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作者：Parenti, Mathieu; Vannoorenberghe, Gonzague
作者单位：INRAE; Paris School of Economics; Universite Libre de Bruxelles; Universite Catholique Louvain
摘要：Which countries should aim for regulatory cooperation, and to what extent should they pursue it? We develop an imperfectly competitive trade model that accounts for differences in technology and regulatory preferences regarding local consumption externalities across countries. Each country sets unique product standards, and firms incur costs when tailoring products to different markets. Trade occurs when the benefits of comparative advantages outweigh the desire for asymmetric regulations. Our...
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作者：Black, Sandra E.; Devereux, Paul J.; Landaud, Fanny; Salvanes, Kjell G.
作者单位：Columbia University; Norwegian School of Economics (NHH); University College Dublin; Centre National de la Recherche Scientifique (CNRS); CY Cergy Paris Universite
摘要：Transfers from parents-either in the form of gifts or inheritances-have received much attention as a source of inequality. This paper uses administrative data for the population of Norway to examine the share of the Total Inflows (defined as the capitalized sum of net labor income, government transfers, and gifts and inheritances received over the period) accounted for by capitalized gifts and inheritances. Consistent with other work, we find that there is much inequality in the receipt of gif...
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作者：Brzustowski, Thomas; Caselli, Francesco
作者单位：University of Essex; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK
摘要：We develop and formalise an equilibrium concept for a dynamic economy in which production takes place in worker cooperatives. The concept rules out allocations of workers to cooperatives in which a worker in one cooperative could move to a different cooperative and make both herself and the existing workers in the receiving cooperative better off. It also rules out allocations in which workers in a cooperative would be made better off by some of the other workers leaving. We also provide a min...
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作者：Halac, Marina
作者单位：Yale University
摘要：A principal contracts with agents to achieve coordination. Multiple equilibria can in general arise under given contract offers, and the principal wishes to maximize her payoff guarantee across equilibrium outcomes. I discuss recent work on contracting for coordination using a simple, unifying framework. The analysis reveals how the principal's concern for strategic uncertainty shapes optimal contracts, with implications for discrimination and inequality between agents. I adapt the framework t...
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作者：Eliaz, Kfir; Galperti, Simone; Spiegler, Ran
作者单位：Tel Aviv University; Utah System of Higher Education; University of Utah; University of California System; University of California San Diego
摘要：We present an equilibrium model of politics in which political platforms compete over public opinion. A platform consists of apolicy, a coalition of social groups with diverse intrinsic attitudes to policies, and a narrative. We conceptualize narratives as subjective models that attribute a commonly valued outcome to (potentially spurious) postulated causes. When quantified against empirical observations, these models generate a shared belief among coalition members over the outcome as a funct...
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作者：Dottling, Robin
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
摘要：How does the zero lower bound on deposit rates (ZLB) affect how banks respond to capital regulation? I study this question in a model in which households value the liquidity services of deposits yet do not accept negative deposit rates. When deposit rates are constrained by the ZLB, tight capital requirements disproportionately hurt franchise values and are therefore less effective in curbing excessive risk taking. The model delivers a novel rationale for interest-dependent capital regulation ...
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作者：Candia, Bernardo; Pedemonte, Mathieu
作者单位：University of California System; University of California Berkeley; Inter-American Development Bank
摘要：Flexible exchange rates can facilitate price adjustments that buffer macroeconomic shocks. We test this hypothesis using adjustments to the gold standard during the Great Depression. Using novel monthly data on city-level economic activity, sectoral employment, and export data, we show that American exporting cities were significantly affected by changes in bilateral exchange rates. We calibrate a general equilibrium model to obtain aggregate effects from cross-sectional estimates. We show tha...
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作者：Angelis, Georgios
作者单位：University of Glasgow
摘要：This paper puts forward a behavioral theory of price setting where managers maximize perceived profits following a process of mental accounting. The theory predicts a pricing rule that is similar to-but crucially different from-that of a standard menu-cost theory: There is an inaction band, but there are two rather than just one target prices, depending on whether the firm updates its price upwards or downwards. The calibrated model replicates two patterns of price microdata that standard menu...
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作者：Hermes, Henning; Lergetporer, Philipp; Peter, Frauke; Wiederhold, Simon
作者单位：Leibniz Association; Ifo Institut; Technical University of Munich; Leibniz Association; Leibniz Institut fur Wirtschaftsforschung Halle (IWH); Martin Luther University Halle Wittenberg
摘要：Why are children with lower socioeconomic status (SES) substantially less likely to be enrolled in child care? We study whether barriers in the application process work against lower-SES children-the group known to benefit strongest from child care enrollment. In an RCT in Germany with highly subsidized child care ($N=607$), we offer treated families information and personal assistance for applications. We find substantial, equity-enhancing effects of the treatment, closing half of the large S...
