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作者：Leung, Michael P.
作者单位：University of Southern California
摘要：This paper studies causal inference in randomized experiments under network interference. Commonly used models of interference posit that treatments assigned to alters beyond a certain network distance from the ego have no effect on the ego's response. However, this assumption is violated in common models of social interactions. We propose a substantially weaker model of approximate neighborhood interference (ANI) under which treatments assigned to alters further from the ego have a smaller, b...
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作者：Kekre, Rohan; Lenel, Moritz
作者单位：National Bureau of Economic Research
摘要：We study the transmission of monetary policy through risk premia in a heterogeneous agent New Keynesian environment. Heterogeneity in households' marginal propensity to take risk (MPR) summarizes differences in portfolio choice on the margin. An unexpected reduction in the nominal interest rate redistributes to households with high MPRs, lowering risk premia and amplifying the stimulus to the real economy. Quantitatively, this mechanism rationalizes the role of news about future excess returns...
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作者：Ball, Ian; Jackson, Matthew O.; Kattwinkel, Deniz
作者单位：Massachusetts Institute of Technology (MIT); Stanford University; University of London; University College London
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作者：McClellan, Andrew
作者单位：University of Chicago
摘要：We study the design of approval rules when costly experimentation must be delegated to an agent with misaligned preferences. When the agent has the option to end experimentation, we show that in contrast to standard stopping problems, the optimal approval rule must be history-dependent. We characterize the optimal rule and show the approval threshold moves downward over the course of experimentation. We find that private information may qualitatively change the optimal mechanism: an agent can ...
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作者：Perez-Richet, Eduardo; Skreta, Vasiliki
作者单位：Institut d'Etudes Politiques Paris (Sciences Po); Center for Economic & Policy Research (CEPR); University of Texas System; University of Texas Austin
摘要：We study the optimal design of tests with manipulable inputs. Tests take a unidimensional state of the world as input and output, an informative signal to guide a receiver's approve or reject decision. The receiver wishes to only approve states that comply with her baseline standard. An agent with a preference for approval can covertly falsify the state of the world at a cost. We characterize receiver-optimal tests and show they rely on productive falsification by compliant states. They work b...
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作者：Carlana, Michela; La Ferrara, Eliana; Pinotti, Paolo
作者单位：Harvard University; IZA Institute Labor Economics; Centre for Economic Policy Research - UK; Bocconi University; Bocconi University; Bocconi University
摘要：We study the educational choices of children of immigrants in a tracked school system. We first show that immigrants in Italy enroll disproportionately into vocational high schools, as opposed to technical and academically-oriented ones, compared to natives of similar ability. The gap is greater for male students and it mirrors an analogous differential in grade retention. We then estimate the impact of a large-scale, randomized intervention providing tutoring and career counseling to high-abi...
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作者：Bloise, Gaetano; Siconolfi, Paolo
作者单位：University of Rome Tor Vergata; Columbia University
摘要：In this paper, we argue that a large class of recursive contracts can be studied by means of the conventional Negishi method. A planner is responsible for prescribing current actions along with a distribution of future utility values to all agents, so as to maximize their weighted sum of utilities. Under convexity, the method yields the exact efficient frontier. Otherwise, the implementation requires contracts be contingent on publicly observable random signals uncorrelated to fundamentals. We...
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作者：Gouin-Bonenfant, Emilien
作者单位：Columbia University
摘要：I study the effect of labor market imperfections on the labor share in a tractable model that emphasizes the interaction between productivity dispersion and firm competition for workers. I calibrate the model using administrative data covering the universe of firms in Canada from 2000 to 2015. As in the data, most firms have a high labor share, yet the aggregate labor share is low due to the disproportionate effect of a small fraction of large, highly productive firms. I find that a rise in th...
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作者：Card, David; DellaVigna, Stefano; Funk, Patricia; Iriberri, Nagore
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; Universita della Svizzera Italiana; University of Basque Country; Basque Foundation for Science
摘要：We study the selection of Fellows of the Econometric Society, using a new data set of publications and citations for over 40,000 actively publishing economists since the early 1900s. Conditional on achievement, we document a large negative gap in the probability that women were selected as Fellows in the 1933-1979 period. This gap became positive (though not statistically significant) from 1980 to 2010, and in the past decade has become large and highly significant, with over a 100% increase i...
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作者：[Anonymous]
