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作者：Dai, Mian; Liu, Qihong; Serfes, Konstantinos
作者单位：Drexel University; University of Oklahoma System; University of Oklahoma - Norman
摘要：We investigate the effect of competition on price dispersion in the airline industry. Using panel data from 1993 to 2008, we find a nonmonotonic effect of competition on price dispersion. An increase in competition is associated with greater price dispersion in concentrated markets but with less price dispersion in competitive markets-an inverse-U relationship. Our empirical findings are consistent with an oligopolistic second-degree price discrimination model and encompass contradictory findi...
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作者：Crossley, Thomas F.; Low, Hamish W.
作者单位：Koc University; University of Essex; University of Cambridge
摘要：We use direct evidence on credit constraints to study their importance for household consumption growth and for welfare. We distentangle the direct effect on consumption growth of a currently binding credit constraint from the indirect effect of a potentially binding credit constraint that generates consumption risk. Our data are focused on job losers. We find that less than 5% of job losers experience a binding credit constraint, but those who do experience significant welfare losses, and con...
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作者：Murata, Yasusada; Nakajima, Ryo; Okamoto, Ryosuke; Tamura, Ryuichi
作者单位：Nihon University; Keio University; Hitotsubashi University
摘要：We develop a new distance-based test of localized knowledge spillovers that embeds the concept of control patents. Using microgeographic data, we identify localization distance for each technology class while allowing for spillovers across geographic units. We revisit the debate between Thompson and Fox-Kean (2005a, 2005b) and Henderson, Jaffe, and Trajtenberg (2005) on the existence of localized knowledge spillovers and find solid evidence supporting localization even when using finely graine...
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作者：Black, Sandra E.; Devereux, Paul J.; Loken, Katrine V.; Salvanes, Kjell G.
作者单位：University of Texas System; University of Texas Austin; National Bureau of Economic Research; University College Dublin; Centre for Economic Policy Research - UK; University of Bergen; Norwegian School of Economics (NHH)
摘要：Given the wide use of child care subsidies across countries, it is surprising how little we know about the effect of these subsidies on children's longer-run outcomes. Using a sharp discontinuity in the price of child care in Norway, we are able to isolate the effects of child care subsidies on both parental and student outcomes. We find very small and statistically insignificant effects of child care subsidies on child care utilization and parental labor force participation. Despite this, we ...
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作者：Xiang, Chong
作者单位：Purdue University System; Purdue University
摘要：In this paper, I construct product-level U.S.-manufacturing-imports data for new products. I show that consistent with product cycles, the North's new-products exports to the United States, relative to its old-products exports, grow faster than the South's for over a decade; then the South catches up with the North, and this pattern is reversed. This finding holds up in parametric, nonparametric, and semiparametric estimations, and only when new products are properly identified and old product...
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作者：Tenn, Steven; Wendling, Brett W.
摘要：We use the unique regulatory environment of the pharmaceutical industry to examine how potential competition affects generic drug pricing. Our identification strategy exploits a provision of the Hatch-Waxman Act that awards 180 days of marketing exclusivity to the first valid generic drug applicant against the holder of a branded drug patent. In smaller drug markets, we find that price falls in response to an increase in potential competition. We also find that few manufacturers enter these ma...
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作者：Ductor, Lorenzo; Fafchamps, Marcel; Goyal, Sanjeev; van der Leij, Marco J.
作者单位：Massey University; University of Oxford; University of Oxford; University of Cambridge; University of Cambridge; University of Amsterdam; European Central Bank; De Nederlandsche Bank NV; Tinbergen Institute
摘要：We study how knowledge about the social network of an individual researcher, as embodied in his coauthor relations, helps us in developing a more accurate prediction of his or her future productivity. We find that incorporating information about coauthor networks leads to a modest improvement in the accuracy of forecasts on individual output, over and above what we can predict based on the knowledge of past individual output. Second, we find that the informativeness of networks dissipates over...
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作者：Madeira, Joao
作者单位：University of York - UK
摘要：This paper presents a New Keynesian (NK) model that is extended to differentiate between straight time and overtime work. The model proposes that the New Keynesian Phillips curve (NKPC) should be estimated with marginal cost measured in terms of overtime labor; the resulting coefficient estimates are in accordance with theory and statistically significant for the hybrid NKPC (which allows for backward-looking price setters) but not for the purely forward-looking NKPC. In the hybrid model, back...
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作者：Kantor, Shawn; Whalley, Alexander
作者单位：Rensselaer Polytechnic Institute; National Bureau of Economic Research; University of California System; University of California Merced
摘要：We estimate the local spillovers from research university activity in a sample of urban counties. Our approach uses the interaction between university endowment values and stock market shocks over time for identification. We find statistically significant local spillover effects from university activity. The effects are significantly larger when local universities are more research intensive or local firms are technologically close to universities. Our results suggest that the longer-term effe...
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作者：Bijwaard, Govert E.; Schluter, Christian; Wahba, Jackline
作者单位：Royal Netherlands Academy of Arts & Sciences; Netherlands Interdisciplinary Demographic Institute (NIDI-KNAW); Aix-Marseille Universite; Centre National de la Recherche Scientifique (CNRS); University of Southampton
摘要：Using administrative panel data on the entire population of new labor immigrants to the Netherlands, we estimate the effects of individual labor market spells on immigration durations using the timing-of-events method. The model allows for correlated unobserved heterogeneity across migration, unemployment, and employment processes. We find that unemployment spells increase return probabilities for all immigrant groups, while reemployment spells typically delay returns.
