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作者：Bohren, J. Aislinn; Imas, Alex; Rosenberg, Michael
作者单位：University of Pennsylvania; Carnegie Mellon University
摘要：We model the dynamics of discrimination and show how its evolution can identify the underlying source. We test these theoretical predictions in a field experiment on a large online platform where users post content that is evaluated by other users on the platform. We assign posts to accounts that exogenously vary by gender and evaluation histories. With no prior evaluations, women face significant discrimination. However, following a sequence of positive evaluations, the direction of discrimin...
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作者：Kaur, Supreet
作者单位：University of California System; University of California Berkeley
摘要：This paper develops a new approach to test for downward wage rigidity by examining transitory shocks to labor demand (i.e., rainfall) across 600 Indian districts. Nominal wages rise during positive shocks but do not fall during droughts. In addition, transitory positive shocks generate ratcheting: after they have dissipated, wages do not adjust back down. Ratcheting reduces employment by 9 percent, indicating that rigidities distort employment levels. Inflation, which is unaffected by local ra...
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作者：Garriga, Carlos; Manuelli, Rodolfo; Peralta-Alva, Adrian
作者单位：Federal Reserve System - USA; Federal Reserve Bank - St. Louis; Washington University (WUSTL); Federal Reserve System - USA; Federal Reserve Bank - St. Louis; International Monetary Fund
摘要：This paper shows that a macro model with segmented financial markets can generate sizable movements in housing prices in response to changes in credit conditions. We establish - theoretically that reductions in mortgage rates always have a positive effect on prices, whereas the relaxation of loan-to-value constraints has ambiguous effects. A quantitative version of the model under perfect foresight accounts for about one-half of the observed price increase in the United States in the 2000s. Wh...
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作者：Nordhaus, William
作者单位：Yale University
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作者：Fack, Gabrielle; Grenet, Julien; He, Yinghua
作者单位：Universite PSL; Universite Paris-Dauphine; Centre National de la Recherche Scientifique (CNRS); Institut de Recherche pour le Developpement (IRD); Laboratoire dEconomie de Dauphine LEDa; Paris School of Economics; Centre National de la Recherche Scientifique (CNRS); Paris School of Economics; Rice University
摘要：We propose novel approaches to estimating student preferences with data from matching mechanisms, especially the Gale-Shapley deferred acceptance. Even if the mechanism is strategy-proof, assuming that students truthfully rank schools in applications may he restrictive. We show that when students are ranked strictly by some ex ante known priority index (e.g., test scores), stability is a plausible and weaker assumption, implying that every student is matched with her favorite school/college am...
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作者：Byrne, David P.; de Roos, Nicolas
作者单位：University of Melbourne; University of Sydney
摘要：This paper studies equilibrium selection in the retail gasoline industry. We exploit a unique dataset that contains the universe of station-level prices for an urban market for 15 years, and that encompasses a coordinated equilibrium transition mid-sample. We uncover a gradual, three-year equilibrium transition, whereby dominant firms use price leadership and price experiments to create focal points that coordinate market prices, soften price competition, and enhance retail margins. Our result...
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作者：Sampat, Bhaven; Williams, Heidi L.
作者单位：Columbia University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT)
摘要：We investigate whether patents on human genes have affected follow-on scientific research and product development. Using administrative data on successful and unsuccessful patent applications submitted to the US Patent and Trademark Office, we link the exact gene sequences claimed in each application with data measuring follow-on scientific research and commercial investments. Using these data, we document novel evidence of selection into patenting: patented genes appear more valuable-prior to...
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作者：Bassetto, Marco; Galli, Carlo
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago; University of London; University College London
摘要：We study the information sensitivity of government debt denominated in domestic versus foreign currency: the former is subject to inflation risk and the latter to default. Default only affects sophisticated bond traders, whereas inflation concerns a larger and less informed group. Within a - two-period Bayesian trading game, differential information manifests itself in the secondary market, and we display conditions under which debt prices are more resilient to bad news even in the primary mar...
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作者：Cloyne, James; Huber, Kilian; Ilzetzki, Ethan; Kleven, Henrik
作者单位：University of California System; University of California Davis; University of Chicago; University of London; London School Economics & Political Science; Princeton University
摘要：We investigate the effect of house prices on household borrowing using administrative mortgage data from the United Kingdom and a new empirical approach. The data contain household-level information on house prices and borrowing in a panel of homeowners, who refinance at regular and quasi-exogenous intervals. The data and setting allow us to develop an empirical approach that exploits house price variation coming from the idiosyncratic and exogenous timing of refinance events around the Great ...
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作者：Asker, John; Collard-Wexler, Allan; De Loecker, Jan
作者单位：Columbia University; Duke University; National Bureau of Economic Research; KU Leuven
摘要：We propose an approach to measuring the misallocation of production in a market that compares actual industry cost curves to undistorted (counterfactual) supply curves. As compared to traditional, TFPR-based, misallocation measures, this approach leverages cost data, such. that results are readily mapped to welfare metrics. As an application, we analyze global crude oil extraction and quantifj the extent of misallocation therein, together with the proportion attributable to market power. From ...
