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作者：Marinacci, Massimo
作者单位：Bocconi University; Bocconi University
摘要：We study decision problems inwhich consequences of the various alternative actions depend on states determined by a generative mechanism representing some natural or social phenomenon. Model uncertainty arises because decision makers may not know this mechanism. Two types of uncertainty result, a state uncertainty within models and a model uncertainty across them. We discuss some two-stage static decision criteria proposed in the literature that address state uncertainty in the first stage and...
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作者：Havranek, Tomas
作者单位：Czech National Bank; Charles University Prague
摘要：I examine 2,735 estimates of the elasticity of intertemporal substitution in consumption (EIS) reported in 169 published studies. The literature shows strong selective reporting: researchers discard negative and insignificant estimates too often, which pulls the mean estimate up by about 0.5. The reporting bias dwarfs the effects of methods, with the exception of the choice between micro and macro data. When I correct the mean for the bias, for macro estimates I get zero, even though the repor...
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作者：Gautier, Pieter A.; Teulings, Coen N.
作者单位：Vrije Universiteit Amsterdam; Tinbergen Institute; University of Cambridge; University of Amsterdam; Tinbergen Institute
摘要：We analyze a general search model with on-the-job search (OJS) and sorting of heterogeneous workers into heterogeneous jobs. For given values of nonmarket time, the relative efficiency of OJS, and the amount of search frictions, we derive a simple relationship between the unemployment rate, mismatch, and wage dispersion. We estimate the latter two from standard micro data. Our methodology accounts for measurement error, which is crucial to distinguish true from spurious mismatch and wage dispe...
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作者：Attanasio, Orazio P.
作者单位：University of London; University College London; University of London; London School Economics & Political Science
摘要：In this paper, I discuss a research agenda on the study of human capital accumulation in the early years, with a particular focus on developing countries. I discuss several methodological issues, from the use of structural models, to the importance of measurement and the development of new measurement tools. I present a conceptual framework that can be used to frame the study of human capital accumulation and view the current challenges and gaps in knowledge within such an organizing structure...
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作者：Bacchetta, Philippe; Benhima, Kenza
作者单位：University of Lausanne; Swiss Finance Institute (SFI)
摘要：The recent period of capital outflows from emerging economies has coincided with an increase in their corporate saving. In this paper, we model corporate saving as a demand for liquid assets by credit-constrained firms in a dynamic open-economy macroeconomic model. We find that the implications of this model are very different from standard models, because the demand for foreign bonds is a complement to domestic investment rather than a substitute. We show that this complementarity is at work ...
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作者：Segerstrom, Paul S.; Sugita, Yoichi
作者单位：Stockholm School of Economics
摘要：An empirical finding by Trefler (2004, The Long and Short of the Canada-U.S. Free Trade Agreement, American Economic Review, 94(4), 870-895) and others that industrial productivity increases more strongly in liberalized industries than in nonliberalized industries has been widely accepted as evidence for theMelitz (2003, The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity, Econometrica, 71, 1695-1725) model. We show that under fairly standard assumptions a m...
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作者：Einav, Liran; Levin, Jonathan
作者单位：Stanford University
摘要：Rising healthcare costs have sparked debate about the best way to provide high-quality affordable health insurance. We discuss the potential for regulated insurancemarkets to outperform single-payer public insurance. We use as an example the private Medicare plans that now provide insurance to almost a third of seniors in the United States. The evidence suggests that private plans can limit costs and potentially appeal to enrollees, and that well-designed risk adjustment can mitigate market fa...
