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作者：Larrimore, Jeff; Burkhauser, Richard V.; Auten, Gerald; Armour, Philip
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; Cornell University; University of Texas System; University of Texas Austin; University of Melbourne; United States Department of the Treasury; RAND Corporation
摘要：Use of Internal Revenue Service (IRS) tax records improves researchers' ability to track income trends, although the focus on taxable market income in this research excludes important income sources. Using IRS data in combination with other data sources, we explore the effect of measuring inequality levels and trends with income, including real accrued capital gains based on Haig-Simons principles. While median market income fell 10% from 1989 to 2016, median economic income increased by 26% u...
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作者：Gershkov, Alex; Moldovanu, Benny; Strack, Philipp; Zhang, Mengxi
作者单位：Hebrew University of Jerusalem; University of Surrey; University of Bonn; Yale University
摘要：We derive the symmetric, revenue-maximizing allocation of several units among agents who take costly actions that influence their values. The problem is equivalent to a reduced-form model where agents have nonexpected utility. The uniform-price auction and the discriminatory pay-your-bid auction with reserve prices that react to both demand and supply constitute symmetric, optimal mechanisms. We also identify a condition under which the overall optimal mechanism is indeed symmetric and illustr...
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作者：Fagereng, Andreas; Mogstad, Magne; Ronning, Marte
作者单位：BI Norwegian Business School; University of Chicago; Statistics Norway
摘要：We show that family background matters significantly for children's accumulation of wealth and investor behavior as adults, even when removing the genetic connection between children and the parents raising them. The analysis is made possible by linking Korean-born children who were adopted at infancy by Norwegian parents to a population panel data set with detailed information on wealth and socioeconomic characteristics. The mechanism by which these Korean-Norwegian adoptees were assigned to ...
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作者：Rhodes, Andrew; Watanabe, Makoto; Zhou, Jidong
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Vrije Universiteit Amsterdam; Yale University
摘要：This paper develops a new framework for studying multiproduct intermediaries when consumers demand multiple products and face search frictions. We show that a multiproduct intermediary is profitable even when it does not improve consumer search efficiency. The intermediary optimally stocks high-value products exclusively to attract consumers to visit and then profits by selling nonexclusive products that are relatively cheap to buy from upstream suppliers. Relative to the social optimum, the i...
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作者：Blomquist, Soren; Newey, Whitney K.; Kumar, Anil; Liang, Che-Yuan
作者单位：Uppsala University; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Dallas
摘要：The elasticity of taxable income is vital when predicting the effect of taxes. Bunching at kinks/notches has been used to estimate this elasticity. We show that when the preference distribution is unrestricted, bunching at a kink or a notch is not informative about the size of the elasticity, and neither is the entire distribution of taxable income. Bunching identifies the taxable income elasticity when the preference distribution is correctly specified across the kink and provides bounds unde...
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作者：Brocas, Isabelle; Carrillo, Juan D.
作者单位：University of Southern California; Center for Economic & Policy Research (CEPR)
摘要：We develop a novel graphical paradigm of a strict-dominance-solvable game to study the developmental trajectory of steps of reasoning between 8 years old and adulthood. Most participants play the equilibrium action either always or only when they have a dominant strategy. Although age is a determinant of equilibrium choice, some very young participants display an innate ability to play at equilibrium. Finally, the proportion of equilibrium play increases significantly until fifth grade and sta...
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作者：Hoffman, Mitchell; Tadelis, Steven
作者单位：University of Toronto; National Bureau of Economic Research; University of California System; University of California Berkeley; Center for Economic & Policy Research (CEPR); Leibniz Association; Ifo Institut
摘要：How much do a manager's interpersonal skills with subordinates, which we call people management skills, affect employee outcomes? Are managers rewarded for having such skills? Using personnel data from a large high-tech firm, we show that survey-measured people management skills have a strong negative relation to employee turnover. A causal interpretation is reinforced by several research designs, including those exploiting new workers joining the firm and workers switching managers. However, ...
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作者：Leibovici, Fernando
作者单位：Federal Reserve System - USA
摘要：This paper studies the industry-level and aggregate implications of financial development on international trade. I set up a multi-industry general equilibrium model of international trade with input-output linkages and heterogeneous firms subject to financial frictions. Industries differ in capital intensity, which leads to differences in external finance dependence. The model is parameterized to match key features of firm-level data. Financial development leads to substantial reallocation of...
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作者：Rubin, Amir; Rubin, Eran
作者单位：Simon Fraser University; Reichman University; California State University System; California State University Fresno
摘要：We analyze the extent to which citing practices may be driven by strategic considerations. The discontinuation of the Journal of Business (JB) in 2006 for extraneous reasons serves as an exogenous shock for analyzing strategic citing behavior. Using a difference-in-differences analysis, we find that articles published in JB before 2006 experienced a relative reduction in citations of approximately 20% after 2006. Since the discontinuation of JB is unrelated to the scientific contributions of i...
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作者：Cerigioni, Francesco
作者单位：Pompeu Fabra University
摘要：Evidence from the cognitive sciences suggests that some choices are conscious and reflect individual volition, while others tend to be automatic. Under these circumstances, standard economic modeling might not always be applicable because not all choices are the result of individual tastes. We propose a behavioral model that can be used in standard economic analysis that formalizes the way in which conscious and automatic choices arise. We then present a novel method capable of identifying a s...
