Research

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Title
Author(s)
Year
Alan Krueger
2016
Uber, the ride-sharing company launched in 2010, has grown at an exponential rate. This paper provides the first comprehensive analysis of the labor market for Uber’s driver-partners, based on both survey and administrative data.  Drivers who partner with ...
Paul DiMaggio
2016
This paper proposes a systematic approach to the study of immigration and art by considering relevant theoretical concepts. We focus on the role of institutions and economic change as forces shaping the expressive alternatives of immigrants and their ...
2016
We put forward a framework to evaluate the potential impact of international competition on firm performance, and we highlight two points. First, it is important to consider effects on productive efficiency and market power in an integrated framework. ...
Gene Grossman
2016
We introduce firm and worker heterogeneity into a model of innovation-driven endogenous growth. Individuals who differ in ability sort into either a research sector or a manufacturing sector that produces differentiated goods. Each research project ...
2016
Motivated by practical applications, chiefly clinical trials, we study the regret achievable for stochastic bandits under the constraint that the employed policy must split trials into a small number of batches. Our results show that a very small number ...
Roland Benabou
2016
To analyze the impact of labor market competition on the structure of compensation, we embed multitasking and screening within a Hotelling framework. Competition for talent leads to an escalation of performance pay, shifting effort away from long-term ...
2016
We propose a measure for systemic risk, ∆CoVaR, defined as the conditional value at risk (CoVaR) of the financial system conditional on an institution being under distress in excess of the CoVaR conditional on the median state of the institution. Our ...
2016
This paper examines how prices, markups and marginal costs respond to trade liberalization. We develop a framework to estimate markups from production data with multi-product firms. This approach does not require assumptions on the market structure or ...
Alan Blinder
2015
One frequently hears, often as a complaint, about the financial regulatory “pendulum” swinging too far in one direction or the other—from excessively tight regulation to excessively lax, and vice versa. My concern in this paper is precisely with those ...
Marc Fleurbaey
2015
When forming their preferences about the distribution of income, rational people may be caught between two opposite forms of “tyranny.” Giving absolute priority to the worst-off imposes a sort of tyranny on the rest of the population, but giving less than ...
2015
A theory of money needs a proper place for financial intermediaries. Intermediaries create inside money and their ability to take risks determines the money multiplier. In downturns, intermediaries shrink their lending activity and fire-sell assets. ...
2015
This paper explores whether Big Data, taking the form of extensive but high dimensional records, can reduce the cost of adverse selection in government-run capitation schemes. We argue that using data to improve the ex ante precision of capitation ...
2015
We study the mechanics of cartel enforcement and its interaction with bidding constraints in the context of repeated procurement auctions. Under collusion, bidding constraints affect cartel behavior by limiting future pledgeable surplus. This yields a ...
Richard Rogerson
2015
ABSTRACT: We document for a broad panel of advanced economies that increases in GDP per capita are associated with a shift in the composition of value added to sectors that are intensive in high-skill labor. It follows that further development in these ...
2015
This paper reviews some of the most prominent asset price bubbles from the past 400 years and documents how central banks (or other institutions) reacted to those bubbles. The historical evidence suggests that the emergence of bubbles is often preceded or ...
Alan Blinder
2015
This article comes in three parts. Part 1 reviews a few pertinent facts about the stunning economic events that have occurred in the United States (and elsewhere) since 2007. The author chose these particular facts from among many for their relevance to ...
2015
We measure the impact of a drastic new technology for producing steel—the minimill—on industry-wide productivity in the US steel industry, using unique plant-level data between 1963 and 2002. The sharp increase in the industry's productivity is ...
2014
This paper proposes a welfare criterion for economies in which agents have heterogeneously distorted beliefs. Instead of taking a stand on whose belief is correct, our criterion asserts that an allocation is belief-neutral efficient (inefficient) if it is ...
Anne Case
2014
We quantify the impact of adult deaths on household economic wellbeing, using a large longitudinal dataset spanning more than a decade. Verbal autopsies allow us to distinguish AIDS mortality from that due to other causes. The timing of the lower ...
2014
Financial institutions may be vulnerable to predatory short selling. When the stock of a financial institution is shorted aggressively, leverage constraints imposed by short-term creditors can force the institution to liquidate long-term investments at ...

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