The American Economic Review

最新文章

• The Axiomatic Structure of Empirical Content AI翻译
  作者：Chambers, Christopher P.; Echenique, Federico; Shmaya, Eran
  作者单位：University of California System; University of California San Diego; California Institute of Technology; Northwestern University; Tel Aviv University
  摘要：We define the empirical content of an economic theory as the least restrictive observationally equivalent theory. We show that the empirical content of a theory is captured by a certain kind of axiomatization, with axioms that are universal negations of conjunctions of atomic formulae.
• Disparities in Wealth Accumulation and Loss from the Great Recession and Beyond AI翻译
  作者：McKernan, Signe-Mary; Ratcliffe, Caroline; Steuerle, Eugene; Zhang, Sisi
  作者单位：Urban Institute; Shanghai University of Finance & Economics
• Selected International Aspects of Carbon Taxation AI翻译
  作者：McLure, Charles E., Jr.
  作者单位：Stanford University
• Treatment Effects and Informative Missingness with an Application to Bank Recapitalization Programs AI翻译
  作者：Vossmeyer, Angela
  作者单位：University of California System; University of California Irvine
• Do Consumers Respond to Marginal or Average Price? Evidence from Nonlinear Electricity Pricing AI翻译
  作者：Ito, Koichiro
  作者单位：Boston University; National Bureau of Economic Research
  摘要：Nonlinear pricing and taxation complicate economic decisions by creating multiple marginal prices for the same good. This paper provides a framework to uncover consumers' perceived price of nonlinear price schedules. I exploit price variation at spatial discontinuities in electricity service areas, where households in the same city experience substantially different nonlinear pricing. Using household-level panel data from administrative records, I find strong evidence that consumers respond to...
• Estimating a Structural Model of Herd Behavior in Financial Markets AI翻译
  作者：Cipriani, Marco; Guarino, Antonio
  作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; University of London; University College London
  摘要：We develop a new methodology to estimate herd behavior in financial markets. We build a model of informational herding that can be estimated with financial transaction data. In the model, rational herding arises because of information-event uncertainty. We estimate the model using data on a NYSE stock (Ashland Inc.) during 1995. Herding occurs often and is particularly pervasive on some days. On average, the proportion of herd buyers is 2 percent; that of herd sellers is 4 percent. Herding als...
• Some Basic Economics of National Security AI翻译
  作者：Murphy, Kevin M.; Topel, Robert H.
  作者单位：University of Chicago; National Bureau of Economic Research
• A Numerical Investigation of the Potential for Negative Emissions Leakage AI翻译
  作者：Winchester, Niven; Rausch, Sebastian
  作者单位：Massachusetts Institute of Technology (MIT); Swiss Federal Institutes of Technology Domain; ETH Zurich
• Trade Liberalization and Embedded Institutional Reform: Evidence from Chinese Exporters AI翻译
  作者：Khandelwal, Amit K.; Schott, Peter K.; Wei, Shang-Jin
  作者单位：Columbia University; Yale University
  摘要：If trade barriers are managed by inefficient institutions, trade liberalization can lead to greater-than-expected gains. We examine Chinese textile and clothing exports before and after the elimination of externally imposed export quotas. Both the surge in export volume and the decline in export prices following quota removal are driven by net entry. This outcome is inconsistent with a model in which quotas are allocated based on firm productivity, implying misallocation of resources. Removing...
• Learning from Others' HIV Testing: Updating Beliefs and Responding to Risk AI翻译
  作者：Godlonton, Susan; Thornton, Rebecca L.
  作者单位：University of Michigan System; University of Michigan