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FRICTIONAL SORTING: THE IMPACTS OF DUAL CONSTRAINTS ON MOBILITY AND HOUSING SUPPLY IN CHINA 摩擦性分拣：中国流动性和住房供应双重约束的影响
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-07-09 DOI: 10.1111/iere.12724
Wenquan Liang, Ran Song, Christopher Timmins
{"title":"FRICTIONAL SORTING: THE IMPACTS OF DUAL CONSTRAINTS ON MOBILITY AND HOUSING SUPPLY IN CHINA","authors":"Wenquan Liang,&nbsp;Ran Song,&nbsp;Christopher Timmins","doi":"10.1111/iere.12724","DOIUrl":"10.1111/iere.12724","url":null,"abstract":"<p>Using an equilibrium sorting model and microdata from China, we evaluate the impacts of dual constraints on mobility and housing supply on workers’ sorting behavior, quantifying the welfare and distributional consequences. Counterfactual simulations show that lowering migration costs associated with institutional restrictions and migrant-specific amenities would increase welfare and reduce inequality by moving workers from inland to coastal regions in China. These impacts depend on the housing supply elasticity in coastal regions. Similarly, the impacts of relaxing housing supply restrictions depend on mobility constraints. Results highlight the policy complementarities between reducing the two kinds of frictions.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"65 4","pages":"1747-1776"},"PeriodicalIF":1.5,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141664143","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
PENSIONS, INCOME TAXES, AND HOMEOWNERSHIP: A CROSS-COUNTRY ANALYSIS 养老金、所得税和房屋所有权：跨国分析
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-07-04 DOI: 10.1111/iere.12723
Hans Fehr, Maurice Hofmann, George Kudrna
{"title":"PENSIONS, INCOME TAXES, AND HOMEOWNERSHIP: A CROSS-COUNTRY ANALYSIS","authors":"Hans Fehr,&nbsp;Maurice Hofmann,&nbsp;George Kudrna","doi":"10.1111/iere.12723","DOIUrl":"10.1111/iere.12723","url":null,"abstract":"<p>The article studies the role of pensions and income taxes in determining homeownership. We develop a stochastic, overlapping generations model with tenure choice and heterogenous skill types calibrated to Germany. Then, we simulate alternative income tax and pension policy structures from the United States and Australia, since these developed nations have similar incomes per capita, but highly different homeownership rates. Our results highlight that the pension system and its financing have decisive long-term effects on homeownership. The latter is even more significant than income tax, where labor and capital income taxation affect homeownership in opposite directions.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"66 1","pages":"143-174"},"PeriodicalIF":1.5,"publicationDate":"2024-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/iere.12723","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141551812","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
HEALTH, HEALTH INSURANCE, AND INEQUALITY 健康、医疗保险和不平等
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-07-04 DOI: 10.1111/iere.12722
Chaoran Chen, Zhigang Feng, Jiaying Gu
{"title":"HEALTH, HEALTH INSURANCE, AND INEQUALITY","authors":"Chaoran Chen,&nbsp;Zhigang Feng,&nbsp;Jiaying Gu","doi":"10.1111/iere.12722","DOIUrl":"10.1111/iere.12722","url":null,"abstract":"<p>This article identifies a <i>“health premium”</i> of insurance coverage: insured individuals are more likely to maintain good health or recover from poor health. We introduce this feature into a prototypical macrohealth model and estimate the baseline economy by matching the observed joint distribution of health insurance, health, and income over the life cycle. Quantitative analysis reveals that an individual's insurance status has a substantial and persistent impact on health. Providing universal health coverage would narrow health and life expectancy gaps, with a mixed effect on the income distribution in the absence of any additional redistribution of income or wealth.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"66 1","pages":"107-141"},"PeriodicalIF":1.5,"publicationDate":"2024-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/iere.12722","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141680258","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
MIDDLEMEN IN SEARCH EQUILIBRIUM WITH INTENSIVE AND EXTENSIVE MARGINS 中间商在密集和广阔利润率下的搜寻均衡
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-07-02 DOI: 10.1111/iere.12721
Grace Xun Gong, Randall Wright
