-
作者：Fernandes, Ana M.; Paunov, Caroline
作者单位：The World Bank; Organisation for Economic Co-operation & Development (OECD)
摘要：While innovation matters for competitiveness, it may expose firms to survival risks. Using plant-product data for Chile and discrete-time hazard models, we show that innovating plants have a lower hazard of exit. However, risk has a strong impact on the innovation-exit relationship: only innovators that retain diversified sources of revenue or face lower market risk are less likely to die. Single-product innovators are at greater risk of exiting. Exposure to technical risk does not affect exit...
-
作者：Allcott, Hunt; Wozny, Nathan
-
作者：Bremzen, Andrei; Khokhlova, Elena; Suvorov, Anton; van de Ven, Jeroen
作者单位：McKinsey & Company; HSE University (National Research University Higher School of Economics); University of Amsterdam; Tinbergen Institute
摘要：Psychologists and economists have argued that rewards often have hidden costs. One possible reason is that the principal may have incentives to offer higher rewards when she knows the task is difficult. Our experiment tests if high rewards embody such bad news and if this is correctly perceived by their recipients. Our design allows us to decompose the overall effect of rewards on effort into a direct incentive and an informational effect. The results show that participants correctly interpret...
-
作者：Diaz, Juan; Rau, Tomas; Rivera, Jorge
作者单位：Universidad de Chile; Pontificia Universidad Catolica de Chile
摘要：This paper proposes a novel matching estimator where neighbors used and weights are endogenously determined by optimizing a covariate balancing criterion. The estimator is based on finding, for each unit that needs to be matched, sets of observations such that a convex combination of them has the same covariate values as the unit needing matching or with minimized distance between them. We implement the proposed estimator with data from the National Supported Work Demonstration, finding outsta...
-
作者：Angelucci, Manuela
作者单位：University of Michigan System; University of Michigan
摘要：This paper shows that poor households' entitlement to an exogenous, temporary, but guaranteed income stream increases Mexican migration to the United States, although this income is mainly consumed. Some households use the entitlement to this income stream as collateral to finance the migration. The new migrations come from previously constrained individuals and households and worsen migrant skills. In sum, financial constraints to international migration are binding for poor Mexicans, some of...
-
作者：Schaumans, Catherine; Verboven, Frank
作者单位：Tilburg University; Tilburg University; KU Leuven; Centre for Economic Policy Research - UK
摘要：We propose a methodology for estimating the competition effects from entry when firms sell differentiated products. We first derive precise conditions under which Bresnahan and Reiss's entry threshold ratios (ETRs) can be used to measure competition effects. We then augment the traditional entry model with a revenue equation. This serves to adjust the ETRs by the extent of market expansion from entry, giving unbiased estimates of the competition effects. We apply our approach to seven local se...
-
作者：Azoulay, Pierre; Furman, Jeffrey L.; Krieger, Joshua L.; Murray, Fiona
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Boston University
摘要：To what extent does false science affect the rate and direction of scientific change? We examine the impact of over 1,100 scientific retractions on the citation trajectories of articles that are related to retracted papers in intellectual space but were published prior to the retraction event. Following retraction and relative to carefully selected controls, related articles experience a lasting 5% to 10% decline in the rate of citations received. This penalty is more severe when the retracted...
-
作者：Snider, Connan; Williams, Jonathan W.
作者单位：University of California System; University of California Los Angeles; University of North Carolina; University of North Carolina Chapel Hill
摘要：We investigate the success of legislation aimed at increasing competition at highly concentrated U.S. airports, mainly by forcing these airports to increase the availability of scarce facilities. We use a multidimensional regression-discontinuity approach to exploit a sharp discontinuity in the law's implementation and identify its effects. We find that fares decrease by 13.4% (20.2%) in markets with one (both) end point(s) covered. Approximately half of the decline is driven by the entry of l...
-
作者：Anderson, Eric; Jaimovich, Nir; Simester, Duncan
作者单位：Northwestern University; Duke University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT)
摘要：A leading explanation in the economic literature is that monetary policy has real effects on the economy because firms incur a cost when changing prices. Using a unique database of cost and retail price changes, we find that variation in menu costs results in up to 13.3% fewer price increases. We confirm that these effects are allocative and have a persistent impact on both prices and unit sales. We provide evidence that the menu cost channel operates only when cost increases are small in magn...
-
作者：Glaeser, Edward L.; Kerr, Sari Pekkala; Kerr, William R.
作者单位：Harvard University; Wellesley College
摘要：We study entrepreneurship and growth through the lens of U.S. cities. Initial entrepreneurship correlates strongly with urban employment growth, but endogeneity bedevils interpretation. Chinitz (1961) hypothesized that coal mines near cities led to specialization in industries, like steel, with significant scale economies and that those big firms subsequently damped entrepreneurship across several generations. Proximity to historical mining deposits is associated with reduced entrepreneurship ...
