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作者：Gentzkow, Matthew; Kamenica, Emir
作者单位：Stanford University; University of Chicago
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作者：Swoboda, Aaron; Feiler, Lauren
作者单位：Carleton College
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作者：Armenter, Roc; Koren, Miklos
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Philadelphia; Central European University; Centre for Economic Policy Research - UK
摘要：Blum, Claro, and Horstmann (2016) make two statements about the balls-and-bins model of Armenter and Koren (2014). First, that using firm-level shipment data changes some of our results. Second, that the balls-and-bins model is not an appropriate statistical method. We respond to the first statement and argue that the second statement is unfounded and unrelated to the first. Indeed, the work of Blum, Claro, and Horstmann (2016) is a perfect example of how to use balls-and-bins in a rich datase...
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作者：Golosov, Mikhail; Troshkin, Maxim; Tsyvinski, Aleh
作者单位：Princeton University; Cornell University; Yale University
摘要：We study optimal redistribution and insurance in a life-cycle economy with private idiosyncratic shocks. We characterize Pareto optima, show the forces determining optimal labor distortions, and derive closed form expressions for their limiting behavior. The labor distortions for high-productivity shocks are determined by the labor elasticity and the higher moments of the shock process; the labor distortions for low-productivity shocks are determined by the autocorrelation of the shock process...
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作者：Muehlenbachs, Lucija; Spiller, Elisheba; Timmins, Christopher
作者单位：University of Calgary; Environmental Defense Fund; Duke University
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作者：Garicano, Luis; Lelarge, Claire; Van Reenen, John
作者单位：University of London; London School Economics & Political Science; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; European Central Bank; Bank of France; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：We show how size-contingent laws can be used to identify the equilibrium and welfare effects of labor regulation. Our framework incorporates such regulations into the Lucas (1978) model and applies it to France where many labor laws start to bind on firms with 50 or more employees. Using population data on firms between 1995 and 2007, we structurally estimate the key parameters of our model to construct counterfactual size, productivity, and welfare distributions. We find that the cost of thes...
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作者：Glode, Vincent; Opp, Christian
作者单位：University of Pennsylvania
摘要：We propose a parsimonious model of bilateral trade under asymmetric information to shed light on the prevalence of intermediation chains that stand between buyers and sellers in many decentralized markets. Our model features a classic problem in economics where an agent uses his market power to inefficiently screen a privately informed counterparty. Paradoxically, involving moderately informed intermediaries also endowed with market power can improve trade efficiency. Long intermediation chain...
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作者：Imas, Alex
作者单位：Carnegie Mellon University
摘要：Understanding how prior outcomes affect risk attitudes is critical for the study of choice under uncertainty. A large literature documents the significant influence of prior losses on risk attitudes. The findings appear contradictory: some studies find greater risk-taking after a loss, whereas others show the opposite-that people take on less risk. I reconcile these seemingly inconsistent findings by distinguishing between realized versus paper losses. Using new and existing data, I replicate ...
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作者：Pierce, Justin R.; Schott, Peter K.
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; Yale University; National Bureau of Economic Research
摘要：This paper links the sharp drop in US manufacturing employment after 2000 to a change in US trade policy that eliminated potential tariff increases on Chinese imports. Industries more exposed to the change experience greater employment loss, increased imports from China, and higher entry by US importers and foreign-owned Chinese exporters. At the plant level, shifts toward less labor-intensive production and exposure to the policy via input-output linkages also contribute to the decline in emp...
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作者：Angrist, Joshua; Hull, Peter; Pathak, Parag; Walters, Christopher
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of California System; University of California Berkeley
