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作者：Gabaix, Xavier
作者单位：Harvard University; National Bureau of Economic Research; Centre for Economic Policy Research - UK
摘要：This paper analyzes how bounded rationality affects monetary and fiscal policy via an empirically relevant enrichment of the New Keynesian model. It models agents' partial myopia toward distant atypical events using a new microfounded cognitive discounting parameter. Compared to the rational model, (i) there is no forward guidance puzzle; (ii) the Taylor principle changes: with passive monetary policy but enough myopia equilibria are determinate and economies stable; (iii) the zero lower bound...
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作者：Harari, Mariaflavia
作者单位：University of Pennsylvania
摘要：The spatial layout of cities is an important feature of urban form, highlighted by urban planners but overlooked by economists. This paper investigates the causal economic implications of city shape in India. I measure cities' geometric properties over time using satellite imagery and historical maps. I develop an instrument for urban shape based on geographic obstacles encountered by expanding cities. Compact city shape is associated with faster population growth and households display positi...
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作者：Meckel, Katherine
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research
摘要：Quantity vouchers are used in redistributive programs to shield participants from price variation and alter their consumption patterns. However, because participants are insensitive to prices, vendors of program goods are incentivized to price discriminate between program and non program customers. I study these trade-offs in the context of a reform to reduce price discrimination in the Supplemental Nutrition Program for Women, Infants, and Children (WIC), which provides a quantity voucher for...
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作者：Piazzesi, Monika; Schneider, Martin; Stroebel, Johannes
作者单位：National Bureau of Economic Research; New York University
摘要：We study housing markets with multiple segments searched by heterogeneous clienteles. In the San Francisco Bay Area, search activity and inventory covary negatively across cities, but positively across market segments within cities. A quantitative search model shows how the endogenous flow of broad searchers to -high-inventory segments within their search ranges induces a positive relationship between inventory and search activity across segments with a large common clientele. The prevalence o...
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作者：Daley, Brendan; Green, Brett
作者单位：Johns Hopkins University; Johns Hopkins Medicine; Washington University (WUSTL)
摘要：We study a bargaining model in which a buyer makes frequent offers to a privately informed seller, while gradually learning about the seller's type from news. We show that the buyer's ability to leverage this information to extract more surplus from the seller is remarkably limited. In fact, the buyer gains nothing from the ability to negotiate a better price despite the fact that a negotiation must take place in equilibrium. During the negotiation, the buyer engages in a form of costly experi...
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作者：Einav, Liran; Finkelstein, Amy; Oostrom, Tamar; Ostriker, Abigail; Williams, Heidi
作者单位：Stanford University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT); University System of Ohio; Ohio State University
摘要：We analyze selection into screening in the context of recommendations that breast cancer screening start at age 40. Combining medical claims with a clinical oncology model, we document that compliers with the recommendation are less likely to have cancer than younger women who select into screening or women who never screen. We show this selection is quantitatively important: shifting the recommendation from age 40 to 45 results in three times as many deaths if compliers were randomly selected...
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作者：Andrabi, Tahir; Das, Jishnu; Khwaja, Asim, I; Ozyurt, Selcuk; Singh, Niharika
作者单位：Claremont Colleges; Pomona College; Georgetown University; Harvard University; York University - Canada
摘要：We assess whether financing can help private schools, which now account for one-third of primary school enrollment in low- and middle-income countries. Our experiment allocated unconditional cash grants to either one (L) or all (H) private schools in a village. In both, arms, enrollment and revenues increased, leading to above market returns. However, test scores increased only in H schools, accompanied by higher fees, and a greater focus on teachers. We provide a model demonstrating that mark...
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作者：Cai, Jing; de Janvry, Alain; Sadoulet, Elisabeth
作者单位：University System of Maryland; University of Maryland Baltimore; National Bureau of Economic Research; University of California System; University of California Berkeley
摘要：Using data from a two-year pricing experiment, we study the impact of subsidy policies on weather insurance take-up. Results show that subsidies increase future insurance take-up through their influence on payout experiences. Exploring mechanisms of the payout effect, we find that for households that randomly benefited from financial education, receiving a payout provides a one-time learning experience that improves take-up permanently. In contrast, households with poor insurance knowledge con...
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作者：Feyrer, James; Mansur, Erin T.; Sacerdote, Bruce, I
作者单位：Dartmouth College; Dartmouth College
摘要：Measuring the geographic spillovers from an economic shock remains a challenging econometric problem. In Feyrer, Mansur, and Sacerdote (2017) we study the propagation of positive shocks from the recent boom in oil and gas production in the United States. We regress changes in income per capita on new energy production per capita within increasingly larger geographic circles. James and Smith (2020) proposes instead a single regression of county income per capita on energy production from succes...
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作者：Sugaya, Takuo; Wolitzky, Alexander
作者单位：Stanford University; Massachusetts Institute of Technology (MIT)
摘要：We study anonymous repeated games where players may be commitment types who always take the same action. We establish a stark anti-folk theorem: if the distribution of the number of commitment types satisfies a smoothness condition and the game has a pairwise dominant action, this action is almost always taken. This implies that cooperation is impossible in the repeated prisoner's dilemma with anonymous random matching. We also bound equilibrium pay-offs for general games. Our bound implies th...
