蝌蚪网

Efficient Pollution Regulation: Getting the Prices Right

By Nicholas Z. Muller and Robert Mendelsohn

蝌蚪网 Review, December 2009

This paper argues for efficient environmental regulations that equate the marginal damage of pollution to marginal abatement costs across space. The paper estimates the source-specific marginal damages of air pollution and calculates the welfare gain f...

Symposium on Econometric Tools

[Symposium: Econometric Tools]

By Alan B. Krueger

Journal of Economic Perspectives, Fall 2001

Tax Reforms and Intertemporal Shifting of Wage Income: Evidence from Danish Monthly Payroll Records

By Claus Thustrup Kreiner, 厂酶谤别苍 Leth-Petersen, and Peer Ebbesen Skov

蝌蚪网 Journal: Economic Policy, August 2016

This paper uses monthly payroll records for all Danish employees to identify widespread intertemporal shifting of labor income in response to a tax reform that significantly reduced the marginal tax rates for one-fourth of all employees. When ignoring shi...

Trends in Aggregate Concentration in the United States

By Lawrence J. White

Journal of Economic Perspectives, Fall 2002

I assemble two rarely used data sets to measure aggregate concentration in the U.S. in the 1980s and 1990s. Despite the merger waves of those decades, aggregate concentration declined in the 1980s and the early 1990s, but rose modestly in the late 1990s. ...

Lessons from Schumpeterian Growth Theory

By Philippe Aghion, Ufuk Akcigit, and Peter Howitt

蝌蚪网 Review, May 2015

By operationalizing the notion of creative destruction, Schumpeterian growth theory generates distinctive predictions on important microeconomic aspects of the growth process (competition, firm dynamics, firm size distribution, cross-firm and cross-sector...

The Impact of Credit on Village Economies

By Joseph P. Kaboski and Robert M. Townsend

蝌蚪网 Journal: Applied Economics, April 2012

This paper evaluates the short- and longer term impact of Thailand's "Million Baht Village Fund" program, among the largest scale government microfinance iniatives in the world, using pre- and post-program panel data and quasi-experimental cross-village v...

Big Banks, Idiosyncratic Volatility, and Systemic Risk

By Ricardo T. Fernholz and Christoffer Koch

蝌蚪网 Review, May 2017

Starting in the 1990s, US bank assets grew more concentrated among a few large institutions. We explore the changing role of idiosyncratic volatility as a shaping force of the bank asset power law distribution. Our results reveal that idiosyncratic asset ...

Who Suffers during Recessions?

[Symposium: Labor Markets and Unemployment]

By Hilary Hoynes, Douglas L. Miller, and Jessamyn Schaller

Journal of Economic Perspectives, Summer 2012

In this paper, we examine how business cycles affect labor market outcomes in the United States. We conduct a detailed analysis of how cycles affect outcomes differentially across persons of differing age, education, race, and gender, and we compare the c...

The Housing Market Impacts of Shale Gas Development

By Lucija Muehlenbachs, Elisheba Spiller, and Christopher Timmins

蝌蚪网 Review, December 2015

Using data from Pennsylvania and an array of empirical techniques to control for confounding factors, we recover hedonic estimates of property value impacts from nearby shale gas development that vary with water source, well productivity, and visibility. ...

Long-Term Neighborhood Effects on Low-Income Families: Evidence from Moving to Opportunity

By Jens Ludwig, Greg J. Duncan, Lisa A. Gennetian, Lawrence F. Katz, Ronald C. Kessler, Jeffrey R. Kling, and Lisa Sanbonmatsu

蝌蚪网 Review, May 2013

We examine long-term neighborhood effects on low-income families using data from the Moving to Opportunity (MTO) randomized housing-mobility experiment. This experiment offered to some public-housing families but not to others the chance to move to less-d...

Retrospectives: How Economists Came to Accept Expected Utility Theory: The Case of Samuelson and Savage

By Ivan Moscati

Journal of Economic Perspectives, Spring 2016

Expected utility theory dominated the economic analysis of individual decision-making under risk from the early 1950s to the 1990. Among the early supporters of the expected utility hypothesis in the von Neumann鈥揗orgenstern version were Milton Friedman ...

Self-Confirming Equilibrium and Model Uncertainty

By Pierpaolo Battigalli, Simone Cerreia-Vioglio, Fabio Maccheroni, and Massimo Marinacci

蝌蚪网 Review, February 2015

We analyze a notion of self-confirming equilibrium with non-neutral ambiguity attitudes that generalizes the traditional concept. We show that the set of equilibria expands as ambiguity aversion increases. The intuition is quite simple: by playing the ...

The Impact of Ethnic Diversity in Bureaucracies: Evidence from the Nigerian Civil Service

By Imran Rasul and Daniel Rogger

蝌蚪网 Review, May 2015

We document the correlation between the workplace diversity in bureaucratic organizations and public service delivery. We do so in the context of Nigeria, where ethnicity is a salient form of self-identity. We thus expand the empirical management literatu...

Learning about Risk and Return: A Simple Model of Bubbles and Crashes

By William A. Branch and George W. Evans

蝌蚪网 Journal: Macroeconomics, July 2011

This paper demonstrates that an asset pricing model with least-squares learning can lead to bubbles and crashes as endogenous responses to the fundamentals driving asset prices. When agents are risk-averse they need to make forecasts of the conditional v...

Networks in the Understanding of Economic Behaviors

[Symposium: Social Networks]

By Matthew O. Jackson

Journal of Economic Perspectives, Fall 2014

As economists endeavor to build better models of human behavior, they cannot ignore that humans are fundamentally a social species with interaction patterns that shape their behaviors. People's opinions, which products they buy, whether they invest in edu...

Institutional Determinants of Labor Reallocation in Transition

[Symposium: Transition Economies]

By Tito Boeri and Katherine Terrell

Journal of Economic Perspectives, Winter 2002

The transition process differed in the countries of the Former Soviet Union (FSU) and those of Central and Eastern Europe (CEE) in terms of reallocation of labor real wage, employment and output adjustment. We sift through the theoretical and empirical li...

The Costs and Consequences of Clean Air Act Regulation of CO2 from Power Plants

By Dallas Burtraw, Josh Linn, Karen Palmer, and Anthony Paul

蝌蚪网 Review, May 2014

US climate policy is unfolding under the Clean Air Act. Mobile source and construction permitting regulations are in place. Most important, EPA and the states will determine the form and stringency of the regulations for power plants. Various approaches w...

Is Tiger Woods Loss Averse? Persistent Bias in the Face of Experience, Competition, and High Stakes

By Devin G. Pope and Maurice E. Schweitzer

蝌蚪网 Review, February 2011

Although experimental studies have documented systematic decision errors, many leading scholars believe that experience, competition, and large stakes will reliably extinguish biases. We test for the presence of a fundamental bias, loss aversion, in a hig...

Price Discrimination and Bargaining: Empirical Evidence from Medical Devices

By Matthew Grennan

蝌蚪网 Review, February 2013

Many important issues in business-to-business markets involve price discrimination and negotiated prices, situations where theoretical predictions are ambiguous. This paper uses new panel data on buyer-supplier transfers and a structural model to empiri...

Sequentially Rationalizable Choice

By Paola Manzini and Marco Mariotti

蝌蚪网 Review, December 2007

A sequentially rationalizable choice function is a choice function that can be retrieved by applying sequentially to each choice problem the same fixed set of asymmetric binary relations (rationales) to remove inferior alternatives. These concepts tran...