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Regulating Platform Fees Under Price Parity J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-03-12 Renato Gomes, Andrea Mantovani
Online intermediaries greatly expand consumer information, but also raise sellers’ marginal costs by charging high commissions. To prevent disintermediation, some platforms adopted price parity and anti-steering provisions, which restrict sellers’ ability to use alternative sales channels. Whether to uphold, reform, or ban these provisions has been at the center of the policy debate, but, so far, little
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The Gender Gap in Earnings Losses After Job Displacement J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-03-12 Hannah Illing, Johannes Schmieder, Simon Trenkle
We compare men and women who are displaced from similar jobs by applying an event study design combined with propensity score matching and reweighting to administrative data from Germany. After a mass layoff, women’ s earnings losses are about 35% higher than men’ s, with the gap persisting five years after displacement. This is partly explained by women taking up more part-time employment, but even
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Labor Unions and the Electoral Consequences of Trade Liberalization J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-03-12 Pedro Ogeda, Emanuel Ornelas, Rodrigo R Soares
We show that the Brazilian trade liberalization in the early 1990s led to a permanent relative decline in the vote share of left-wing presidential candidates in the regions more affected by the tariff cuts. This happened even though the shock, implemented by a right-wing party, induced a contraction in manufacturing and formal employment in the more affected regions, and despite the left’s identification
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Decentralized Targeting of Agricultural Credit Programs: Private versus Political Intermediaries J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-03-07 Pushkar Maitra, Sandip Mitra, Dilip Mookherjee, Sujata Visaria
We conduct a field experiment in India comparing two ways of delegating selection of microcredit clients among smallholder farmers to local intermediaries: a private trader (TRAIL), versus a local-government appointee (GRAIL). Selected beneficiaries in both schemes were equally likely to take up and repay loans, and experienced similar increases in borrowing and farm output. However farm profits increased
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Temptation and Commitment: A Model of Hand-to-Mouth Behavior J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-02-28 Orazio Attanasio, Agnes Kovacs, Patrick Moran
This paper presents a model of consumption behavior that explains the presence of ‘wealthy hand-to-mouth’ consumers using a mechanism that differs from those analyzed previously. We show that a two-asset model with temptation preferences generates a demand for commitment and thus illiquidity, leading to hand-to-mouth behavior even when liquid assets deliver higher returns than illiquid assets. This
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Firms’ Inflation Expectations: New Evidence from France J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-02-28 Frédérique Savignac, Erwan Gautier, Yuriy Gorodnichenko, Olivier Coibion
Using a new survey of firms’ inflation expectations in France, we provide novel evidence about the measurement and formation of inflation expectations on the part of firms. First, French firms report inflation expectations with a smaller, but still positive, bias than households and display less disagreement. Second, we characterize the extent and manner in which the wording of questions matters for
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Trust Me: Communication and Competition in a Psychological Game J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-02-24 Marina Agranov, Utteeyo Dasgupta, Andrew Schotter
We study, both theoretically and experimentally, a communication game with and without seller competition and embed it in a psychological-game framework where players experience costs for lying, misleading others, and being disappointed. We derive the equilibrium predictions of this model, compare them to the setting without psychological payoffs, and test these predictions in a laboratory experiment
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Policies or Prejudices? an Analysis of Antisemitic and Anti-Israel Views on Social Media and Social Surveys J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-02-24 Noam Binstok, Eric D Gould, Todd Kaplan
This paper examines the extent to which personal biases affect political views, in the context of how antisemitism influences opinions about Israel. Two empirical analyses are conducted. The first one analyzes social media chatter about Jews and Israel in the UK, revealing a strong, positive relationship between negative chatter about both of them at the daily-location level. In order to establish
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MASS POLITICAL INFORMATION ON SOCIAL MEDIA: FACEBOOK ADS, ELECTORATE SATURATION, AND ELECTORAL ACCOUNTABILITY IN MEXICO J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-02-16 José Ramón Enríquez, Horacio Larreguy, John Marshall, Alberto Simpser
