000 U.S. households and 100 academic experts, measure economic narratives in open-ended questions, and represent them as directed acyclic graphs. Households' narratives are strongly heterogeneous, coarser than experts' narratives, focus more on the supply than the demand side, and oft...
