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作者：Luo, Yao; Perrigne, Isabelle; Vuong, Quang
作者单位：University of Toronto; Rice University; New York University
摘要：This paper proposes a new methodology for analyzing nonlinear pricing data. We establish identification of the model primitives with a known tariff and characterize the model restrictions on observables. We propose a quantile-based nonparametric estimator that achieves consistency at the parametric rate. We introduce unobserved product heterogeneity with an unknown tariff and show how our identification and estimation results extend. A Monte Carlo study analyzes the robustness of our methodolo...
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作者：Todd, Petra; Wolpin, Kenneth I.
作者单位：University of Pennsylvania; Rice University
摘要：This paper estimates a model of the effort decisions of students and teachers in a classroom setting to understand the performance of Mexican high school students on curriculum-based examinations. The model allows for student heterogeneity in initial mathematics preparation and knowledge preference and for teacher heterogeneity in instructional ability and preferences for student knowledge. Survey data include multiple measurements of student and teacher effort, student and teacher preferences...
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作者：Alan, Sule; Browning, Martin; Ejrnaes, Mette
作者单位：University of Essex; University of Oxford; University of Copenhagen
摘要：We develop a model of consumption and income that allows for pervasive heterogeneity in the parameters of both processes. Introducing codependence between household income parameters and preference parameters, we also allow for heterogeneity in the impact of income shocks on consumption. We estimate the parameters of the model using a sample from the Panel Study of Income Dynamics, covering the period 1968-2009. We find considerable codependent heterogeneity in the parameters governing income ...
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作者：Fox, Jeremy T.; Yang, Chenyu; Hsu, David H.
作者单位：Rice University; National Bureau of Economic Research; University of Rochester; University of Pennsylvania
摘要：Agents in two-sided matching games vary in characteristics that are unobservable in typical data on matching markets. We investigate the identification of the distribution of unobserved characteristics using data on who matches with whom. In full generality, we consider manyto-many matching and matching with trades. The distribution of matchspecific unobservables cannot be fully recovered without information on unmatched agents, but the distribution of a combination of unobservables, which we ...
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作者：Sugaya, Takuo; Wolitzky, Alexander
作者单位：Stanford University; Massachusetts Institute of Technology (MIT)
摘要：It is conventional wisdom that transparency in cartels-monitoring of competitors' prices, sales, and profits-facilitates collusion. However, in several recent cases cartels have instead worked to preserve the privacy of their participants' actions and outcomes. Toward explaining this behavior, we show that cartels can sometimes sustain higher profits when actions and outcomes are observed only privately, because better information can hinder collusion by helping firms devise more profitable de...
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作者：Ramey, Valerie A.; Zubairy, Sarah
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; Texas A&M University System; Texas A&M University College Station
摘要：We investigate whether US government spending multipliers are higher during periods of economic slack or when interest rates are near the zero lower bound. Using new quarterly historical US data covering multiple large wars and deep recessions, we estimate multipliers that are below unity irrespective of the amount of slack in the economy. These results are robust to two leading identification schemes, two different estimation methodologies, and many alternative specifications. In contrast, th...
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作者：Walters, Christopher R.
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：This paper models decisions to apply to and attend charter schools in Boston using a generalized Roy selection framework linking preferences to the achievement gains generated by charter attendance. The model is estimated with instruments based on randomized admission lotteries and distance to charter schools. Charter schools generate larger gains for disadvantaged students, but demand for charters is stronger among more advantaged students. Similarly, gains are inversely related to unobserved...
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作者：Haselmann, Rainer; Schoenherr, David; Vig, Vikrant
作者单位：Goethe University Frankfurt; Princeton University; University of London; London Business School; Center for Economic & Policy Research (CEPR)
摘要：We employ a unique data set on members of an elite service club in Germany to investigate how social connections in elite networks affect the allocation of resources. Specifically, we investigate credit allocation decisions of banks to firms inside the network. Using a quasi-experimental research design, we document misallocation of bank credit inside the network, with bankers with weakly aligned incentives engaging most actively in crony lending. Our findings, thus, resonate with existing the...
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作者：Prat, Andrea
作者单位：Columbia University
摘要：This paper defines the power of a media organization as its ability to induce voters to make electoral decisions they would not make if reporting were unbiased. It derives a robust upper bound to media power over a range of assumptions about the beliefs and attention patterns of voters. The paper then presents estimates of the power index for the United States and shows how these can inform merger analysis and other policy debates.
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作者：Becker, Gary S.; Kominers, Scott Duke; Murphy, Kevin M.; Spenkuch, Jorg L.
作者单位：University of Chicago; Harvard University; Northwestern University
摘要：We study the link between market forces, cross-sectional inequality, and intergenerational mobility. Emphasizing complementarities in the production of human capital, we show that wealthy parents invest, on average, more in their offspring than poorer ones. As a result, economic status persists across generations even in a world with perfect capital markets and without differences in innate ability. In fact, under certain conditions, successive generations of the same family may cease to regre...