Social media’s capacity to quickly and inexpensively reach large audiences almost simultaneously has the potential to promote electoral accountability. Beyond increasing direct exposure to information, high saturation campaigns—which target substantial fractions of an electorate—may induce or amplify information diffusion, persuasion, or coordination between voters. Randomizing saturation across municipalities
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The Incentive Complementarity Between Formal and Informal Enforcement J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-02-10 Matthew O Jackson, Yiqing Xing
We introduce a model in which people exchange some goods and services informally in their community and others formally on a market. We show that enforcement by informal communities and a formal market are complements: if communities ostracize individuals who are caught cheating on the market, this bolsters incentives to comply with exchanges in both settings. Although transactions within a community
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Unintended Consequences of the Global Derivatives Market Reform J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-02-09 Pauline Gandré, Mike Mariathasan, Ouarda Merrouche, Steven Ongena
Following the early implementation of the global over-the-counter (OTC) derivatives market reform in the US and the associated increase in trading costs, US banks shifted up to 60% of their OTC derivatives activity abroad, particularly towards less regulated jurisdictions. Consistent with a cost saving incentive of regulatory arbitrage, we find that this flight abroad is driven by costlier blocks of
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Resisting Education J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-02-06 Jean-Paul Carvalho, Mark Koyama, Cole Williams
Educational institutions not only build human capital; they also shape culture. We present a model of cultural dynamics produced by cultural transmission through the education system. Groups that are culturally marginalized become economically disadvantaged and exhibit various forms of resistance to education. First, individuals may drop out of education to avoid its cultural content. Second, individuals
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What’s Wrong with Annuity Markets? J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-02-05 Stéphane Verani, Pei Cheng Yu
We show that the supply of U.S. life annuities is constrained by interest rate risk. We identify this effect using annuity prices offered by life insurers from 1989 to 2019 and exogenous variations in contract-level regulatory capital requirements. The cost of interest rate risk management—conditional on the effect of adverse selection—accounts for about half of annuity markups, or 8 percentage points
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Electoral Campaigns as Dynamic Contests J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-02-01 Avidit Acharya, Edoardo Grillo, Takuo Sugaya, Eray Turkel
We develop a model of electoral campaigns as dynamic contests in which two office-motivated candidates allocate their budgets over time to affect their odds of winning. We measure the candidates’ evolving odds of winning using a state variable that tends to decay over time, and we refer to it as the candidates’ “relative popularity.” In our baseline model, the equilibrium ratio of spending by each
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Social Conflict and the Evolution of Unequal Conventions J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-01-18 Sung-Ha Hwang, Suresh Naidu, Samuel Bowles
We propose a theory of social norms (or conventions) that implement substantial levels of inequality between men and women, ethnic groups, and classes and that persist over long periods of time despite being inefficient and not supported by formal institutions. Consistent with historical cases, we extend the standard asymmetric stochastic evolutionary game model to allow sub population sizes to differ
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Agency in Hierarchies: Middle Managers and Performance Evaluations J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-01-16 Henrique Castro-Pires
This paper studies the optimal joint design of incentives and performance rating scales in a principal-manager-worker hierarchy. The principal wants to motivate the worker to exert unobservable effort at the minimum feasible cost. Given the worker’s effort, two signals are realized: public and verifiable output and a private non-verifiable signal known only to the manager. The principal may try to
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Morals in Multi-Unit Markets J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-01-12 Andreas G B Ziegler, Giorgia Romagnoli, Theo Offerman
We examine how the erosion of morals, norms, and norm compliance in markets depends on the market power of individual traders. Previously studied markets allow traders to exchange at most one unit and provide market power to individual traders by de-activating two forces: (i) the replacement logic, whereby immoral trading is justified by the belief that others would trade otherwise; (ii) market selection
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The concentration of personal wealth in Italy 1995–2016 J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2024-01-09 Paolo Acciari, Facundo Alvaredo, Salvatore Morelli
