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作者：Harding, Matthew C.; Hausman, Jerry
作者单位：Massachusetts Institute of Technology (MIT); Stanford University
摘要：Current methods of estimating the random coefficients logit model employ simulations of the distribution of the taste parameters through pseudo-random sequences. These methods suffer from difficulties in estimating correlations between parameters and computational limitations such as the curse of dimensionality. This article provides a solution to these problems by approximating the integral expression of the expected choice probability using a multivariate extension of the Laplace approximati...
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作者：Train, Kenneth E.; Winston, Clifford
作者单位：University of California System; University of California Berkeley; Brookings Institution
摘要：We develop a consumer-level model of vehicle choice to shed light on the erosion of the U.S. automobile manufacturers' market share during the past decade. We examine the influence of vehicle attributes, brand loyalty, product line characteristics, and dealerships. We find that nearly all of the loss in market share for U.S. manufacturers can be explained by changes in basic vehicle attributes, namely: price, size, power, operating cost, transmission type, reliability, and body type. U.S. manu...
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作者：Van den Berg, Gerard J.; Van der Klaauw, Bas
作者单位：Vrije Universiteit Amsterdam; Tinbergen Institute
摘要：We investigate the effect of counseling and monitoring on the individual transition rate to employment. We theoretically analyze these policies in a job search model with two search channels and endogenous search effort. In the empirical analysis we use unique administrative and survey data concerning a social experiment with full randomization and compliance. The results do not provide evidence that counseling and monitoring affect the exit rate to work. Monitoring causes a shift from informa...
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作者：Engelbrecht-Wiggans, R; List, JA; Reiley, DH
作者单位：University of Chicago; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; University of Arizona
摘要：Recent auction theory and experimental results document strategic demand reduction by bidders in uniform-price auctions. The present article extends this area of research to consider the effects of varying the number of bidders. Our theoretical model predicts that demand reduction should decrease with an increase in the number of bidders. Considerable demand reduction remains even in the asymptotic limit, although truthful bidding yields profits very close to those of equilibrium play. We expe...
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作者：Ackerberg, DA; Machado, MP; Riordan, MH
作者单位：University of California System; University of California Los Angeles; Universidad Carlos III de Madrid; Columbia University
摘要：A methodology is developed and applied to compare the performance of publicly funded agencies providing treatment for alcohol abuse in Maine. The methodology estimates a Wiener process that determines the duration of completed treatments, while allowing for agency differences in the effectiveness of treatment, costs of treatment, standards for completion of treatment, patient attrition, and the characteristics of patient populations. Notably, the Wiener process model separately identifies agen...
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作者：Cuadras-Morató, X; Mateos-Planas, X
作者单位：University of Southampton; Pompeu Fabra University
摘要：This article studies simultaneous changes in four labor market variables: the unemployment rates for college and high-school graduates, the education wage premium, and the level of college participation. It develops an equilibrium search and matching model of the labor market where education is endogenously determined. Then the model is used to investigate quantitatively whether the change in the above labor market variables from 1970 to 1990 in the United States can be traced to changes in th...
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作者：Phillips, Peter C. B.; Sun, Yixiao; Jin, Sainan
作者单位：Yale University; University of California System; University of California San Diego; Peking University
摘要：A new class of kernels for long-run variance and spectral density estimation is developed by exponentiating traditional quadratic kernels. Depending on whether the exponent parameter is allowed to grow with the sample size, we establish different asymptotic approximations to the sampling distribution of the proposed estimators. When the exponent is passed to infinity with the sample size, the new estimator is consistent and shown to be asymptotically normal. When the exponent is fixed, the new...
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作者：Cavalcanti Ferreira, Pedro; Trejos, Alberto
作者单位：Getulio Vargas Foundation
摘要：We study the macroeconomic effects of international trade policy by integrating a Hecksher-Ohlin trade model into an optimal-growth framework. The model predicts that a more open economy will have higher factor productivity. Furthermore, there is a selective development trap to which countries may or may not converge, depending on policy. Income at the development trap falls as trade barriers increase. Hence, cross-country differences in barriers to trade may help explain the dispersion of per...
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作者：Davidson, Carl; Matusz, Steven J.
作者单位：Michigan State University; University of Nottingham
摘要：Liberalization harms some groups while generating aggregate benefits. We consider various labor market policies that might be used to compensate those who lose from freer trade. Our goal is to find the policy that compensates each group of losers at the lowest cost to the economy. We argue that wage subsidies should be used to compensate those who bear the adjustment costs triggered by liberalization whereas employment subsidies should be used to compensate those who remain trapped in the prev...
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作者：Domeij, David; Floden, Martin
作者单位：Stockholm School of Economics; Stockholm School of Economics
摘要：We use the neoclassical growth framework to model international capital flows in a world with exogenous demographic change. We compare model implications and actual current account data and find that the model explains a small but significant fraction of capital flows between OECD countries, in particular after 1985.
