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作者：Horner, Johannes; Samuelson, Larry
作者单位：Centre National de la Recherche Scientifique (CNRS); Yale University
摘要：We consider an economy in which long-lived experts are matched with short-lived clients. Experts choose the type of client with whom they match, unobserved by the market. The interaction outcome depends on both the expert's and the client's type. We study the effects of supplying information about otherwise unobservable outcomes, such as medical report cards, to help clients identify better experts. Such information can lead to inefficient matches, as experts reject risky clients to build thei...
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作者：Chinoy, Sahil; Nunn, Nathan; Sequeira, Sandra; Stantcheva, Stefanie
作者单位：Harvard University; University of British Columbia; Canadian Institute for Advanced Research (CIFAR); University of London; London School Economics & Political Science
摘要：We investigate the origins and implications of zero-sum thinking: the belief that gains for one individual or group tend to come at the cost of others. Using a new survey of 20,400 US residents, we measure zero-sum thinking, political preferences, policy views, and a rich array of ancestral information spanning four generations. We find that a more zero-sum mindset is strongly associated with more support for government redistribution, race-and gender-based affirmative action, and more restric...
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作者：Passaro, Diego Gentile; Kojima, Fuhito; Pakzad-Hurson, Bobak
作者单位：University of Tokyo; Brown University
摘要：Equal pay laws increasingly require that workers with different group identities doing similar work are paid equal wages within firm. We study such equal pay for similar work (EPSW) policies theoretically and test our models' predictions empirically using evidence from a 2009 gender-based Chilean EPSW. Under EPSW, firms segregate their workforce by gender. When there are more men than women in a labor market, EPSW increases the gender wage gap. (JEL J16, J31, J38, K31, O15)
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作者：Brugues, Felipe
作者单位：Instituto Tecnologico Autonomo de Mexico
摘要：This paper studies the efficiency of self-enforced relational agreements, a common solution to contracting frictions, when sellers have market power and contracts cannot be externally enforced. To this end, I develop a dynamic contracting model with limited enforcement in which buyers can default on their trade credit debt and estimate it using a novel dataset from the Ecuadorian manufacturing supply chain. The key empirical finding is that bilateral trade is inefficiently low in early periods...
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作者：Flynn, Joel P.; Nikolakoudis, George; Sastry, Karthik A.
作者单位：Yale University; University of Chicago; Princeton University
摘要：Modern theories of aggregate supply are built on the foundation that firms set prices and commit to producing whatever the market demands. We remove this strategic restriction and allow firms to choose supply functions, mappings that describe the prices charged at each quantity of production. Theoretically, we characterize firms' optimal supply function choices in general equilibrium and study the resulting implications for aggregate supply. Aggregate supply flattens under lower inflation unce...
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作者：Ehrlich, Gabriel; Haltiwanger, John; Jarmin, Ron; Johnson, David; Olivares, Ed; Pardue, Luke; Shapiro, Matthew D.; Zhao, Laura Yi
作者单位：University of Michigan System; University of Michigan; University System of Maryland; University of Maryland Baltimore; National Bureau of Economic Research; United States Department of the Treasury; Bank of Canada
摘要：Item-level transactions data yield cost-of-living indices that can account for quality change and consumer substitution. Transactions data require confronting the rapid turnover of items because prices of new and existing products are interrelated in equilibrium. This paper evaluates multiple approaches to measuring quality change at scale. It shows that a hedonic superlative approach-using econometrics or machine learning for hedonic estimation combined with index formulas that require simult...
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作者：Goncalves, Felipe; Jacome, Elisa; Weisburst, Emily
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; Northwestern University
摘要：We study the role of victim reporting in the production of public safety. We examine the Secure Communities program, a crime-reduction policy that involved police in detecting unauthorized immigrants and increased deportation fears in immigrant communities. We find that the policy reduced the likelihood that Hispanic victims report crimes to police and increased offending against Hispanics. The number of reported crimes is unchanged, masking these opposing effects. We show that reduced reporti...
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作者：Daysal, N. Meltem; Ding, Hu, I; Rossin-Slater, Maya; Schwandt, Hannes
作者单位：University of Copenhagen; Leibniz Association; Ifo Institut; IZA Institute Labor Economics; Fudan University; Shanghai Institute of International Finance & Economics; Stanford Medicine; Stanford University; National Bureau of Economic Research; Northwestern University; Centre for Economic Policy Research - UK
摘要：Preschool-aged children get sick frequently and spread disease to other family members. Despite the universality of this experience, there is limited causal evidence on the magnitudes and consequences of these externalities, especially for infant siblings with developing immune systems and brains. We show in Danish administrative data that during infancy, younger siblings have two to three times higher hospitalization rates for respiratory conditions than older siblings. We combine birth order...
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作者：Becko, John Sturm; Sztutman, Andre
作者单位：Carnegie Mellon University
摘要：A common interpretation of Pareto-efficient policies is that, for some cardinal utility representations of preferences, they maximize utilitarian welfare. We show in the context of income taxation that such cardinalizations are often extreme, requiring unbounded curvature of utility with respect to consumption. Taxes can be justified as utilitarian without these extreme cardinalizations if and only if revenues are decreasing and concave in a class of narrowly targeted tax cuts. We reformulate ...
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作者：Garleanu, Nicolae; Panageas, Stavros; Zheng, Geoffery
摘要：We provide a model to explain how the interaction between the spot and lending markets for stocks can lead to abrupt changes in short selling activity. Furthermore, rational short sellers may choose to abandon the market even as mispricing widens. We document empirically that the dynamics of short selling are fat tailed and subject to abrupt changes, especially for the stocks that the model identifies as susceptible to such dynamics. (JEL G11, G12, G14, G41)