We estimate the distribution of wealth in Italy between 1995 and 2016 using a novel source of inheritance tax files, combined with surveys and national accounts. We find that the level of wealth concentration is in line with other European countries; however, its time trend appears more in line with the US, showing a significant increase over the period studied. The country exhibits one of the greatest
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Debt crises, fast and slow J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-12-29 Giancarlo Corsetti, Fred Seunghyun Maeng
We build a dynamic model where the economy is vulnerable to belief-driven slow-moving debt crises at intermediate debt levels, and rollover crises at both low and high debt levels. Vis-à-vis the threat of slow-moving crises, countercyclical deficits generally welfare-dominate debt reduction policies. In a recession, optimizing governments only deleverage if debt is close to the threshold below which
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Structural Reforms and Elections: Evidence from a World-Wide New Dataset J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-12-24 Alberto Alesina, Davide Furceri, Jonathan D Ostry, Chris Papageorgiou, Dennis O Quinn
We present two newdatabases we have constructed to explore the electoral consequences of structural economic policy reforms. One database measures reforms in domestic finance, external finance, trade, product, and labor markets covering 90 advanced and developing economies from 1973 to 2014. The other chronicles the timing and results of national elections. We find that liberalizing reforms are associated
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Co-location, good, bad or both: How do new entries of discount variety stores affect local grocery businesses? J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-12-13 Charlotte B Evensen, Frode Steen, Simen A Ulsaker
We analyse 69 entries and relocations by the largest Norwegian discount variety chain Europris during the period 2016 to 2019, and measure how its location choices affect local grocery stores’ performance. We use detailed data from a major Norwegian grocery chain, which enables us to combine local grocery stores’ sales and traffic with travelling distance to new or relocated Europris stores, and a
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Reconstructing Income Inequality in Italy: New Evidence and Tax System Implications from Distributional National Accounts J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-12-13 Demetrio Guzzardi, Elisa Palagi, Andrea Roventini, Alessandro Santoro
This work reconstructs novel series on income distribution in Italy combining survey data, tax data and National Accounts both at the national and regional levels, and it analyzes the overall progressivity of the tax system. Our new Distributional National Accounts allow to correct for remarkable misreporting of capital income in surveys, to provide more accurate estimates of consumption, and to better
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Nastiness in Groups J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-12-01 Michal Bauer, Jana Cahlíková, Dagmara Celik Katreniak, Julie Chytilová, Lubomír Cingl, Tomáš Želinský
This paper provides evidence showing that people are more prone to engage in nasty behavior, malevolently causing _nancial harm to other people at own costs, when they make decisions in a group context rather than when making choices individually on their own. We establish this behavioral regularity in a series of large-scale experiments among university students, adolescents, and nationally representative
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Rationality and Zero Risk J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-11-28 Itzhak Gilboa, Stefania Minardi, Fan Wang
We adopt a definition of “rationality” as robustness to analysis: a mode of behavior is rational for a decision maker if she feels comfortable with it once it has been analyzed and explained to her. With this definition in mind, is it irrational to violate continuity axioms in one’s stated preferences? Specifically, does it make sense to avoid any positive probability of a negative outcome, not matter
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Double marginalization, market foreclosure, and vertical integration J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-11-24 Philippe Choné, Laurent Linnemer, Thibaud Vergé
Double marginalization is a robust phenomenon in procurement under asymmetric information when sophisticated contracts can be implemented. In this context, vertical integration causes merger-specific elimination of double marginalization but biases the make-or-buy decision against independent suppliers. If the buyer has full bargaining power over prices and quantities, a vertical merger benefits final
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Risky Gravity J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-11-21 Luciana Juvenal, Paulo Santos Monteiro
We consider the canonical trade model with heterogeneous firms, love for variety and trade costs, and integrate it in the consumption CAPM model. This yields a structural gravity equation that includes an additional factor related to risk premia. Empirical evidence based on firm-level data confirms the importance of cross-sectional heterogeneity in risk and time-varying risk premia to shape bilateral
