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作者：Buera, Francisco J.; Kaboski, Joseph P.
作者单位：University of California System; University of California Los Angeles; University System of Ohio; Ohio State University; Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：Two traditional explanations for structural changes are sector-biased technological progress and non-homothetic preferences. This paper integrates both into an otherwise standard growth model and quantitatively evaluates them vis-a-vis time series. The exercise identifies a set of puzzles for standard theories: (i) the model cannot account for the steep decline in manufacturing and rise in services in the later data; (ii) the standard model requires implausibly low elasticity of substitution a...
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作者：Reis, Ricardo
作者单位：Columbia University
摘要：The properties of the stochastic process followed by aggregate consumption affect the estimates of the costs of fluctuations. This paper pursues two approaches to modeling consumption dynamics and measuring how much society dislikes fluctuations, one statistical and one economic. The statistical approach estimates the properties of consumption and calculates the costs of having consumption fluctuating around its mean growth. The paper finds that persistence is a crucial determinant of the cost...
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作者：Bar, Talia; Basu, Kaushik
作者单位：Cornell University
摘要：The paper uses an overlapping generations model to examine the effects of an increase in a household's land ownership on child labor. Consistent with previous studies, it found that small increases in land lead to increased child labor. However, as land continues to increase child labor declines. Further, even when an increase in land ownership causes an immediate rise in child labor, there are contexts where long-run child labor (that is aggregated over progenies) declines. (JEL: O10, D13, E20)
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作者：Dur, Robert
作者单位：Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Tinbergen Institute
摘要：We develop a model of manager-employee relationships where employees care more for their manager when they are more convinced that their manager cares for them. Managers can signal their altruistic feelings towards their employees in two ways: by offering a generous wage and by giving attention. Contrary to the traditional gift-exchange hypothesis, we show that altruistic managers may offer lower wages and nevertheless build up better social-exchange relationships with their employees than ego...
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作者：Adda, Jerome; Banks, James; von Gaudecker, Hans-Martin
作者单位：University of London; London School Economics & Political Science; University College London; Vrije Universiteit Amsterdam
摘要：We study the effect of permanent income innovations on health for a prime-aged population. Using information on more than half a million individuals sampled over a 25-year period in three different cross-sectional surveys we aggregate data by date-of-birth cohort to construct a synthetic cohort data set with details of income, expenditure, socio-demographic factors, health outcomes, and selected risk factors. We then exploit structural and arguably exogenous changes in cohort incomes over the ...
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作者：Camera, Gabriele; Selcuk, Cemil
作者单位：Purdue University System; Purdue University; DePaul University
摘要：We present a model that generates empirically plausible price distributions in directed search equilibrium. There are many identical buyers and many identical capacity-constrained sellers who post prices. These prices can be renegotiated to some degree and the outcome depends on the number of buyers who want to purchase the good. In equilibrium all sellers post the same price, demand is randomly distributed, and there is sale price dispersion. Prices and distributions depend on market tightnes...
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作者：Doepke, Matthias; Zilibotti, Fabrizio
作者单位：Northwestern University; University of Zurich
摘要：Child labor is a persistent phenomenon in many developing countries. In recent years, support has been growing among rich-country governments and consumer groups for the use of trade policies, such as product boycotts and the imposition of international labor standards, to reduce child labor in poor countries. In this paper, we discuss research on the long-run implications of such policies. In particular, we demonstrate that such measures may have the unintended side effect of lowering domesti...
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作者：Sarno, Lucio; Valente, Giorgio
作者单位：City St Georges, University of London; University of Leicester
摘要：Using novel real-time data on a broad set of economic fundamentals for five major US dollar exchange rates over the recent float, we employ a predictive procedure that allows the relationship between exchange rates and fundamentals to evolve over time in a very general fashion. Our key findings are that: (i) the well-documented weak out-of-sample predictive ability of exchange rate models may be caused by poor performance of model-selection criteria, rather than lack of information content in ...
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作者：van den Berg, Gerard J.; Bergemann, Annette H.; Caliendo, Marco
作者单位：Vrije Universiteit Amsterdam; IZA Institute Labor Economics
摘要：Labor market programs may affect unemployed individuals' behavior before they enroll. Such ex ante effects are hard to identify without model assumptions. We develop a novel method that relates self-reported perceived treatment rates and job-search behavioral outcomes, like the reservation wage, to each other, among newly unemployed workers. Job search theory is used to derive theoretical predictions. To deal with effect heterogeneity and selectivity, the effects of interest are estimated by p...
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作者：Crawford, Vincent P.; Kugler, Tamar; Neeman, Zvika; Pauzner, Ady
作者单位：University of California System; University of California San Diego; University of Arizona; Boston University; Tel Aviv University
摘要：This paper begins to explore behavioral mechanism design, replacing equilibrium by a model based on level-k thinking, which has strong support in experiments. In representative examples, we consider optimal sealed-bid auctions with two symmetric bidders who have independent private values, assuming that the designer knows the distribution of level-k bidders. We show that in a first-price auction, level-k bidding changes the optimal reserve price and often yields expected revenue that exceeds M...
