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作者：Atkin, David; Colson-Sihra, Eve; Shayo, Moses
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Hebrew University of Jerusalem
摘要：Are identities fungible? How do people come to identify with specific groups? This paper proposes a revealed preference approach, using food consumption to uncover ethnic and religious identity choices in India. We first show that consumption of identity goods responds to forces suggested by social identity research: group status and group salience. Moreover, identity choices respond to the cost of following the group's prescribed behaviors. We propose and estimate a demand system to quantify ...
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作者：Callander, Steven; Lambert, Nicolas S.; Matouschek, Niko
作者单位：Stanford University; Massachusetts Institute of Technology (MIT); Northwestern University
摘要：Expert advice often extends beyond a simple recommendation, including information about alternative options. To explore the role of this referential advice, we enrich the expert's informational advantage in a canonical model of communication with hard information. We show that when constructed just right, referential advice dissuades the decision maker from choosing options other than the recommendation, thereby making the recommendation itself more persuasive. We identify an equilibrium in wh...
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作者：Gollin, Douglas; Hansen, Casper Worm; Wingender, Asger Mose
作者单位：University of Oxford; University of Copenhagen
摘要：We estimate the impact of the Green Revolution in the developing world by exploiting exogenous heterogeneity in the timing and extent of the benefits derived from high-yielding crop varieties (HYVs). We find that HYVs increased yields by 44% between 1965 and 2010, with further gains coming through reallocation of inputs. Higher yields increased income and reduced population growth. A 10-year delay of the Green Revolution would in 2010 have cost 17% of GDP (gross domestic product) per capita an...
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作者：Ciliberto, Federico; Murry, Charles; Tamer, Elie
作者单位：University of Virginia; Boston College; Harvard University
摘要：We provide an econometric framework for estimating a game of simultaneous entry and pricing decisions while allowing for correlations between unobserved cost and demand shocks. We use our framework to account for selection in the pricing stage. We estimate the model using data from the US airline industry and find that not accounting for endogenous entry leads to biased estimation of demand elasticities. We simulate a merger between American and US Airways and find that product repositioning a...
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作者：Ashlagi, Itai; Kanoria, Yash; Leshno, Jacob D.
作者单位：Stanford University; Columbia University; University of Chicago
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作者：Makris, Miltiadis; Pavan, Alessandro
作者单位：University of Kent; Northwestern University
摘要：We study optimal income taxation when workers' productivity is stochastic and evolves endogenously because of learning by doing. Learning by doing calls for higher wedges and alters the relation between wedges and tax rates. In a calibrated model, we find that reforming the US tax code brings significant welfare gains and that a simple tax code invariant to past incomes is approximately optimal. We isolate the role of learning by doing by comparing the aforementioned tax code to its counterpar...
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作者：Debortoli, Davide; Nunes, Ricardo; Yared, Pierre
作者单位：Pompeu Fabra University; Centre de Recerca en Economia Internacional (CREI); Centre for Economic Policy Research - UK; University of Surrey; Columbia University; National Bureau of Economic Research
摘要：According to the Lucas-Stokey result, a government can structure its debt maturity to guarantee commitment to optimal fiscal policy by future governments. In this paper, we overturn this conclusion, showing that it does not generally hold in the same model and under the same definition of time consistency as in Lucas-Stokey. Our argument rests on the existence of an overlooked commitment problem that cannot be remedied with debt maturity: a government in the future will not necessarily tax abo...
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作者：Giglio, Stefano; Xiu, Dacheng
作者单位：Yale University; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); University of Chicago
摘要：Standard estimators of risk premia in linear asset pricing models are biased if some priced factors are omitted. We propose a three-pass method to estimate the risk premium of an observable factor, which is valid even when not all factors in the model are specified or observed. The risk premium of the observable factor can be identified regardless of the rotation of the other control factors if together they span the true factor space. Our approach uses principal components of test asset retur...
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作者：Kilenthong, Weerachart T.; Townsend, Robert M.
作者单位：University Thai Chamber Commerce; Massachusetts Institute of Technology (MIT)
摘要：In economies with a continuum of agents of different types, pecuniary externalities are removed with market exchanges. Agents choose from among various possible prices they want to prevail in the future and buy or sell rights in these market exchanges for future trade. Each agent can choose the exchange it wants without regard to what any other agent is doing. But crucially, the right to trade in each and every exchange is priced. The fee structure has a per-unit price and quantity decompositi...
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作者：Aggeborn, Linuz; Ohman, Mattias
作者单位：Uppsala University
摘要：Water fluoridation is a common but debated public policy. In this paper, we use Swedish registry data to study the causal effects of fluoride in drinking water. We exploit exogenous variation in natural fluoride stemming from variation in geological characteristics at water sources to identify its effects. First, we reconfirm the long-established positive effect of fluoride on dental health. Second, we estimate a zero effect on cognitive ability in contrast to several recent debated epidemiolo...
