-
作者：Bowlus, Audra J.; Robin, Jean-Marc
作者单位：Western University (University of Western Ontario); Institut d'Etudes Politiques Paris (Sciences Po); University of London; University College London
摘要：We compare earnings inequality and mobility across the United States, Canada, France, Germany and the United Kingdom during the late 1990s. A flexible model of earnings dynamics that isolates positional mobility within a stable earnings distribution is estimated. Earnings trajectories are then simulated, and lifetime annuity value distributions are constructed. Earnings mobility and employment risk are found to be positively correlated with base-year inequality. Taken together they produce mor...
-
作者：Chamley, Christophe
作者单位：Boston University; Paris School of Economics
摘要：After 2008, the US personal saving rate had its strongest postwar jump, from 2% to 5%, and the investment ratio its sharpest fall from its postwar average of 16% to its lowest level of 12%. The coordination of saving and investment is analyzed here in a theoretical model of general equilibrium with rational expectations and no forward market. Shocks affect preferences for future consumption. A paradox of thrift is proven that formalizes an argument in the General Theory of Keynes but the equil...
-
作者：Kudamatsu, Masayuki
作者单位：Stockholm University
摘要：Does democracy help babies survive in sub-Saharan Africa? By using retrospective fertility surveys conducted in 28 African countries, I compare the survival of infants born to the same mother before and after democratization to disentangle the effect of democracy from that of changes in population characteristics, which is infeasible with country-level statistics on infant mortality. I find that infant mortality falls by 1.2 percentage points, 12% of the sample mean, after democratization in t...
-
作者：Bianchi, Milo; Buonanno, Paolo; Pinotti, Paolo
作者单位：Universite PSL; Universite Paris-Dauphine; University of Bergamo; Bocconi University
摘要：We examine the empirical relationship between immigration and crime across Italian provinces during the period 19902003. Drawing on police administrative records, we first document that the size of the immigrant population is positively correlated with the incidence of property crimes and with the overall crime rate. Then, we use instrumental variables based on immigration toward destination countries other than Italy to identify the causal impact of exogenous changes in Italys immigrant popul...
-
作者：Oster, Emily; Thornton, Rebecca
作者单位：University of Chicago; University of Michigan System; University of Michigan
摘要：We estimate the role of peer effects in technology adoption using data from a randomized distribution of menstrual cups in Nepal. Using individual randomization, we estimate causal effects of peer exposure on adoption. We find strong evidence of peer effects: two months after distribution, one additional friend with access to the menstrual cup increases usage by 18.6 percentage points. Using the fact that we observe both trial and usage of the product over time, we examine the mechanisms that ...
-
作者：Braun, R. Anton; Nakajima, Tomoyuki
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Atlanta; Kyoto University
摘要：We consider an incomplete markets economy with capital accumulation and endogenous labor supply. Individuals face countercyclical idiosyncratic labor and asset risk. We derive conditions under which the aggregate allocations and price system can be found by solving a representative agent problem. This result is applied to analyze the properties of an optimal monetary policy in a New Keynesian economy with uninsured countercyclical individual risk. The optimal monetary policy that emerges from ...
