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作者：Knoepfle, Daniel T.; Wang, Joseph Tao-yi; Camerer, Colin F.
作者单位：Stanford University; National Taiwan University; California Institute of Technology
摘要：We report results from an exploratory study using eye-tracking recording of information acquisition by players in a game theoretic learning paradigm. Eye-tracking is used to observe what information subjects look at in 4x4 normal-form games; the eye-tracking results favor sophisticated learning over adaptive learning and lend support to anticipatory or sophisticated models of learning in which subjects look at payoffs of other players to anticipate what those players might do. The decision dat...
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作者：Martins, Nuno; Villanueva, Ernesto
摘要：Young adults leave their parents' homes at a higher rate in Northern Europe or in the United States than in Southern Europe, with broad implications on labor market mobility and on fertility. We assess if differences in household formation are associated to differences in access to credit by estimating the impact of the cost of a mortgage on the probability that a young adult leaves his or her parents' home. Exogenous changes in the cost of credit are identified using the reform in 1998 and th...
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作者：Canova, Fabio
作者单位：Pompeu Fabra University
摘要：This paper investigates what has caused output and inflation volatility to fall in the U. S. using a small scale structural model using Bayesian techniques and rolling samples. There are instabilities in the posterior of the parameters describing the private sector, the policy rule, and the variance of the shocks. Results are robust to the specification of the policy rule. Changes in the parameters describing the private sector are the largest, but those of the policy rule and the covariance m...
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作者：Borghans, Lex; Heckman, James J.; Golsteyn, Bart H. H.; Meijers, Huub
作者单位：Maastricht University; University of Chicago
摘要：This paper demonstrates gender differences in risk aversion and ambiguity aversion. It also contributes to a growing literature relating economic preference parameters to psychological measures by asking whether variations in preference parameters among persons, and in particular across genders, can be accounted for by differences in personality traits and traits of cognition. Women are more risk-averse than men. Over an initial range, women require no further compensation for the introduction...
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作者：Cunha, Flavio; Heckman, James J.
作者单位：University of Pennsylvania; University of Chicago; University College Dublin
摘要：Recent research on the economics of human development deepens understanding of the origins of inequality and excellence. It draws on and contributes to personality psychology and the psychology of human development. Inequalities in family environments and investments in children are substantial. They causally affect the development of capabilities. Both cognitive and noncognitive capabilities determine success in life but to varying degrees for different outcomes. An empirically determined tec...
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作者：Qian, Nancy; Yanagizawa, David
作者单位：Brown University; Stockholm University
摘要：This paper uses a country-level panel data set to test the hypothesis that the United States biases its human rights reports of countries based on the latters' strategic value. We use the difference between the U. S. State Department's and Amnesty International's reports as a measure of U. S. bias. For plausibly exogenous variation in strategic value to the U. S., we compare this bias between U. S. Cold War (CW) allies to non-CW allies, before and after the CW ended. The results show that ally...
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作者：Stiroh, Kevin J.
摘要：This paper examines the declining volatility of U. S. output growth from a production perspective. At the aggregate level, increased output stability reflects decreased volatility in both labor productivity growth and hours growth, as well as a significant decline in the covariance. The decline in output volatility can also be traced to less volatile labor input and total factor productivity growth and the smaller covariance between them. At the industry level, the decline in volatility appear...
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作者：Norback, Pehr-Johan; Persson, Lars
摘要：We construct a model where incumbents can either acquire basic innovations from entrepreneurs, or wait and acquire developed innovations from entrepreneurial firms supported by venture capitalists. We show that venture-backed entrepreneurial firms have an incentive to overinvest in development vis vis incumbents due to strategic product market effects on the sales price of a developed innovation. This will trigger preemptive acquisitions by incumbents, thus increasing the reward for entreprene...
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作者：Laubach, Thomas
作者单位：Goethe University Frankfurt
摘要：Estimating the effects of government debt and deficits on Treasury yields is complicated by the need to isolate the effects of fiscal policy from other influences. To control for the effects of the business cycle, and associated monetary policy actions, on debt, deficits, and interest rates, this paper studies the relationship between long-horizon forward rates and future federal government deficits and debt as projected by the Congressional Budget Office. For the entire 30-year sample for whi...
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作者：Biais, Bruno; Mariotti, Thomas
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Centre National de la Recherche Scientifique (CNRS)
摘要：We analyze how bankruptcy laws affect the general equilibrium interactions between credit and wages. Soft laws reduce the frequency of liquidations and thus ex post inefficiencies, but they worsen credit rationing ex ante. This hinders firm creation and thus depresses labor demand. Rich agents who need few outside funds can invest even if creditor rights are weak. Hence, they favor soft laws that exclude poorer agents from the credit market and reduce the competition for labor. Such laws can g...
