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作者：Demir, Banu; Fieler, Ana Cecilia; Xu, Daniel Yi; Yang, Kelly Kaili
作者单位：University of Oxford; Ihsan Dogramaci Bilkent University; Centre for Economic Policy Research - UK; Yale University; National Bureau of Economic Research; Duke University; Indiana University System; Indiana University Bloomington
摘要：We document strong skill matching in Turkish firms' production networks. Additionally, in the data, export demand shocks from rich countries increase firms' skill intensity and their trade with skill-intensive domestic partners. We explain these patterns using a quantitative model with heterogeneous firms, quality choices, and endogenous networks. A counterfactual economy-wide export demand shock of 5% leads both exporters and nonexporters to upgrade quality, raising the average wage by 1.2%. ...
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作者：Rotberg, Shahar; Steinberg, Joseph B.
作者单位：University of Toronto
摘要：Wealth inequality has prompted calls for higher taxes on capital income and wealth but also concerns that rich households would respond by concealing their assets offshore. We use a general equilibrium model to study how taxing capital more heavily would affect offshore tax evasion and how this would affect the broader economy. Without evasion, tax revenue could be increased dramatically, inequality could be reduced, and widespread welfare gains could be achieved. After accounting for evasion,...
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作者：Berlinski, Samuel; Ferreyra, Maria Marta; Flabbi, Luca; Martin, Juan David
作者单位：Inter-American Development Bank; IZA Institute Labor Economics; The World Bank; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：We develop and estimate a model of supply and demand for childcare. On the demand side, households make consumption, labor supply, and childcare decisions. On the supply side, centers make entry, price, and quality decisions. In addition, both paid and informal caregivers are available. Child development is a function of the time spent with parents and nonparental care providers. We estimate the model using data from the Early Childhood Longitudinal Study, Birth Cohort, and perform policy expe...
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作者：Mazzonna, Fabrizio; Peracchi, Franco
作者单位：Universita della Svizzera Italiana; University of Rome Tor Vergata
摘要：We investigate whether older people correctly perceive their cognitive decline and the potential financial consequences of misperception. First, we show that older people tend to underestimate their cognitive decline. We then show that those experiencing a severe decline but unaware of it are more likely to suffer wealth losses. These losses largely reflect decreases in financial wealth and are mainly experienced by wealthier people who were previously active on the stock market. Our findings ...
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作者：Bhattacharya, Debopam; Shvets, Julia
作者单位：University of Cambridge
摘要：How do elite universities balance diversity and academics during admissions? We develop a theory-based empirical framework to identify and quantify this potential trade-off, using postentry outcomes. We apply this to matched admission and exam-performance data from Cambridge. Comparing first- versus second-round admits from different demographic groups yields bounds on the trade-off magnitude, which (a) hold irrespective of whether we observe all applicant characteristics and (b) require no in...
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作者：Cox, Lydia; Mueller, Gernot J.; Pasten, Ernesto; Schoenle, Raphael; Weber, Michael
作者单位：University of Wisconsin System; University of Wisconsin Madison; National Bureau of Economic Research; Eberhard Karls University of Tubingen; Center for Economic & Policy Research (CEPR); Central Bank of Chile; Brandeis University; University of Chicago
摘要：Big G typically refers to aggregate government spending on a homogeneous good. We confront this notion with five facts for the universe of federal purchases. First, they are volatile and account for the largest part of the short-run variation in total spending. Second, the origin of their variation is granular. Third, purchases are subject to procurement and bidding. Fourth, they are concentrated in long-term contracts. Fifth, their composition is biased toward sectors in which private sector ...
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作者：Lin, Xiao; Liu, Ce
作者单位：University of Pennsylvania; Michigan State University
摘要：We propose a new notion of credibility for Bayesian persuasion problems. A disclosure policy is credible if the sender cannot profit from tampering with her messages while keeping the message distribution unchanged. We show that the credibility of a disclosure policy is equivalent to a cyclical monotonicity condition on the policy's induced distribution over states and actions. We also characterize how credibility restricts the sender's ability to persuade under different payoff structures. In...
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作者：Dickstein, Michael J.; Ho, Kate; Mark, Nathaniel
作者单位：New York University; National Bureau of Economic Research; Princeton University; Center for Economic & Policy Research (CEPR)
摘要：In the United States, households obtain health insurance through distinct market segments. To explore the economics of this segmentation, we consider the effects of pooling coverage provided through small employers and through individual marketplaces. We model households' demand for insurance and health care along with insurers' price setting to predict equilibrium choices and premiums. Applying our model to data from Oregon, we find that pooling can mitigate adverse selection in the individua...
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作者：Bolt, Wilko; Frost, Jon; Shin, Hyun Song; Wierts, Peter
作者单位：European Central Bank; De Nederlandsche Bank NV; Vrije Universiteit Amsterdam; Bank for International Settlements (BIS)
摘要：Central banks can operate with negative equity, and many have done so in history without undermining trust in fiat money. However, there are limits. How negative can central bank equity be before fiat money loses credibility? We address this question using a global game approach capital in sustaining trust in fiat money.
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作者：Verboven, Frank; Yontcheva, Biliana
作者单位：KU Leuven; Centre for Economic Policy Research - UK; University of Hamburg
摘要：We study entry restrictions in a private monopoly: the Latin notary system. Under this widespread system, the state grants notaries exclusive rights to certify important economic transactions, including real estate. To uncover the current policy goals behind the geographic entry restrictions, we develop an empirical entry model that incorporates a spatial demand model and a multioutput production model. We find that the entry restrictions serve primarily producer interests and give only a smal...
