Review of Economics and Statistics

最新文章

• Temporary Shocks and Persistent Effects in Urban Economies: Evidence from British Cities after the US Civil War AI翻译
  作者：Hanlon, W. Walker
  作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research
  摘要：Can a temporary economic shock to an important local industry influence long-run city population? To answer this question I study the large temporary shock to British cities caused by the U.S. CivilWar (1861-1865), which reduced cotton supplies to Britain's important cotton textile industry. I show that this event temporarily reduced the growth rate of cities specializing in cotton textile production, relative to other English cities, and led to a persistent change in the level of city populat...
• Econometrics of Ascending Auctions by Quantile Regression AI翻译
  作者：Gimenes, Nathalie
  作者单位：Pontificia Universidade Catolica do Rio de Janeiro
  摘要：This paper suggests an identification and estimation approach based on quantile regression to recover the underlying distribution of bidders' private values in ascending auctions under the IPV paradigm. The quantile regression approach provides a flexible and convenient parameterization of the private values distribution, with an estimation methodology easy to implement and with several specification tests. The quantile framework provides a new focus on the quantile level of the private values...
• A Portrait of Trade in Value-Added over Four Decades AI翻译
  作者：Johnson, Robert C.; Noguera, Guillermo
  作者单位：Dartmouth College; National Bureau of Economic Research; University of Warwick
  摘要：We combine data on trade, production, and input use to document changes in the value-added content of trade between 1970 and 2009. The ratio of value-added to gross exports fell by roughly 10 percentage points worldwide. The ratio declined 20 percentage points in manufacturing, but rose in nonmanufacturing sectors. Declines also differ across countries and trade partners: they are larger for fast-growing countries, for nearby trade partners, and among partners that adopt regional trade agreeme...
• Understanding the Advice of Commissions-Motivated Agents: Evidence from the Indian Life Insurance Market AI翻译
  作者：Anagol, Santosh; Cole, Shawn; Sarkar, Shayak
  作者单位：Harvard University; National Bureau of Economic Research; Harvard University
  摘要：We conduct a series of field experiments to evaluate the quality of advice provided by life insurance agents in India. Agents overwhelmingly recommend unsuitable, strictly dominated products that provide high commissions to the agent. Agents cater to the beliefs of uninformed consumers, even when those beliefs are wrong. We also find that agents appear to focus on maximizing the amount of premiums (and therefore their commissions) that customers pay, as opposed to focusing on how much insuranc...
• Inattention to Deferred Increases in Tax Bases: How Michigan Home Buyers Are Paying for Assessment Limits AI翻译
  作者：Bradley, Sebastien
  作者单位：Drexel University
  摘要：Michigan's implementation of assessment limits gives rise to a wide variation in taxable basis across comparable homes. Exploiting the fact that the resulting differences in property tax liability are temporarily inherited by new homebuyers, I estimate the degree of capitalization of these largely idiosyncratic tax differences to evaluate whether homebuyers understand the tax implications of their home purchases. Consistent with anecdotal evidence but in stark contrast to the traditional view ...
• A More Timely House Price Index AI翻译
  作者：Anenberg, Elliot; Laufer, Steven
  作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors
  摘要：Using listings data, we construct a new repeat-sales house price index that describes house values at the contract date when the price is determined rather than the closing date when the property is transferred. We showthat this difference in timing helps explain several puzzles about house prices, including their strong short-term serial correlation and their weak correlation with stock prices and macroeconomic news shocks. In addition, we showthat a variant of our index that relies exclusive...
• Authority, Incentives, and Performance: Evidence from a Chinese Newspaper AI翻译
  作者：Wu, Yanhui
  作者单位：University of Southern California
  摘要：This paper examines how the allocation of authority within an organization affects workers' incentives and performance, using personnel data from a Chinese newspaper. Relying on an authority change that transferred the right of making editorial decisions from midlevel editors to top editors in four of the eight divisions in the newspaper, I find that the authority change improves reporters' performance while reducing their activities for private gain and decreases midlevel editors' journalisti...
• Women Helping Women? Evidence from Private Sector Data on Workplace Hierarchies AI翻译
  作者：Kunze, Astrid; Miller, Amalia R.
  作者单位：Norwegian School of Economics (NHH); University of Virginia; IZA Institute Labor Economics; National Bureau of Economic Research
  摘要：We study gender spillovers in career advancement using eleven years of employer-employee matched data on white-collar workers at over 4,000 private sector workplaces in Norway. Our data allow us to define seven hierarchical ranks that are consistent across plants and over time and track promotions even for individuals who change employers. We find positive spillovers across ranks (flowing from higher-ranking to lower-ranking women) but negative spillovers within ranks. The finding of narrower ...
• Imperfect Competition in Selection Markets AI翻译
  作者：Mahoney, Neale; Weyl, E. Glen
  作者单位：University of Chicago; National Bureau of Economic Research
  摘要：Policies to correct market power and selection can be misguided when these forces coexist. We build a model of symmetric imperfect competition in selection markets that parameterizes the degree of market power and selection. We use graphical price-theoretic reasoning to characterize the interaction between these forces. Using a calibrated model of health insurance, we show that the risk adjustment commonly used to offset adverse selection can reduce coverage and social surplus. Conversely, in ...
• Nonparametric Estimation of a Nonseparable Demand Function under the Slutsky Inequality Restriction AI翻译
  作者：Blundell, Richard; Horowitz, Joel; Parey, Matthias
  作者单位：University of London; University College London; University of London; London School Economics & Political Science; Northwestern University; University of Essex
  摘要：We present a method for consistent nonparametric estimation of a demand function with nonseparable unobserved taste heterogeneity subject to the shape restriction implied by the Slutsky inequality. We use the method to estimate gasoline demand in the United States. The results reveal differences in behavior between heavy and moderate gasoline users. They also reveal variation in the responsiveness of demand to plausible changes in prices across the income distribution. We extend our estimation...