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作者：Goette, Lorenz; Tripodi, Egon
作者单位：University of Bonn; National University of Singapore; University of Essex
摘要：We propose a novel experiment that prevents social learning, thus allowing us to disentangle the underlying mechanisms of social influence. Subjects observe their peer's incentives, but not their behavior. We find evidence of conformity: When individuals believe that incentives make others contribute more, they also increase their contributions. Conformity is driven by individuals who feel socially close to their peer. However, when incentives are not expected to raise their peer's contributio...
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作者：Klor, Esteban F.; Saiegh, Sebastian; Satyanath, Shanker
作者单位：Hebrew University of Jerusalem; University of California System; University of California San Diego; New York University
摘要：We study whether crony governance can extend beyond economic policy to the targeting of state violence against citizens. Specifically, we examine the logic driving the choice of firm-level union representatives who were subjected to state repression by the 1976-1983 Argentine military junta. Using an original dataset, we find a positive, nonspurious, and robust correlation between labor repression and cronyism, measured by political, business, and social connections to the regime. Our results ...
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作者：Argente, David; Lee, Munseob
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; University of California System; University of California San Diego
摘要：We construct income-specific price indexes for the period from 2004 to 2016. We find substantial differences across income groups that arise during the Great Recession. The difference in annual inflation between the lowest quartile of the income distribution and the highest quartile was 0.22 percentage points for 2004-2007, 0.85 percentage points for 2008-2013, and 0.02 percentage points for 2014-2016. We find that product quality substitution and changes in the shopping behavior, margins most...
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作者：Kopp, Daniel; Siegenthaler, Michael
作者单位：Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：We study whether the Swiss short-time work (STW) program reduced unemployment in and after the Great Recession using quarterly establishment-level panel data linking administrative data sources. We compare changes in layoffs into unemployment, employment, and establishment survival between establishments that applied successfully and establishments that applied unsuccessfully for STW at cantonal employment agencies. The unsuccessful establishments provide a valid counterfactual for the success...
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作者：Bold, Tessa; Broer, Tobias
作者单位：Stockholm University
摘要：We quantitatively evaluate a model of insurance with limited commitment where the requirement that contracts be immune to deviations by subcoalitions makes group size endogenous, as proposed by Genicot and Ray. We compare the model's predictions to panel data from rural Indian villages. Apart from predicting a realistic degree of insurance, the model captures the evidence along two new dimensions: First, the largest coalition-proof groups are substantially smaller than typical villages. Second...
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作者：Hassler, John; Krusell, Per; Olovsson, Conny
作者单位：European Central Bank
摘要：There is a scientific consensus that human activities, in the form of emissions of carbon dioxide into the atmosphere, cause global warming. These emissions mostly occur in the marketplace, that is, they are undertaken by private individuals and firms. Governments seeking to curb emissions thus need to design policies that influence market behavior in the direction of their goals. Economists refer to Pigou taxation as the solution here, since the case of global warming can be seen as a pure (n...
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作者：Lutz, Flora; Pichler, Paul
作者单位：University of Vienna
摘要：We study financial stability regulation in an environment with pecuniary externalities and where banks face both a liability choice (between private money creation and long-term borrowing) and an asset choice (between liquid and illiquid investments). Return risk on illiquid assets gives rise to liquidity risk, because banks that learn to have low future returns find themselves unable to roll over money-like debt. Privately optimal borrowing and investment decisions by banks lead, in general, ...
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作者：Balestrieri, Filippo; Izmalkov, Sergei; Leao, Joao
作者单位：Analysis Group Inc.; New Economic School; Instituto Universitario de Lisboa
摘要：In this paper, we solve the revenue maximization problem of a multi-product monopolist when the products are substitutes. We consider a Hotelling model with two horizontally differentiated goods located at the endpoints of the segment. Consumers are located uniformly on the segment; their valuations for each good are equal to the base consumption value minus distance costs. When the base consumption value is high, the seller maximizes her expected profit by offering a menu of base and opaque g...
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作者：Hamory, Joan; Kleemans, Marieke; Li, Nicholas Y.; Miguel, Edward
作者单位：University of Oklahoma System; University of Oklahoma - Norman; University of Illinois System; University of Illinois Urbana-Champaign; University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：Recent research has pointed to large gaps in labor productivity between the agricultural and non-agricultural sectors in low-income countries, as well as between workers in rural and urban areas. Most estimates are based on national accounts or repeated cross-sections of microsurvey data, and as a result typically struggle to account for individual selection between sectors. This paper uses long-run individual-level panel data from two low-income countries (Indonesia and Kenya) to explore thes...
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作者：Ravn, Morten O.; Sterk, Vincent
作者单位：University of London; University College London
摘要：Recently developed HANK models, which combine Heterogeneous Agents and New Keynesian frictions, have had a considerable impact on macroeconomics. However, due to the complexity of such models, the literature has focused on numerically solved models and therefore little is known about their general properties. This paper presents a tractable HANK model that integrates Search and Matching (SAM) frictions in the labor market. The model features an endogenous idiosyncratic earnings risk, which may...
