The American Economic Review

最新文章

• Recurrent hyperinflations and learning AI翻译
  作者：Marcet, A; Nicolini, JP
  作者单位：Pompeu Fabra University; Universidad Torcuato Di Tella
  摘要：We use a model of boundedly rational learning to account for the observations of recurrent hyperinflations, in the 1980's. In a standard monetary model we replace the assumption of full rational expectations by a formal definition of quasi-rational learning. The model under learning matches some crucial stylized facts observed during the recurrent hyperinflations experienced by several countries in the 1980's remarkably well. We argue that, despite being a small departure from rational expecta...
• Estimating regulation-induced substitution: The effect of the Clean Air Act on water and ground pollution AI翻译
  作者：Greenstone, M
  作者单位：University of Chicago; National Bureau of Economic Research
• Monetary and nonmonetary punishment in the voluntary contributions mechanism AI翻译
  作者：Masclet, D; Noussair, C; Tucker, S; Villeval, MC
  作者单位：Centre National de la Recherche Scientifique (CNRS); Ecole Normale Superieure de Lyon (ENS de LYON); Universite Claude Bernard Lyon 1; Universite Jean Monnet; Universite Lyon 2; Emory University; University of Canterbury
• Information, international substitutability, and globalization AI翻译
  作者：Rauch, JE; Trindade, V
  作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; Syracuse University
  摘要：Improved information allows home firms to rule out more potential foreign trade partners in advance of attempting to form a match. The increased responsiveness to country wage or goods price differentials resulting from this better first cut causes the general-equilibrium elasticity of substitution between national labor forces or the Armington elasticity of substitution between domestic and imported output to increase. Further results include an increase in the elasticity of domestic labor de...
• Are mergers beneficial to consumers? Evidence from the market for bank deposits AI翻译
  作者：Focarelli, D; Panetta, F
  作者单位：European Central Bank; Bank of Italy
  摘要：The general conclusion of the empirical literature is that in-market consolidation generates adverse price changes, harming consumers. Previous studies, however, look only at the short-run pricing impact of consolidation, ignoring effects that take longer to materialize. Using a database that includes detailed information on the deposit rates of individual banks in local markets for different categories of depositors, we investigate the long-run price effects of mergers. We find strong evidenc...
• Verifying the solution from a nonlinear solver: A case study AI翻译
  作者：McCullough, BD; Vinod, HD
  作者单位：Drexel University; Drexel University; Fordham University
• Caballero meets Bewley: The permanent-income hypothesis in general equilibrium AI翻译
  作者：Wang, N
  作者单位：University of Rochester
• At what level of labor-market intermittency are women penalized? AI翻译
  作者：Hotchkiss, JL; Pitts, MM
  作者单位：University System of Georgia; Georgia State University; Federal Reserve System - USA; Federal Reserve Bank - Atlanta
• Catching up: Wages of black men AI翻译
  作者：Welch, F
  作者单位：Texas A&M University System; Texas A&M University College Station
• Valuing Biodiversity from an economic perspective: A unified economic, ecological, and genetic approach AI翻译
  作者：Brock, WA; Xepapadeas, A
  作者单位：University of Wisconsin System; University of Wisconsin Madison; University of Crete
  摘要：We develop a conceptual framework for valuing biodiversity from an economic perspective. We argue for a dynamic economic welfare measure of biodiversity that complements the literature on benefit-cost approaches and genetic distance/phylogenic tree approaches. Using a unified model of optimal economic management of an ecosystem under ecological and genetic constraints, we identify gains from management policies leading to a more diverse system, using the Bellman state valuation function of the...