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作者：Michaels, Guy; Natraj, Ashwini; Van Reenen, John
作者单位：University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; University of London; London School Economics & Political Science; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK
摘要：We test the hypothesis that information and communication technologies (ICT) polarize labor markets by increasing demand for the highly educated at the expense of the middle educated, with little effect on low-educated workers. Using data on the United States, Japan, and nine European countries from 1980 to 2004, we find that industries with faster ICT growth shifted demand from middle-educated workers to highly educated workers, consistent with ICT-based polarization. Trade openness is also a...
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作者：Creal, Drew; Schwaab, Bernd; Koopman, Siem Jan; Lucas, Andre
作者单位：University of Chicago; European Central Bank; Vrije Universiteit Amsterdam; Tinbergen Institute
摘要：We propose an observation-driven dynamic factor model for mixed-measurement and mixed-frequency panel data. Time series observations may come from a range of families of distributions, be observed at different frequencies, have missing observations, and exhibit common dynamics and cross-sectional dependence due to shared dynamic latent factors. A feature of our model is that the likelihood function is known in closed form. This enables parameter estimation using standard maximum likelihood met...
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作者：Francis, Neville; Owyang, Michael T.; Roush, Jennifer E.; DiCecio, Riccardo
作者单位：University of North Carolina; University of North Carolina Chapel Hill; Federal Reserve System - USA; Federal Reserve Bank - St. Louis; Federal Reserve System - USA
摘要：Recent studies using long-run restrictions question the validity of the technology-driven real business cycle hypothesis. We propose an alternative identification that maximizes the contribution of technology shocks to the forecast-error variance of labor productivity at a long but finite horizon. In small-sample Monte Carlo experiments, our identification outperforms standard long-run restrictions by significantly reducing the bias in the short-run impulse responses and raising their estimati...
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作者：Matsudaira, Jordan D.
作者单位：Cornell University
摘要：This paper provides direct evidence on the extent of monopsony power in the low-wage labor market by estimating the firm-level elasticity of labor supply for nurse aides in the long-term care (nursing home) industry. Using exogenous variation in hiring induced by the passage of a state minimum nurse staffing law, I find that facilities initially out of compliance with the new law did not have to raise their wage offers relative to their competitors in order to hire more nurses. While this is c...
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作者：Voigtlaender, Nico
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research
摘要：This paper presents a novel stylized fact and analyzes its contribution to the skill bias of technical change in U. S. manufacturing. The share of skilled labor embedded in intermediate inputs correlates strongly with the skill share employed in final production. This finding points toward an intersectoral technology-skill complementarity (ITSC). Together with input-output linkages, the observed complementarity delivers a multiplier that reinforces skill demand along the production chain. Redu...
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作者：Xiao, Junji; Ju, Heng
作者单位：Fudan University; Shanghai University of Finance & Economics
摘要：This paper explores the effects of consumption-tax and fuel-tax adjustments in the Chinese automobile industry. Applying the model and simulation method of Berry, Levinson, and Pakes (1995), we conduct a comparative static analysis of equilibrium prices and sales, fuel consumption, and social welfare before and after tax adjustments. For the first time, we compare the progressivity of both taxes. Our empirical findings suggest that the fuel tax is effective in decreasing fuel consumption at th...
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作者：Jiang, Wei; Nelson, Ashlyn Aiko; Vytlacil, Edward
作者单位：Columbia University; Indiana University System; Indiana University Bloomington; New York University
摘要：This paper presents an analysis of mortgage delinquency between 2004 and 2008 using a loan-level data set from a major national mortgage bank. Our analysis highlights two problems underlying the mortgage crisis: a reliance on mortgage brokers who tend to originate lower-quality loans and a prevalence of low-documentation loans-known in the industry as liar's loans''-that result in borrower information falsification. While over three-quarters of the difference in delinquency rates between bank ...
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作者：Asphjell, Magne K.; Letterie, Wilko; Nilsen, Oivind A.; Pfann, Gerard A.
作者单位：Norwegian School of Economics (NHH); Maastricht University
摘要：Firms may adjust capital and labor sequentially or simultaneously. In this paper, we develop a structural model of interrelated factor demand subject to nonconvex adjustment costs and estimated by simulated method of moments. Based on Norwegian manufacturing industry plant-level data, parameter estimates reveal cost advantages for adjusting capital and making net changes in labor simultaneously. Factor demand models with fully specified interrelated adjustment costs structures perform best to ...
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作者：Mansour, Hani; McKinnish, Terra
作者单位：University of Colorado System; University of Colorado Anschutz Medical Campus; University of Colorado Denver; Children's Hospital Colorado; IZA Institute Labor Economics; University of Colorado System; University of Colorado Boulder
摘要：In direct contrast to conventional wisdom and most economic models of marital age gaps, we present robust evidence that men and women who are married to differently aged spouses are negatively selected. Empirical results show lower cognitive ability, lower educational attainment, lower occupational wages, lower earnings, and less attractive appearance among those married to a differently aged spouse. These results, obtained using samples of first marriages and controlling for age of marriage, ...
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作者：Dinkelman, Taryn; Claudia Martinez, A.
作者单位：Dartmouth College; Center for Economic & Policy Research (CEPR); Universidad de Chile
摘要：We investigate the impacts of providing low-income Chilean adolescents with information about how to finance higher education and ask whether providing parents with the same information magnifies the effects on schooling outcomes. We randomly assigned eighth graders and some parents to receive information about aid for higher education. Exposure to information raised college preparatory high school enrollment, primary school attendance, and financial aid knowledge, with gains concentrated amon...
