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作者：Ma, Lin; Shapira, Gil; de Walque, Damien; Quy-Toan Do; Friedman, Jed; Levchenko, Andrei A.
作者单位：Singapore Management University; The World Bank; University of Michigan System; University of Michigan; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR)
摘要：In lower-income countries, the economic contractions that accompany lockdowns to contain COVID-19 transmission can increase child mortality, counteracting the mortality reductions achieved by the lockdown. To formalize and quantify this effect, we build a macrosusceptible-infected-recovered model that features heterogeneous agents and a country-group-specific relationship between economic downturns and child mortality and calibrate it to data for 85 countries across all income levels. We find ...
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作者：Li, Yunan; Wang, Cheng
作者单位：City University of Hong Kong; Fudan University
摘要：We offer a new way of thinking about labor market fluctuations. In a perfectly stationary physical environment of the labor market, moral hazard and competition in long-term contracting generate cycles in market tightness, which may induce job creation and destruction, and two-period and longer cycles in wages and employment. Long-term contracts use termination as an incentive device. Underlying the cycles is an intertemporal negative externality. In prescribing a larger (smaller) probability ...
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作者：Wang, Yanfei
作者单位：Renmin University of China
摘要：This article develops and estimates a dynamic oligopoly model to study the multilevel adoption of electronic medical records in U.S. hospitals. I find substantial competitive effects in the adoption process, and hospitals of the same adoption level compete more intensely than hospitals of different levels do. Counterfactual experiments suggest that competitive effects prompt hospitals to engage in preemptive adoption and greatly deter the second adopter in a duopoly market. By evaluating the g...
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作者：Anderson, Axel
作者单位：Georgetown University
摘要：Kremer and Maskin (1996, NBER Working Paper) explore matching when production involves defined roles. Despite underlying Cobb-Douglas production functions, the induced maximum production function is not supermodular (SPM), and positive sorting does not arise. This article introduces and solves a general class of role-assignment matching models with general SPM production functions. The unique equilibrium entails a novel blend of positive sorting in the large, and locally negative sorting that ...
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作者：Ioannides, Yannis M.
作者单位：Tufts University
摘要：The article examines the joint evolution of human capital investment and social networking where the network may be endogenous or exogenous. It extends Cabrales et al. (Games and Economic Behavior 72 (2011), 339-60) to dynamic settings to allow for intergenerational transfers of human capital and social networking endowments as joint decisions. Social multipliers characterize the social equilibria. The associated intergenerational transfer elasticities exhibit rich dependence on social effects...
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作者：Grant, Iris; Kesternich, Iris; Van Biesebroeck, Johannes
作者单位：KU Leuven
摘要：Demand for long-term care services is growing strongly. Using a rich administrative data set for Germany, we examine strategic interaction between nonprofit and for-profit nursing homes. The estimated competitive effects imply that competition is much stronger within type, suggesting that they provide differentiated products. Over time, the entry behavior of for-profit homes has converged to that of the more established nonprofits and between-type competition has become stronger. Counterfactua...
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作者：Cho, Jin Seo; Phillips, Peter C. B.; Seo, Juwon
作者单位：Beijing Institute of Technology; Yonsei University; Yale University; University of Auckland; University of Southampton; Singapore Management University; National University of Singapore
摘要：We propose a framework for estimation of the conditional mean function in a parametric model with function space covariates. The approach employs a functional mean squared error objective criterion. Under regularity conditions, consistency and asymptotic normality are established. The analysis extends to situations where the asymptotic properties are influenced by estimation errors arising from the presence of nuisance parameters. Wald, Lagrange multiplier, and quasi-likelihood ratio statistic...
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作者：Awaya, Yu; Fukai, Hiroki; Watanabe, Makoto
作者单位：University of Rochester; Chukyo University; Vrije Universiteit Amsterdam
摘要：This article presents a simple equilibrium model in which collateralized credit emerges endogenously. In a frictional world, where commitment is limited and agent's actions are not publicly observable, we show that collateral can serve as a credible device that prevents the participating parties from reneging. Our theory provides a microfoundation to justify the borrowing constraints that are widely used in the existing macroeconomic models. Using the model, we explain the payment puzzle. We a...
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作者：Faure, Mathieu; Gravel, Nicolas
作者单位：Aix-Marseille Universite; Centre National de la Recherche Scientifique (CNRS)
摘要：This article establishes an equivalence between four incomplete rankings of distributions of income among agents who are vertically differentiated with respect to some nonincome characteristic (health, household size, etc.). The first ranking is the possibility of going from one distribution to the other by a finite sequence of income transfers from richer and more highly ranked agents to poorer and less highly ranked ones. The second ranking is the unanimity among utilitarian planners who ass...
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作者：Felgenhauer, Mike; Xu, Fangya
作者单位：Brunel University; University of Reading
摘要：A sender wishes to persuade a receiver with a (surprising) result that challenges the prior belief. The result stems either from sequential private experimentation or manipulation. The incentive to experiment and to manipulate depends on the quality threshold for persuasion. Higher thresholds make it harder to find a surprising outcome via experimentation and may encourage manipulation. Suppose there are observable nonmanipulable and manipulable research methods. For the decision quality, the ...
