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作者：Hotz, V. Joseph; Xiao, Mo
作者单位：Duke University; University of Arizona
摘要：We examine the impact of state child care regulations on the supply and quality of care in child care markets. We exploit panel data on both individual establishments and local markets to control for state, time, and, where possible, establishment-specific fixed effects to mitigate the potential bias due to policy endogeneity. We find that the imposition of regulations reduces the number of center-based child care establishments, especially in lower income markets. However, such regulations in...
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作者：Plott, Charles R.; Zeiler, Kathryn
作者单位：California Institute of Technology; Georgetown University
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作者：Hornstein, Andreas; Krusell, Per; Violante, Giovanni L.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Richmond; Stockholm University; New York University; National Bureau of Economic Research
摘要：We propose a new measure of frictional wage dispersion: the mean-min wage ratio. For a large class of search models, we show that this measure is independent of the wage-offer distribution but depends on statistics of labor-market turnover and on preferences. Under plausible preference parameterizations, observed magnitudes for worker flows imply that in the basic search model, and in most of its extensions, frictional wage dispersion is very small. Notable exceptions are some of the most rece...
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作者：Bianchi, Javier
作者单位：New York University; University of Wisconsin System; University of Wisconsin Madison
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作者：Goldfarb, Avi; Xiao, Mo
作者单位：University of Toronto; University of Arizona
摘要：We examine US local telephone markets shortly after the Telecommunications Act of 1996. The data suggest that more experienced, better-educated managers tend to enter markets with fewer competitors. This motivates a structural econometric model based on behavioral game theory that allows heterogeneity in managers' ability to conjecture competitor behavior. We find that manager characteristics are key determinants in managerial ability. This estimate of ability predicts out-of-sample success. A...
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作者：Buera, Francisco J.; Kaboski, Joseph P.; Shin, Yongseok
作者单位：University of California System; University of California Los Angeles; University of Notre Dame; Washington University (WUSTL); Federal Reserve System - USA; Federal Reserve Bank - St. Louis
摘要：We develop a quantitative framework to explain the relationship between aggregate/ sector-level total factor productivity (TFP) and financial development across countries. Financial frictions distort the allocation of capital and entrepreneurial talent across production units, adversely affecting measured productivity. In our model, sectors with larger scales of operation (e. g., manufacturing) have more financing needs, and are hence disproportionately vulnerable to financial frictions. Our q...
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作者：Reinhart, Carmen M.; Rogoff, Kenneth S.
作者单位：National Bureau of Economic Research; Harvard University
摘要：Newly developed historical time series on public debt, along with data on external debts, allow a deeper analysis of the debt cycles underlying serial debt and banking crises. We test three related hypotheses at both world aggregate levels and on an individual country basis. First, external debt surges are an antecedent to banking crises. Second, banking crises (domestic and those in financial centers) often precede or accompany sovereign debt crises; we find they help predict them. Third, pub...
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作者：James, Jonathan G.; Lawler, Phillip
作者单位：Swansea University
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作者：Bishop, Kelly C.; Murphy, Alvin D.
作者单位：Washington University (WUSTL)
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作者：Guimaraes, Bernardo; Sheedy, Kevin D.
作者单位：University of London; London School Economics & Political Science