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Double Marginalization, Market Foreclosure, and Vertical Integration J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-11-20 Philippe Choné, Laurent Linnemer, Thibaud Vergé
Double marginalization is a robust phenomenon in procurement under asymmetric information when sophisticated contracts can be implemented. In this context, vertical integration causes merger-specific elimination of double marginalization but biases the make-or-buy decision against independent suppliers. If the buyer has full bargaining power over prices and quantities, a vertical merger benefits final
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The Academic Market and the Rise of Universities in Medieval and Early Modern Europe (1000-1800) J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-11-17 David de la Croix, Frédéric Docquier, Alice Fabre, Robert Stelter
We argue that market forces shaped the geographic distribution of upper-tail human capital across Europe during the Middle Ages, and contributed to bolstering universities at the dawn of the Humanistic and Scientific Revolutions. We build a unique database of thousands of scholars from university sources covering all of Europe, construct an index of their ability, and map the academic market in the
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An Adaptive Targeted Field Experiment: Job Search Assistance for Refugees in Jordan J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-11-17 A Stefano Caria, Grant Gordon, Maximilian Kasy, Simon Quinn, Soha Shami, Alexander Teytelboym
We introduce an adaptive targeted treatment assignment methodology for field experiments. Our Tempered Thompson Algorithm balances the goals of maximizing the precision of treatment effect estimates and maximizing the welfare of experimental participants. A hierarchical Bayesian model allows us to adaptively target treatments. We implement our methodology in Jordan, testing policies to help Syrian
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Preventing Violence in the Most Violent Contexts: Behavioral and Neurophysiological Evidence from El Salvador J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-11-14 Lelys Dinarte-Diaz, Pablo Egana-delSol
Violence and delinquency levels in Central America are among the highest in the world and constrain human capital acquisition. We designed and conducted a randomized experiment in El Salvador to measure the impacts of an after-school program aimed at reducing school violence. The program combines a behavioral intervention with extracurricular activities for 10 to 16 year old students. We find the program
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Stereotypes and Belief Updating J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-10-31 Katherine Coffman, Manuela R Collis, Leena Kulkarni
We explore how feedback shapes, and perpetuates, gender gaps in self-assessments. Participants in our experiment take tests of their ability across different domains. We elicit their beliefs of their performance before and after feedback. We _nd that, even after the provision of highly informative feedback, gender stereotypes in_uence posterior beliefs, beyond what a Bayesian model would predict. This
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Motherhood and the Gender Productivity Gap J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-10-24 Yana Gallen
Using Danish matched employer-employee data, I compare the relative pay of men and women to their relative productivity as measured by production function estimation. I find that the gender “productivity gap” is 8%, implying that almost two thirds of the residual gender wage gap is due to productivity differences between men and women. Motherhood plays an important role, yet it also reveals a puzzle:
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Hard-to-Interpret Signals J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-10-19 Larry G Epstein, Yoram Halevy
Decisions under uncertainty are often made with information whose interpretation is uncertain because multiple interpretations are possible. Individuals may perceive and handle uncertainty about interpretation differently and in ways that are not directly observable to a modeler. This paper identifies and experimentally examines behavior that can be interpreted as reflecting an individual’s attitude
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The Beauty of Uncertainty: The Rise of Insurance Contracts and Markets in Medieval Europe J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-10-13 Maristella Botticini, Pietro Buri, Massimo Marinacci
Maritime insurance developed in medieval Europe is the ancestor of all forms of insurance that appeared subsequently. We address the question of why modern insurance was first invented in medieval Europe, and neither earlier nor elsewhere. Drawing from insights from the literature on uncertainty aversion, we show that medieval merchants had to bear more frequently natural risks (they traveled longer
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Behavioral Macroeconomics VIA Sparse Dynamic Programming J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-10-12 Xavier Gabaix
