The American Economic Review

最新文章

• The role of social capital in financial development AI翻译
  作者：Guiso, L; Sapienza, P; Zingales, L
  作者单位：Northwestern University; University of Chicago
  摘要：To identify the effect of social capital on financial development, we exploit social capital differences within Italy. In high-social-capital areas, households are more likely to use checks, invest less in cash and more in stock, have higher access to institutional credit, and make less use of informal credit. The effect of social capital is stronger where legal enforcement is weaker and among less educated people. These results are not driven by omitted environmental variables, since we show ...
• Medical compliance and income-health gradients AI翻译
  作者：Case, A; Le Roux, I; Menendez, A
  作者单位：Princeton University; University of Chicago
• A group rule-utilitarian approach to voter turnout: Theory and evidence AI翻译
  作者：Coate, S; Conlin, M
  作者单位：Cornell University; Syracuse University
  摘要：This paper explores a group rule-utilitarian approach to understanding voter turnout, inspired by the theoretical work of John C Harsanyi (1980) and Timothy J. Feddersen and Alvaro Sandroni (2002). It develops a model based on this approach and studies its performance in explaining turnout in Texas liquor referenda. The results are encouraging: the comparative static predictions of the model are broadly consistent with the data, and a structurally estimated version of the model yields reasonab...
• The interest rate, learning, and inventory investment AI翻译
  作者：Maccini, LJ; Moore, BJ; Schaller, H
  作者单位：Johns Hopkins University; Fordham University; Carleton University
  摘要：This paper presents a model that provides an explanation, based on regime switching in the real interest rate and learning, of why tests based on stock-adjustment models, Euler equations, or decision rules-which emphasize short-run fluctuations in inventories and the interest rate-are unlikely to uncover a negative relationship between inventories and the real interest rate. The model, however, predicts that inventories will respond to long-run movements, that is, to regime shifts in the real ...
• Inequality aversion, efficiency, and maximin preferences in simple distribution experiments AI翻译
  作者：Engelmann, D; Strobel, M
  作者单位：Charles University Prague; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Czech Academy of Sciences; Maastricht University
  摘要：We present simple one-shot distribution experiments comparing the relative importance of efficiency concerns, maximin preferences, and inequality aversion, as well as the relative performance of the fairness theories by Gary E Bolton and Axel Ockenfels and by Ernst Fehr and Klaus M. Schmidt. While the Fehr-Schmidt theory performs better in a direct comparison, this appears to be due to being in line with maximin preferences. More importantly, we find that a combination of efficiency concerns, ...
• Running to keep in the same place: Consumer choice as a game of status AI翻译
  作者：Hopkins, E; Kornienko, T
  作者单位：University of Edinburgh; University of Stirling
  摘要：If individuals care about their status, defined as their rank in the distribution of consumption of one positional good, then the consumer's problem is strategic as her utility depends on the consumption choices of others. In the symmetric Nash equilibrium, each individual spends an inefficiently high amount on the status good. Using techniques from auction theory, we analyze the effects of exogenous changes in the distribution of income. In a richer society, almost all individuals spend more ...
• Workers' education, spillovers, and productivity: Evidence from plant-level production functions AI翻译
  作者：Moretti, E
  作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research
  摘要：I assess the magnitude of human capital spillovers by estimating production functions using a unique firm-worker matched data set. Productivity of plants in cities that experience large increases in the share of college graduates rises more than the productivity of similar plants in cities that experience small increases in the share of college graduates. These productivity gains are offset by increased labor costs. Using three alternative measures of economic distance-input-output flows, tech...
• The structure of wages and internal mobility AI翻译
  作者：Lazear, EP; Oyer, P
  作者单位：Stanford University; Stanford University
• Conducting monetary policy at very low short-term interest rates AI翻译
  作者：Bernanke, BS; Reinhart, VR
  作者单位：Federal Reserve System - USA
• Public housing, housing vouchers, and student achievement: Evidence from public housing demolitions in Chicago AI翻译
  作者：Jacob, BA
  作者单位：Harvard University
  摘要：This paper utilizes a plausibly exogenous source of variation in housing assistance generated by public housing demolitions in Chicago to examine the impact of high-rise public housing on student outcomes. I find that children in households affected by the demolitions do no better or worse than their peers on a wide variety of achievement measures. Because the majority of households that leave high-rise public housing in response to the demolitions move to neighborhoods and schools that closel...