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作者：Dai, Mian; Tang, Xun
作者单位：Drexel University; Rice University
摘要：This paper studies entry and capacity decisions by dialysis providers in the United States. We estimate a structural model where providers make continuous strategic choices of capacity based on their private information about own costs and knowledge of the distribution of competitors' private information. We evaluate the impact on the market structure and providers' profits under counterfactual regulatory policies that increase the costs or reduce the payment per unit of capacity. We find that...
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作者：Bento, Antonio; Freedman, Matthew; Lang, Corey
作者单位：University of Southern California; National Bureau of Economic Research; Drexel University; University of Rhode Island
摘要：Using geographically disaggregated data and exploiting an instrumental variable strategy, we show that contrary to conventional wisdom, the benefits of the 1990 Clean Air Act Amendments (CAAA) were progressive. The CAAA created incentives for local regulators to target the initially dirtiest areas for cleanup, creating heterogeneity in the incidence of air quality improvements that favored lower-income households. Based on house price appreciation, households in the lowest quintile of the inco...
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作者：Cosar, A. Kerem; Grieco, Paul L. E.; Tintelnot, Felix
作者单位：University of Chicago; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Princeton University
摘要：Using a microlevel data set of wind turbine installations in Denmark and Germany, we estimate a structural oligopoly model with cross-border trade and heterogeneous firms. Our approach separately identifies border-related from distance-related variable costs and bounds the fixed cost of exporting for each firm. In the data, firms' market shares drop precipitously at the border. We find that 40% to 50% of the gap can be attributed to national border costs. Counterfactual analysis indicates that...
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作者：Giannone, Domenico; Lenza, Michele; Primiceri, Giorgio E.
作者单位：Luiss Guido Carli University; Universite Libre de Bruxelles; Centre for Economic Policy Research - UK; European Central Bank; Northwestern University; Centre for Economic Policy Research - UK; National Bureau of Economic Research
摘要：Vector autoregressions (VARs) are flexible time series models that can capture complex dynamic interrelationships among macroeconomic variables. However, their dense parameterization leads to unstable inference and inaccurate out-of-sample forecasts, particularly for models with many variables. A solution to this problem is to use informative priors in order to shrink the richly parameterized unrestricted model toward a parsimonious nave benchmark, and thus reduce estimation uncertainty. This ...
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作者：Borjas, George J.; Doran, Kirk B.
作者单位：Harvard University; University of Notre Dame
摘要：Many economists believe knowledge production generates positive spillovers among knowledge producers. The available evidence, however, is mixed. We argue that spillovers can exist along three dimensions: idea, geographic, and collaboration space. To isolate the key channel through which knowledge spills over, we use a unique data set to examine the impact of a large post-1992 exodus of Soviet mathematicians on the output of the nonemigres. Although the data reveal strong competitive effects in...
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作者：Benigno, Pierpaolo; Ricci, Luca Antonio; Surico, Paolo
作者单位：International Monetary Fund; University of London; London Business School
摘要：This paper presents a new empirical regularity between the volatility of productivity growth and long-run unemployment for a given level of long-run productivity growth. A theoretical framework based on asymmetric real wage rigidities is shown to have the potential to rationalize this finding. The model tends to fit U.S. long-run unemployment better than a specification based on long-run productivity growth only, especially during the Great Moderation and the Great Recession.
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作者：Hainmueller, Jens; Hiscox, Michael J.; Sequeira, Sandra
作者单位：Stanford University; Harvard University; University of London; London School Economics & Political Science
摘要：We provide new evidence on consumer demand for ethical products from experiments conducted in a U.S. grocery store chain. We find that sales of the two most popular coffees rose by almost 10% when they carried a Fair Trade label as compared to a generic placebo label. Demand for the higher-priced coffee remained steady when its price was raised by 8%, but demand for the lower-priced coffee was elastic: a 9% price increase led to a 30% decline in sales. While consumers attach value to ethical s...
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作者：Huber, Martin; Mellace, Giovanni
作者单位：University of Fribourg; University of Southern Denmark
摘要：We derive testable implications of instrument validity in just identified treatment effect models with endogeneity and consider several tests. The identifying assumptions of the local average treatment effect allow us to both point identify and bound the mean potential outcomes of the always takers under treatment and the never takers under nontreatment. The point-identified means must lie within their respective bounds, which provides us with four testable inequality moment constraints. Final...
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作者：Richards, Timothy J.; Hamilton, Stephen F.
作者单位：Arizona State University; Arizona State University-Tempe; California State University System; California Polytechnic State University San Luis Obispo
摘要：We examine variety pass-through effects that occur when multiproduct retailers adjust the length of their product lines in response to changes in wholesale prices. Studying variety pass-through is essential to understanding how wholesale price changes transmit into retail prices when variety is endogenous. Using data from the ready-to-eat breakfast cereal category, we find that retailers jointly adjust retail prices and the length of their product lines in response to changes in wholesale pric...
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作者：Fan, Haichao; Li, Yao Amber; Yeaple, Stephen R.
作者单位：Shanghai University of Finance & Economics; Hong Kong University of Science & Technology; National Bureau of Economic Research; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Leibniz Association; Ifo Institut
摘要：This paper presents theory and evidence from disaggregated Chinese data that tariff reductions induce a country's producers to upgrade the quality of their exports. We first document stylized facts regarding the effect of trade liberalization on export prices. Next, we develop an analytic framework that relates a firm's choice of quality to its access to imported intermediates. In the model, a reduction in import tariffs induces a firm to increase export quality and raise its export price in i...