{"title":"MIDDLEMEN IN SEARCH EQUILIBRIUM WITH INTENSIVE AND EXTENSIVE MARGINS","authors":"Grace Xun Gong,&nbsp;Randall Wright","doi":"10.1111/iere.12721","DOIUrl":"10.1111/iere.12721","url":null,"abstract":"<p>We study endogenous intermediation activity, the implied transaction pattern—direct trade, indirect trade, or both—and implications for efficiency. Related papers have agents exchanging indivisible goods or assets, capturing only extensive margins (trade frequency). To capture intensive margins, we incorporate divisibility representing quantity or quality. We characterize equilibrium, show how it depends on bargaining powers and costs, and how intensive margins matter—for example, middlemen with high bargaining power may charge more but offer higher quantity/quality, thus improving welfare. A tax-subsidy policy is designed to achieve efficiency. A monetary version lets us compare money and middlemen and further discuss policy.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"65 4","pages":"1657-1679"},"PeriodicalIF":1.5,"publicationDate":"2024-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141523454","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
THE IMPACT OF A LARGE DEPRECIATION ON THE COST OF LIVING OF RICH AND POOR CONSUMERS 大幅贬值对贫富消费者生活成本的影响
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-06-10 DOI: 10.1111/iere.12720
Anatoli Colicev, Joris Hoste, Jozef Konings
{"title":"THE IMPACT OF A LARGE DEPRECIATION ON THE COST OF LIVING OF RICH AND POOR CONSUMERS","authors":"Anatoli Colicev,&nbsp;Joris Hoste,&nbsp;Jozef Konings","doi":"10.1111/iere.12720","DOIUrl":"10.1111/iere.12720","url":null,"abstract":"<p>Using retailer scanner data, we investigate how a sharp and abrupt depreciation of the exchange rate affects consumers' cost of living. We find that the marginal cost of imported goods increased, whereas their retail markups decreased compared to domestic products. There was also a surge in the entry and exit of both foreign and local product varieties post-depreciation. Wealthier consumers, who spend more on imports, are hit harder by higher marginal costs but benefit from reduced markups and increased product diversity, unlike their less affluent counterparts.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"65 4","pages":"1625-1656"},"PeriodicalIF":1.5,"publicationDate":"2024-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/iere.12720","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141365093","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
SOVEREIGN UNCERTAINTY 主权不确定性
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-06-03 DOI: 10.1111/iere.12718
Edgar Silgado-Gómez
{"title":"SOVEREIGN UNCERTAINTY","authors":"Edgar Silgado-Gómez","doi":"10.1111/iere.12718","DOIUrl":"https://doi.org/10.1111/iere.12718","url":null,"abstract":"<p>This article investigates the impact and transmission of uncertainty regarding the future path of government finances on economic activity. Employing a data-rich approach, I introduce a novel proxy that captures uncertainty surrounding public finances, which I refer to as <i>sovereign uncertainty</i>. In an application to Spain, sovereign uncertainty shocks persistently dampen the economy in the medium run, whereas macro-financial uncertainty shocks originating in the private sector induce a negative short-lived response in real activity. In addition, a New Keynesian model rationalizes the empirical results, emphasizing the role of financial frictions and monetary policy decisions in transmitting the effects of sovereign uncertainty shocks.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"65 4","pages":"1985-2018"},"PeriodicalIF":1.5,"publicationDate":"2024-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142596313","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
ADD-ON PRICING OVER REGIONAL BUSINESS CYCLES: EVIDENCE FROM EXTENDED WARRANTIES 地区商业周期中的附加定价：来自延保的证据
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-06-01 DOI: 10.1111/iere.12710
Branko Bošković, Sacha Kapoor, Agnieszka Markiewicz, Barry Scholnick
{"title":"ADD-ON PRICING OVER REGIONAL BUSINESS CYCLES: EVIDENCE FROM EXTENDED WARRANTIES","authors":"Branko Bošković,&nbsp;Sacha Kapoor,&nbsp;Agnieszka Markiewicz,&nbsp;Barry Scholnick","doi":"10.1111/iere.12710","DOIUrl":"10.1111/iere.12710","url":null,"abstract":"<p>Add ons are features or services that can enhance the functionality or quality of base goods. They are pervasive. Yet we know little about the behavior of add-on prices over the business cycle. We use 10 years of data from a nationwide Canadian retailer to investigate the local cyclicality of extended warranty prices, a classic add on. We find base prices are acyclical. Warranty prices are procyclical because local stores use warranties to make demand for durable goods less price-elastic. We show add ons amplify responses to national business cycles and study the implications for inflation rate bias.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"65 4","pages":"2019-2046"},"PeriodicalIF":1.5,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141197100","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
