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作者：Manara, Martina; Regan, Tanner
作者单位：George Washington University
摘要：Information on willingness-to-pay is key for public pricing and allocation of services but not easily collected. Studying land titles in Dar-es-Salaam, we ask whether local leaders know and will reveal plot owners' willingness-to-pay. We randomly assign leaders to predict under different settings then elicit owners' actual willingness-to-pay. Demand is substantial but below exorbitant fees. Leaders can predict the aggregate demand curve and distinguish variation across owners. Predictions wors...
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作者：Pathak, Parag A.; Rees-Jones, Alex; Sonmez, Tayfun
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of Pennsylvania; Boston College
摘要：The H-1B Visa Reform Act of 2004 dictates an annual allocation of 85,000 visas with 20,000 reserved for advanced-degree applicants. We represent the main requirements of this legislation as formal axioms and characterize visa allocation rules consistent with the axioms. Despite the precise number reserved, we show that the range of implementations satisfying these axioms can change the allocation of advanced-degree visas by as much as 14,000 in an average year. Of all rules satisfying these ax...
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作者：Morales, Nicolas
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Richmond
摘要：This article aims to understand the relationship between high-skill immigration and multinational activity. I assemble a firm-level dataseton high-skill visas and show that there is a large home bias effect: foreignmultinationals hire more immigrants from their home countries than fromother origins. I then build and estimate a quantitative model that relatesmultinational production with immigration. First, I impose a restrictive im-migration policy in the United States and evaluate how it affe...
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作者：Dahis, Ricardo; Schiavon, Laura; Scot, Thiago
作者单位：Monash University; Universidade Federal de Juiz de Fora; The World Bank
摘要：In the absence of strong incentives, public service delivery is crucially dependent on bureaucrat selection. Despite wide adoption by governments, it is unclear whether civil service examinations reliably select for job performance. We investigate this question focusing on state judges in Brazil. Exploring monthly data on judicial output and cross-court movement, we estimate that judges account for at least 23% of the observed variation in the number of cases disposed. With novel data on admis...
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作者：Miyamoto, Wataru; Nguyen, Thuy Lan; Oh, Hyunseung
作者单位：University of Hong Kong; Federal Reserve System - USA; Federal Reserve Bank - San Francisco; Santa Clara University; Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：We uncover the major drivers of macro aggregates and the real exchange rate at business cycle frequencies in Group of Seven countries. The estimated drivers of key macro variables resemble each other and account for a modest fraction of the real exchange rate variances. Dominant drivers of the real exchange rate are orthogonal to the main drivers of business cycles, generate a significant deviation of the uncovered interest parity condition, and lead to small movements in net exports. We use t...
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作者：Muris, Chris; Raposo, Pedro; Vandoros, Sotiris
作者单位：McMaster University; Universidade Catolica Portuguesa; University of London; University College London; Harvard University
摘要：We study a fixed- T panel data logit model for ordered outcomes that accommodates fixed effects and state dependence. We provide identification results for the autoregressive parameter, regression coefficients, and the threshold parameters in this model. Our results require only four observations on the outcome variable. We provide conditions under which a composite conditional maximum likelihood estimator is consistent and asymptotically normal. We use our estimator to explore the determinant...
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作者：Mion, Giordano; Opromolla, Luca David; Sforza, Alessandro
作者单位：ESSEC Business School; University of Nottingham; North Carolina State University; Banco de Portugal; University of Bologna
摘要：We investigate how managers help firms grow by entering a new export market. We conduct an event study on the decision to export to Angola using data on Portuguese firms and workers. We evaluate the impact of the presence of managers with experience in exporting to the Angolan market on a firm's entry success in the aftermath of an exogenous shock: the sudden end of the Angolan civil war. We show that the presence of managers doubles the probability of a firm entering the market. We do not fin...
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作者：Ambuehl, Sandro; Ockenfels, Axel; Stewart, Colin
作者单位：University of Zurich; University of Cologne; Max Planck Society; University of Toronto
摘要：Participation payments are used in many transactions about which people know little but can learn more: incentives for medical trial participation, signing bonuses for job applicants, or price rebates on consumer durables. Who opts into the transaction when given such incentives? We theoretically and experimentally identify a composition effect whereby incentives disproportionately increase participation among those for whom learning is harder. Moreover, these individuals use less information ...
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作者：Li, Yunong; Lu, Yi; Wang, Jianguo
作者单位：Southwestern University of Finance & Economics - China; Tsinghua University; Renmin University of China
摘要：This paper identifies productivity gains from trade by studyingthe manipulation behavior of firms in response to regulatory policies oninternational trade in China. Bunching estimates show that participationin international trade increases firm productivity. The productivity gainsincrease over time, indicating dynamic learning from trading. Further exploration shows no effects on R&D investment, product rationalization,and markup. Young firms and nonstate-owned firms (non-SOEs) gain morefrom p...
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作者：Martinez, Luis R.
作者单位：Emory University
摘要：I compare the impact of local tax revenue and royalties from the extraction of natural resources on governance in Colombian municipalities, leveraging plausibly exogenous variation from cadastral updates and fluctuations in the world price of oil. Higher tax revenue has a larger effect on local public goods in the areas of education, health, and water than a same-sized increase in oil royalties, despite earmarking of royalties for spending in these areas. Higher tax revenue also reduces the pr...
