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作者：Tirole, Jean; Persson, Torsten; Neary, Peter; Blundell, Richard
摘要：In this paper we define and estimate measures of labor market frictions using data on job durations. We compare different estimation methods and different types of data. We propose and apply an unconditional inference method that can be applied to aggregate duration data. It does not require wage data, it is invariant to the way in which wages are determined, and it allows workers to care about other job characteristics. The empirical analysis focuses on France, but we perform separate analyse...
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作者：Coupe, Tom
摘要：In this paper, I study the production of academic research by economics departments and economists. Worldwide rankings are provided based on both citations and publications. These rankings reveal a dominant position of the United States in the production of economics literature. Over time, however, the extent of this dominance is decreasing. (JEL: A10, A14)
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作者：Smets, Frank; Wouters, Raf
作者单位：European Central Bank; European Central Bank; National Bank of Belgium
摘要：Recently there has been a great deal of interest in studying monetary policy under model uncertainty. We point out that different assumptions about the uncertainty may result in drastically different robust policy recommendations. Therefore, we develop new methods to analyze uncertainty about the parameters of a model, the lag specification, the serial correlation of shocks, and the effects of real-time data in one coherent structure. We consider both parametric and nonparametric specification...
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作者：Banerjee, Abhijit V.; Duflo, Esther; Munshi, Kaivan
作者单位：Massachusetts Institute of Technology (MIT); University of Pennsylvania
摘要：Is capital allocated so that its marginal product is equated to the market interest rate? Is the marginal product of capital equalized across its alternative uses? This paper attempts to answer both of these questions using data from India, and concludes that both these standard properties fail by a wide margin. (JEL: O16, G2)
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作者：Bourguignon, Francois; Nunez, Jairo; Sanchez, Fabio
作者单位：The World Bank; Universite PSL; Ecole Normale Superieure (ENS)
摘要：Economic theory suggests that inequality should influence crime positively. Yet, the evidence in favor of that hypothesis is weak. Pure cross-sectional analyses show significant positive effects but cannot control for fixed effects. Time series and panel data point to a variety of results, but few turn out being significant. The hypothesis maintained in this paper is that it is a specific part of the distribution, rather than the overall distribution as summarized by conventional inequality me...
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作者：Saint-Paul, Gilles
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; IZA Institute Labor Economics; Leibniz Association; Ifo Institut
摘要：We study an endogenous growth model where a profit-motivated R and D sector coexists with the introduction of free blueprints invented by philanthropists. These goods are priced at marginal cost, contrary to proprietary ones which are produced by a monopoly owned by the inventor. We show that philanthropy does not necessarily increase long-run growth and that it may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation in the long...
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作者：McLaren, John
作者单位：University of Virginia; National Bureau of Economic Research
摘要：Globalization, by raising the number of buyers available to each seller and the number of sellers available to each buyer, raises the thickness, or the effective number of participants, of every market. Market thickness can have subtle effects on incentives and organizations, alleviating hold-up problems, resulting in less vertical integration, more informal contracting, and more cooperative and innovative relationships with subcontractors. However, it can also weaken long-run relationships, d...
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作者：Zenou, Yves
作者单位：University of Southampton
摘要：This paper aims to explain the spatial variations of crime, both between and within cities. Two types of mechanisms are put forward: Social interactions that stipulate that an individual is more likely to commit crime if his peers commit than if they do not commit crime, and distance to jobs that indicates that remote residential location induces individuals to commit more crime. Both mechanisms are shown to have strong empirical support. (JEL: K42, R1)
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作者：Anderson, Evan W.; Hansen, Lars Peter; Sargent, Thomas J.
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of Chicago; New York University
摘要：A representative agent fears that his model, a continuous time Markov process with jump and diffusion components, is misspecified and therefore uses robust control theory to make decisions. Under the decision maker's approximating model, cautious behavior puts adjustments for model misspecification into market prices for risk factors. We use a statistical theory of detection to quantify how much model misspecification the decision maker should fear, given his historical data record. A semigrou...
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作者：Bisin, Alberto; Topa, Giorgio
作者单位：New York University
摘要：This paper reviews several issues concerning an empirical analysis of the endogenous formation of preferences, as well as cognitive and psychological traits. In particular we show by means of examples how, with existing data, it is possible to identify empirically the distinct influence of family and society at large in the determination of cultural traits, and to disentangle genetic inheritability from cultural and environmental factors determining cognitive and psychological traits. (JEL: I2...
