The American Economic Review

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• A Structural Analysis of Disappointment Aversion in a Real Effort Competition AI翻译
  作者：Gill, David; Prowse, Victoria
  作者单位：University of Oxford; Cornell University
  摘要：We develop a novel computerized real effort task, based on moving sliders across a screen, to test experimentally whether agents are disappointment averse when they compete in a real effort sequential-move tournament. We predict that a disappointment averse agent, who is loss averse around her endogenous choice-acclimating expectations-based reference point, responds negatively to her rival's effort. We find significant evidence for this discouragement effect, and use the Method of Simulated M...
• The Currency of Reciprocity: Gift Exchange in the Workplace AI翻译
  作者：Kube, Sebastian; Marechal, Michel Andre; Puppe, Clemens
  作者单位：University of Bonn; University of Zurich; Helmholtz Association; Karlsruhe Institute of Technology
• International Shock Transmission after the Lehman Brothers Collapse: Evidence from Syndicated Lending AI翻译
  作者：De Haas, Ralph; Van Horen, Neeltje
  作者单位：European Bank of Reconstructon & Development; European Central Bank; De Nederlandsche Bank NV
• The Employment of Low-Skilled Immigrant Men in the United States AI翻译
  作者：Duncan, Brian; Trejo, Stephen J.
  作者单位：University of Colorado System; University of Colorado Denver; University of Texas System; University of Texas Austin
• Dynamic Inefficiencies in an Employment-Based Health Insurance System: Theory and Evidence AI翻译
  作者：Fang, Hanming; Gavazza, Alessandro
  作者单位：University of Pennsylvania; New York University
  摘要：We investigate the effects of the institutional settings of the US health care system on individuals' life-cycle medical expenditures. Health is a form of general human capital; labor turnover and labor-market frictions prevent an employer-employee pair from capturing the entire surplus from investment in an employee's health. Thus, the pair underinvests in health during working years, thereby increasing medical expenditures during retirement. We provide empirical evidence consistent with the ...
• An Experimental Component Index for the CPI: From Annual Computer Data to Monthly Data on Other Goods AI翻译
  作者：Erickson, Tim; Pakes, Ariel
  作者单位：United States Department of Labor; Harvard University
  摘要：The CPI component indices are obtained from comparing price quotes at a given store in different periods. If we omit comparisons from goods in the store in the initial, but not in the comparison, period we generate a selection bias: goods that exit are disproportionately obsolete goods that have falling prices. Building on Pakes (2003), we explain why standard hedonic predictions for second-period prices of exiting goods do not account for this bias. New hedonic methods are derived, shown to h...
• Corrective Taxation versus Liability AI翻译
  作者：Shavell, Steven
  作者单位：Harvard University
• The Long Slump AI翻译
  作者：Hall, Robert E.
  作者单位：Stanford University; Stanford University; National Bureau of Economic Research
  摘要：In a market-clearing economy, declines in demand from one sector do not cause large declines in aggregate output because other sectors expand. The key price mediating the response is the interest rate. A decline in the rate stimulates all categories of spending. But in a low-inflation economy, the room for a decline in the rate is small, because of the notorious lower limit of zero on the nominal interest rate. In the Great Depression, substantial deflation caused the real interest rate to rea...
• Choice Inconsistencies among the Elderly: Evidence from Plan Choice in the Medicare Part D Program AI翻译
  作者：Abaluck, Jason; Gruber, Jonathan
  作者单位：Massachusetts Institute of Technology (MIT)
  摘要：We evaluate the choices of elders across their insurance options under the Medicare Part D Prescription Drug plan, using a unique dataset of prescription drug claims matched to information on the characteristics of choice sets. We document that elders place much more weight on plan premiums than on expected out-of-pocket costs; value plan financial characteristics beyond any impacts on their own financial expenses or risk; and place almost no value on variance-reducing aspects of plans. Partia...
• The Effect of Female Education on Fertility and Infant Health: Evidence from School Entry Policies Using Exact Date of Birth AI翻译
  作者：McCrary, Justin; Royer, Heather
  作者单位：University of California System; University of California Berkeley; University of California System; University of California Santa Barbara
  摘要：This paper uses age-at-school-entry policies to identify the effect of female education on fertility and infant health. We focus on sharp contrasts in schooling, fertility, and infant health between women born just before and after the school entry date. School entry policies affect female education and the quality of a woman's mate and have generally small, but possibly heterogeneous, effects on fertility and infant health. We argue that school entry policies manipulate primarily the educatio...