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作者：Dolado, Juan J.; Jansen, Marcel; Jimeno, Juan F.
作者单位：Universidad Carlos III de Madrid; IZA Institute Labor Economics
摘要：This article examines the effects of transitory skill mismatch in a matching model with heterogeneous jobs and workers. In our model, some highly-educated workers may accept unskilled jobs for which they are over-qualified but are allowed to engage in on-the-job search in pursuit of a better job. We show that this feature has relevant implications for the set of potential equilibria, the unemployment rates of the different types of workers, the degree of wage inequality, and the response of th...
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作者：Sutter, Matthias
作者单位：University of Innsbruck; University of Gothenburg
摘要：Informational asymmetries abound in economic decision making and often provide an incentive for deception through telling a lie or misrepresenting information. In this article I use a cheap-talk sender-receiver experiment to show that telling the truth should be classified as deception too if the sender chooses the true message with the expectation that the receiver will not follow the sender's (true) message. The experimental data reveal a large degree of 'sophisticated' deception through tel...
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作者：Auriol, Emmanuelle; Picard, Pierre M.
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; University of Luxembourg; Universite Catholique Louvain
摘要：The article studies the impact of the government budget constraint on the regulation of natural monopolies in adverse selection contexts. The government maximises total surplus but incurs some cost of public funds laLaffont and Tirole (1993). Government outsourcing is proposed as an alternative to regulation in which firms freely enter the market and choose their prices and output levels. However the government can contract ex post with the private firms. This ex post contracting set-up allows...
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作者：Flandreau, Marc; Jobst, Clemens
摘要：Using a new database for the late nineteenth century, when the pound sterling was the world's leading international currency, this article provides evidence on the empirical determinants of international currency status. We report evidence in favour of the search-theoretic models to international currencies. Using a microeconomic model of currency choice, we provide empirical support to strategic externalities. We find strong confirmation of the existence of persistence, but reject the view th...
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作者：Gregory-Smith, Ian; Thompson, Steve; Wright, Peter W.
作者单位：University of Nottingham
摘要：We apply duration analysis to model the tenure and mode of exit of CEOs from FTSE 350 companies from 1996-2005, a decade in which corporate governance reforms have sought to increase the accountability of the CEO to shareholders and their representatives on the board. We find a greater likelihood of dismissal in the latter part of the period. However, we also find that the likelihood of forced departure sharply decreases from the fifth year of a CEO's tenure. We find evidence that this is beca...
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作者：Disney, Richard; Emmerson, Carl; Tetlow, Gemma
作者单位：University of Nottingham; University of London; University College London
摘要：We measure accruals in defined benefit (DB) pension plans for public and private sector workers in Britain, using typical differences in scheme rules and sector-specific lifetime age-wage profiles by sex and educational group. We show not just that coverage by DB pension plans is greater in the public sector but that median pension accruals as a percentage of salary are more than 6% higher among DB-covered public sector workers than covered private sector workers. This is largely driven by ear...
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作者：Ellman, Matthew; Germano, Fabrizio
作者单位：Pompeu Fabra University; Consejo Superior de Investigaciones Cientificas (CSIC); CSIC - Institut d'Analisi Economica (IAE)
摘要：We model the market for news as a two-sided market where newspapers sell news to readers who value accuracy and sell space to advertisers who value advert-receptive readers. In this setting, monopolistic newspapers under-report or bias news that sufficiently reduces advertiser profits. Paradoxically, increasing the size of advertising eventually leads competing newspapers to reduce advertiser bias. Nonetheless, advertisers can counter this effect if able to commit to news-sensitive cutoff stra...
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作者：Branch, William A.; Carlson, John; Evans, George W.; McGough, Bruce
作者单位：University of California System; University of California Irvine; Federal Reserve System - USA; Federal Reserve Bank - Cleveland; University of Oregon
摘要：This article considers the interaction of optimal monetary policy and agents' beliefs. We assume that agents choose their information acquisition rate by minimising a loss function that depends on expected forecast errors and information costs. Endogenous inattention is a Nash equilibrium in the information processing rate. Although a decline of policy activism directly increases output volatility, it indirectly anchors expectations, which decreases output volatility. If the indirect effect do...
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作者：Buenstorf, Guido; Klepper, Steven
作者单位：Max Planck Society; Carnegie Mellon University
摘要：We use new data on the location and background of entrants into the US tyre industry to analyse why the industry became so regionally concentrated around Akron, Ohio, a small city with no compelling advantages for tyre production. We analyse where the Ohio entrants originated and conduct various analyses of how proximity to other tyre firms affected the longevity of tyre producers. We also examine how the heritage of the Ohio entrants influenced their origin and longevity. Our findings suggest...
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作者：Hatton, Timothy J.
作者单位：University of Essex; Australian National University
摘要：In the last 20 years, developed countries have struggled with a rising tide of asylum seekers, a trend that has now reversed. This article examines what happened and why. It surveys the trends in asylum seeking and the literature that this has generated. It provides new regression estimates of the determinants of asylum applications up to the present. The key findings are that violence and terror can account for much of the variation and that, while tougher policies did have a deterrent effect...
