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作者：Cajal-Grossi, Julia; Macchiavello, Rocco; Noguera, Guillermo
作者单位：University of London; London School Economics & Political Science; Yale University
摘要：We study differences in markups earned by Bangladeshi garment exporters across buyers with different sourcing strategies and make three contributions. First, we distinguish buyers with a relational versus a spot sourcing strategy and show that a buyer's sourcing strategy is correlated across products and origins. Buyer fixed effects explain most of the variation in sourcing strategies, suggesting that these depend on organizational capabilities. Second, we use novel data that match quantities ...
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作者：Le Pennec, Caroline; Pons, Vincent
作者单位：Harvard University
摘要：We use two-round survey data from 62 elections in 10 countries since 1952 to study the formation of vote choice, beliefs, and policy preferences and assess how televised debates contribute to this process. Our data include 253,000 observations. We compare the consistency between vote intention and vote choice of respondents surveyed at different points before, and then again after, the election, and show that 17% to 29% of voters make up their mind during the final two months of campaigns. Cha...
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作者：Bursztyn, Leonardo; Egorov, Georgy; Haaland, Ingar; Rao, Aakaash; Roth, Christopher
作者单位：National Bureau of Economic Research; University of Chicago; National Bureau of Economic Research; Northwestern University; Norwegian School of Economics (NHH); Harvard University; University of Cologne; Max Planck Society; Centre for Economic Policy Research - UK
摘要：Dissent plays an important role in any society, but dissenters are often silenced through social sanctions. Beyond their persuasive effects, rationales providing arguments supporting dissenters' causes can increase the public expression of dissent by providing a social cover for voicing otherwise stigmatized positions. Motivated by a simple theoretical framework, we experimentally show that liberals are more willing to post a tweet opposing the movement to defund the police, are seen as less p...
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作者：Adda, Jerome; Ottaviani, Marco
作者单位：Bocconi University
摘要：The article develops a model of nonmarket allocation of resources such as the awarding of grants to meritorious projects, honors to outstanding students, or journal slots to quality publications. On the supply side, the available budget of grants is awarded to applicants who are evaluated most favorably according to the noisy information available to reviewers. On the demand side, stronger candidates are more likely to obtain grants and thus self-select into applying, given that applications a...
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作者：Brancaccio, Giulia; Kalouptsidi, Myrto; Papageorgiou, Theodore; Rosaia, Nicola
作者单位：New York University; Harvard University; Boston College; Columbia University
摘要：We explore efficiency and optimal policy in decentralized transport markets, such as taxis, trucks, and bulk shipping. We show that in these markets, search frictions distort the transportation network and the dynamic allocation of carriers over space. We derive explicit and intuitive conditions for efficiency and show how they translate into efficient pricing rules, or optimal taxes and subsidies for the planner who cannot set prices directly. The results imply that destination-based pricing ...
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作者：Greenwood, Robin; Hanson, Samuel; Stein, Jeremy C.; Sunderam, Adi
作者单位：Harvard University
摘要：We develop a model in which specialized bond investors must absorb shocks to the supply and demand for long-term bonds in two currencies. Since long-term bonds and foreign exchange are both exposed to unexpected movements in short-term interest rates, a shift in the supply of long-term bonds in one currency influences the foreign exchange rate between the two currencies, as well as bond term premia in both currencies. Our model matches several important empirical patterns, including the comove...
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作者：Bianchi, Francesco; Faccini, Renato; Melosi, Leonardo
作者单位：Johns Hopkins University; National Bureau of Economic Research; Centre for Economic Policy Research - UK; Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：We develop a new class of general-equilibrium models with partially unfunded debt to propose a fiscal theory of persistent inflation. In response to business cycle shocks, the monetary authority controls inflation and the fiscal authority stabilizes debt. However, the central bank accommodates unfunded fiscal shocks, causing persistent movements in inflation, output, and real interest rates. In an estimated quantitative model, fiscal inflation accounts for the bulk of inflation dynamics. In th...
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作者：Guvenen, Fatih; Kambourov, Gueorgui; Kuruscu, Burhan; Ocampo, Sergio; Chen, Daphne
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; National Bureau of Economic Research; University of Toronto; Western University (University of Western Ontario)
摘要：How does wealth taxation differ from capital income taxation? When the return on investment is equal across individuals, a well-known result is that the two tax systems are equivalent. Motivated by recent empirical evidence documenting persistent return heterogeneity, we revisit this question. With heterogeneity, the two tax systems typically have opposite implications for efficiency and inequality. Under capital income taxation, entrepreneurs who are more productive and therefore generate mor...
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作者：Beraja, Martin; Kao, Andrew; Yang, David Y.; Yuchtman, Noam
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Harvard University; Canadian Institute for Advanced Research (CIFAR); University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; Leibniz Association; Ifo Institut
摘要：Recent scholarship has suggested that artificial intelligence (AI) technology and autocratic regimes may be mutually reinforcing. We test for a mutually reinforcing relationship in the context of facial-recognition AI in China. To do so, we gather comprehensive data on AI firms and government procurement contracts, as well as on social unrest across China since the early 2010s. We first show that autocrats benefit from AI: local unrest leads to greater government procurement of facial-recognit...
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作者：Korting, Christina; Lieberman, Carl; Matsudaira, Jordan; Pei, Zhuan; Shen, Yi
作者单位：University of Delaware; Columbia University; Cornell University; IZA Institute Labor Economics
摘要：Despite the widespread use of graphs in empirical research, little is known about readers' ability to process the statistical information they are meant to convey (``visual inference''). We study visual inference in the context of regression discontinuity (RD) designs by measuring how accurately readers identify discontinuities in graphs produced from data-generating processes calibrated on 11 published papers from leading economics journals. First, we assess the effects of different graphical...
