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作者：Carrillo-Tudela, Carlos; Gartner, Hermann; Kaas, Leo
作者单位：University of Essex; Goethe University Frankfurt
摘要：Recruitment intensity is important for the matching process in the labor market. Using unique linked survey-administrative data, we investigate the relationships between hiring and recruitment policies at the establishment level. Faster hiring goes along with higher search effort, lower hiring standards, and more generous wages. We develop a directed search model that links these patterns to the employment adjustments of heterogeneous firms. The model provides a novel structural decomposition ...
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作者：Ray, Debraj; Vellodi, Nikhil; Wang, Ruqu
作者单位：New York University; University of Warwick; Paris School of Economics; Zhejiang University; Queens University - Canada
摘要：We study a model of time preference in which both current consumption and the memory of past consumption enter experienced utility-or the felicity-of an individual. An individual derives overall utility from her own felicity and the anticipated felicities of future selves. These postulates permit an agent to anticipate future regret in current decisions, and generate a set of novel testable implications in line with empirical evidence. The model can be applied to disparate phenomena, including...
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作者：Chone, Philippe; Linnemer, Laurent; Verge, Thibaud
作者单位：Institut Polytechnique de Paris; ENSAE Paris
摘要：Double marginalization is a robust phenomenon in procurement under asymmetric information when sophisticated contracts can be implemented. In this context, vertical integration causes merger-specific elimination of double marginalization but biases the make-or-buy decision against independent suppliers. If the buyer has full bargaining power over prices and quantities, a vertical merger benefits final consumers even when it results in the exclusion of efficient suppliers. If on the contrary th...
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作者：Margaris, Panos; Wallenius, Johanna
作者单位：Concordia University - Canada; Stockholm School of Economics
摘要：In this paper, we develop a life cycle model that features pecuniary and non-pecuniary investments in health in order to rationalize the socioeconomic gradients in health and life expectancy in the United States. Agents accumulate health capital, which affects labor productivity, utility, the distribution of medical spending shocks, and life expectancy. We find that unequal health insurance coverage plays a negligible role in generating the observed gaps in health and longevity. Universal heal...
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作者：Maican, Florin G.; Orth, Matilda; Roberts, Mark J.; Vuong, Van Anh
作者单位：University of Gothenburg; Research Institute of Industrial Economics (IFN); Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Maastricht University
摘要：This article estimates a dynamic structural model of firm R&D investment in twelve Swedish manufacturing industries and uses it to measure rates of return to R&D and to simulate the impact of trade restrictions on the investment incentives. Export market profits are a substantial source of the expected return to R&D. R&D spending is found to have a larger impact on firm productivity in the export market than in the domestic market. Counterfactual simulations show that trade restrictions lower ...
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作者：Troya-Martinez, Marta; Wren-Lewis, Liam
作者单位：New Economic School; INRAE
摘要：Relational contracts are typically modeled as being between a principal and an agent, such as a firm owner and a supplier. Yet, in a variety of organizations, relationships are overseen by an intermediary such as a manager. Such arrangements open the door for collusion between the manager and the agent. This paper develops a theory of such managed relational contracts. We show that managed relational contracts differ from principal-agent ones in important ways. First, kickbacks from the agent ...
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作者：Bauer, Michal; Cahlikova, Jana; Celik Katreniak, Dagmara; Chytilova, Julie; Cingl, Lubomir; Zelinsky, Tomas
作者单位：Charles University Prague; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Charles University Prague; University of Bonn; City St Georges, University of London; Czech Academy of Sciences; Prague University of Economics & Business; Technical University Kosice; Durham University
摘要：This paper provides evidence showing that people are more prone to engage in nasty behavior, malevolently causing financial harm to other people at own costs, when they make decisions in a group context rather than when making choices individually on their own. We establish this behavioral regularity in a series of large-scale experiments among university students, adolescents, and nationally representative samples of adults-more than ten thousand subjects in total. We test several potential m...
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作者：Juvenal, Luciana; Monteiro, Paulo Santos
作者单位：International Monetary Fund; University of York - UK
摘要：We consider the canonical trade model with heterogeneous firms, love for variety and trade costs, and integrate it in the consumption CAPM model. This yields a structural gravity equation that includes an additional factor related to risk premia. Empirical evidence based on firm-level data confirms the importance of cross-sectional heterogeneity in risk and time-varying risk premia to shape bilateral trade flows. The structural gravity model augmented to account for fluctuations in risk premia...
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作者：Graeber, Thomas
作者单位：Harvard University
摘要：This paper studies how people infer a state of the world from information structures that include additional, payoff-irrelevant states. For example, learning from a customer review about a product's quality requires accounting for the reviewer's otherwise-irrelevant taste. This creates an attribution problem common to all information structures with multiple causes. We report controlled experimental evidence for pervasive overinference about states that affect utility-a form of omitted variabl...
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作者：de la Croix, David; Docquier, Frederic; Fabre, Alice; Stelter, Robert
作者单位：Universite Catholique Louvain; Centre for Economic Policy Research - UK; University of Luxembourg; Centre National de la Recherche Scientifique (CNRS); Aix-Marseille Universite; University of Basel; Max Planck Society
摘要：We argue that market forces shaped the geographic distribution of upper-tail human capital across Europe during the Middle Ages, and contributed to bolstering universities at the dawn of the Humanistic and Scientific Revolutions. We build a unique database of thousands of scholars from university sources covering all of Europe, construct an index of their ability, and map the academic market in the medieval and early modern periods. We show that scholars tended to concentrate in the best unive...
