-
作者：Bottan, Nicolas L.; Perez-Truglia, Ricardo
作者单位：Cornell University; University of California System; University of California Berkeley
摘要：Do individuals care about their relative income? While this is a long-standing hypothesis, revealed-preference evidence remains elusive. We provide a unique test by studying residential choices: individuals often must choose between places with different income distributions, and as a result they choose their relative income. We conducted a field experiment with 1,080 senior medical students who participated in the National Resident Matching Program. We estimate their preferences by combining ...
-
作者：Druedahl, Jeppe; Martinello, Alessandro
作者单位：University of Copenhagen
摘要：We exploit inheritance episodes to provide novel causal evidence on the long-run effects of a large financial windfall on saving behavior. For identification, we combine a longitudinal panel of administrative wealth reports with variation in the timing of sudden, unexpected parental deaths. We show that after inheritance, net worth converges toward the path established before parental death, with only one-third of the initial windfall remaining after nine years. We interpret these findings thr...
-
作者：Wilson, Riley
作者单位：Brigham Young University
摘要：Using the Social Connectedness Index (Bailey, Cao, Kuchler, Stroebel et al., 2018) to capture county-to-county Facebook linkages, I explore how county-level earned income tax credit (EITC) claiming behavior changes when the county's out-of-state social network is exposed to a newly implemented state EITC. Having more out-of-state friends face a state EITC shifts the composition of EITC claims toward more self-employment claiming. EITC-claiming households' income distribution also shifts, movin...
-
作者：Gelman, Michael
作者单位：Claremont Colleges; Claremont McKenna College; Claremont Graduate University
摘要：Many studies have shown that consumption responds to the arrival of predictable income (excess sensitivity). This paper uses a buffer stock model of consumption to understand what causes excess sensitivity and to test which parameterization is consistent with empirical excess sensitivity estimates. Using high-frequency granular data from a personal finance app, I find that while liquidity constraints are a proximate cause, preferences are the ultimate cause of excess sensitivity. Furthermore, ...
-
作者：Monarch, Ryan
作者单位：Syracuse University
摘要：Costs from switching suppliers can affect prices by discouraging buyer movements from high- to low-cost sellers. This paper uses confidential data on U.S. importers and their Chinese exporters to investigate these costs. I find barriers to supplier adjustments: nearly half of importers keep their partner over time. Importers switch less if their supplier offers higher quality or provides lower prices. I propose and structurally estimate a dynamic discrete choice model to compute switching cost...
-
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 Surrey
摘要：Berkson errors are commonplace in empirical microeconomics. In consumer demand, this form of measurement error occurs when the price an individual pays is measured by the (weighted) average price paid by individuals in a group (e.g., a county) rather than the true transaction price. We show the importance of Berkson errors for demand estimation with nonseparable unobserved heterogeneity. We develop a consistent estimator using external information on the true price distribution. Examining gaso...
-
作者：Cortes, Kristle R.; Glover, Andrew; Tasci, Murat
作者单位：University of New South Wales Sydney; Federal Reserve System - USA; Federal Reserve Bank - Kansas City; Federal Reserve System - USA; Federal Reserve Bank - Cleveland
摘要：Over the past fifteen years, eleven states have restricted employers' access to the credit reports of job applicants. We estimate that county-level job vacancies have fallen by 5.5% in occupations affected by these laws relative to exempt occupations in the same counties and national-level vacancies for the same occupations. Cross-sectional heterogeneity suggests that employers use credit reports as signals of a worker's ability to perform the job: vacancies fall more in counties with a large ...
-
作者：Renkin, Tobias; Montialoux, Claire; Siegenthaler, Michael
作者单位：University of California System; University of California Berkeley; Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：This paper estimates the pass-through of minimum wage increases into the prices of U.S. grocery and drug stores. We use high-frequency scanner data and leverage a large number of state-level increases in minimum wages between 2001 and 2012. We find that a 10% minimum wage hike translates into a 0.36% increase in the prices of grocery products. This magnitude is consistent with a full pass-through of cost increases into consumer prices. We show that price adjustments occur mostly in the three m...
-
作者：Thompson, Owen
作者单位：Williams College
摘要：Before the racial integration of schools in the southern United States, predominantly African American schools were staffed almost exclusively by African American teachers as well, and teaching constituted an extraordinarily large share of professional employment among southern Blacks. The large-scale desegregation of southern schools that occurred after passage of the 1964 Civil Rights Act represented a potential threat to this employment base, and this paper estimates how student integration...
-
作者：Cappelen, Alexander W.; Fest, Sebastian; Sorensen, Erik O.; Tungodden, Bertil
作者单位：Norwegian School of Economics (NHH)
摘要：The principle that people should be held personally responsible for the consequences of their choices is a fundamental moral ideal in Western societies. We report from a large-scale experimental study of how far-reaching this principle is for inequality acceptance. We show that third-party spectators violate minimal conditions for a morally relevant choice when making redistributive decisions for two workers. They accept more inequality when the workers have made nominal and forced choices tha...
