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作者：Ciminelli, Gabriele; Duval, Romain; Furceri, Davide
作者单位：International Monetary Fund
摘要：This paper assesses the impact of job protection deregulation on the labor share in a sample of 26 advanced economies during the 1970-2013 period, using a newly constructed dataset of major reforms in this area. We employ a difference-in-differences identification strategy using two identifying assumptions grounded in theory-deregulation has larger effects in industries characterized by (i) a higher natural propensity to regularly adjust the workforce and (ii) a lower elasticity of substitutio...
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作者：Amaral-Garcia, Sofia; Nardotto, Mattia; Propper, Carol; Valletti, Tommaso
作者单位：Universite Libre de Bruxelles; KU Leuven; Centre for Economic Policy Research - UK; Leibniz Association; Ifo Institut; Imperial College London; University of Bristol; University of Rome Tor Vergata
摘要：We study the effect of Internet diffusion on childbirth procedures performed in England between 2000 and 2011. We show that broadband Internet access increased cesarean sections (C-sections): mothers living in areas with better Internet access are 2.5% more likely to obtain a C-section. The effect is driven by first-time mothers who are 6% more likely to obtain a C-section. The increased C-section rate is not accompanied by changes in health care outcomes; thus health care costs increased with...
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作者：Chen, M. Keith; Haggag, Kareem; Pope, Devin G.; Rohla, Ryne
作者单位：University of California System; University of California Los Angeles; Carnegie Mellon University; University of Chicago
摘要：Equal access to voting is a core feature of democratic government. Using data from hundreds of thousands of smartphone users, we quantify a racial disparity in voting wait times across a nationwide sample of polling places during the 2016 U.S. presidential election. Relative to entirely white neighborhoods, residents of entirely black neighborhoods waited 29% longer to vote and were 74% more likely to spend more than thirty minutes at their polling place. This disparity holds when comparing pr...
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作者：Ho, Chun-Yu; Xu, Li; Zhang, Daiqiang
作者单位：State University of New York (SUNY) System; University at Albany, SUNY; Shanghai Jiao Tong University
摘要：We examine price negotiation in the payment card industry by exploiting a unique merchant-, industry-, and city-level data set. Motivated by the substantial variation in acquirer fees and heterogeneous merchant card transactions, we use Nash bargaining to model the negotiation over the acquirer fee between an acquirer and a merchant. We find that the merchants secure a larger incremental surplus than the acquirer on average. Moreover, merchants might face upward pressure on acquirer fees as th...
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作者：Barunik, Jozef; Bevilacqua, Mattia; Tunaru, Radu
作者单位：Czech Academy of Sciences; Institute of Information Theory & Automation of the Czech Academy of Sciences; Charles University Prague; University of London; London School Economics & Political Science; University of Sussex
摘要：This paper introduces forward-looking measures of the network connectedness of fears in the financial system arising due to the good and bad beliefs of market participants about uncertainty that spreads unequally across a network of banks. We argue that this asymmetric network structure extracted from call and put traded option prices of the main U.S. banks contains valuable information for predicting macroeconomic conditions and economic uncertainty, and it can serve as a tool for forward-loo...
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作者：Muehlegger, Erich; Sweeney, Richard L.
作者单位：University of California System; University of California Davis; National Bureau of Economic Research; Boston College
摘要：In imperfectly competitive settings, a firm's price depends on its own costs as well as those of its competitors. We demonstrate that this has important implications for the estimation and interpretation of pass-through. Leveraging a large input cost shock resulting from the fracking boom, we isolate price responses to firm-specific, regional, and industry-wide input cost shocks in the U.S. oil refining industry. The pass-through of these components varies from near zero to full pass-through, ...
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作者：Cacciatore, Matteo; Traum, Nora
作者单位：Universite de Montreal; HEC Montreal; Bank of Canada; National Bureau of Economic Research
摘要：We present novel insights on the role of international trade following unanticipated fiscal changes in a flexible exchange rate environment. We show analytically that fiscal multipliers can be larger in economies more open to trade, even when fiscal expansions imply trade deficits. Three factors determine how trade linkages matter: the relative import share of public and private goods, the financing of government debt, and the currency invoicing of exports. A Bayesian prior-predictive analysis...
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作者：Tobon, Santiago
作者单位：Universidad EAFIT
摘要：I study the effects of prison quality on recidivism using individual-level data from Colombia. To estimate causal effects, I leverage the quasi-random assignment of inmates to newer, less crowded, and higher service prisons. For inmates assigned to newer facilities, I find that the probability of returning to prison within one year is 36% lower. Criminal capital, access to rehabilitation programs, and negative prison experiences, which could trigger changes in intrinsic preferences over illega...
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作者：Shum, Matthew; Xin, Yi
作者单位：California Institute of Technology
摘要：We present evidence consistent with time-varying risk preferences among automobile drivers. Exploiting a unique data set of agents' high-frequency driving behavior collected by a mobile phone application, we show that drivers drive more conservatively following near-miss accidents. In a preferred specification, a near-miss triggers a reduction in driving distance of 12.98 kilometers, in-car cell phone use by more than 100%, and highway use by 43.24%. Structural estimation results indicate that...
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作者：Levin, Dan; Zhang, Luyao
作者单位：University System of Ohio; Ohio State University; Duke Kunshan University
摘要：We introduce NLK, a model that connects the Nash equilibrium (NE) and level-k. It allows a player in a game to believe that her opponent may be either less or as sophisticated as she is, a view supported in psychology. We apply NLK to data from five published papers on static, dynamic, and auction games. NLK provides different predictions from those of the NE and level-k; moreover, a simple version of NLK explains the experimental data better in many cases, with the same or fewer parameters. W...
