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作者：Fanelli, S.; Straub, Ludwig
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作者：Ager, Philipp; Bursztyn, Leonardo; Leucht, Lukas; Voth, Hans-Joachim
作者单位：University of Mannheim; Centre for Economic Policy Research - UK; University of Chicago; National Bureau of Economic Research; University of California System; University of California Berkeley; University of Zurich
摘要：Using newly collected data on death rates and aerial victories of more than 5,000 German fighter pilots during World War II, we examine the effects of public recognition on performance and risk-taking. When a particular pilot is honoured publicly, both the victory rate and the death rate of his former peers increase. Fellow pilots react more if they come from the same region of Germany, or if they worked closely with him. Our results suggest that personal rivalry can be a prime motivating forc...
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作者：Chahrour, Ryan; Valchev, Rosen
作者单位：Boston College
摘要：We propose a model in which the emergence of a single dominant currency is driven by the need to finance international trade. The model generates multiple stable steady states, each characterized by a different dominant asset, consistent with the historical durability of real-world currency regimes. The persistence of regimes is caused by a positive interaction between the returns to saving in an asset and the use of that asset for financing trade. A calibrated version of the model shows that ...
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作者：Verdier, Valentin; Reeling, Carson
作者单位：University of North Carolina; University of North Carolina Chapel Hill; Purdue University System; Purdue University
摘要：Allocating resources without monetary payments is expected to yield inefficient allocations. Theory suggests that introducing rationing when resources are allocated repeatedly over time can mitigate this issue, while the magnitude of the resulting efficiency gains is an empirical question in most settings. We study a dynamic assignment mechanism used by the Michigan Department of Natural Resources to allocate bear hunting licenses and find that it yields a more efficient allocation than static...
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作者：Boar, Corina; Gorea, Denis; Midrigan, Virgiliu
作者单位：New York University; National Bureau of Economic Research
摘要：We study the severity of liquidity constraints in the U.S. housing market using a life-cycle model with uninsurable idiosyncratic risks in which houses are illiquid, but agents can extract home equity by refinancing their mortgages. The model implies that four-fifths of homeowners are liquidity constrained and willing to pay an average of 13 cents to extract an additional dollar of liquidity from their home. Most homeowners value liquidity for precautionary reasons, anticipating the possibilit...
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作者：Celebi, Oguzhan; Flynn, Joel P.
作者单位：Massachusetts Institute of Technology (MIT)
摘要：In many centralized matching markets, agents' property rights over objects are derived from a coarse transformation of an underlying score. Prominent examples include the distance-based system employed by Boston Public Schools, where students who lived within a certain radius of each school were prioritized over all others, and the income-based system used in New York public housing allocation, where eligibility is determined by a sharp income cutoff. Motivated by this, we study how to optimal...
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作者：Colonnelli, Emanuele; Prem, Mounu
作者单位：University of Chicago; Universidad del Rosario
摘要：We estimate the causal real economic effects of a randomized anti-corruption crackdown on local governments in Brazil using rich micro-data on corruption and firms. After anti-corruption audits, municipalities experience an increase in the number of firms concentrated in sectors most dependent on government relationships and public procurement. Through the estimation of geographic spillovers and additional tests, we show that audits operate via both a direct detection effect as well as through...
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作者：Blundell, Richard; Green, David A.; Jin, Wenchao
作者单位：University of London; University College London; University of London; London School Economics & Political Science; University of British Columbia
摘要：The proportion of U.K. people with university degrees tripled between 1993 and 2015. However, over the same period the time trend in the college wage premium has been extraordinarily flat. We show that these patterns cannot be explained by composition changes. Instead, we present a model in which firms choose between centralized and decentralized organizational forms and demonstrate that it can explain the main patterns. We also show the model has implications that differentiate it from both t...
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作者：Altmann, Steffen; Grunewald, Andreas; Radbruch, Jonas
作者单位：IZA Institute Labor Economics; University of Copenhagen; Frankfurt School Finance & Management
摘要：This article investigates how incentives and behavioural policy interventions affect individuals' allocation of scarce cognitive resources. Based on experimental evidence, we demonstrate that incentives systematically influence individuals' allocation of cognitive resources, and their propensity to actively engage with a decision or to stay passive. Policies that steer individuals' attention to a specific decision lead to more active decision-making and better choices in the targeted choice do...
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作者：Ko, Ami
作者单位：Georgetown University
摘要：Informal care provided by adult children substitutes for formal long-term care services. However, information about children is not used in pricing long-term care insurance which pays only for formal care. I start by providing descriptive evidence that private information about children's informal care likelihood results in adverse selection: the market attracts a disproportionate number of individuals who face higher formal care utilization risk due to a lower probability of receiving care fr...
