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作者：Camera, Gabriele; Selcuk, Cemil
作者单位：Purdue University System; Purdue University; DePaul University
摘要：We present a model that generates empirically plausible price distributions in directed search equilibrium. There are many identical buyers and many identical capacity-constrained sellers who post prices. These prices can be renegotiated to some degree and the outcome depends on the number of buyers who want to purchase the good. In equilibrium all sellers post the same price, demand is randomly distributed, and there is sale price dispersion. Prices and distributions depend on market tightnes...
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作者：Doepke, Matthias; Zilibotti, Fabrizio
作者单位：Northwestern University; University of Zurich
摘要：Child labor is a persistent phenomenon in many developing countries. In recent years, support has been growing among rich-country governments and consumer groups for the use of trade policies, such as product boycotts and the imposition of international labor standards, to reduce child labor in poor countries. In this paper, we discuss research on the long-run implications of such policies. In particular, we demonstrate that such measures may have the unintended side effect of lowering domesti...
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作者：Sarno, Lucio; Valente, Giorgio
作者单位：City St Georges, University of London; University of Leicester
摘要：Using novel real-time data on a broad set of economic fundamentals for five major US dollar exchange rates over the recent float, we employ a predictive procedure that allows the relationship between exchange rates and fundamentals to evolve over time in a very general fashion. Our key findings are that: (i) the well-documented weak out-of-sample predictive ability of exchange rate models may be caused by poor performance of model-selection criteria, rather than lack of information content in ...
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作者：van den Berg, Gerard J.; Bergemann, Annette H.; Caliendo, Marco
作者单位：Vrije Universiteit Amsterdam; IZA Institute Labor Economics
摘要：Labor market programs may affect unemployed individuals' behavior before they enroll. Such ex ante effects are hard to identify without model assumptions. We develop a novel method that relates self-reported perceived treatment rates and job-search behavioral outcomes, like the reservation wage, to each other, among newly unemployed workers. Job search theory is used to derive theoretical predictions. To deal with effect heterogeneity and selectivity, the effects of interest are estimated by p...
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作者：Crawford, Vincent P.; Kugler, Tamar; Neeman, Zvika; Pauzner, Ady
作者单位：University of California System; University of California San Diego; University of Arizona; Boston University; Tel Aviv University
摘要：This paper begins to explore behavioral mechanism design, replacing equilibrium by a model based on level-k thinking, which has strong support in experiments. In representative examples, we consider optimal sealed-bid auctions with two symmetric bidders who have independent private values, assuming that the designer knows the distribution of level-k bidders. We show that in a first-price auction, level-k bidding changes the optimal reserve price and often yields expected revenue that exceeds M...
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作者：Knoepfle, Daniel T.; Wang, Joseph Tao-yi; Camerer, Colin F.
作者单位：Stanford University; National Taiwan University; California Institute of Technology
摘要：We report results from an exploratory study using eye-tracking recording of information acquisition by players in a game theoretic learning paradigm. Eye-tracking is used to observe what information subjects look at in 4x4 normal-form games; the eye-tracking results favor sophisticated learning over adaptive learning and lend support to anticipatory or sophisticated models of learning in which subjects look at payoffs of other players to anticipate what those players might do. The decision dat...
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作者：Martins, Nuno; Villanueva, Ernesto
摘要：Young adults leave their parents' homes at a higher rate in Northern Europe or in the United States than in Southern Europe, with broad implications on labor market mobility and on fertility. We assess if differences in household formation are associated to differences in access to credit by estimating the impact of the cost of a mortgage on the probability that a young adult leaves his or her parents' home. Exogenous changes in the cost of credit are identified using the reform in 1998 and th...
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作者：Canova, Fabio
作者单位：Pompeu Fabra University
摘要：This paper investigates what has caused output and inflation volatility to fall in the U. S. using a small scale structural model using Bayesian techniques and rolling samples. There are instabilities in the posterior of the parameters describing the private sector, the policy rule, and the variance of the shocks. Results are robust to the specification of the policy rule. Changes in the parameters describing the private sector are the largest, but those of the policy rule and the covariance m...
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作者：Borghans, Lex; Heckman, James J.; Golsteyn, Bart H. H.; Meijers, Huub
作者单位：Maastricht University; University of Chicago
摘要：This paper demonstrates gender differences in risk aversion and ambiguity aversion. It also contributes to a growing literature relating economic preference parameters to psychological measures by asking whether variations in preference parameters among persons, and in particular across genders, can be accounted for by differences in personality traits and traits of cognition. Women are more risk-averse than men. Over an initial range, women require no further compensation for the introduction...
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作者：Cunha, Flavio; Heckman, James J.
作者单位：University of Pennsylvania; University of Chicago; University College Dublin
摘要：Recent research on the economics of human development deepens understanding of the origins of inequality and excellence. It draws on and contributes to personality psychology and the psychology of human development. Inequalities in family environments and investments in children are substantial. They causally affect the development of capabilities. Both cognitive and noncognitive capabilities determine success in life but to varying degrees for different outcomes. An empirically determined tec...
