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作者：Byrne, David; Goeree, Michelle S.; Hiedemann, Bridget; Stern, Steven
作者单位：University of Virginia; University of Zurich; University of Southern California; Seattle University
摘要：We use the 1993 wave of the Assets and Health Dynamics Among the Oldest Old (AHEAD) data set to estimate a game-theoretic model of families' decisions concerning the provision of informal and formal care for elderly individuals. The outcome is the Nash equilibrium where each family member jointly determines her consumption, transfers for formal care, and allocation of time to informal care, market work, and leisure. We use the estimates to decompose the effects of adult children's opportunity ...
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作者：Keister, Todd
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：Self-fulfilling expectations are commonly believed to play an important role in the transmission of currency crises across countries. Formal models of contagion based on multiple equilibria, however, have been criticized for failing to explain basic patterns observed in the data; these criticisms have been taken as evidence against the self-fulfilling view. This article argues that the importance of self-fulfilling beliefs is not so easily dismissed. A slightly richer model, based on the incom...
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作者：Kambourov, Gueorgui; Manovskii, Iourii
作者单位：University of Pennsylvania; University of Toronto
摘要：We find that returns to occupational tenure are substantial. Everything else being constant, 5 years of occupational tenure are associated with an increase in wages of 12%-20%. Moreover, when occupational experience is taken into account, tenure with an industry or employer has relatively little importance in accounting for the wage one receives. This finding is consistent with human capital being occupation specific.
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作者：Ederington, Josh; McCalman, Phillip
作者单位：University of Kentucky; University of California System; University of California Santa Cruz
摘要：In this article, industrial evolution is driven by endogenous technology choices of firms, generating a rich environment that includes the possibility of a dramatic shakeout. The likelihood, magnitude, and timing of this shakeout are characterized and depend not only on the size of an innovation but also on cost structure. In this setting, trade liberalization reduces the likelihood of a shakeout, resulting in more stable industrial structures. However, when shakeouts arise in global markets, ...
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作者：Peersman, Gert; Straub, Roland
作者单位：European Central Bank; Ghent University
摘要：We use a model-based identification strategy to estimate the impact of technology shocks on hours worked and employment in the euro area. The sign restrictions applied in the vector autoregression (VAR) analysis are consistent with a large class of dynamic stochastic general equilibrium (DSGE) models and are robust to parameter uncertainty. The results are in line with the conventional Real Business Cycle (RBC) interpretation that hours worked rise as a result of a positive technology shock. B...
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作者：Kelly, Morgan
作者单位：University College Dublin
摘要：I analyze technological progress when knowledge has a large tacit component so that transmission of knowledge takes place through direct personal imitation. It is shown that the rate of technological progress depends on the number of innovators in the same knowledge network. Assuming the diffusion of knowledge to mirror the geographical pattern of trade-the greater the trade between two sites, the greater the probability that technical knowledge flows between them-I show that a gradual expansi...
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作者：Blomquist, Soren; Micheletto, Luca
作者单位：Uppsala University; University of Milan; Bocconi University
摘要：We extend to a fiscal federalism setting the literature on redistributive in-kind transfers in the presence of nonlinear income taxation. Local governments have a cost advantage, motivating decentralization of the in-kind transfer. The cost structure varies across regions, and the central government cannot observe which region is which. We show that decentralized in-kind transfers can, in this setting, be an even more important instrument for relaxing self-selection constraints, thus, helping ...
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作者：Manski, Charles F.
作者单位：Northwestern University
摘要：This article develops a broad theme about treatment under ambiguity through study of a particular decision criterion. The broad theme is that a planner may want to cope with ambiguity by diversification, assigning observationally identical persons to different treatments. Study of the minimax-regret (MR) criterion substantiates the theme. The article significantly extends my earlier analysis of one-period planning with an individualistic treatment and a linear welfare function. I show that MR ...
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作者：Belleflamme, Paul; Toulemonde, Eric
作者单位：Universite Catholique Louvain; Universite Catholique Louvain; University of Namur; IZA Institute Labor Economics
摘要：Two types of agents interact on a pre-existing free platform. Agents value positively the presence of agents of the other type but may value negatively the presence of agents of their own type. We ask whether a new platform can find fees and subsidies so as to divert agents from the existing platform and make a profit. We show that this might be impossible if intra-group negative externalities are sufficiently (but not too) strong with respect to positive inter-group externalities.
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作者：Lee, Sam-Ho
作者单位：University of Western Australia
摘要：This article introduces a new model of early contracting. Employers who have private information about the applicant's ability worry that applicants who accept their offer are precisely those who were not offered other jobs. To avoid this winner's curse, employers anticipate the time of contracting. The model is developed in the context of university admissions, and is shown to be consistent with several stylized facts in that market. We show that, in contrast to received wisdom, allocative ef...
