蝌蚪网

Substitution Effects in Intertemporal Problems

By Davide Dragone and Paolo Vanin

蝌蚪网 Journal: Microeconomics, August 2022

We consider a broad class of intertemporal economic problems and characterize the short-run and long-run responses of the demand for a good to a permanent increase in its market price. Depending on the interplay between self-productivity and time discount...

Contract Duration and the Costs of Market Transactions

By Alexander MacKay

蝌蚪网 Journal: Microeconomics, August 2022

The optimal duration of a supply contract balances the costs of re-selecting a supplier against the costs of being matched to an inefficient supplier when the contract lasts too long. I develop a structural model of contract duration that captures this tr...

Stability of Experimental Results: Forecasts and Evidence

By Stefano DellaVigna and Devin Pope

蝌蚪网 Journal: Microeconomics, August 2022

How robust are experimental results to changes in design? And can researchers anticipate which changes matter most? We consider a real-effort task with multiple behavioral treatments and examine the stability along six dimensions: (i) pure replication, (i...

Attention Oligopoly

By Andrea Prat and Tommaso Valletti

蝌蚪网 Journal: Microeconomics, August 2022

We model digital platforms as attention brokers that have proprietary information about their users' product preferences and sell targeted ad space to retail product industries. Retail producers鈥攊ncumbents or entrants鈥攃ompete for access to this attent...

Investment and Information Acquisition

By Dimitri Migrow and Sergei Severinov

蝌蚪网 Journal: Microeconomics, August 2022

We study the interaction between productive investment and persuasion activities in a principal鈥揳gent setting with strategic disclosure. In an attempt to persuade the principal, the agent diverts substantial resources from productive activities to info...

蝌蚪网 Member Announcements: 2022 Annual Election

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July 15, 2022

View member announcement from July 27, 2022.

Front Matter

蝌蚪网 Review, August 2022

Community Colleges and Upward Mobility

By Jack Mountjoy

蝌蚪网 Review, August 2022

Two-year community colleges enroll nearly half of all first-time undergraduates in the United States, but to ambiguous effect: low persistence rates and the potential for diverting students from four-year institutions cast ambiguity over two-year colleges...

The Impact of Childhood Social Skills and Self-Control Training on Economic and Noneconomic Outcomes: Evidence from a Randomized Experiment Using Administrative Data

By Yann Algan, Elizabeth Beasley, Sylvana 颁么迟茅, Jungwee Park, Richard E. Tremblay, and Frank Vitaro

蝌蚪网 Review, August 2022

A childhood intervention to improve the social skills and self-control of at-risk kindergarten boys in the 1980s had positive impacts over the life course: higher trust and self-control as adolescents; increased social group membership, education, and red...

Sentiment and Speculation in a Market with Heterogeneous Beliefs

By Ian W. R. Martin and Dimitris Papadimitriou

蝌蚪网 Review, August 2022

We present a model featuring risk-averse investors with heterogeneous beliefs. Individuals who are correct in hindsight鈥攚hether through luck or judgment鈥攇et rich, so sentiment is bullish following good news and bearish following bad news. Sentiment ma...

The Economic Effects of Mafia: Firm Level Evidence

By Litterio Mirenda, Sauro Mocetti, and Lucia Rizzica

蝌蚪网 Review, August 2022

We analyze the effects of Mafia infiltration in the legal economy. Combining information from investigative records with panel data on firms' governance and balance sheets, we build an indicator of infiltration in firms located in an area with no traditio...

The Human Side of Structural Transformation

By Tommaso Porzio, Federico Rossi, and Gabriella Santangelo

蝌蚪网 Review, August 2022

We document that nearly half of the global decline in agricultural employment was driven by new cohorts entering the labor market. A new dataset of policy reforms supports an interpretation of these cohort effects as human capital. Using a model of fricti...

Capital Gains Taxes and Real Corporate Investment: Evidence from Korea

By Terry S. Moon

蝌蚪网 Review, August 2022

This paper assesses the effects of capital gains taxes on investment in the Republic of Korea (hereafter, Korea), where capital gains tax rates vary at the firm level by firm size. Following a reform in 2014, firms with a tax cut increased investment by 3...

Dynamic Oligopoly and Price Stickiness

By Olivier Wang and 滨惫谩苍 Werning

蝌蚪网 Review, August 2022

How does market concentration affect the potency of monetary policy? To address this question we embed a dynamic oligopolistic game into a general-equilibrium macroeconomic model. We provide a sufficient-statistic formula for the response to monetary shoc...

Market Access and Quality Upgrading: Evidence from Four Field Experiments

By Tessa Bold, Selene Ghisolfi, Frances Nsonzi, and Jakob Svensson

蝌蚪网 Review, August 2022

Smallholder farming in many developing countries is characterized by low productivity and low-quality output. Low quality limits the price farmers can command and their potential income. We conduct a series of experiments among maize farmers in Uganda to ...

Supply Network Formation and Fragility

By Matthew Elliott, Benjamin Golub, and Matthew V. Leduc

蝌蚪网 Review, August 2022

We model the production of complex goods in a large supply network. Each firm sources several essential inputs through relationships with other firms. Individual supply relationships are at risk of idiosyncratic failure, which threatens to disrupt product...

All Eyes on Them: A Field Experiment on Citizen Oversight and Electoral Integrity

By Natalia 骋补谤产颈谤补蝉-顿铆补锄 and Mateo Montenegro

蝌蚪网 Review, August 2022

Can information and communication technologies help citizens monitor their elections? We analyze a large-scale field experiment designed to answer this question in Colombia. We leveraged Facebook advertisements sent to over 4 million potential voters to e...

Front Matter

蝌蚪网 Journal: Economic Policy, August 2022

Housing Lock: Dutch Evidence on the Impact of Negative Home Equity on Household Mobility

By Asaf Bernstein and Daan Struyven

蝌蚪网 Journal: Economic Policy, August 2022

This paper employs Dutch administrative population data to test the "housing lock hypothesis": the conjecture that homeowners with negative home equity, low levels of financial assets, and restricted opportunities to borrow reduce their mobility. Variatio...

Human Trafficking and Regulating Prostitution

By Samuel Lee and Petra Persson

蝌蚪网 Journal: Economic Policy, August 2022

Certain markets are illicit because part of the supply is coerced, but little is known about the optimal regulation of such markets. We model a prostitution market with voluntary and coerced prostitutes and ask what regulation can restore the benchmark ou...