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作者：Eizenberg, Alon
作者单位：Hebrew University of Jerusalem
摘要：This article investigates the welfare implications of the rapid innovation in central processing units (CPUs), and asks whether it results in inefficient elimination of basic personal computer (PC) products. I analyse a game in which firms make multiple discrete product choices, and tackle challenges such as partial identification and sample selection. Estimation results demonstrate that the demand for PCs is highly segmented, and that fixed costs consume a substantial portion of the per-unit ...
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作者：Masatlioglu, Yusufcan; Ok, Efe A.
作者单位：University of Michigan System; University of Michigan; New York University
摘要：We use the revealed preference method to derive a model of individual decision making when the endowment of an agent provides a reference point that may influence her choices. This model generalizes the classical rational choice model, which views choice as a consequence of utility maximization. Instead, our model sees choice as arising from psychologically constrained utility maximization, where the constraints are induced by one's initial endowment. In particular, this model produces status ...
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作者：Leslie, Phillip; Sorensen, Alan
作者单位：National Bureau of Economic Research; University of California System; University of California Los Angeles; University of Wisconsin System; University of Wisconsin Madison
摘要：We estimate an equilibrium model of ticket resale in which consumers' and brokers' decisions in the primary market reflect rational expectations about the resale market. Estimation is based on a unique dataset that merges transaction details from both the primary and secondary markets for tickets to major rock concerts. In our model, the presence of a resale market permits tickets to be traded from low-value to high-value consumers, but it also stimulates costly efforts by consumers and broker...
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作者：Gourio, Francois; Rudanko, Leena
作者单位：Boston University; Federal Reserve System - USA; Federal Reserve Bank - Chicago; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Philadelphia
摘要：Firms spend substantial resources on marketing and selling. Interpreting this as evidence of frictions in product markets, which require firms to spend resources on customer acquisition, this article develops a search theoretic model of firm dynamics in frictional product markets. Introducing search frictions generates long-term customer relationships, rendering the customer base a state variable for firms, which is sluggish to adjust. This affects: the level and volatility of firm investment,...
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作者：Guvenen, Fatih; Kuruscu, Burhanettin; Ozkan, Serdar
作者单位：University of Minnesota System; University of Minnesota Twin Cities; National Bureau of Economic Research; University of Toronto; Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：Wage inequality has been significantly higher in the U.S. than in continental European countries (CEU) since the 1970s. Moreover, this inequality gap has further widened during this period as the U.S. has experienced a large increase in wage inequality, whereas the CEU has seen only modest changes. This article studies the role of labour income tax policies for understanding these facts, focusing on male workers. We construct a life cycle model in which individuals decide each period whether t...
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作者：Faber, Benjamin
作者单位：University of California System; University of California Berkeley
摘要：Large-scale transport infrastructure investments connect both large metropolitan centres of production as well as small peripheral regions. Are the resulting trade cost reductions a force for the diffusion of industrial and total economic activity to peripheral regions, or do they reinforce the concentration of production in space? This article exploits China's National Trunk Highway System as a large-scale natural experiment to contribute to our understanding of this question. The network was...
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作者：Krishna, Pravin; Senses, Mine Zeynep
作者单位：Johns Hopkins University; National Bureau of Economic Research
摘要：This article studies empirically the links between international trade and labour income risk faced by manufacturing sector workers in the U.S. We use longitudinal data on workers to estimate time-varying individual income risk at the industry level. We then combine our estimates of persistent labour income risk with measures of exposure to international trade to analyse the relationship between trade and labour income risk. We also study risk estimates from various subsamples of workers, such...
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作者：Ackerberg, Daniel; Chen, Xiaohong; Hahn, Jinyong; Liao, Zhipeng
作者单位：University of Michigan System; University of Michigan; Yale University; University of California System; University of California Los Angeles
摘要：Many structural economics models are semiparametric ones in which the unknown nuisance functions are identified via non-parametric conditional moment restrictions with possibly non-nested or overlapping conditioning sets, and the finite dimensional parameters of interest are over-identified via unconditional moment restrictions involving the nuisance functions. In this article we characterize the semiparametric efficiency bound for this class of models. We show that semiparametric two-step opt...
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作者：Stantcheva, Stefanie
作者单位：Massachusetts Institute of Technology (MIT)
摘要：This article studies optimal linear and non-linear redistributive income taxation when there is adverse selection in the labour market. Unlike in standard taxation models, firms do not know workers' abilities, and competitively screen them through non-linear compensation contracts, unobservable to the government, in a Miyazaki-Wilson-Spence equilibrium. Adverse selection leads to different optimal tax formulas than in the standard Mirrlees (1971) model because of the use of work hours as a scr...
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作者：Altmann, Steffen; Falk, Armin; Grunewald, Andreas; Huffman, David
作者单位：IZA Institute Labor Economics; University of Bonn; IZA Institute Labor Economics; University of Oxford
摘要：This article provides evidence that involuntary unemployment, and the segmentation of labour markets into firms offering good and bad jobs, may both arise as a consequence of contractual incompleteness. We provide a simple model that illustrates how unemployment and market segmentation may jointly emerge as part of a market equilibrium in environments where work effort is not third-party verifiable. Using experimental labour markets that differ only in the verifiability of effort, we demonstra...
