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作者：Gorodnichenko, Yuriy; Sheremirov, Viacheslav; Talavera, Oleksandr
作者单位：University of California System; University of California Berkeley; Federal Reserve System - USA; Federal Reserve Bank - Boston; Swansea University; National Bureau of Economic Research
摘要：Using a unique dataset of daily US and UK price listings and the associated number of clicks for precisely defined goods from a major shopping platform, we shed new light on how prices are set in online markets, which have a number of special properties such as low search costs, low costs of monitoring competitors' prices, and low costs of nominal price adjustment. We document that although online prices change more frequently than offline prices, they nevertheless exhibit relatively long spel...
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作者：Boneva, Teodora; Rauh, Christopher
作者单位：University of London; University College London; Universite de Montreal
摘要：In this paper, we study parental beliefs about the returns to parental investments made during different periods of childhood. Using two independent samples, we document that parents perceive the returns to different late investments to be higher than the returns to early investments, and that they perceive investments in different time periods as substitutes rather than complements. We show that parental beliefs about the returns to investments vary substantially across the population and tha...
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作者：Felbermayr, Gabriel; Impullitti, Giammario; Prat, Julien
作者单位：Leibniz Association; Ifo Institut; University of Munich; University of Nottingham; Centre National de la Recherche Scientifique (CNRS); Institut Polytechnique de Paris; ENSAE Paris; Barcelona School of Economics; Consejo Superior de Investigaciones Cientificas (CSIC); CSIC - Institut d'Analisi Economica (IAE)
摘要：Wage inequality between similar workers has been on the rise in many rich countries. Recent empirical research suggests that heterogeneity in firm characteristics is crucial to understand wage dispersion. Lower trade costs as well as labor and product market reforms are considered critical drivers of inequality dynamics. We ask how these factors affect wage dispersion and how much of their effect on inequality is attributable to changes in wage dispersion between and within firms. To tackle th...
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作者：de Quidt, Jonathan
作者单位：Stockholm University
摘要：As predicted by loss aversion, numerous studies find that penalties elicit greater effort than bonuses, even when the underlying payoffs are identical. However, loss aversion also predicts that workers will demand higher wages to accept penalty contracts. In six experiments I recruited workers online under framed incentive contracts to test the second prediction. None find evidence for the predicted distaste for penalty contracts. In four experiments penalty framing actually increased the job ...
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作者：Janssen, Simon
摘要：This paper uses administrative data to study the relationship between the decentralization of wage bargaining systems and the costs of worker displacement. Specifically, the paper exploits a major reform of the wage bargaining system in the Danish manufacturing sector, a reform that changed the wage-setting process from a highly centralized bargaining system at the national level to a decentralized system with a strong emphasis on firm-level wage bargaining. The results show that under the cen...
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作者：Cunha, Alexandre B.; Ornelas, Emanuel
作者单位：Universidade Federal do Rio de Janeiro
摘要：We study the desirability of limits on the public debt and of political turnover in an economy where incumbents have an incentive to set public expenditures above the socially optimal level due to rent-seeking motives. Parties alternate in office and cannot commit to future policies, but they can forge a political compromise where each party curbs excessive spending when in office if it expects future governments to do the same. In contrast to the received literature, we find that strict limit...
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作者：Berlingieri, Giuseppe; Breinlich, Holger; Dhingra, Swati
作者单位：ESSEC Business School; University of Surrey; University of London; London School Economics & Political Science
摘要：This paper estimates the consumer welfare impact of the new generation of trade agreements implemented by the European Union between 1993 and 2013. We decompose the overall effect into contributions of changes in prices, quality and variety. Estimating trade elasticities for narrow product categories of EU imports, we infer quality from data on imported values and volumes. For the EU as a whole, we find that trade agreements increased quality by 7% on average but did not affect prices or varie...
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作者：Ager, Philipp; Hansen, Casper Worm; Jensen, Peter Sandholt
作者单位：University of Southern Denmark; University of Copenhagen
摘要：The smallpox vaccination method was the paramount medical innovation of the late 18th and early 19th centuries. We exploit the introduction of the smallpox vaccine in Sweden to identify the causal effect of early-life mortality on fertility. Our analysis shows that parishes in counties with higher levels of smallpox mortality prior to the introduction of vaccination experienced greater declines in infant mortality afterward. Exploiting this finding in an instrumental-variable approach reveals ...
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作者：Larreguy, Horacio A.; Marshall, John; Snyder, James M., Jr.
作者单位：Harvard University; Columbia University
摘要：We examine how campaign advertising affects electoral support. We propose a simple model where advertising disproportionately benefits non-dominant political parties, because voters are uncertain about and biased against such parties. We test this argument in Mexico, where one of the three main parties dominates in many localities. To identify the effects of exposure to campaign advertising, we exploit differences across neighboring precincts in campaign ad distribution. These differences orig...
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作者：Galiani, Sebastian; Gertler, Paul J.; Undurraga, Raimundo
作者单位：University System of Maryland; University of Maryland College Park; University of California System; University of California Berkeley; Universidad de Chile
摘要：Subjective well-being may not improve in step with increases in material well-being due to hedonic adaptation, a psychological process that attenuates the long-term emotional impact of a favorable or unfavorable change in circumstances. As a result, people's degree of happiness eventually returns to a stable reference level. We use a multicountry field experiment to examine the impact on subjective measures of well-being of the provision of improved housing to extremely poor populations in ord...