This paper proposes a tractable way to model boundedly rational dynamic programming. The agent uses an endogenously simplified, or “sparse,” model of the world and the consequences of his actions and acts according to a behavioral Bellman equation. The framework yields a behavioral version of some of the canonical models in macroeconomics and finance. In the life-cycle model, the agent initially does
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Inattention and the Taxation Bias J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-10-05 Jérémy Boccanfuso, Antoine Ferey
This paper shows that inattention to taxes generates a time-inconsistency problem in the choice of tax policy, leading to higher taxes in equilibrium. These discretionary tax increases are inefficient as they are deviations from the socially optimal commitment policy. We call these deviations a taxation bias. Combining sufficient statistics and structural approaches, we quantify the magnitude of this
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Trade Disruption, Industrialisation, and the Setting Sun of British Colonial Rule in India J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-10-02 Roberto Bonfatti, Björn Brey
Colonial trade prompted the colonies to specialise in primary products. Did this eliminate industrialisation opportunities in the colonies, and did it make them more politically dependent on the coloniser? To answer these questions, we examine the impact of the World War I trade shock on industrial growth and support for the anti-colonial movement in India. We find that districts more exposed to a
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Pessimism, Disagreement, and Economic Fluctuations J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-09-29 Guangyu Pei
The pessimistic bias and the cross-sectional dispersion of households’ subjective beliefs heighten during recessions. We provide empirical evidence for a dominant non-inflationary aggregate demand shock that accounts for the bulk of business-cycle fluctuations not only in real quantities but also in (1) pessimism—to what degree households are more pessimistic than the rational expectation benchmark
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The Importance of Modeling Income Taxes Over Time: U.S. Reforms and Outcomes J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-09-13 Margherita Borella, Mariacristina De Nardi, Michael Pak, Nicolo Russo, Fang Yang
While “Tis impossible to be sure of anything but Death and Taxes” (Bullock (1716)), the structure of taxes and their burden have undergone large and frequent changes over time. We provide a brief history of U.S. federal income tax reform since the 1960s, calculate effective federal income tax rates for each wave of the Panel Study of Income Dynamics, and discuss how effective taxation changed from
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Traumatic Experiences Adversely Affect Life Cycle Labor Market Outcomes of the Next Generation - Evidence from Wwii Nazi Raids J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-09-06 Vincenzo Atella, Edoardo Di Porto, Joanna Kopinska, Maarten Lindeboom
This paper examines the causal effect of a traumatic event experienced by pregnant women on the life-long labor market outcomes of their offspring. We exploit a unique natural experiment that involved randomly placed Nazi raids in municipalities in Italy during WWII. We link administrative data on male private sector workers to information about Nazi raids and war casualties. Our results suggest that
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The Life-Cycle Effects of Pension Reforms: a Structural Approach J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-09-06 Claudio Daminato, Mario Padula
To assess the life-cycle welfare effects of pension reforms, we provide a dynamic stochastic model of saving, portfolio choice and retirement featuring a rich characterisation of the pension system. Relying on the exogenous variation from a sequence of Italian pension reforms, we identify and estimate the model, which is then used to draw implications of alternative pension policies. The validated
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Time to Grow UP? Adult Children as Determinants of Parental Labor Supply J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-09-05 Breno Braga, Olga Malkova
As children transition to adulthood, do they remain a major determinant of parental labor supply? To answer this question, we examine how college costs affect the labor supply of mothers and fathers by exploiting the roll-out of nine generous state merit aid programs in the United States from 1993 to 2004, which made college more affordable. Mothers of college-age children decreased their annual hours
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Judge Bias in Labor Courts and Firm Performance J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-08-29 Pierre Cahuc, Stéphane Carcillo, Bérengère Patault, Flavien Moreau
This paper documents the existence of judge-specific differences on granting compensation for wrongful dismissal and shows that their consequences are different for small low-performing firms than for other firms. Pro-worker judge bias reduces job creation for all firms, increases the destruction of permanent jobs in small and low-performing firms but reduces it in large high-performing firms. Pro-worker
