蝌蚪网

Wage Shocks and North American Labor-Market Integration

By Raymond Robertson

蝌蚪网 Review, September 2000

This study uses household-level data from the United States and Mexico to examine labor-market integration. I consider how the effects of shocks and rates of convergence to an equilibrium differential are affected by borders, geography, and demographics. ...

Fair Shares: Accountability and Cognitive Dissonance in Allocation Decisions

By James Konow

蝌蚪网 Review, September 2000

House Prices, Home Equity-Based Borrowing, and the US Household Leverage Crisis

By Atif Mian and Amir Sufi

蝌蚪网 Review, August 2011

Borrowing against the increase in home equity by existing homeowners was responsible for a significant fraction of the rise in US household leverage from 2002 to 2006 and the increase in defaults from 2006 to 2008. Instrumental variables estimation shows ...

Mismatch Unemployment

By 础测艧别驳眉濒 舰补丑颈苍, Joseph Song, Giorgio Topa, and Giovanni L. Violante

蝌蚪网 Review, November 2014

We develop a framework where mismatch between vacancies and job seekers across sectors translates into higher unemployment by lowering the aggregate job-finding rate. We use this framework to measure the contribution of mismatch to the recent rise in U.S....

Building Routines: Learning, Cooperation, and the Dynamics of Incomplete Relational Contracts

By Sylvain Chassang

蝌蚪网 Review, March 2010

This paper studies how agents with conflicting interests learn to cooperate when the details of cooperation are not common knowledge. It considers a repeated game in which one player has incomplete information about when and how her partner can provide...

Technological Change and the Stock Market

By John Laitner and Dmitriy Stolyarov

蝌蚪网 Review, September 2003

Tobin's average q has usually been well above 1, but fell below 1 during 1974-1984. Our model explains this pattern and reconciles it with unchanging aggregate investment. The stock market value in the numerator of q reflects ownership of physical capital...

Large-Scale Affirmative Action in School Choice: Admissions to IITs in India

By Orhan 础测驳眉苍 and Bertan Turhan

蝌蚪网 Review, May 2017

We provide a real-life application of a large scale affirmative action policy in school choice in the context of engineering school admissions in India where students not only care about what program they are matched to but also what type of seat category...

Money in a Theory of Banking

By Douglas W. Diamond and Raghuram G. Rajan

蝌蚪网 Review, March 2006

We examine the role of banks in the transmission of monetary policy. In economies where banks use real demand deposits to finance their lending, fluctuations in the timing of production can force banks to scramble for real liquidity, or even fail, which c...

Beyond GDP: The Quest for a Measure of Social Welfare

By Marc Fleurbaey

Journal of Economic Literature, December 2009

This paper critically examines the various approaches to the measurement of individual well-being and social welfare that have been considered for the construction of alternatives to GDP. Special attention is devoted to recent developments in the analys...

Sustaining Production Chains through Financial Linkages

By Se-Jik Kim and Hyun Song Shin

蝌蚪网 Review, May 2012

The technological constraints on sustaining production chains have been discussed extensively by development economists, but the role of financial linkages has received less attention. In a model of recursive moral hazard for a manufacturing supply chain,...

Inequality, Lobbying, and Resource Allocation

By Joan Esteban and Debraj Ray

蝌蚪网 Review, March 2006

This paper describes how wealth inequality may distort public resource allocation. A government seeks to allocate limited resources to productive sectors, but sectoral productivity is privately known by agents with vested interests in those sectors. They ...

Veto Constraint in Mechanism Design: Inefficiency with Correlated Types

By Olivier Compte and Philippe Jehiel

蝌蚪网 Journal: Microeconomics, February 2009

We consider bargaining problems in which parties have access to outside options, the size of the pie is commonly known and each party privately knows the realization of her outside option. We allow for correlations in the distributions of outside optio...

The Rise of the Regulatory State

By Edward L. Glaeser and Andrei Shleifer

Journal of Economic Literature, June 2003

The Progressive Era of the early twentieth-century U.S. saw significant growth of government regulation of business. We model the choice of law enforcement strategy between private litigation over accidents, regulation of precautions, a combination of the...

Eight Questions about Corruption

[Symposium: Institutions]

By Jakob Svensson

Journal of Economic Perspectives, Summer 2005

This paper will discuss eight frequently asked questions about public corruption: (1) What is corruption? (2) Which countries are the most corrupt? (3) What are the common characteristics of countries with high corruption? (4) What is the magnitude of cor...

International Business Cycles: World, Region, and Country-Specific Factors

By M. Ayhan Kose, Christopher Otrok, and Charles H. Whiteman

蝌蚪网 Review, September 2003

The paper investigates the common dynamic properties of business-cycle fluctuations across countries, regions, and the world. We employ a Bayesian dynamic latent factor model to estimate common components in macroeconomic aggregates (output, consumption, ...

Narrative Economics

By Robert J. Shiller

蝌蚪网 Review, April 2017

This address considers the epidemiology of narratives relevant to economic fluctuations. The human brain has always been highly tuned toward narratives, whether factual or not, to justify ongoing actions, even such basic actions as spending and investing....

Diamonds Are Forever, Wars Are Not: Is Conflict Bad for Private Firms?

By Massimo Guidolin and Eliana La Ferrara

蝌蚪网 Review, December 2007

This paper studies the relationship between civil war and the value of firms in a poor, resource-abundant country using microeconomic data for Angola. We focus on diamond mining firms and conduct an event study on the sudden end of the conflict, marked ...

The U.S. Demographic Transition

By Jeremy Greenwood and Ananth Seshadri

蝌蚪网 Review, May 2002

Price Regulation of Access to Telecommunications Networks

By Ingo Vogelsang

Journal of Economic Literature, September 2003

Without access of networks to each other, competition in the telecommunications sector would hardly have spread so quickly. Such mutual access is necessary for carriers to provide ubiquitous service and enable end-users to call and be called by anybody wi...

Reputation and School Competition

By W. Bentley MacLeod and Miguel Urquiola

蝌蚪网 Review, November 2015

Stratification is a distinctive feature of competitive education markets that can be explained by a preference for good peers. Learning externalities can lead students to care about the ability of their peers, resulting in across-school sorting by ability...