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作者：Ederer, Florian; Pellegrino, Bruno
作者单位：Boston University; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; Columbia University
摘要：We study the welfare implications of the rise of common ownership in the U.S. from 1995 to 2021. We build a general equilibrium model with a hedonic demand system in which firms compete in a network game of oligopoly. Firms are connected through two large networks: the first reflects ownership overlap, the second product market rivalry. In our model, common ownership of competing firms induces unilateral incentives to soften competition and the magnitude of the common ownership effect depends ...
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作者：Chen, Zhao; Jiang, Xian; Liu, Zhikuo; Serrato, Juan Carlos Suarez; Xu, Daniel Yi
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作者：Albertini, Julien; Poirier, Arthur; Terriau, Anthony
作者单位：Universite Lyon 2; Ecole Normale Superieure de Lyon (ENS de LYON); Universite Jean Monnet; Universite Lyon 1; Centre National de la Recherche Scientifique (CNRS); emlyon business school; Centre National de la Recherche Scientifique (CNRS); Laboratoire dEconomie de Dauphine LEDa; Institut de Recherche pour le Developpement (IRD); Laboratoire dEconomie de Dauphine LEDa; Universite PSL; Universite Paris-Dauphine; Laboratoire dEconomie de Dauphine LEDa; Le Mans Universite
摘要：As a complement to the federal earned income tax credit (EITC), some states offer their own EITC, typically calculated as a percentage of the federal EITC. In this paper, we analyse the effect of state EITC on education using policy discontinuities at US state borders. Our estimates reveal that an increase in the state EITC leads to a statistically significant increase in the high school dropout rate. We then use a life-cycle matching model with directed search and endogenous educational choic...
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作者：Jamilov, Rustam; Monacelli, Tommaso
作者单位：University of Oxford; Bocconi University; Centre for Economic Policy Research - UK
摘要：How do movements in the distributions of bank size and income affect the macroeconomy? To answer this question, we develop a dynamic general equilibrium model with heterogeneous financial intermediaries, incomplete markets, and aggregate uncertainty. We find that market incompleteness and uninsured idiosyncratic bank rate of return risk generate minimal concentration in the bank net worth distribution, leading to an as-if result, whereby the economy behaves as if it had a representative bank. ...
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作者：Parkhomenko, Andrii
作者单位：University of Southern California; Kyiv School of Economics
摘要：Why are job polarization and income inequality higher in large U.S. cities? I offer a new explanation: when house prices grow faster in large cities, middle-income households increasingly cannot afford to own a house there. They move to smaller cities and the middle of the income distribution in large cities hollows out, making them more polarized and unequal. I document that (1) cities with higher price growth experienced larger polarization and increase in inequality since 1980 and (2) middl...
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作者：Jessen, Jonas; Jessen, Robin; Galecka-Burdziak, Ewa; Gora, Marek; Kluve, Jochen
作者单位：IZA Institute Labor Economics; Leibniz Association; Ifo Institut; Warsaw School of Economics; Humboldt University of Berlin
摘要：We quantify micro and macro effects of changes in the potential benefit duration (PBD) in unemployment insurance. In Poland, the PBD is 12 months for the newly unemployed if the previous year's county unemployment rate is more than 150% of the national average, and 6 months otherwise. We exploit this cut-off using regression discontinuity estimates on registry data containing the universe of unemployed from 2005 to 2019. For those whose PBD is directly affected by the policy rule, benefit reci...
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作者：Duarte, Raul; Finan, Frederico; Larreguy, Horacio; Schechter, Laura
作者单位：Harvard University; University of California System; University of California Berkeley; Instituto Tecnologico Autonomo de Mexico; University of Wisconsin System; University of Wisconsin Madison
摘要：Politicians rely on political brokers to buy votes throughout much of the developing world. We investigate how social networks facilitate these vote-buying exchanges. Our conceptual framework suggests brokers should be particularly well-placed within the network to learn about non-copartisans' reciprocity in order to target transfers effectively. As a result, parties should recruit brokers who are central among non-copartisans. We combine village network data from brokers and citizens with bro...
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作者：Bozio, Antoine; Breda, Thomas; Grenet, Julien; Guillouzouic, Arthur
作者单位：Paris School of Economics; Centre National de la Recherche Scientifique (CNRS); Centre National de la Recherche Scientifique (CNRS)
摘要：We analyse earnings responses to six large payroll tax and income tax reforms in France. Our findings indicate full pass-through to workers when there is a strong and transparent link between contributions and expected benefits. In contrast, employer payroll taxes with no tax-benefit linkage exhibit limited pass-through to workers, while income tax nominally borne by employees show nearly full pass-through. Together with a meta-analysis of the literature, we interpret these results as empirica...
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作者：Dilme, Francesc; Garrett, Daniel F.
作者单位：University of Bonn; University of Essex
摘要：A seller with commitment power sets prices over time. Risk-averse buyers arrive to the market and decide when to purchase. We show that it is optimal for the seller to choose a constant high price punctuated by occasional episodes of sequential discounts that occur at random times. This optimal price-path has the property that the price a buyer ends up paying is independent of his arrival and purchase times, and only depends on his valuation. Our theory accommodates empirical findings on the t...
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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...