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Uncertainty, Investment and Productivity with Relational Contracts J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-08-29 James M Malcomson
With relational contracts, increased uncertainty with no change in factor prices is shown to reduce investment in the long run even if the parties are risk neutral. This contrasts with models based on the impact of financial risk on the cost of capital and on the option value arising from irreversible investment. For the latter, Bloom et al. (Econometrica, 2018) find that a negative first-moment shock
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Dissecting Idiosyncratic Earnings Risk J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-08-23 Elin Halvorsen, Hans A Holter, Serdar Ozkan, Kjetil Storesletten
This paper examines whether nonlinear and non-Gaussian features of earnings dynamics are caused by hours or hourly wages. Our findings from the Norwegian administrative and survey data are as follows: (i) Nonlinear mean reversion in earnings is driven by the dynamics of hours worked rather than wages since wage dynamics are close to linear, while hours dynamics are nonlinear—negative changes to hours
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Can Wealth Buy Health? A Model of Pecuniary and Non-Pecuniary Investments in Health J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-08-04 Panos Margaris, Johanna Wallenius
In this paper, we develop a life cycle model that features pecuniary and non-pecuniary investments in health in order to rationalize the socioeconomic gradients in health and life expectancy in the United States. Agents accumulate health capital, which affects labor productivity, utility, the distribution of medical spending shocks, and life expectancy. We find that unequal health insurance coverage
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Forced Migration and Local Public Policies: Evidence from Post-War West Germany J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-07-26 Arnaud Chevalier, Benjamin Elsner, Andreas Lichter, Nico Pestely
We study the effect of forced migration on public policy setting in the migrant-receiving country. After World War II, eight million expelled Germans arrived in West Germany within five years. We use regional variation in the population share of forced migrants across West German cities to estimate the effect of this inflow on cities’ taxation and spending decisions. To identify a causal effect, we
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Risk in Time: The Intertwined Nature of Risk Taking and Time Discounting J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-06-23 Thomas F Epper, Helga Fehr-Duda
Standard economic models view risk taking and time discounting as two independent dimensions of decision making. However, mounting experimental evidence demonstrates striking parallels in patterns of risk taking and time discounting behavior and systematic interaction effects, which suggests that there may be common underlying forces driving these interactions. Here we show that the inherent uncertainty
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Diffusion of Gender Norms: Evidence from Stalin’s Ethnic Deportations J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-06-17 Antonela Miho, Alexandra Jarotschkin, Ekaterina Zhuravskaya
We study horizontal between-group cultural transmission using Stalin’s ethnic deportations as a historical experiment. Over 2 million Soviet citizens, mostly Germans and Chechens, were forcibly relocated from the western to eastern parts of the USSR during WWII solely based on ethnicity. As a result, the native population of the deportation destinations was exogenously exposed to groups with drastically
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Identifying the Effect of Election Closeness on Voter Turnout: Evidence from Swiss Referenda J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-06-17 Leonardo Bursztyn, Davide Cantoni, Patricia Funk, Felix Schönenberger, Noam Yuchtman
We provide evidence of a causal effect of anticipated election closeness on voter turnout, exploiting the precise day-level timing of the release of Swiss national poll results for high-stakes federal referenda, and a novel dataset on daily mail-in voting for the canton of Geneva. Using an event study design, we find that the release of a closer poll causes voter turnout to sharply rise immediately
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Energy Transition Metals: Bottleneck for Net-Zero Emissions? J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-06-15 Lukas Boer, Andrea Pescatori, Martin Stuermer
The energy transition requires substantial amounts of metals, including copper, nickel, cobalt, and lithium. Are these metals a bottleneck? We identify metal-specific demand shocks, estimate supply elasticities, and study the price impact of the transition in a structural scenario analysis. Prices of these four metals would reach previous historical peaks but for an unprecedented, sustained period
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Aggregate Properties of Open Economy Models with Expanding Varieties J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-06-09 Saroj Bhattarai, Konstantin Kucheryavyy
