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作者：Avataneo, Michelle; Norman, Thomas; Persico, Nicola
作者单位：Northwestern University; University of Oxford
摘要：Moral foundations theory is an influential empirical description of moral perception. According to this theory, individuals make moral judgments based on five distinct moral foundations: care, fairness, loyalty, authority, and sanctity. We provide a theory that explores the claimed evolutionary basis for these moral foundations. The theory conceptualizes these five moral foundations as specific modifications of fitness payoffs in a 2 x 2 game. We find that the five foundations are distinguisha...
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作者：Andrews, Isaiah; Barahona, Nano; Gentzkow, Matthew; Rambachan, Ashesh; Shapiro, Jesse M.
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of California System; University of California Berkeley; Stanford University; Harvard University
摘要：A researcher can use a tightly parameterized structural model to obtain internally consistent estimates of a wide range of economically interesting targets. We ask how reliable these estimates are when the researcher's model may be misspecified. We focus on the case of multivariate, potentially nonlinear models where the causal variable of interest is endogenous. Reliable estimates require that the researcher's model is flexible enough to describe the effects of the endogenous variable approxi...
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作者：Orchard, Jacob D.; Ramey, Valerie A.; Wieland, Johannes F.
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; Stanford University; University of California System; University of California San Diego; Federal Reserve System - USA; Federal Reserve Bank - San Francisco
摘要：We present evidence that the high estimated marginal propensities to consume (MPCs) from the leading household studies result in implausible macroeconomic counterfactuals. Using the 2008 tax rebate as a case study, we calibrate a standard macro model with the estimated micro MPCs to construct counterfactual macroeconomic consumption paths in the absence of a rebate. The counterfactual paths imply that consumption expenditures would have plummeted in spring and summer 2008 and mostly recovered ...
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作者：Bassetto, Marco; Miller, David S.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：This article posits an information channel as an explanation for sudden inflations. Households saving via nominal government bonds face a choice whether to acquire costly information about future government surpluses. They trade off the cost of acquiring information about the surpluses that back bond repayment against the benefit of a more informed saving decision. Through the information channel, small changes in the economic environment can trigger large responses in consumer behavior and pr...
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作者：Bouscasse, Paul; Nakamura, Emi; Steinsson, Jon
作者单位：Institut d'Etudes Politiques Paris (Sciences Po); University of California System; University of California Berkeley
摘要：We estimate productivity growth in England from 1250 to 1870. Real wages over this period were heavily influenced by plague-induced swings in the population. Our estimates account for these Malthusian dynamics. We find that productivity growth was zero before 1600. Productivity growth began in 1600-almost a century before the Glorious Revolution. Thus, the onset of productivity growth preceded the bourgeois institutional reforms of seventeenth-century England. We estimate productivity growth o...
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作者：Humphries, John Eric; Ouss, Aurelie; Stavreva, Kamelia; Stevenson, Megan T.; Van Dijk, Winnie
作者单位：Yale University; National Bureau of Economic Research; University of Pennsylvania; Columbia University; University of Virginia
摘要：Noncarceral conviction is a common outcome of criminal court cases: for every person incarcerated, there are approximately three who were recently convicted but not sentenced to prison or jail. We extend the binary-treatment judge IV framework to settings with multiple treatments and use it to study the consequences of noncarceral conviction. We outline assumptions under which widely used 2SLS regressions recover margin-specific treatment effects, relate these assumptions to models of judge de...
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作者：Chyn, Eric; Collinson, Robert; Sandler, Danielle H.
作者单位：University of Texas System; University of Texas Austin; National Bureau of Economic Research; University of Notre Dame
摘要：This article studies the effects of the largest residential racial desegregation initiative in U.S. history, the Gautreaux Assisted Housing Program. From the late 1970s to the 1990s, Gautreaux moved thousands of Black families into predominantly white neighborhoods to support racial and economic integration. We link historical program records to administrative data and use plausibly exogenous variation in neighborhood placements to study how desegregating moves affect children in the long run....
