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作者：Tintelnot, Felix
作者单位：University of Chicago; National Bureau of Economic Research
摘要：Most international commerce is carried out by multinational firms, which use their foreign affiliates both to serve the market of the host country and to export to other markets outside the host country. In this article, I examine the determinants of multinational firms' location and production decisions and the welfare implications of multinational production. The few existing quantitative general equilibrium models that incorporate multinational firms achieve tractability by assuming away ex...
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作者：Brot-Goldberg, Zarek C.; Chandra, Amitabh; Handel, Benjamin R.; Kolstad, Jonathan T.
作者单位：University of California System; University of California Berkeley; Harvard University; National Bureau of Economic Research
摘要：Measuring consumer responsiveness to medical care prices is a central issue in health economics and a key ingredient in the optimal design and regulation of health insurance markets. We leverage a natural experiment at a large self-insured firm that required all of its employees to switch from an insurance plan that provided free health care to a nonlinear, high-deductible plan. The switch caused a spending reduction between 11.8% and 13.8% of total firm-wide health spending. We decompose this...
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作者：Benmelech, Efraim; Meisenzahl, Ralf R.; Ramcharan, Rodney
作者单位：Northwestern University; National Bureau of Economic Research; University of Southern California
摘要：Illiquidity in short-term credit markets during the financial crisis might have severely curtailed the supply of nonbank consumer credit. Using a new data set linking every car sold in the United States to the credit supplier involved in each transaction, we find that the collapse of the asset-backed commercial paper market reduced the financing capacity of such nonbank lenders as captive leasing companies in the automobile industry. As a result, car sales in counties that traditionally depend...
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作者：Andrews, Isaiah; Gentzkow, Matthew; Shapiro, Jesse M.
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Stanford University; Brown University
摘要：We propose a local measure of the relationship between parameter estimates and the moments of the data they depend on. Our measure can be computed at negligible cost even for complex structural models. We argue that reporting this measure can increase the transparency of structural estimates, making it easier for readers to predict the way violations of identifying assumptions would affect the results. When the key assumptions are orthogonality between error terms and excluded instruments, we ...
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作者：Levine, Ross; Rubinstein, Yona
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; University of London; London School Economics & Political Science
摘要：We disaggregate the self-employed into incorporated and unincorporated to distinguish between entrepreneurs and other business owners. We show that the incorporated self-employed and their businesses engage in activities that demand comparatively strong nonroutine cognitive abilities, while the unincorporated and their firms perform tasks demanding relatively strong manual skills. People who become incorporated business owners tend to be more educated and-as teenagers-score higher on learning ...
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作者：Mian, Atif; Sufi, Amir; Verner, Emil
作者单位：Princeton University; University of Chicago
摘要：An increase in the household debt to GDP ratio predicts lower GDP growth and higher unemployment in the medium run for an unbalanced panel of 30 countries from 1960 to 2012. Low mortgage spreads are associated with an increase in the household debt to GDP ratio and a decline in subsequent GDP growth, highlighting the importance of credit supply shocks. Economic forecasters systematically over-predict GDP growth at the end of household debt booms, suggesting an important role of flawed expectat...
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作者：Polborn, Mattias K.; Snyder, James M., Jr.
作者单位：Vanderbilt University; Vanderbilt University; Harvard University; National Bureau of Economic Research
摘要：We develop a theory of legislative competition in which voters care about local candidate valence and national party positions that are determined by the parties' median legislators. As long as election outcomes are sufficiently predictable, the only stable equilibria exhibit policy divergence between the parties. If the degree of uncertainty about election outcomes decreases, and if voters place less weight on local candidates' valence, polarization between the parties increases. Furthermore,...
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作者：Angrist, Joshua D.; Hull, Peter D.; Pathak, Parag A.; Walters, Christopher R.
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作者：Heidhues, Paul; Koszegi, Botond
作者单位：Heinrich Heine University Dusseldorf; Central European University
摘要：We initiate the study of naivete-based discrimination, the practice of conditioning offers on external information about consumers' naivete. Knowing that a consumer is naive increases a monopolistic or competitive firm's willingness to generate inefficiency to exploit the consumer's mistakes, so naivete-based discrimination is not Pareto-improving, can be Pareto-damaging, and often lowers total welfare when classical preference-based discrimination does not. Moreover, the effect on total welfa...
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作者：Bandiera, Oriana; Burgess, Robin; Das, Narayan; Gulesci, Selim; Rasul, Imran; Sulaiman, Munshi
作者单位：University of London; London School Economics & Political Science; University of London; London School Economics & Political Science; Bocconi University; Bocconi University; University of London; University College London
摘要：We study how women's choices over labor activities in village economies correlate with poverty and whether enabling the poorest women to take on the activities of their richer counterparts can set them on a sustainable trajectory out of poverty. To do this we conduct a large-scale randomized control trial, covering over 21,000 households in 1,309 villages surveyed four times over a seven-year period, to evaluate a nationwide program in Bangladesh that transfers livestock assets and skills to t...