We present a unified framework to study interconnections between business cycle and international trade models. This unified framework is built upon the standard competitive, representative-firm international real business cycle model and features production externalities in the intermediate and final goods sectors. Our main theoretical result is that this unified framework is equivalent in aggregate
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Past and Future: Backward and Forward Discounting J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-06-08 Debraj Ray, Nikhil Vellodi, Ruqu Wang
We study a model of time preference in which both current consumption and the memory of past consumption enter “experienced utility” — or the felicity — of an individual. An individual derives overall utility from her own felicity and the anticipated felicities of future selves. These postulates permit an agent to anticipate future regret in current decisions, and generate a set of novel testable implications
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The Impact of Increased Access to Telemedicine J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-05-30 Dan Zeltzer, Liran Einav, Joseph Rashba, Ran D Balicer
We estimate the impact of increased access to telemedicine following widespread adoption during the March–April 2020 COVID-19 lockdown period. We focus on the post-lockdown period, which was characterized by near-complete reopening. Using a difference-in-differences framework, we compare primary care episodes before and after the lockdown between patients with high and low access to telemedicine, as
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What Do Happiness Data Mean? Theory and Survey Evidence J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-05-27 Daniel J Benjamin, Jakina Debnam Guzman, Marc Fleurbaey, Ori Heffetz, Miles Kimball
What utility notion—e.g. flow/lifetime, self/family-centered—do self-reported well-being (SWB) questions measure? Existing applications make different assumptions regarding the (i) life domains, (ii) time horizons, and (iii) other-regarding preferences captured by SWB data. To obtain relevant evidence, we ask survey respondents what they had in mind regarding (i)–(iii) when answering commonly used—life
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Recruitment Policies, Job-Filling Rates and Matching Efficiency J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-05-27 Carlos Carrillo-Tudela, Hermann Gartner, Leo Kaas
Recruitment intensity is important for the matching process in the labor market. Using unique linked survey-administrative data, we investigate the relationships between hiring and recruitment policies at the establishment level. Faster hiring goes along with higher search effort, lower hiring standards and more generous wages. We develop a directed search model that links these patterns to the employment
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Identity, Information and Situations J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-05-25 Daniele Pennesi
This paper introduces a model of individual behavior based on identity, a person’s sense of self. The individual evaluates situations, i.e., sets of available actions given a belief about the actions’ uncertain payoffs. In some situations, a psychological cost arises because the individual’s identity prescribes an action that differs from the one maximizing material benefits. The model shows that a
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Listing Specs: The Effect of Framing Attributes on Choice J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-05-23 Simone Galperti, Francesco Cerigioni
Consistent evidence across important domains shows that people’s decisions can depend on the order or emphasis with which the attributes of the available options are presented to them. We introduce the first model of such framing effects, which we characterize in terms of observable behavior. We apply the model to study how the strategic use of attribute framing affects the outcomes of negotiations
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Ethnic Conflict and the Informational Dividend of Democracy J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-05-20 Jérémy Laurent-Lucchetti, Dominic Rohner, Mathias Thoenig
Prevailing theories of democracy focus on class conflict. In contrast, we study democratic transition when ethnic tensions are more salient than the poor/rich divide, building a model where (i) ethnic groups negotiate about allocating the economic surplus and (ii) military and political mobilizations rest on the unobserved strength of ethnic attachment. Free and fair elections elicit information and
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Structural Change within the Services Sector and the Future of Cost Disease J. Eur. Econ. Assoc. (IF 4.301) Pub Date : 2023-05-16 Georg Duernecker, Berthold Herrendorf, Ákos Valentinyi
Baumol (1967) observed that developed economies suffer from cost disease, i.e., aggregate productivity growth falls because structural change reallocates production to services with low productivity growth. We document that cost disease importantly contributed to the productivity growth slowdown in the postwar U.S. To assess how severe cost disease may become, we build a model of structural change