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作者：Olsson, Jonna
作者单位：Norwegian School of Economics (NHH)
摘要：Women's increased involvement in the economy has been an important change in labor markets during the past century. I show that a macroeconomic model taking into account gender and household composition in an otherwise parsimonious off-the-shelf setting captures key historical labor supply facts regarding trend and volatility across subgroups. Evaluating the economy's response to aggregate shocks at different points in time shows that the underlying trend growth in married women's employment c...
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作者：Cormun, Vito; De Leo, Pierre
作者单位：Santa Clara University; University System of Maryland; University of Maryland College Park
摘要：We separately identify domestic and external sources of exchange rate fluctuations in a large sample of small open economies (SOEs). We find that external shocks lead to large and predictable deviations from uncovered interest parity (UIP), while domestic shocks do not. Additionally, external shocks are linked to fluctuations in global risk aversion and US macroeconomic aggregates. We present an SOE model that rationalizes these facts. In the model, global risk aversion shocks drive exchange r...
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作者：Hagedorn, Marcus; Manovskii, Iourii; Mitman, Kurt
作者单位：University of Oslo; University of Pennsylvania; Stockholm University
摘要：We measure the aggregate effect of unemployment benefit duration on employment and the labor force. We exploit the variation induced by Congress' failure in December 2013 to reauthorize the unprecedented benefit extensions introduced during the Great Recession. Federal benefit extensions that ranged from 0 to 47 weeks across US states were abruptly cut to zero. In sharp contrast to their typical dynamics, labor force and employment growth accelerated sharply in states with larger cuts in benef...
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作者：Kapfhammer, Felix
作者单位：BI Norwegian Business School
摘要：This paper studies the sectoral and macroeconomic consequences of carbon taxes in four Nordic countries using a novel monthly measure of effective carbon tax rates. The suggested measure accounts for the time-varying emission coverage of taxes that are both explicitly and implicitly levied on greenhouse gas-emitting goods, thereby solving several issues of existing carbon tax measures currently used by the literature. Employing the new measure in a local projection setting, I find that carbon ...
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作者：Smulders, Sjak; Zhou, Sophie
作者单位：Tilburg University; University of Reading
摘要：Technological lock-in has been a standard explanation for the slow take-off of clean innovation, but is hard to reconcile with forward-looking investors who anticipate the eventual switch to clean technologies. We provide an alternative explanation: strategic investment complementarities shape innovation and self-fulfilling prophecies can lead to delayed low-carbon transition. We analyze a standard directed technical change model with clean and dirty inputs. Under good input substitutability, ...
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作者：Gomes, Pedro; Kuehn, Zoe
作者单位：Autonomous University of Madrid
摘要：The public sector hires disproportionally more women than men. Using microdata, we document gender differences in employment, transition probabilities, hours, and wages in the public and private sector. We calibrate a search and matching model where men and women decide whether to participate and whether to enter public or private sector labor markets. We quantify how much of the selection of women into the public sector is driven by (i) lower gender wage gaps, (ii) fewer hours, (iii) greater ...
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作者：De Soyres, Francois; Gaillard, Alexandre
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; Brown University
摘要：Traditional international real business cycle (IRBC) models produce a weak relationship between trade and cross-country real GDP (RGDP) correlations (corrRGDP), contradicting empirical findings. We reassess this quantitative puzzle in a many-country model featuring (i) global value chains, (ii) monopolistic competition, (iii fluctuations in the number of varieties, and (iv) RGDP measurement using double deflation. In this framework, fluctuations in imported inputs cause profit and efficiency v...
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作者：Albanesi, Stefania
作者单位：National Bureau of Economic Research; University of Miami; Center for Economic & Policy Research (CEPR)
摘要：Women's labor force participation in the United States rose rapidly until the mid-1990s when it flattened out. I examine the impact of this change in trend on aggregate business cycles with a quantitative model that incorporates gender differences. I show that the rise in women's participation played a substantial role in the Great Moderation and not allowing for gender differences leads to incorrect inference on its causes. The subsequent slowdown in women's participation played a substantial...
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作者：Chi, Chun-che; Schmitt-grohe, Stephanie; Uribe, Martin
作者单位：Academia Sinica - Taiwan; National Bureau of Economic Research; Columbia University; Centre for Economic Policy Research - UK; Columbia University; National Bureau of Economic Research
摘要：A central prediction of open economy models with a pecuniary externality due to a collateral constraint is that the unregulated economy overborrows relative to what occurs under optimal policy. A maintained assumption in this literature is that households borrow directly from foreign lenders. This paper shows that if foreign lending is intermediated by domestic banks and the government can pay interest on bank reserves and impose capital controls, the unregulated economy underborrows. The opti...
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作者：Alon, Titan; Capelle, Damien; Matsuda, Kazushige
作者单位：University of California System; University of California San Diego; Keio University
摘要：This paper develops a framework in which university research depends endogenously on competition for tuition and talented students in the market for higher education. When students are highly stratified across colleges, or when tuition rises sharply with school rank, universities spend on R&D even if the direct contribution of research to teaching is small. The model is consistent with causal evidence and matches new features of the microdata. It explains why universities internally fund resea...
