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作者：Kollmann, Robert; Roeger, Werner; in't Veld, Jan
作者单位：Universite Libre de Bruxelles; Universite Libre de Bruxelles
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作者：Fowlie, Meredith; Holland, Stephen P.; Mansur, Erin T.
作者单位：University of California System; University of California Berkeley; University of North Carolina; University of North Carolina Greensboro; Dartmouth College
摘要：An advantage of cap-and-trade programs over more prescriptive environmental regulation is that compliance flexibility and cost effectiveness can make more stringent emissions reductions politically feasible. However, when markets (versus regulators) determine where emissions occur, it becomes more difficult to assure that mandated emissions reductions are equitably achieved. We investigate these issues in the context of Southern California's RECLAIM program by matching facilities in RECLAIM wi...
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作者：Farhi, Emmanuel; Tirole, Jean
作者单位：Harvard University; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：The article shows that time-consistent, imperfectly targeted support to distressed institutions makes private leverage choices strategic complements. When everyone engages in maturity mismatch, authorities have little choice but intervening, creating both current and deferred (sowing the seeds of the next crisis) social costs. In turn, it is profitable to adopt a risky balance sheet. These insights have important consequences, from banks choosing to correlate their risk exposures to the need f...
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作者：Jin, Keyu
作者单位：University of London; London School Economics & Political Science
摘要：This paper provides a new theory of international capital flows. In a framework that integrates factor-proportions-based trade and financial capital flows, a novel force emerges: capital tends to flow toward countries that become more specialized in capital-intensive industries. This composition effect competes with the standard force that channels capital toward the location where it is scarcer. If the composition effect dominates, capital flows away from the country hit by a positive labor f...
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作者：Cherchye, Laurens; De Rock, Bram; Vermeulen, Frederic
作者单位：KU Leuven; Universite Libre de Bruxelles; Universite Libre de Bruxelles; Tilburg University
摘要：We propose a collective labor supply model with. household production that generalizes a model of Blundell, Chiappori and Meghir (2005). Adults' preferences depend not only on own leisure and individual private consumption of market goods. They also depend on the consumption of domestic goods, which are produced by combining market goods with individuals' time. A new identification result, which uses production shifters, is developed. We apply our model to unique data on Dutch couples with chi...
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作者：Bianchi, Francesco
作者单位：Duke University
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作者：Boustan, Leah Platt; Kahn, Matthew E.; Rhode, Paul W.
作者单位：University of California System; University of California Los Angeles; University of California System; University of California Los Angeles; University of Michigan System; University of Michigan
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作者：Hartline, Jason D.
作者单位：Northwestern University
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作者：Matejka, Filip; Mckay, Alisdair
作者单位：Charles University Prague; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Czech Academy of Sciences; Charles University Prague; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Boston University
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作者：Schularick, Moritz; Taylor, Alan M.
作者单位：Free University of Berlin; University of Virginia
