Review of Economic Studies

最新文章

• Stability in Large Markets (Jan, rdae008, 2024) AI翻译
  作者：Jagadeesan, Ravi; Vocke, Karolina
• The Macroeconomics of Supply Chain Disruptions AI翻译
  作者：Acemoglu, Daron; Tahbaz-Salehi, Alireza
  作者单位：Massachusetts Institute of Technology (MIT); Northwestern University
  摘要：This paper develops a model to study the macroeconomic implications of supply chain disruptions with three key ingredients: (i) a firm-level network of customized supplier-customer links that generate relationship-specific productivity gains; (ii) bargaining over these relationship-specific surpluses; and (iii) an extensive margin of adjustment, whereby firms decide to form or sever relations with suppliers and customers. We establish equilibrium existence and uniqueness, provide characterizat...
• Marriage Market and Labour Market Sorting AI翻译
  作者：Calvo, Paula; Lindenlaub, Ilse; Reynoso, Ana
  作者单位：Arizona State University; Arizona State University-Tempe; Yale University; University of Michigan System; University of Michigan
  摘要：We develop a new equilibrium model in which households' labour supply choices form the link between sorting on the marriage market and sorting on the labour market. We first show that in theory, the nature of home production-whether partners' hours are complements or substitutes-shapes equilibrium labour supply as well as marriage and labour market sorting. We then estimate our model using German data to empirically assess the nature of home production, and find that spouses' home hours are co...
• Equilibrium Analysis in Behavioural One-Sector Growth Models AI翻译
  作者：Acemoglu, Daron; Jensen, Martin Kaae
  作者单位：Massachusetts Institute of Technology (MIT); University of Nottingham
  摘要：Rich behavioural biases, mistakes, and limits on rational decision-making are often thought to make equilibrium analysis much more intractable. We establish that this is not the case in the context of one-sector growth models such as Ramsey-Cass-Koopmans or Bewley-Aiyagari models. We break down the response of the economy to a change in the environment or policy into two parts: the direct response at the given (pre-tax) prices, and the equilibrium response which plays out as prices change. Our...
• Inference for Ranks with Applications to Mobility across Neighbourhoods and Academic Achievement across Countries AI翻译
  作者：Mogstad, Magne; Romano, Joseph P.; Shaikh, Azeem M.; Wilhelm, Daniel
  作者单位：University of Chicago; Stanford University; University of Chicago; University of London; University College London
  摘要：It is often desired to rank different populations according to the value of some feature of each population. For example, it may be desired to rank neighbourhoods according to some measure of intergenerational mobility or countries according to some measure of academic achievement. These rankings are invariably computed using estimates rather than the true values of these features. As a result, there may be considerable uncertainty concerning the rank of each population. In this paper, we cons...
• The Long-Run Labour Market Effects of the Canada-US Free Trade Agreement AI翻译
  作者：Kovak, Brian K.; Morrow, Peter M.
  作者单位：National Bureau of Economic Research; Carnegie Mellon University; IZA Institute Labor Economics; University of Toronto
  摘要：This article assesses the long-run effects of the 1989 Canada-U.S. Free Trade Agreement on the Canadian labour market using matched longitudinal administrative data for the years 1984-2004. We simultaneously examine the labour market effects of increased export expansion and import competition, generally finding adverse effects of Canadian tariff cuts and favourable effects of U.S. cuts, though both effects are small. Workers initially employed in industries that experienced larger Canadian ta...
• Information Spillovers and Sovereign Debt: Theory Meets the Eurozone Crisis AI翻译
  作者：Cole, Harold L.; Neuhann, Daniel; Ordonez, Guillermo
  作者单位：University of Pennsylvania; University of Texas System; University of Texas Austin
  摘要：We develop a theory of information spillovers in sovereign bond markets in which investors can learn about default risk before trading in primary and secondary markets. If primary markets are structured as multi-unit discriminatory-price auctions, an endogenous winner's curse leads to strategic complementarities in information acquisition. Shocks to default risk in one country may trigger crisis episodes with widespread information acquisition, sharp increases in the level and volatility of yi...
• Outside Options in the Labour Market AI翻译
  作者：Caldwell, Sydnee; Danieli, Oren
  作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; Tel Aviv University
  摘要：This paper develops a method to estimate workers' outside employment opportunities. We outline a matching model with two-sided heterogeneity, from which we derive a sufficient statistic, the outside options index (OOI), for the effect of outside options on earnings, holding worker productivity constant. The OOI uses the cross-sectional concentration of similar workers across job types to quantify workers' outside options as a function of workers' commuting costs, preferences, and skills. Using...
• Unemployment Insurance in Macroeconomic Stabilization (vol 90, pg 2439, 2023) AI翻译
  作者：[Anonymous]
• The Cost of Wage Rigidity AI翻译
  作者：Faia, Ester; Pezone, Vincenzo
  作者单位：Goethe University Frankfurt; Tilburg University
  摘要：Private efficiency of wage rigidity has taken centre stage in economics. Measuring its effects has proven elusive for lack of actual wage data. Using a unique confidential labour contract-level dataset matched with firm-level high-frequency asset prices, we find robust evidence that firms' stock prices and employment fluctuate more in response to monetary policy announcements, the higher the degree of wage rigidity. Hand-collected information on the periods across renegotiations of collective ...