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作者：Benson, Alan; Li, Danielle; Shue, Kelly
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Yale University
摘要：We show that subjective assessments of employee potential contribute to gender gaps in promotion and pay. Using data on 29,809 management-track employees from a large retail chain, we find that women receive substantially lower potential ratings despite receiving higher performance ratings. Differences in potential ratings account for approximately half of the gender promotion gap. Women's lower potential ratings do not reflect accurate forecasts of future performance: Women subsequently outpe...
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作者：Faccini, Renato; Lee, Seungcheol; Luetticke, Ralph; Ravn, Morten O.; Renkin, Tobias
作者单位：Bank of Korea; Eberhard Karls University of Tubingen; Centre for Economic Policy Research - UK; University of London; University College London
摘要：We argue that consumer credit spreads matter for household choices and that time-varying spreads have important distributional consequences. Studying Danish household data, we show that consumer credit spreads have heterogeneous impact on asset dynamics and consumption choices across the wealth distribution and that time-varying spreads induce a countercyclical marginal propensity to consume. We study a HANK model where banks provide consumer credit and corporate loans. Through countercyclical...
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作者：Carril, Rodrigo; Gonzalez-Lira, Andres; Walker, Michael S.
作者单位：Pompeu Fabra University; Barcelona School of Economics; Pontificia Universidad Catolica de Chile
摘要：We study the effects of intensifying competition for contracts in the context of US Defense procurement. Leveraging a discontinuous regulation that mandates agencies to publicize certain contract opportunities, we document that expanding the set of bidders reduces award prices but deteriorates post-award performance in terms of cost overruns and delays. We develop and estimate an auction model with endogenous entry and stochastic execution performance, in which the buyer endogenously chooses t...
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作者：Dupas, Pascaline; Handlan, Amy; Modestino, Alicia Sasser; Niederle, Muriel; Sere, Mateo; Sheng, Haoyu; Wolfers, Justin
作者单位：National Bureau of Economic Research; National Bureau of Economic Research; University of London; University College London; National Bureau of Economic Research
摘要：We assess whether men and women are treated differently when presenting their economics research. We collected data across thousands of seminars, job market talks, and conference presentations, leveraging human judgment and audio-processing algorithms to measure the number, tone, and type of interruptions. Within a seminar series, women are interrupted more than men. This holds when controlling for characteristics of the presenter, paper, and audience. Interruptions that are negative in tenor ...
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作者：Gupta, Arpit; Mittal, Vrinda; Van Nieuwerburgh, Stun
作者单位：New York University; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine; Columbia University; National Bureau of Economic Research; Centre for Economic Policy Research - UK
摘要：We show remote work led to large drops in lease revenues, occupancy, and market rents in the commercial office sector. We revalue New York City office buildings, taking into account both the cash flow and discount rate implications of these shocks, and find a 46 percent decline in long-run value. For all US office markets combined, we find a $556.8 billion value destruction. Higher-quality buildings were buffered against these trends due to a flight to quality, while lower-quality offices are ...
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作者：Hankins, Kristine W.; Momeni, Morteza; Sovich, David
作者单位：University of Kentucky; Tennessee Technological University
摘要：Captive finance subsidiaries create a channel for trade policy to affect consumer credit. Examining the impact of the Trump administration's metal tariffs on captive automobile lenders, we find that consumers received higher interest rates from captive lenders after the tariffs relative to unaffected noncaptive lenders. Further, we document a disparate impact on low-income borrowers and in areas with less lending competition. Our results suggest that tariffs may impact not only the price of go...
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作者：Munnich, Elizabeth L.; Richards, Michael R.; Whaley, Christopher M.; Zhao, Xiaoxi
作者单位：University of Louisville; Cornell University; National Bureau of Economic Research; Brown University; RAND Corporation
摘要：Principal-agent problems often extend beyond what can be directly addressed through conventional incentive arrangements. We examine a context where physicians are likely under-incentivized to minimize total medical costs until their private financial interests align with those of patients. Leveraging novel data on physician ownership of ambulatory surgery centers--that is, same-day facilities--we show that these equity holdings cause a substitution away from higher cost, rival settings that lo...
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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：Tsivanidis, Nick
作者单位：University of California System; University of California Berkeley
摘要：This paper estimates the effects of improving public transit infrastructure on city structure and welfare. It develops a quantitative urban model with multiple worker groups and transit modes, and derives a special case yielding sufficient statistics for aggregate welfare in a broad class of models. The paper estimates reduced-form elasticities to implement the approach using data spanning construction of the world's largest Bus Rapid Transit system in Bogot & aacute;, Colombia. This class of ...
