-
作者：Petrin, Amil; Levinsohn, James
作者单位：National Bureau of Economic Research; Yale University
摘要：We define aggregate productivity growth (APG) as the change in aggregate final demand minus the change in the aggregate expenditures on labor and capital. We show how to aggregate plant-level data to this quantity and how to decompose APG into technical efficiency and reallocation components. This requires us to confront the non-neoclassical features that impact plant-level data, including plant-level heterogeneity, the entry and exit of goods, adjustment costs, fixed and sunk costs, and marke...
-
作者：Saini, Viplav
作者单位：University System of Ohio; Oberlin College
摘要：We show how to numerically solve for a Markov-perfect equilibrium of a dynamic auction game where a procurer repeatedly purchases construction services from capacity-constrained firms. We find that the procurer is best off scheduling frequent auctions for small project sizes. Otherwise, firm capacity utilization rates become larger and more asymmetric, which softens competition and increases procurement costs. We also find that forward-looking bidding dampens the competition-softening effects ...
-
作者：Wright, Julian
作者单位：National University of Singapore
摘要：I formalize the popular argument that retailers pay too much and cardholders too little to make use of payment card platforms, resulting in excessive use of cards. To do this, I analyze a standard two-sided market model of a payment card platform. With minimal additional restrictions, the model implies that the privately set fee structure is unambiguously biased against retailers in favor of cardholders, a result that continues to hold even if the platform can perfectly price discriminate on b...
