-
作者：Decreuse, Bruno; Zylberberg, Andre
作者单位：Aix-Marseille Universite; heSam Universite; Universite Pantheon-Sorbonne
摘要：We propose a search equilibrium model in which homogeneous firms post wages along with a vacancy to attract job seekers while homogeneous unemployed workers invest in costly job seeking. The key innovation relies on the organization of the search market and the search behavior of the job seekers. The search market is continuously segmented by wage level, individuals can spread their search investment over the different submarkets, and search intensity has marginal decreasing returns in each su...
-
作者：Chiappori, Pierre-Andre; Paiella, Monica
作者单位：Columbia University; University of Naples Federico II
摘要：Most classical tests of constant relative risk aversion (CRRA) based on individual portfolio composition use cross-sectional data. Such tests must assume that the distributions of wealth and preferences are independent. We use panel data to analyze how individuals portfolio allocation between risky and riskless assets varies in response to changes in total financial wealth. We find the elasticity of the risky asset share to wealth to be small and statistically insignificant, supporting the CRR...
-
作者：Genakos, Christos; Valletti, Tommaso
作者单位：Athens University of Economics & Business; Imperial College London; University of Rome Tor Vergata
摘要：This paper examines the impact of regulatory intervention to cut termination rates of calls from fixed lines to mobile phones. Under quite general conditions of competition, theory suggests that lower termination charges will result in higher prices for mobile subscribers, a phenomenon known as the waterbed effect. The waterbed effect has long been hypothesized as a feature of many two-sided markets and especially the mobile telephony industry. Using a uniquely constructed panel of mobile oper...
-
作者：Brou, Daniel; Ruta, Michele
作者单位：Western University (University of Western Ontario)
摘要：We study the effects of economic and political integration by presenting a model in which firms compete with each other in both an economic marketwhere they produce a good and compete for market shareand in a political (rent seeking) marketwhere they compete for transfers from the government. Growth is driven by firms cost-reducing innovation activity and economic and political integration affect firms incentive to innovate differently. In this setting, economic and political integration can b...
-
作者：Janssens, Wendy
作者单位：Vrije Universiteit Amsterdam
摘要：Impact evaluations of development programs usually do not explicitly take into account externalities on non-participants. Based on a unique dataset we estimate the direct as well as the spillover effects of Mahila Samakhya, a women's empowerment program in India, on child immunization. The survey covers both participants and non-participants in program villages, as well as respondents in control villages. We account for participation selection bias using instrumental variables. We propose a di...
