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作者：Ito, Koichiro; Reguant, Mar
作者单位：University of Chicago; Northwestern University
摘要：We develop a framework to characterize strategic behavior in sequential markets under imperfect competition and restricted entry in arbitrage. Our theory predicts that these two elements can generate a systematic price premium. We test the model predictions using microdata from the Iberian electricity market. We show that the observed price differences and firm behavior are consistent with the model. Finally, we quantify the welfare effects of arbitrage using a structural model. In the presenc...
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作者：Blanchard, Olivier
作者单位：Peterson Institute for International Economics
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作者：Chandra, Amitabh; Finkelstein, Amy; Sacarny, Adam; Syverson, Chad
作者单位：Harvard University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT); Columbia University
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作者：Goel, Sharad; Rao, Justin M.; Shroff, Ravi
作者单位：Stanford University; Microsoft; New York University
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作者：Kim, Daehyun; Starks, Laura T.
作者单位：University of Texas System; University of Texas Austin; University of Texas System; University of Texas Austin
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作者：Blinder, Alan S.; Watson, Mark W.
作者单位：Princeton University; Princeton University
摘要：The US economy has performed better when the president of the United States is a Democrat rather than a Republican, almost regardless of how one measures performance. For many measures, including real GDP growth (our focus), the performance gap is large and significant. This paper asks why. The answer is not found in technical time series matters nor in systematically more expansionary monetary or fiscal policy under Democrats. Rather, it appears that the Democratic edge stems mainly from more...
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作者：Deming, David J.; Yuchtman, Noam; Abulafi, Amira; Goldin, Claudia; Katz, Lawrence F.
作者单位：Harvard University; University of California System; University of California Berkeley; National Bureau of Economic Research; Harvard University; Harvard University
摘要：We study employers' perceptions of the value of postsecondary degrees using a field experiment. We randomly assign the sector and selectivity of institutions to fictitious resumes and apply to real vacancy postings for business and health jobs on a large online job board. We find that a business bachelor's degree from a for-profit online institution is 22 percent less likely to receive a callback than one from a nonselective public institution. In applications to health jobs, we find that for-...
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作者：Bordignon, Massimo; Nannicini, Tommaso; Tabellini, Guido
作者单位：Catholic University of the Sacred Heart; Leibniz Association; Ifo Institut; Bocconi University; Centre for Economic Policy Research - UK; IZA Institute Labor Economics; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK
摘要：We compare single round versus runoff elections under plurality rule, allowing for partly endogenous party formation. Under runoff elections, the number of political candidates is larger, but the influence of extremist voters on equilibrium policy, and hence policy volatility, is smaller because the bargaining power of the political extremes is reduced compared to single round elections. The predictions on the number of candidates and on policy volatility are confirmed by evidence from a regre...
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作者：Autor, David; Figlio, David; Karbownik, Krzysztof; Roth, Jeffrey; Wasserman, Melanie
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; State University System of Florida; University of Florida
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作者：Christiano, Lawrence; Ikeda, Daisuke
作者单位：Northwestern University; Bank of Japan
