-
作者：Kong, Yunmi; Perrigne, Isabelle; Vuong, Quang
作者单位：Rice University; New York University
摘要：In this paper, we conduct a structural analysis of multi-attribute auctions of contracts with a general allocation rule when private information is multidimensional. Upon modeling bidders' contract value that accounts for their endogenous ex post actions, we nonparametrically identify bidders' private information from their bids and estimate their joint distribution. Analyzing cash-royalty auctions of Louisiana oil leases, we find government revenue worse and development rates no better than i...
-
作者：Card, David
作者单位：University of California System; University of California Berkeley
摘要：I discuss the recent literature that has led to new interest in the idea of monopsonistic wage setting. Building on advances in search theory and in models of differentiated products, researchers have used a number of different strategies to identify the elasticity of firm-specific labor supply. A growing consensus is that firms have some wage-setting power, though many questions remain about the sources of that power.
-
作者：Rossi, Federico
作者单位：University of Warwick
摘要：I study how the relative efficiency of high- and low-skill labor varies across countries. Using microdata for countries at different stages of development, I document that differences in relative quantities and wages are consistent with high-skill workers being relatively more productive in rich countries. I exploit variation in the skill premia of foreign-educated migrants to discriminate between two possible drivers of this pattern: cross-country differences in the skill bias of technology a...
-
作者：Leshno, Jacob D.
作者单位：University of Chicago
摘要：This paper introduces a stylized model to capture distinctive features of waiting list allocation mechanisms. First, agents choose among items with associated expected wait times. Waiting times serve a sim-ilar role to that of monetary prices in directing agents' choices and rationing items. Second, the expected wait for an item is endoge-nously determined and randomly fluctuates over time. We evaluate welfare under these endogenously determined waiting times and find that waiting time fluctua...
-
作者：Albert, Christoph; Monras, Joan
作者单位：Pompeu Fabra University; Centre de Recerca en Economia Internacional (CREI)
摘要：We document that international migrants concentrate more in expen-sive cities-the more so, the lower the prices in their origin coun-tries are-and consume less locally than comparable natives. We rationalize this empirical evidence by introducing a quantitative spatial equilibrium model, in which a part of immigrants' income goes toward consumption in their origin countries. Using counter-factual simulations, we show that, due to this novel consumption channel, immigrants move economic activit...
-
作者：Angelucci, Charles; Meraglia, Simone; Voigtlaender, Nico
作者单位：Massachusetts Institute of Technology (MIT); University of Exeter; Center for Economic & Policy Research (CEPR); University of California System; University of California Los Angeles; National Bureau of Economic Research
摘要：We study the emergence of urban self-governance in the late medie-val period. We focus on England after the Norman Conquest of 1066, building a novel comprehensive dataset of 554 medieval towns. During the Commercial Revolution (twelfth to thirteenth centuries), many merchant towns obtained Farm Grants: the right of self -gov-erned tax collection and law enforcement. Self-governance, in turn, was a stepping stone for parliamentary representation: Farm Grant towns were much more likely to be su...
-
作者：Butters, R. Andrew; Sacks, Daniel W.; Seo, Boyoung
作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business
摘要：Recent research shows prices are insensitive to local demand condiWe examine the price response to local cost shocks, including 68 excise tax changes, 76 sales tax changes, and other geographically based cost differences, using data on 35,151 retail stores in 96 multi-state chains. We find local cost shocks are passed through to local prices, with no spillovers to unaffected stores in otherwise affected chains, and at similar rates for national and local chains. Firms adjust local prices accor...
-
作者：Marone, Victoria R.; Sabety, Adrienne
作者单位：University of Texas System; University of Texas Austin; National Bureau of Economic Research; University of Notre Dame
摘要：We study the welfare effects of offering choice over coverage levels-vertical choice-in regulated health insurance markets. We emphasize that heterogeneity in efficient coverage level is not sufficient to motivate choice. When premiums cannot reflect individuals' costs, it may not be in consumers'best interest to select their efficient coverage level. We show that vertical choice is efficient only if consumers with higher willingness to pay have a higher efficient level of coverage. We investi...
-
作者：Baysan, Ceren
作者单位：University of Toronto
摘要：I evaluate randomly varied neighborhood exposure to information campaigns regarding either executive performance, or increases in executive power, prior to a Turkish referendum on weakening checks and balances on the executive. The campaigns increased voter polarization over the referendum, and subsequently changed party affiliation in national and local elections over the next two years, leading to partisan polarization. My results suggest that, when vot-ers disagree on whether increasing exe...
-
作者：Elliott, Matthew; Golub, Benjamin; Leduc, Matthew, V
作者单位：University of Cambridge; Northwestern University; Paris School of Economics
摘要：We model the production of complex goods in a large supply network. Each firm sources several essential inputs through relationships with other firms. Individual supply relationships are at risk of idiosyncratic failure, which threatens to disrupt production. To protect against this, firms multisource inputs and strategically invest to make relationships stronger, trading off the cost of investment against the benefits of increased robustness. A supply network is called fragile if aggregate ou...
