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Browsing Department of Economics by Issue Date

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Browsing Department of Economics by Issue Date

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  • Auclert, Adrien; Rognlie, Matthew (2014-09-04)
    We provide a proof that Markov Perfect equilibrium is unique in the standard infinitehorizon incomplete-market model with a default option which, following Eaton and Gersovitz (1981), has become a benchmark for quantitative ...
  • Andrews, Isaiah (2014-09-04)
    When weak identification is a concern researchers frequently calculate confidence sets in two steps, first assessing the strength of identification and then, on the basis of this initial assessment, deciding whether to use ...
  • Wheaton, William C.; Chervachidze, Serguei; nechayev, Gleb (Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2014-01-19)
    MSA-level estimates of a housing supply schedule must offer a solution to the twin problems of simultaneity and stationarity that plague the time series data for local housing prices and stock. An Error Correction Model ...
  • Acemoglu, Daron; Mostagir, Mohamed; Ozdaglar, Asuman (Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2014-01-17)
    Crowdsourcing is an emerging technology where innovation and production are sourced out to the public through an open call. At the center of crowdsourcing is a resource allocation problem: there is an abundance of workers ...
  • Acemoglu, Daron; Laibson, David; List, John A. (Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2014-01-17)
    Educational resources distributed via the Internet are rapidly proliferating. One prominent concern associated with these potentially transformative developments is that, as many of the leading technologies of the last ...
  • Acemoglu, Daron; Garcia-Jimeno, Camilo; Robinson, James A. (Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2014-01-08)
    We study the direct and spillover effects of local state capacity using the network of Colombian municipalities. We model the determination of local and national state capacity as a network game in which each municipality, ...
  • Johnson, Lynn Christine, 1976- (Massachusetts Institute of Technology, 2014)
    I investigate whether voters judge the performance of their governor on taxes by comparing him to governors from neighboring states. If voters do make these comparisons, it creates "yardstick competition," where governors ...
  • Zabai, Anna (Massachusetts Institute of Technology, 2014)
    In the first chapter, I explore the role of coordination problems and self-fulfilling beliefs as drivers of sovereign default risk. I employ global-game techniques to induce a unique equilibrium. Along the unique equilibrium, ...
  • Lee, Joonhwan; Fernández-Val, Iván (Massachusetts Institute of Technology, 2014)
    This paper considers fixed effects estimation and inference in linear and nonlinear panel data models with random coefficients and endogenous regressors. The quantities of interest - means, variances, and other moments of ...
  • Sethi, Rajiv; Yildiz, Muhamet (Cambridge, MA: Department of Economics, massachusetts Institute of Technology, 2013-12-06)
    Consider a group of individuals with unobservable perspectives (subjective prior beliefs) about a sequence of states. In each period, each individual receives private information about the current state and forms an opinion ...
  • Acemoglu, Daron; Johnson, Simon; Kermani, Amir; Kwak, James; Mitton, Todd (Cambridge, MA: Department of Economics, Massachusetts institute of Technology, 2013-11-27)
    The announcement of Timothy Geithner as nominee for Treasury Secretary in November 2008 produced a cumulative abnormal return for financial firms with which he had a connection. This return was about 6% after the first ...
  • Acemoglu, Daron; Naidu, Suresh; Restrepo, Pascual; Robinson, James A. (Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2013-10-30)
    In this paper we revisit the relationship between democracy, redistribution and inequality. We first explain the theoretical reasons why democracy is expected to increase redistribution and reduce inequality, and why this ...
  • Chen, Yuyu; Ebenstein, Avraham; Greenstone, Michael; Li, Hongbin (Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2013-10-18)
    This paper's findings suggest that an arbitrary Chinese policy that greatly increases total suspended particulates (TSP) air pollution is causing the 500 million residents of Northern China to lose more than 2.5 billion ...
  • Banerjee, Abhijit V.; Duflo, Esther (Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2013-10-05)
    Under the Thumb of History? Political Institutions and the Scope for Action This paper discusses the two leading views of history and political institutions. For some scholars, institutions are mainly products of historical ...
  • Greenstone, Michael; Jack, B. Kelsey (Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2013-09-03)
    Environmental quality in many developing countries is poor and generates substantial health and productivity costs. However, existing measures of willingness to pay for environmental quality improvements indicate low ...
  • Duflo, Esther; Greenstone, Michael; Pande, Rohini; Ryan, Nicholas (Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2013-07-17)
    In many regulated markets, private, third-party auditors are chosen and paid by the firms that they audit, potentially creating a conflict of interest. This paper reports on a two-year field experiment in the Indian state ...
  • Acemoglu, Daron; Ozdaglar, Asu; Tahbaz-Salehi, Alireza (Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2013-06-30)
    This paper shows that large economic downturns may result from the propagation of microeconomic shocks over the input-output linkages across different firms or sectors within the economy. Building on the framework of ...
  • Autor, David; Dorn, David; Hanson, Gordon H.; Song, Jae (Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2013-06-30)
    In the past two decades, China’s manufacturing exports have grown spectacularly, U.S. imports from China have surged, but U.S. exports to China have increased only modestly. Using representative, longitudinal data on ...
  • Lorenzoni, Guido; Werning, Ivan (Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2013-06-30)
    What circumstances or policies leave sovereign borrowers at the mercy of self-fulfilling increases in interest rates? To answer this question, we study the dynamics of debt and interest rates in a model where default is ...
  • Piore, Michael (Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2013-06-28)
    This paper was originally prepared for the New School celebration of Duncan Foley’s career. It attempts to place his work in the context of the evolution of economics as a discipline and of the MIT Economics Department ...
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