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作者：Che, Xiaogang; Li, Tong; Lu, Jingfeng; Zheng, Xiaoyong
作者单位：Vanderbilt University; National University of Singapore; North Carolina State University
摘要：We examine a two-stage selling mechanism design problem, where the buyer makes her report and the seller endogenously decides his effort (hidden investment) to generate a possibly better outside offer. The optimal mechanism shows that the seller's effort depends on the reported value of the buyer; a higher value lowers the seller's incentive to invest in the outside offer. After the price of the outside offer is realized, if the buyer's virtual value is less than the price, the seller takes th...
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作者：Malpede, Maurizio
作者单位：University of Pavia; Centro Euro-Mediterraneo sui Cambiamenti Climatici (CMCC)
摘要：Although extractive industries have been associated with women's empowerment and lower infant mortality in Africa, this article provides evidence that the rapid increase in the demand for lithium-ion batteries reduced the education rates of children living in cobalt mining villages in sub-Saharan Africa. Children exposed to cobalt mining also exhibit slower cognitive and physical development than those living in noncobalt mining communities. The estimates are robust to spatial spillover effect...
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作者：Shi, Wei; Wang, Chunchao; Yu, Pei
作者单位：Jinan University; South China Normal University; Rice University
摘要：We propose a model for network-mediated interactions incorporating higher-order relationships such as triadic interactions. The marginal utility of an individual's action depends explicitly on endogenous actions of multiple units. Conditions ensuring a unique Nash equilibrium are derived using a variational inequality approach. We estimate the model parameters via maximum likelihood and derive their large sample properties. Applying our model to data from a primary school teamwork experiment i...
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作者：Bounie, David; Camara, Youssouf; Galbraith, John W.
作者单位：Centre National de la Recherche Scientifique (CNRS); IMT - Institut Mines-Telecom; Institut Polytechnique de Paris; Telecom Paris; McGill University; Universite de Montreal; McGill University
摘要：The shift from offline to online purchasing is reshaping trade patterns: a weaker effect of distance has been observed in digital transactions. This study analyzes these dynamics at an unprecedented scale and granularity, using interregional gravity models estimated from billions of geolocated French card transactions. Using a matched sample of merchants active in both online and offline channels, with unambiguous regional identification, we compare purchasing behavior across channels. We esti...
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作者：Ma, Xiao; Zhang, Yiran
作者单位：Peking University Shenzhen Graduate School (PKU Shenzhen); Peking University; Fudan University; Fudan University
摘要：Using comprehensive patent data, we document: (1) multinational affiliates and their foreign parent firms comprise a significant portion of patents filed in China; and (2) there are subsequent transfers and spillovers of these technologies to domestic firms. Guided by this evidence, we develop a model of multinational production featuring cross-country idea flows, transfers, and spillovers. Quantitatively, we find that without multinational production and knowledge spillovers, the idea stock o...
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作者：Sloof, Randolph; Beetsma, Roel; Steinweg, Alina
作者单位：University of Amsterdam; Tinbergen Institute; Copenhagen Business School; Tinbergen Institute
摘要：We study optimal debt ceilings in a political-agency model with uncertainty about both policymaker type (benevolent or selfish) and economic state (good or bad). Elections generate disciplining and selection effects that differ across pooling, hybrid, and separating equilibria induced by different ceilings. The optimal ceiling trades off distorted intertemporal allocation under benevolent policymakers against excessive debt under selfish ones. Increased fiscal transparency appears ineffective ...
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作者：Adachi, Yusuke
作者单位：Ritsumeikan University
摘要：This study proposes a novel methodology to measure the stringency of building height regulations. This measure gauges the difference in building heights with and without regulations. The primary challenge is to recover unobserved building heights in the absence of regulations. I develop a dynamic discrete choice model of building height decision-making by parcel owners and conduct a counterfactual experiment that removes height regulations. An application to residential buildings in central To...
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作者：Hall, George J.; Sargent, Thomas J.
作者单位：Brandeis University; New York University
摘要：After 2000, ratios of tax collections to GDP and government expenditures to GDP have departed from 19th and 20th century US patterns. Before 2000, wartime government expenditure/GDP surges were accompanied by permanent rises in expenditure/GDP and tax collection/GDP ratios. Part of the War on COVID expenditure/GDP surge has persisted, but so far tax collections have not risen relative to GDP. If that discrepancy persists, the consolidated federal government budget constraint portends permanent...
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作者：Yan, Wei; Yang, Hanmo; Yi, Junjian; Zhang, Chuanchuan
作者单位：Renmin University of China; Renmin University of China; Renmin University of China; Renmin University of China; Peking University; Peking University; Peking University; Zhejiang University
摘要：Hospital payment schemes designed to control expenditure could also influence the medical resource allocation. We study hospital responses to the introduction of a blended payment scheme-a diagnosis-based payment scheme with a predetermined global budget-and their distributional consequences. Exploiting a quasi-experimental reform in China, we find hospitals respond by upcoding, shifting admissions toward categories with higher upcoding potential, and increasing total admissions. Hospitals' he...
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作者：Jeon, Doh-Shin; Lefouili, Yassine; Madio, Leonardo
作者单位：Communaute d'universites et etablissements de Toulouse (Comue); Universite Toulouse 1 Capitole; Toulouse School of Economics; University of Padua
摘要：We study a platform's incentives to remove IP-infringing products and the effects of holding the platform liable for such infringements on innovation and welfare. We first show that platform liability can lead to either higher or lower commission rates, depending on how screening affects transaction volume. We then show that liability may spur or hinder innovation, depending on the intensity of cross-group network externalities, which determines participation elasticities on each side. If plat...
