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作者：Blanchard, Emily J.; Bown, Chad P.; Johnson, Robert C.
作者单位：Dartmouth College; Center for Economic & Policy Research (CEPR); Peterson Institute for International Economics; University of Notre Dame; National Bureau of Economic Research
摘要：How do global value chain (GVC) linkages modify countries' incentives to impose import protection? Are these linkages important determinants of trade policy in practice? We develop a new approach to modelling tariff setting with GVCs, in which optimal policy depends on the nationality of value-added content embedded in home and foreign final goods. Theory predicts that discretionary tariffs will be decreasing in the domestic content of foreign-produced final goods and the foreign content of do...
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作者：Grennan, Matthew; Myers, Kyle R.; Swanson, Ashley; Chatterji, Aaron
作者单位：Emory University; University of California System; University of California Berkeley; National Bureau of Economic Research; Harvard University; University of Wisconsin System; University of Wisconsin Madison; Duke University
摘要：We study how firms target and influence expert intermediaries. In our context, pharmaceutical manufacturers provide payments to physicians during promotional interactions. We develop an identification strategy based on plausibly exogenous variation in payments driven by differential exposure to spillovers from AMC CoI policies. Using a case study of an important class of cardiovascular drugs, we estimate heterogeneous effects of payments on prescribing, with firms targeting highly responsive p...
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作者：Murto, Pauli; Valimaki, Juuso
作者单位：Aalto University
摘要：Many auctions and procurement contests entail non-trivial bidding costs, which makes the bidders' participation decisions endogenous to the auction design. We analyse the effect of different auction rules on potential bidders' incentives to participate. We focus on first-price auctions with affiliated common values and a large pool of potential bidders. Our main interest is on auctions where the realized number of bidders is unknown at the bidding stage. In contrast to the standard case, both ...
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作者：Mui, Preston; Schoefer, Benjamin
作者单位：University of California System; University of California Berkeley; University of California System; University of California Berkeley
摘要：We measure desired labour supply at the extensive (employment) margin in two representative surveys of the U.S. and German populations. We elicit reservation raises: the percent wage change that renders a given individual indifferent between employment and nonemployment. It is equal to her reservation wage divided by her actual, or potential, wage. The reservation raise distribution is the nonparametric aggregate labour supply curve. Locally, the curve exhibits large short-run elasticities abo...
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作者：Herkenhoff, Kyle; Phillips, Gordon; Cohen-Cole, Ethan
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作者：Colonnelli, Emanuele; Gormsen, Niels Joachim; McQuade, Tim
作者单位：University of Chicago; University of California System; University of California Berkeley
摘要：We study how perceptions of corporate responsibility influence policy preferences and the effectiveness of corporate communication when agents have imperfect memory recall. Using a new large-scale survey of U.S. citizens on their support for corporate bailouts, we first establish that the public demands corporations to behave better within society, a sentiment we label big business discontent. Using random variation in the order of survey sections and in the exposure to animated videos, we the...
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作者：Figlio, David; Giuliano, Paola; Marchingiglio, Riccardo; Ozek, Umut; Sapienza, Paola
作者单位：University of Rochester; National Bureau of Economic Research; University of California System; University of California Los Angeles; Analysis Group Inc.; RAND Corporation; Northwestern University
摘要：We study the effect of exposure to immigrants on the educational outcomes of U.S.-born students, using a unique dataset combining population-level birth and school records from Florida. This research question is complicated by the substantial school selection of U.S.-born students, especially among White and comparatively affluent students, in response to the presence of immigrant students in the school. We propose a new identification strategy, comparing sibling outcomes with the inclusion of...
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作者：Ashlagi, Itai; Monachou, Faidra; Nikzad, Afshin
作者单位：Stanford University; Yale University; University of Southern California
摘要：We study non-monetary markets where objects that arrive over time are allocated to unit-demand agents with private types, such as in the allocation of public housing or deceased-donor organs. An agent's value for an object is supermodular in her type and the object quality, and her payoff is her value minus her waiting cost. The social planner's objective is a weighted sum of allocative efficiency (i.e. the sum of values) and welfare (i.e. the sum of payoffs). We identify optimal mechanisms in...
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作者：Huneeus, Federico; Rogerson, Richard
作者单位：Duke University; Central Bank of Chile; Princeton University
摘要：Industrialization experiences differ substantially across countries. We use a benchmark model of structural change to shed light on the sources of this heterogeneity and, in particular, the phenomenon of premature deindustrialization. Our analysis leads to three key findings. First, benchmark models of structural change robustly generate hump-shaped patterns for the evolution of the industrial sector. Second, heterogeneous patterns of catch-up in sectoral productivities across countries can ge...
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作者：Gete, Pedro; Zecchetto, Franco
作者单位：IE University
摘要：We show that mortgage recourse systems, by discouraging default, magnify the impact of nominal rigidities. They cause deeper and more persistent recessions. This mechanism can account for up to 31% of the recovery gap during the Great Recession between the U.S., mostly a non-recourse economy, and Spain, a recourse economy. General equilibrium effects explain most of the differences between mortgage systems. With recourse, highly indebted homeowners dramatically cut consumption in a crisis, and...
