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作者：Su, Dan
摘要：This study shows that technological specialization is one plausible driver of long-term international capital flows. Capital scarcity raises marginal returns but also steers countries toward capital-saving technologies. As a result, capital-rich countries adopt capital-complementary technologies and keep importing capital from poorer countries that favor capital-substitute innovations. This divergence force on capital allocation, which we name the capital Matthew effect, offsets convergence fr...
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作者：Harrigan, James; Reshef, Ariell; Toubal, Farid
作者单位：University of Virginia; National Bureau of Economic Research; Paris School of Economics; Leibniz Association; Ifo Institut; Universite PSL; Universite Paris-Dauphine; Centre for Economic Policy Research - UK
摘要：We study the impact of techies-engineers and other technically trained workers-on firm-level productivity. We first report new facts on techies in the firm using French administrative data. Techies are STEM-skill intensive and associated with innovation, technology adoption, management, and diffusion within firms. Using structural econometric methods, we estimate the effect of techies on firm-level Hicks-neutral productivity in manufacturing and nonmanufacturing. We find that techies raise pro...
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作者：Delalibera, Bruno R.; Ferreira, Pedro Cavalcanti; Machado Parente, Rafael
作者单位：University of Barcelona; Getulio Vargas Foundation; Getulio Vargas Foundation; International Monetary Fund
摘要：We study social security reforms in economies with segmented labor markets and pension systems. We develop a life-cycle general equilibrium model with heterogeneous agents and endogenous retirement and sectoral choice across public, formal, and informal jobs. Calibrated to Brazil, the model shows that unifying pension systems and raising the minimum retirement age reduce the pension deficit by nearly 40 percent, while increasing output, capital accumulation, and welfare, despite redistributive...
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作者：Hagedorn, Marcus
作者单位：University of Oslo
摘要：Heterogeneous agent incomplete markets models offer a new perspective on price and inflation determination. In contrast to complete markets, the price level is determined from the asset-market clearing condition. Fiscal and monetary policy then jointly and uniquely determine the finite steady-state price level and the inflation rate, including in a steady state in which the nominal interest rate is constant. Fiscal policy can determine the long-run inflation rate for a fiscal rule which sets t...
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作者：Zhang, Qian; Wang, Jianxin; Houser, Daniel
作者单位：Central South University; George Mason University
摘要：Academic cheating can detrimentally impact students' learning outcomes and increase the likelihood they will later behave unethically. To improve student learning outcomes, it is important to understand why students choose to cheat. Here we develop a model, based on guilt aversion and disappointment aversion, that predicts parent-child differences in educational expectations promote children's dishonesty. We test this prediction using a nationally representative survey of secondary school stud...
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作者：Gradstein, Mark; Ventura, Luigi
作者单位：Ben-Gurion University of the Negev; Sapienza University Rome
摘要：We explore implications of social status concerns for redistribution, income inequality, and growth in a political economy framework. Salience of such concerns leads to a propagation mechanism, whereby initial income inequality and reduced willingness to redistribute income reinforce each other, potentially giving rise to multiple steady states. An extension illustrates the possibility of a high redistribution cum low inequality steady state resulting in a higher steady-state income level. Som...
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作者：Cooper, Russell; Gong, Guan; Hu, Guanliang; Yan, Ping
作者单位：Liaoning University; European University Institute; Shanghai University of Finance & Economics; City University of Hong Kong
摘要：This paper studies Chinese firms' export status, distinguishing state and privately controlled enterprises. A dynamic model of export decisions is estimated by ownership types. The estimated models capture distinctive differences between ownership types including the productivity gap between exporters and nonexporters, the interaction between domestic and foreign sales, the skewed distribution of export shares, and the dynamic response of employment to changes in export status. Our analysis hi...
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作者：Santacreu, Ana Maria; Sposi, Michael; Zhang, Jing
作者单位：Federal Reserve System - USA; Federal Reserve Bank - St. Louis; Southern Methodist University; Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：We develop a structural framework to identify the sources of cross-state heterogeneity in response to U.S. tariff changes. A unilateral 25-percentage-point U.S. tariff increase across sectors induces consumption changes ranging from -0.8% in Oregon to 2.3% in Montana. This variation stems from the interaction between states' internal comparative advantage and the nation's external comparative advantage. Factor mobility lowers aggregate consumption and reshapes the cross-state impacts by shifti...
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作者：Boar, Corina; Knowles, Matthew; Storesletten, Kjetil; Wang, Yicheng
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作者：Hwang, Sung-ha; Neary, Philip R.; Newton, Jonathan; Sawa, Ryoji
作者单位：Korea Advanced Institute of Science & Technology (KAIST); University of London; Royal Holloway University London; Kyoto University; University of Tsukuba
摘要：This paper investigates strategic dynamics under the behavioral rule of pairwise interact and imitate (PII), which requires minimal information and emphasizes outperforming opponents in pairwise interactions. We characterize PII using weak tournament graphs and, for a broad class of dynamics, establish a one-shot stability result for stochastic stability. Applications include Cournot competition, strategic complements and substitutes, externalities, Nash demand games, and status-seeking contes...