SPLITTING THE DIFFERENCE IN INCOMPLETE-INFORMATION BARGAINING: THEORY AND WIDESPREAD EVIDENCE FROM THE FIELD 不完全信息讨价还价中的分歧分割：理论和来自实地的广泛证据
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-05-29 DOI: 10.1111/iere.12719
Daniel Keniston, Bradley J. Larsen, Shengwu Li, J.J. Prescott, Bernardo S. Silveira, Chuan Yu
{"title":"SPLITTING THE DIFFERENCE IN INCOMPLETE-INFORMATION BARGAINING: THEORY AND WIDESPREAD EVIDENCE FROM THE FIELD","authors":"Daniel Keniston,&nbsp;Bradley J. Larsen,&nbsp;Shengwu Li,&nbsp;J.J. Prescott,&nbsp;Bernardo S. Silveira,&nbsp;Chuan Yu","doi":"10.1111/iere.12719","DOIUrl":"10.1111/iere.12719","url":null,"abstract":"<p>This article documents a robust pattern from diverse sequential bargaining settings: agents favor offers that split the difference between the previous two offers. Our empirical settings include used cars, insurance claims, home sale, trade tariffs, a TV game show, eBay, and auto-rickshaws. These even-split offers are more likely to be accepted, less likely to spur exit by the opponent, and more likely to be followed by subsequent split-the-difference offers if bargaining continues. We propose several theoretical frameworks to explain this behavior, including an inference argument under which split-the-difference offers can be viewed as an equal split of the potential surplus.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"65 4","pages":"1911-1939"},"PeriodicalIF":1.5,"publicationDate":"2024-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141196805","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
LABOR MARKET INSTITUTIONS AND FERTILITY 劳动力市场制度和生育率
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-05-23 DOI: 10.1111/iere.12708
Nezih Guner, Ezgi Kaya, Virginia Sánchez-Marcos
{"title":"LABOR MARKET INSTITUTIONS AND FERTILITY","authors":"Nezih Guner,&nbsp;Ezgi Kaya,&nbsp;Virginia Sánchez-Marcos","doi":"10.1111/iere.12708","DOIUrl":"10.1111/iere.12708","url":null,"abstract":"<p>Some high-income countries have total fertility rates as low as one child. Using Spanish administrative data, we document that temporary contracts correlate with lower first birth rates. Also, women with children are less likely to work split-shift jobs with long breaks in the middle of the day. We build a life-cycle model where women decide on labor supply and fertility. We show that reforms eliminating duality or split-shift jobs raise women's labor participation, narrow the employment gap between mothers and nonmothers, and boost fertility for working women. These reforms, together with childcare subsidies, increase married women's fertility to 1.8 children.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"65 3","pages":"1551-1587"},"PeriodicalIF":1.5,"publicationDate":"2024-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141106692","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
2020 Klein Lecture—Investment and Subjective Uncertainty 2020 克莱因讲座--投资与主观不确定性
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-05-21 DOI: 10.1111/iere.12709
Nicholas Bloom, Steven J. Davis, Lucia Foster, Scott Ohlmacher, Itay Saporta-Eksten
{"title":"2020 Klein Lecture—Investment and Subjective Uncertainty","authors":"Nicholas Bloom,&nbsp;Steven J. Davis,&nbsp;Lucia Foster,&nbsp;Scott Ohlmacher,&nbsp;Itay Saporta-Eksten","doi":"10.1111/iere.12709","DOIUrl":"10.1111/iere.12709","url":null,"abstract":"<p>A longstanding challenge in evaluating the impact of uncertainty on investment is obtaining measures of managers’ subjective uncertainty. We address this challenge by using a detailed survey measure of uncertainty collected by the U.S. Census Bureau for approximately 25,000 manufacturing plants. We find three key results. First, investment is negatively associated with higher uncertainty. Second, uncertainty is also negatively related to employment growth and overall shipments growth, which highlights the damaging impact of uncertainty. Third, rental capital and temporary workers are positively correlated with uncertainty, demonstrating that businesses switch from less flexible to more flexible inputs under uncertainty.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"65 4","pages":"1591-1606"},"PeriodicalIF":1.5,"publicationDate":"2024-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141117949","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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