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作者:Bloom, Nicholas; Lemos, Renata; Sadun, Raffaella; Scur, Daniela; Van Reenen, John
作者单位:Stanford University; University of London; London School Economics & Political Science; Harvard University; University of Oxford
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作者:Eggertsson, Gauti B.; Mehrotra, Neil R.; Summers, Lawrence H.
作者单位:Brown University
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作者:Stiglitz, Joseph E.
作者单位:Columbia University
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作者:Akcigit, Ufuk; Baslandze, Salome; Stantcheva, Stefanie
作者单位:University of Chicago; National Bureau of Economic Research; Harvard University
摘要:We study the effect of top tax rates on superstar inventors' international mobility since 1977, using panel data on inventors from the US and European Patent Offices. We exploit the differential impact of changes in top tax rates on inventors of different qualities. Superstar inventors' location choices are significantly affected by top tax rates. In our preferred specification, the elasticity to the net-of-tax rate of the number of domestic superstar inventors is around 0.03, while that of fo...
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作者:Hurst, Erik; Keys, Benjamin J.; Seru, Amit; Vavra, Joseph
作者单位:University of Chicago; University of Chicago
摘要:Regional shocks are an important feature of the US economy. Households' ability to self-insure against these shocks depends on how they affect local interest rates. In the United States, most borrowing occurs through the mortgage market and is influenced by the presence of government-sponsored enterprises (GSE). We establish that despite large regional variation in predictable default risk, GSE mortgage rates for otherwise identical loans do not vary spatially. In contrast, the private market ...
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作者:Jeanne, Olivier
作者单位:Johns Hopkins University
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作者:Juhn, Chinhui; McCue, Kristin
作者单位:University of Houston System; University of Houston
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作者:Schilbach, Frank; Schofield, Heather; Mullainathan, Sendhil
作者单位:Massachusetts Institute of Technology (MIT); University of Pennsylvania; University of Pennsylvania; Harvard University
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作者:Head, Allen; Lloyd-Ellis, Huw; Sun, Hongfei
作者单位:Queens University - Canada
摘要:In the course of our ongoing research, we have discovered two substantive errors in this article. These mistakes do not affect significantly either the qualitative nature of the results or any of the principal conclusions stated in the paper. They do, however, affect the specific quantitative results. One error affects the empirical findings presented primarily in Section I and the online Appendix. The other involves the calculation of sales of existing houses in artificial data generated by t...
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作者:Bonatti, Alessandro; Rantakari, Heikki
作者单位:Massachusetts Institute of Technology (MIT); University of Rochester
摘要:An organization must select among competing projects that differ in their payoff consequences for its members. Each agent chooses a project and exerts effort affecting its completion time. When one or more projects are complete, the agents select which one to adopt. The selection rule for multiple projects that maximizes ex post welfare leads to inefficiently high polarization; rules that favor later proposals improve upon ex post optimal selections. The optimal degree of favoritism increases ...