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作者：Kerr, William R.; Kominers, Scott Duke
作者单位：Harvard University; National Bureau of Economic Research
摘要：We model spatial clusters of similar firms. Our model highlights how agglomerative forces lead to localized, individual connections among firms, while interaction costs generate a defined distance over which attraction forces operate. Overlapping firm interactions yield agglomeration clusters that are much larger than the underlying agglomerative forces themselves. Empirically, we demonstrate that our model's assumptions are present in the structure of technology and labor flows within Silicon...
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作者：Cogley, Timothy; Sargent, Thomas J.
作者单位：New York University
摘要：We measure price-level uncertainty and instability in the United States over the period 1850 to 2012. Major outbreaks of price-level uncertainty and instability occur both before and after World War II, alternating with three price-level moderations: one near the turn of the twentieth century, another under Bretton Woods, and a third in the 1990s. There is no evidence that the price level was systematically more stable or less uncertain before or after World War II. Moderations sometimes invol...
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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...
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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...
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作者：Lacetera, Nicola; Sydnor, Justin
作者单位：University of Toronto; University of Wisconsin System; University of Wisconsin Madison
摘要：Are location-specific factors important for understanding firms' heterogeneities? We examine prices and quality metrics for Japanese cars at wholesale auctions, comparing otherwise identical cars assembled in the United States versus Japan. We find similar values regardless of country of assembly. These results indicate that Japanese automakers in general have successfully transferred their practices to their U.S. transplants and that there is no inherent limitation to high-quality automobile ...
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作者：Blanchard, Emily; Matschke, Xenia
作者单位：Dartmouth College; Universitat Trier
摘要：We combine firm-level panel data on U.S. foreign affiliate activity with detailed measures of U.S. trade policy to study the relationship between offshoring and preferential market access. Consistent with theory, we find that trade preferences and offshoring activity are positively and significantly correlated. Using instrumental variables, we estimate that a 10% increase in U.S. foreign affiliate exports to the United States is associated with a 4 percentage point increase in the rate of pref...
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作者：Cook, C. Justin
作者单位：University of California System; University of California Merced
摘要：This paper empirically tests the association between genetically determined resistance to infectious disease and cross-country health differences. A country-level measure of genetic diversity for the system of genes associated with the recognition and disposal of foreign pathogens is constructed. Genetic diversity within this system has been shown to reduce the virulence and prevalence of infectious diseases and is hypothesized to have been naturally selected from historical exposure to infect...
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作者：Figlio, David N.; Schapiro, Morton O.; Soter, Kevin B.
作者单位：Northwestern University; National Bureau of Economic Research
摘要：This study makes use of detailed student-level data from eight cohorts of first-year students at Northwestern University to investigate the relative effects of tenure track/tenured versus contingent faculty on student learning. We focus on classes taken during a student's first term at Northwestern and employ an identification strategy in which we control for both student-level fixed effects and next-class-taken fixed effects to measure the degree to which contingent faculty contribute more or...
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作者：Bernard, Andrew B.; Grazzi, Marco; Tomasi, Chiara
作者单位：National Bureau of Economic Research; University of Bologna; University of Trento
摘要：This paper examines the factors that give rise to intermediaries in exporting and explores the implications for trade volumes. Export intermediaries such as wholesalers serve different markets and export different products than manufacturing exporters do. Wholesalers are more prevalent in markets with higher destination-specific fixed costs and focus on products that are less differentiated, have lower contract intensity, and have large sunk entry costs. Aggregate exports to destinations with ...
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作者：Aron-Dine, Aviva; Einav, Liran; Finkelstein, Amy; Cullen, Mark
作者单位：Stanford University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT)
摘要：Using data from employer-provided health insurance and Medicare Part D, we investigate whether health care utilization responds to the dynamic incentives created by the nonlinear nature of health insurance contracts. We exploit the fact that because annual coverage usually resets every January, individuals who join a plan later in the year face the same initial (spot) price of health care but a higher expected end-of-year (future) price. We find a statistically significant response of initial ...
