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作者：Chen, Kaiji
作者单位：Emory University
摘要：This discussion evaluates Fang, Wang, and Wu's study on collateral-based monetary policy in China, which exploits the 2018 expansion of eligible collateral under the Medium-Term Lending Facility. The paper develops a theoretical model-linking collateral eligibility to bond pricing, employs a novel triple-difference strategy using dual-listed bonds, and finds that policy reduces bond spreads in both secondary and primary markets. The discussion highlights the paper's methodological contribution...
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作者：Levine, David K.; Mattozzi, Andrea; Modica, Salvatore
作者单位：University of London; Royal Holloway University London; University of Bologna; University of Palermo; Washington University (WUSTL)
摘要：We present a model showing that when the demand for labor services is inelastic and individual behavior is imperfectly monitored, a firm's employees may prefer to protect its shirkers and conceal information about peers' performance from the firm.
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作者：Cao, Huoqing; Chen, Chaoran; Xi, Xican
作者单位：Fudan University; York University - Canada; Shanghai Institute of International Finance & Economics
摘要：The gender gap in non-agricultural employment in developing countries is concentrated among rural married workers. Within-family specialization is central: Married women spend more time on home production, work fewer market hours, and are less likely to incur fixed costs of entering non-agriculture. We develop a general equilibrium Roy model with joint household decisions, sector-neutral gender labor wedges, and entry barriers. Calibrated to China in 2010, the model reproduces the observed gen...
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作者：Arnold, Andrew; Sieg, Holger
作者单位：University of Pennsylvania; National Bureau of Economic Research
摘要：We examine the decentralization of liquor policies in Texas during the Post-Prohibition era using newly collected historical legislative roll call data. By combining these data with local referendum vote shares, we analyze both legislators' and constituents' preferences on liquor policy. We develop a probabilistic voting model incorporating spillovers and peer effects. Results reveal substantial heterogeneity in preferences among voters, reflecting differing attitudes toward alcohol regulation...
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作者：Anstreicher, Garrett; Venator, Joanna
作者单位：University of Nebraska System; University of Nebraska Lincoln; Boston College
摘要：We document how childcare costs and the location of extended family influence the labor supply and mobility of US women. Women return to their home locations immediately before fertility events, suggesting that informal childcare needs may motivate home migration. Women who live near their parents have lower child earnings penalties. We then build a model of labor supply and migration to assess the impacts of childcare subsidies. Childcare subsidies increase earnings and mobility among US wome...
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作者：Hernandez-chanto, Allan
作者单位：University of Queensland
摘要：Many countries around the world use centralized admission systems to assign thousands of students to university programs every year. However, the impact of admission policy changes on students' welfare remains largely unknown. To address this, we propose a novel methodology that recovers students' true preferences in a mechanism where students hold private information and face constraints on the number of options they can submit as preferences. This methodology involves two steps: first, the n...
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作者：Dato, Simon; Grunewald, Andreas; Klumper, Andreas
作者单位：European Business School (EBS) University; Frankfurt School Finance & Management; University of Bonn
摘要：Human decision making often seems to be determined by the resolution of intrapersonal conflict. This paper conceptualizes the analysis of decisions governed by such dual-self processes in individual decision contexts and strategic interactions. For this purpose, we define the solution concept Dual-Selves Equilibrium and derive sufficient conditions for the existence of such equilibria. We show that our framework also helps to study the strategic interaction between boundedly rational players t...
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作者：Jia, Dun
作者单位：Peking University Shenzhen Graduate School (PKU Shenzhen); Peking University
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作者：Huang, Jilei; Sun, Yi; Wang, Jian; Yang, Liyan
作者单位：Shandong University; Chinese Academy of Sciences; University of Chinese Academy of Sciences, CAS; The Chinese University of Hong Kong, Shenzhen; University of Toronto; Shandong University
摘要：We develop a growth model that endogenizes the occupational choice of workers with different ability levels to study how digitalization affects labor income inequality. The framework incorporates digitalization's multifaceted effects on the economy: (i) it influences economic growth through automation, and (ii) it affects labor income inequality through labor productivity (demand side) and labor time modulation (supply side). We examine how these channels influence wage inequality between skil...
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作者：Xi, Xican; Zhou, Anson
作者单位：Fudan University; Shanghai Institute of International Finance & Economics
摘要：This paper models fertility as the outcome of gender-biased technological progress interacting with endogenous social norms governing childcare. When rising female wages outpace norm adjustment, the inherited norm makes reallocating childcare toward fathers costly, so mothers bear a disproportionate burden and the shadow price of children rises. In cross-country data, fertility falls faster where women's relative standing rises, especially where norms are tighter or more rigid. Calibrated to S...
