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作者：Kleinman, Benny; Liu, Ernest; Redding, Stephen J.
作者单位：Princeton University; Princeton University
摘要：We incorporate forward-looking capital accumulation into a dynamic discrete choice model of migration. We characterize the steady-state equilibrium; generalize existing dynamic exact-hat algebra techniques to incorporate investment; and linearize the model to provide an analytical characterization of the economy's transition path using spectral analysis. We show that capital and labor dynamics interact to shape the economy's speed of adjustment toward steady state. We implement our quantitativ...
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作者：Lauermann, Stephan; Speit, Andre
作者单位：University of Bonn
摘要：This paper studies a first-price common-value auction in which bidders do not know the number of their competitors. In contrast to the case of common-value auctions with a known number of rival bidders, the inference from winning is not monotone, and a winner's blessing emerges at low bids. As a result, bidding strategies may not be strictly increasing, but instead may contain atoms. Moreover, an equilibrium fails to exist when the expected number of competitors is large and the bid space is c...
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作者：Menzio, Guido
作者单位：New York University; National Bureau of Economic Research
摘要：As search frictions in the market for a consumer product decline, buyers are able to locate and access more and more sellers. In response, sellers choose to design varieties of the product that are more and more specialized in order to take advantage of the heterogeneity in buyers' preferences. I find conditions on the fundamentals of the market under which the increase in specialization exactly offsets the decline in search frictions. Under these conditions, the extent of competition and the ...
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作者：Spenkuch, Jorg L.; Teso, Edoardo; Xu, Guo
作者单位：Northwestern University; University of California System; University of California Berkeley
摘要：We combine personnel records of the United States federal bureaucracy from 1997 to 2019 with administrative voter registration data to study how ideological alignment between politicians and bureaucrats affects turnover and performance. We document significant partisan cycles and turnover among political appointees. By contrast, we find no political cycles in the civil service. At any point in time, a sizable share of bureaucrats is ideologically misaligned with their political leaders. We stu...
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作者：Bronchetti, Erin T.; Kessler, Judd B.; Magenheim, Ellen B.; Taubinsky, Dmitry; Zwick, Eric
作者单位：Swarthmore College; University of Pennsylvania; National Bureau of Economic Research; University of California System; University of California Berkeley; University of Chicago
摘要：This paper develops and deploys a methodology for testing whether people correctly value tools that reduce attention costs. We call these tools bandwidth enhancements (BEs) and characterize how demand for BEs varies with the pecuniary incentives to be attentive, under the null hypothesis of correct perceptions and optimal choice. We examine if the theoretical optimality conditions are satisfied in three experiments. The first is a field experiment (n = 1373) with an online education platform, ...
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作者：Carrillo-Tudela, Carlos; Visschers, Ludo
作者单位：University of Essex; Centre for Economic Policy Research - UK; IZA Institute Labor Economics; University of Edinburgh; Universidad Carlos III de Madrid
摘要：This paper studies the extent to which the cyclicality of occupational mobility shapes that of aggregate unemployment and its duration distribution. We document the relation between workers' occupational mobility and unemployment duration over the long run and business cycle. To interpret this evidence, we develop a multisector business cycle model with heterogenous agents. The model is quantitatively consistent with several important features of the US labor market: procyclical gross and coun...
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作者：Roth, Jonathan; Sant'Anna, Pedro H. C.
作者单位：Brown University; Vanderbilt University
摘要：This paper assesses when the validity of difference-in-differences depends on functional form. We provide a novel characterization: the parallel trends assumption holds under all strictly monotonic transformations of the outcome if and only if a stronger parallel trends-type condition holds for the cumulative distribution function of untreated potential outcomes. This condition for parallel trends to be insensitive to functional form is satisfied if and essentially only if the population can b...
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作者：Borusyak, Kirill; Hull, Peter
作者单位：University of California System; University of California Berkeley; Centre for Economic Policy Research - UK; Brown University; University of Cambridge
摘要：We develop a new approach to estimating the causal effects of treatments or instruments that combine multiple sources of variation according to a known formula. Examples include treatments capturing spillovers in social or transportation networks and simulated instruments for policy eligibility. We show how exogenous shocks to some-but not all-determinants of such variables can be leveraged while avoiding omitted variables bias. Our solution involves specifying counterfactual shocks that may a...
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作者：Citanna, Alex; Gottlieb, Daniel; Siconolfi, Paolo; Zhang, Xingtan
作者单位：New York University; New York University Abu Dhabi; University of London; London School Economics & Political Science; Columbia University; University of Colorado System; University of Colorado Boulder
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作者：Frahm, Gabriel; Hartmann, Lorenz
作者单位：Helmut Schmidt University; University of Basel
