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作者：Azmat, Ghazala
作者单位：Institut d'Etudes Politiques Paris (Sciences Po); University of London; London School Economics & Political Science
摘要：Tax credits are a popular way to alleviate in-work poverty. A common empirical assumption is that the benefit of the tax credit is borne solely by the claimant workers. However, economic theory suggests no particular reason why this should be the case. This paper investigates the impact of the Working Families' Tax Credit, introduced in the UK in 1999, on wages. Unlike similar tax credit policies, this tax credit was paid through employers rather than directly to workers, making it more salien...
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作者：Chen, Qihui; Fang, Zheng
作者单位：The Chinese University of Hong Kong, Shenzhen; The Chinese University of Hong Kong, Shenzhen; Texas A&M University System; Texas A&M University College Station
摘要：This paper develops a general framework for conducting inference on the rank of an unknown matrix pi(0). A defining feature of our setup is the null hypothesis of the form H0:rank(pi 0)<= r. The problem is of first-order importance because the previous literature focuses on H0 ':rank(pi 0)=r by implicitly assuming away rank(pi 0)
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作者：Guggenberger, Patrik; Kleibergen, Frank; Mavroeidis, Sophocles
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of Amsterdam; University of Oxford
摘要：We study subvector inference in the linear instrumental variables model assuming homoskedasticity but allowing for weak instruments. The subvector Anderson and Rubin (1949) test that uses chi square critical values with degrees of freedom reduced by the number of parameters not under test, proposed by Guggenberger, Kleibergen, Mavroeidis, and Chen (2012), controls size but is generally conservative. We propose a conditional subvector Anderson and Rubin test that uses data-dependent critical va...
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作者：Freeman, David J.; Halevy, Yoram; Kneeland, Terri
作者单位：Simon Fraser University; University of Toronto; University of London; University College London
摘要：We study the effect of embedding pairwise choices between lotteries within a choice list on measured risk attitude. Using an experiment with online workers, we find that subjects choose the risky lottery rather than a sure payment significantly more often when responding to a choice list. This behavior can be rationalized by the interaction between nonexpected utility and the random incentive system, as suggested by Karni and Safra ().
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作者：Hintermaier, Thomas; Koeniger, Winfried
作者单位：University of Bonn; University of St Gallen; IZA Institute Labor Economics
摘要：This paper develops a notion of consumer confidence within a dynamic competitive equilibrium framework. In any situation where multiple equilibrium prices on next-period spot markets are equally supported by the state of the economy, confidence is encoded in the subjective probabilities consumers attach to these multiple future outcomes. Our approach characterizes the set of all equilibrium-consistent subjective probabilities, and thereby endogenizes the extent of uncertainty faced by consumer...
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作者：Lai, Ernest K.; Lim, Wooyoung
作者单位：Lehigh University; Hong Kong University of Science & Technology
摘要：We design experimental games to evaluate the predictive power of the first cheap-talk refinement, neologism-proofness. In our first set of treatments designed to evaluate the refinement with its usual emphasis on literal meanings, we find that a fully revealing equilibrium that is neologism-proof is played more often; senders deviate from an equilibrium in a way that can be predicted by the credibility of the neologism; and receivers' behavior indicates that they understand senders' deviating ...
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作者：Kociecki, Andrzej; Kolasa, Marcin
作者单位：Narodowy Bank Polski; Warsaw School of Economics
摘要：This paper introduces a computational framework to analyze global identification of linearized DSGE models. A formal identification condition is established that relies on the restrictions linking the observationally equivalent state space representations and on the inherent constraints imposed by the model solution on the deep parameters. This condition is next used to develop an algorithm that checks global identification by searching for observationally equivalent model parametrizations. Th...
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作者：Hyytinen, Ari; Merilainen, Jaakko; Saarimaa, Tuukka; Toivanen, Otto; Tukiainen, Janne
作者单位：University of Jyvaskyla; Stockholm University; Aalto University; VATT Institute for Economic Research; KU Leuven; University of London; London School Economics & Political Science
摘要：We use elections data in which a large number of ties in vote counts between candidates are resolved via a lottery to study the personal incumbency advantage. We benchmark non-experimental regression discontinuity design (RDD) estimates against the estimate produced by this experiment that takes place exactly at the cutoff. The experimental estimate suggests that there is no personal incumbency advantage. In contrast, conventional local polynomial RDD estimates suggest a moderate and statistic...
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作者：Khan, Shakeeb; Nekipelov, Denis
作者单位：Boston College; University of Virginia
摘要：Strategic interaction parameters characterize the impact of actions of one economic agent on the payoff of another economic agent, and are of great interest in both theoretical and empirical work. In this paper, by considering econometric models involving simultaneous discrete systems of equations, we study how the information available to economic agents regarding other economic agents can influence whether or not these strategic information parameters can be inferred from the observed action...
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作者：Esponda, Ignacio; Vespa, Emanuel
作者单位：University of California System; University of California Santa Barbara
摘要：Accounting for sample selection is a challenge not only for empirical researchers, but also for the agents populating our models. Yet most models abstract from these issues and assume that agents successfully tackle selection problems. We design an experiment where a person who understands selection observes all the data required to account for it. Subjects make choices under uncertainty and their choices reveal valuable information that is biased due to the presence of unobservables. We find ...
