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作者：Bayer, Patrick; Ross, Stephen L.; Topa, Giorgio
作者单位：Duke University; National Bureau of Economic Research; University of Connecticut; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：We use a novel research design to empirically detect the effect of social interactions among neighbors on labor market outcomes. Using Census data that characterize residential and employment locations down to the city block, we examine whether individuals residing in the same block are more likely to work together than those in nearby blocks. We find evidence of significant social interactions operating at the block level. The estimated referral effect is stronger when individuals are similar...
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作者：Vogel, Jonathan
作者单位：University of California System; University of California Los Angeles
摘要：I model endogenous horizontal and vertical product differentiation with arbitrarily many heterogeneous firms. Firms are asymmetric in that they differ in their marginal costs. I prove that under an equilibrium refinement, all economically relevant firm outcomes are uniquely determined across all strict subgame perfect Nash equilibria. There are two central results. First, a firm's price, market share, and profit are independent of its neighbors' marginal costs, conditional on the average margi...
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作者：Fang, Hanming; Keane, Michael P.; Silverman, Dan
作者单位：University of Technology Sydney; Arizona State University; Arizona State University-Tempe; University of Michigan System; University of Michigan
摘要：We provide evidence of advantageous selection in the Medigap insurance market and analyze its sources. Conditional on controls for Medigap prices, those with Medigap spend, on average, $4,000 less on medical care than those without. But if we condition on health, those with Medigap spend $2,000 more. The sources of this advantageous selection include income, education, longevity expectations, and financial planning horizons, as well as cognitive ability. Conditional on all these factors, those...
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作者：Goldstein, Markus; Udry, Christopher
作者单位：The World Bank; Yale University
摘要：We examine the impact of ambiguous and contested land rights on investment and productivity in agriculture in Akwapim, Ghana. We show that individuals who hold powerful positions in a local political hierarchy have more secure tenure rights and that as a consequence they invest more in land fertility and have substantially higher output. The intensity of investments on different plots cultivated by a given individual corresponds to that individual's security of tenure over those specific plots...
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作者：Correia, Isabel; Nicolini, Juan Pablo; Teles, Pedro
作者单位：Universidade Catolica Portuguesa; Banco de Portugal
摘要：In this article, we analyze the implications of price-setting restrictions for the conduct of cyclical fiscal and monetary policy. We consider standard monetary economies that differ in the price-setting restrictions imposed on the firms. We show that, independently of the degree or type of price stickiness, it is possible to implement the same efficient set of allocations and that each allocation in that set is implemented with policies that are also independent of the price stickiness. In th...
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作者：Rogerson, Richard
作者单位：Arizona State University; Arizona State University-Tempe
摘要：This paper examines hours worked in continental Europe and the United States from 1956 to 2003. The empirical work establishes two results. First, hours worked in Europe decline by almost 45 percent compared to the United States over this period. Second, this decline is almost entirely accounted for by the fact that Europe develops a much smaller market service sector than the United States. A simple model of time allocation is used to understand these patterns. I find that relative increases ...
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作者：Gennaioli, Nicola; Shleifer, Andrei
作者单位：Stockholm University; Harvard University
摘要：We present a model of lawmaking by appellate courts in which judges influenced by policy preferences can distinguish precedents at some cost. We find a cost and a benefit of diversity of judicial views. Policy-motivated judges distort the law away from efficiency, but diversity of judicial views also fosters legal evolution and increases the law's precision. We call our central finding the Cardozo theorem: even when judges are motivated by personal agendas, legal evolution is, on average, bene...
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作者：Ball, Laurence; Mankiw, N. Gregory
作者单位：Johns Hopkins University; Harvard University
摘要：This paper examines the optimal allocation of risk in an overlapping-generations economy. It compares the allocation of risk the economy reaches naturally to the allocation that would be reached if generations behind a Rawlsian veil of ignorance could share risk with one another through complete Arrow-Debreu contingent- claims markets. The paper then examines how the government might implement optimal intergenerational risk sharing with a social security system. One conclusion is that the syst...
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作者：Bayer, Patrick; Ferreira, Fernando; McMillan, Robert
作者单位：Duke University; National Bureau of Economic Research; University of Pennsylvania; University of Toronto
摘要：This paper develops a framework for estimating household preferences for school and neighborhood attributes in the presence of sorting. It embeds a boundary discontinuity design in a heterogeneous residential choice model, addressing the endogeneity of school and neighborhood characteristics. The model is estimated using restricted-access Census data from a large metropolitan area, yielding a number of new results. First, households are willing to pay less than 1 percent more in house prices -...
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作者：Chandra, Amitabh; Staiger, Douglas O.
作者单位：Harvard University; National Bureau of Economic Research; Dartmouth College
摘要：A large literature in medicine documents variation across areas in the use of surgical treatments that is unrelated to outcomes. Observers of this phenomenon have invoked flat of the curve medicine to explain it and have advocated for reductions in spending in high- use areas. In contrast, we develop a simple Roy model of patient treatment choice with productivity spillovers that can generate the empirical facts. Our model predicts that high- use areas will have higher returns to surgery, bett...
