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作者：Hristakeva, Sylvia
作者单位：University of California System; University of California Los Angeles
摘要：Producers frequently provide retailers with financial incentives to secure product distribution. These payments often take the form of vendor allowances: lump-sum transfers to retailers that do not directly depend on quantity sold. I introduce an estimation strategy that uses observed product selections to inform unobserved allowances. I use retailers' replacement threats, which may allow them to capture both vendor transfers and lower wholesale prices. A counterfactual restricts firms to cont...
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作者：Baley, Isaac; Figueiredo, Ana; Ulbricht, Robert
作者单位：Pompeu Fabra University; Barcelona School of Economics; Centre de Recerca en Economia Internacional (CREI); Centre for Economic Policy Research - UK; Pompeu Fabra University; Tinbergen Institute; Boston College
摘要：This paper studies the cyclical dynamics of skill mismatch and quantifies its impact on labor productivity. We build a tractable directed search model, in which workers differ in skills along multiple dimensions and sort into jobs with heterogeneous skill requirements. Skill mismatch arises because of information frictions and is prolonged by search frictions. Estimated to the United States, the model replicates salient business cycle properties of mismatch. Job transitions in and out of botto...
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作者：Bell, Brian; Costa, Rui; Machin, Stephen
作者单位：University of London; King's College London; University of London; London School Economics & Political Science
摘要：We provide a unifying empirical framework to study why crime reductions occurred due to a sequence of state-level dropout age reforms enacted between 1980 and 2010 in the United States. Because the reforms changed the shape of crime-age profiles, they generate both a short-term incapacitation effect and a more sustained crime-reducing effect. In contrast to previous research looking at earlier US education reforms, we find that reform-induced crime reduction does not arise primarily from educa...
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作者：Carlson, Mark; Correia, Sergio; Luck, Stephan
作者单位：Federal Reserve System - USA; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：How does banking competition affect credit provision and growth? How does it affect financial stability? In order to identify the causal effects of banking competition, we exploit a discontinuity in bank capital requirements during the nineteenth-century National Banking Era. We show that banks operating in markets with lower entry barriers extend more credit. The resulting credit expansion, in turn, is associated with additional real economic activity. However, banks in markets with lower ent...
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作者：Fioretti, Michele
作者单位：Institut d'Etudes Politiques Paris (Sciences Po)
摘要：Many firms claim that social impact influences their strategies. This paper develops a structural model that quantifies social impact as the sum of surpluses to a firm and its stakeholders. With data from a for-profit firm whose prosocial expenditures are measurable and salient to consumers, the analysis shows that the firm spends prosocially beyond profit maximization, thereby increasing welfare substantially. Incentivizing a standard profit-maximizing firm to behave similarly would require s...
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作者：Coibion, Olivier; Gorodnichenko, Yuriy; Weber, Michael
作者单位：University of Texas System; University of Texas Austin; University of California System; University of California Berkeley; University of Chicago
摘要：We study how different forms of communication influence inflation expectations in a randomized controlled trial using nearly 20,000 US individuals. We elicit individuals' inflation expectations and then provide eight different forms of information regarding inflation. Reading the actual Federal Open Market Committee (FOMC) statement has about the same average effect on expectations as simply being told about the Federal Reserve's inflation target. Reading news articles about the most recent FO...
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作者：Grenet, Julien; He, YingHua; Kubler, Dorothea
作者单位：Centre National de la Recherche Scientifique (CNRS); Paris School of Economics; Rice University; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Technical University of Berlin
摘要：We document quasi-experimental evidence against the common assumption in the matching literature that agents have full information on their own preferences. In Germany's university admissions, the first stages of the Gale-Shapley algorithm are implemented in real time, allowing for multiple offers per student. We demonstrate that nonexploding early offers are accepted more often than later offers, despite not being more desirable. These results, together with survey evidence and a theoretical ...
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作者：Yoder, Nathan
作者单位：University System of Georgia; University of Georgia
摘要：A principal (e.g., the US government) contracts with a researcher with unknown costs (e.g., a vaccine developer) to conduct a costly experiment. This contracting problem has a novel feature that captures the difference between the form of an experiment and the strength of its results: researchers face a problem of information design rather than optimal effort. Using a novel comparative static for Bayesian persuasion settings, I characterize the optimal contract and show how experimentation is ...
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作者：Doran, Kirk; Gelber, Alexander; Isen, Adam
作者单位：University of Notre Dame; IZA Institute Labor Economics; University of California System; University of California San Diego; National Bureau of Economic Research; United States Department of the Treasury
摘要：We compare winning and losing firms in lotteries for H-1B visas, matching administrative data on these lotteries to administrative tax data on US firms and to approved US patents. Winning one additional H-1B visa crowds out about 1.5 other workers at the firm. Additional H-1Bs have insignificant and at most modest effects on firm innovation. More general evidence from the universe of US firms and the universe of H-1B visas using alternative estimation strategies is consistent with these result...
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作者：Foster, Andrew D.; Rosenzweig, Mark R.
作者单位：Brown University; National Bureau of Economic Research; Yale University
摘要：We show that labor market transaction costs explain why the smallest farms are more efficient than slightly larger farms in most low-income countries and that increases in machine capacity with operational scale result in the globally observed rising upper tail of productivity. We find evidence consistent with these mechanisms using Indian data, and we show that if all Indian farms were at the minimum scale required to maximize the return on land, the number of farms would be reduced by 82% an...
