International Economic Review

最新文章

• On the distributional consequences of child labor legislation AI翻译
  作者：Krueger, D; Donohue, JT
  作者单位：Goethe University Frankfurt; University of Pennsylvania; National Bureau of Economic Research
  摘要：This article studies the effects of child labor legislation on human capital accumulation and the distribution of wealth and welfare. We calibrate our model to U.S. data circa 1880 and find that the consequences of restricting child labor or providing tax-financed education depend on the main source of individual household income. Households with significant financial assets unambiguously lose from government intervention, whereas high-wage workers benefit most from a child labor ban, and low-...
• Intertemporal complementarity and optimalitya study of a two-dimensional dynamical system AI翻译
  作者：Mitra, T; Nishimura, K
  作者单位：Kyoto University; Cornell University
  摘要：We study the underlying structure of the two-dimensional dynamical system generated by a class of dynamic optimization models that allow for intertemporal complementarity between adjacent periods, but preserve the time-additively separable framework of Ramsey models. Specifically, we identify conditions under which the results of the traditional Ramsey-type theory are preserved even when the intertemporal independence assumption is relaxed. Local analysis of this theme has been presented by Sa...
• The market selects the wrong firms in the long run AI翻译
  作者：Ohkawa, T; Okamura, M; Nakanishi, N; Kiyono, K
  作者单位：Kobe University; Hiroshima University; Waseda University; Ritsumeikan University
  摘要：We consider the effects of free entry on the market structure and social welfare of an asymmetric Cournot oligopoly. Even if we allow for the existence of different types of firms initially, only one type (in almost all cases) can survive in the long run. Free entry leads an economy to a symmetric equilibrium, in which the excess entry theorem holds. Further, we consider the socially optimal policy for this economy. In cases of either (i) a concave demand (which implies strategic substitutabil...
• High-tech and high capability in a growth model AI翻译
  作者：Tong, J
  作者单位：University of Southampton
  摘要：A growth model is developed to substantiate the conventional wisdom that regards high-tech high-capability firms as an engine of sustained technological progress. High-tech industries are characterized by abounding technological opportunities, which promote endogenous high capability firms due to a competitive escalation mechanism. While high-tech high-capability firms capitalize on and discharge the existing innovation potentials, they also contribute to recharge (due to knowledge spillovers)...
• A note on chambers's long memory and aggregation in macroeconomic time series AI翻译
  作者：Souza, LR
  作者单位：Pontificia Universidade Catolica do Rio de Janeiro
  摘要：This note reviews some results on aggregating discrete-time long memory processes, providing a formula for the spectrum of the aggregates that considers the aliasing effect.
• Discussion of From private banking to central banking: ingredients of a welfare analysis AI翻译
  作者：Kocherlakota, NR
  作者单位：Stanford University; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; National Bureau of Economic Research
• A theory of money and marketplaces AI翻译
  作者：Matsui, A; Shimizu, T
  作者单位：Kansai University; University of Tokyo
  摘要：This article considers an infinitely repeated economy with divisible fiat money. The economy has many marketplaces that agents choose to visit. In each marketplace, agents are randomly matched to trade goods. There exist a variety of stationary equilibria. In some equilibrium, each good is traded at a single price, whereas in another, every good is traded at two different prices. There is a continuum of such equilibria, which differ from each other in price and welfare levels. However, it is s...
• Racial beliefs, location, and the causes of crime AI翻译
  作者：Verdier, T; Zenou, Y
  作者单位：University of Southampton
  摘要：This article provides a unified explanation for why blacks commit more crime, are located in poorer neighborhoods, and receive lower wages than whites. If everybody believes that blacks are more criminal than whites-even if there is no basis for this-then blacks are offered lower wages and, as a result, locate further away from jobs. Distant residence increases even more the black-white wage gap because of more tiredness and higher commuting costs. Blacks have thus a lower opportunity cost of ...
• What accounts for the decline in crime? AI翻译
  作者：Imrohoroglu, A; Merlo, A; Rupert, P
  作者单位：University of Pennsylvania; University of Southern California; Western University (University of Western Ontario); Federal Reserve System - USA; Federal Reserve Bank - Cleveland
  摘要：In this article we analyze recent trends in aggregate property crime rates in the United States. We propose a dynamic equilibrium model that guides our quantitative investigation of the major determinants of observed patterns of crime. Our main findings can be summarized as follows: First, the model is capable of reproducing the drop in crime between 1980 and 1996. Second, the most important factors that account for the observed decline in property crime are the higher apprehension probability...
• Free-riding and the provision of public goods in the family: A laboratory experiment AI翻译
  作者：Peters, HE; Ünür, AS; Clark, J; Schulze, WD
  作者单位：Cornell University; University of Canterbury
  摘要：We examine the provision of family public goods using experimental economics methods. With sufficient altruism and shared resource arrangements, families can provide the efficient level of family public goods. Becker's Rotten Kid Theorem asserts that transfers from altruistic parents will induce children to maximize family income even if children are not altruistic toward other family members. Consistent with altruism, parents and children contributed more to a public good when in groups with ...