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作者：Nocke, Volker; Yeaple, Stephen
作者单位：University of Mannheim; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：We present an international trade model with multiproduct firms. Firms are heterogeneously endowed with two types of capabilities that jointly determine the trade-off within firms between managing a large portfolio of products and producing at low marginal cost. The model can explain many of the documented cross-sectional correlations in firm performance measures, including why larger firms are more productive and more diversified, and yet more diversified firms trade at a discount. Globalizat...
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作者：Niedermayer, Andras; Shneyerov, Artyom
作者单位：University of Mannheim; Concordia University - Canada
摘要：We consider optimal pricing by a profit-maximizing platform running a dynamic search and matching market. Buyers and sellers enter in cohorts over time, meet, and bargain under private information. The optimal centralized mechanism, which involves posting a bid-ask spread, can be decentralized through participation fees charged by the intermediary to both sides. The sum of buyers' and sellers' fees equals the sum of inverse hazard rates of the marginal types, and their ratio equals the ratio o...
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作者：Hasker, Kevin; Inci, Eren
作者单位：Ihsan Dogramaci Bilkent University; Sabanci University
摘要：We show why a mall provides parking for free and embed the parking costs in the prices of the goods. Essentially, charging a parking fee to risk-averse customers means penalizing them for not finding their desired good. This result holds whether the mall has monopoly power or prices competitively, if there is parking validation, and if there is a trade-off between shopping and parking spaces. It is also the attainable social optimum. The equilibrium lot size is too small, yielding a rationale ...
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作者：Campbell, Jeffrey R.; Eden, Benjamin
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago; Tilburg University; Vanderbilt University
摘要：This article uses weekly scanner data from two small U.S. cities to characterize time and state dependence of grocers' pricing decisions. In these data, the probability of a nominal adjustment declines with the time since the last price change. A store's price for a particular product typically goes through several price changes in rapid succession before settling down. We also detect state dependence: The probability of a nominal adjustment is highest when a store's price substantially differ...
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作者：Anderson, James E.; Milot, Catherine A.; Yotov, Yoto V.
作者单位：Boston College; Drexel University
摘要：We estimate geographic barriers to trade in nine service categories for Canada's provinces from 1997 to 2007 with novel high-quality bilateral provincial trade data. The border directly reduces average provincial trade with the United States relative to interprovincial trade to 2.4% of its borderless level. Incorporating multilateral resistance reduces foreign trade relative to interprovincial to 0.1% of its frictionless potential. Geography reduces services trade some seven times more than go...
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作者：Attanasio, Orazio P.; Borella, Margherita
作者单位：University of London; University College London; London School Economics & Political Science; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); University of Turin; Tilburg University
摘要：We characterize the time-series properties of group-level consumption, income, and interest rates using microdata. We relate the coefficients of moving average representations to structural parameters of theoretical models of consumption behavior. Using long time series of cross sections to construct synthetic panel data for the United Kingdom, we find that for high-educated individuals the Euler equation restrictions are not rejected, the elasticity of intertemporal substitution is higher tha...
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作者：Kuminoff, Nicolai V.; Pope, Jaren C.
作者单位：Arizona State University; Arizona State University-Tempe; Brigham Young University
摘要：This article develops a welfare theoretic framework for interpreting evidence on the impacts of public programs on housing markets. We extend Rosen's hedonic model to explain how housing prices capitalize exogenous shocks to public goods and externalities. The model predicts that trading between heterogeneous buyers and sellers will drive a wedge between these capitalization effects and welfare changes. We test this hypothesis in the context of changes in measures of school quality in five met...
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作者：Wolthoff, Ronald
作者单位：University of Toronto
摘要：Empirical evidence suggests that transitions between employment states are highly clustered around the first day of each workweek or month. I analyze the effect of this phenomenon by presenting an equilibrium search model in which the period length is a parameter determining the degree of clustering. Infinitesimally short periods result in a continuous-time model with bilateral meetings, whereas longer time periods introduce the possibility of recall or simultaneity of job offers. In this envi...
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作者：Chassamboulli, Andri; Palivos, Theodore
作者单位：University of Cyprus; Athens University of Economics & Business
摘要：We analyze the impact of the U.S. skill-biased immigration influx that took place between 2000 and 2009 within a search and matching model that allows for skill heterogeneity, differential search cost, and capital-skill complementarity. We find that although the skill-biased immigration raised the overall net income to natives, it had distributional effects. Specifically, unskilled native workers gained in terms of both employment and wages. Skilled native workers, however, gained in terms of ...
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作者：Behrens, Kristian; Mion, Giordano; Murata, Yasusada; Suedekum, Jens
作者单位：University of Quebec; University of Quebec Montreal; University of Surrey; Nihon University; Heinrich Heine University Dusseldorf; IZA Institute Labor Economics
摘要：We develop a general equilibrium monopolistic competition model in which wages, productivity, consumption diversity, and markups respond to trade integration. We structurally estimate the model and simulate the impacts of removing all trade barriers generated by the Canada-U.S. border. Firm selection gets tougher by 8.09% in Canada and by 0.80% in the United States. Markups that consumers face, which are central to welfare, fall by up to 12.11% in Canadian provinces and by up to 2.82% in U.S. ...
