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IDEAL DEFAULT FOR RESOLVING DISPUTES EFFICIENTLY 有效解决纠纷的理想默认值
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-10-10 DOI: 10.1111/iere.12737
Nejat Anbarci, Gorkem Celik
{"title":"IDEAL DEFAULT FOR RESOLVING DISPUTES EFFICIENTLY","authors":"Nejat Anbarci,&nbsp;Gorkem Celik","doi":"10.1111/iere.12737","DOIUrl":"https://doi.org/10.1111/iere.12737","url":null,"abstract":"<p>We study arbitration mechanisms where two parties to the dispute have single-peaked preferences over outcomes, represented by concave utility functions. The most preferred outcome of each party is her private information. By participating in an arbitration mechanism, the parties forfeit the default outcome, which is set without consideration of private preferences. We show that the ideal default outcome for efficient dispute resolution maximizes the sum of the reservation payoffs of the most difficult agent types to persuade to participate in the mechanism. This result is contrary to the conventional wisdom that an unattractive default could force the parties to agree.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"66 1","pages":"201-221"},"PeriodicalIF":1.5,"publicationDate":"2024-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/iere.12737","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143396771","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
ON THE ECONOMIC MECHANICS OF WARFARE 关于战争的经济机制
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-10-10 DOI: 10.1111/iere.12740
Guillaume Vandenbroucke
{"title":"ON THE ECONOMIC MECHANICS OF WARFARE","authors":"Guillaume Vandenbroucke","doi":"10.1111/iere.12740","DOIUrl":"https://doi.org/10.1111/iere.12740","url":null,"abstract":"<p>How do war-related expenditures affect economically relevant outcomes at a war's conclusion (e.g., prevailing side, duration, and casualties)? I present a model of attrition and characterize the effects of resources at a military conclusion (one side cannot fight anymore) and a political conclusion (one side quits). I analyze the Pacific War through the lenses of the model, both theoretically and empirically. I find that a parsimonious parameterization reproduces the aggregate patterns of destruction, measured in ship tonnage, for both belligerents.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"66 2","pages":"491-526"},"PeriodicalIF":1.5,"publicationDate":"2024-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143949938","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
INTERNATIONAL SPILLOVERS OF QUALITY REGULATIONS 质量法规的国际溢出效应
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-10-06 DOI: 10.1111/iere.12736
Luca Macedoni, Ariel Weinberger
{"title":"INTERNATIONAL SPILLOVERS OF QUALITY REGULATIONS","authors":"Luca Macedoni,&nbsp;Ariel Weinberger","doi":"10.1111/iere.12736","DOIUrl":"https://doi.org/10.1111/iere.12736","url":null,"abstract":"<p>This article investigates the international spillover effects of nondiscriminatory product regulations, for example, quality standards, in a multicountry general equilibrium framework with firm heterogeneity. In the presence of variable markups, when regulations are applied as a fixed cost consistent with stylized facts, they generate a positive spillover on the rest of the world as they induce entry of high-quality firms and improve the terms of trade of the nonimposing countries. The benefits of such regulations are not fully realized under noncooperative policy settings, rationalizing international cooperation. We estimate our model to quantify the effects of regulations on various welfare-relevant outcomes.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"66 1","pages":"453-484"},"PeriodicalIF":1.5,"publicationDate":"2024-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143396701","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
WAGE RISK, EMPLOYMENT RISK, AND THE RISE IN WAGE INEQUALITY 工资风险，就业风险，以及工资不平等的加剧
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-10-06 DOI: 10.1111/iere.12735
Ariel Mecikovsky, Felix Wellschmied
{"title":"WAGE RISK, EMPLOYMENT RISK, AND THE RISE IN WAGE INEQUALITY","authors":"Ariel Mecikovsky,&nbsp;Felix Wellschmied","doi":"10.1111/iere.12735","DOIUrl":"https://doi.org/10.1111/iere.12735","url":null,"abstract":"<p>U.S. male residual wage inequality rose, and the employment rate fell between 1983 and 2013. Using a structural labor market model, we show that rising idiosyncratic wage risk and lower taxes at the bottom of the earnings distribution are the main forces behind rising wage inequality. The former contributes to the falling employment rate. Falling real wages and rising disability risk further depressed employment of workers without a college degree and rising exogenous job destruction depressed employment of workers with a college degree. Higher idiosyncratic risk entails large welfare losses with the largest losses among workers without a college degree.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"66 2","pages":"567-594"},"PeriodicalIF":1.5,"publicationDate":"2024-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143950171","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
2023 KLEIN LECTURE—CAPITAL AND WAGES 资本和工资
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-09-13 DOI: 10.1111/iere.12733
Daron Acemoglu
{"title":"2023 KLEIN LECTURE—CAPITAL AND WAGES","authors":"Daron Acemoglu","doi":"10.1111/iere.12733","DOIUrl":"10.1111/iere.12733","url":null,"abstract":"<p>Does capital accumulation increase labor demand and wages? Neoclassical production functions, where capital and labor are q-complements, ensure that the answer is yes, so long as labor markets are competitive. This result critically depends on the assumption that capital accumulation does not change the technologies being developed and used. I adapt the theory of endogenous technological change to investigate this question when technology also responds to capital accumulation. I show that there are strong parallels between the relationship between capital and wages and existing results on the conditions under which equilibrium factor demands are upward-sloping (e.g., Acemoglu, <i>Econometrica</i> 75(5) (2007), 1371–410). Extending this framework, I provide intuitive conditions and simple examples where a greater capital stock leads to lower wages, because it triggers more automation. I then offer an endogenous growth model with a menu of technologies where equilibrium involves choices over both the extent of automation and the rate of growth of labor-augmenting productivity. In this framework, capital accumulation and technological change in the long run are associated with wage growth, but an increase in the saving rate increases the extent of automation, and initially reduces the wage rate and can subsequently depress its long-run growth rate.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"66 1","pages":"3-24"},"PeriodicalIF":1.5,"publicationDate":"2024-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/iere.12733","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142260038","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
NONSTANDARD CHOICE IN MATCHING MARKETS 匹配市场中的非标准选择
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-09-13 DOI: 10.1111/iere.12734
Gian Caspari, Manshu Khanna
{"title":"NONSTANDARD CHOICE IN MATCHING MARKETS","authors":"Gian Caspari,&nbsp;Manshu Khanna","doi":"10.1111/iere.12734","DOIUrl":"10.1111/iere.12734","url":null,"abstract":"<p>We explore the possibility of designing matching mechanisms that can accommodate nonstandard choice behavior. We pin down the necessary and sufficient conditions on participants' choice behavior for the existence of stable and incentive-compatible mechanisms. Our results imply that well-functioning matching markets can be designed to adequately accommodate a plethora of choice behaviors, including the standard behavior consistent with preference maximization. To illustrate the significance of our results in practice, we show that a simple modification in a commonly used matching mechanism enables it to accommodate nonstandard choice behavior.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"66 2","pages":"757-786"},"PeriodicalIF":1.5,"publicationDate":"2024-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142260039","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
SELF-EMPLOYMENT AND LABOR MARKET RISKS 自营职业和劳动力市场风险
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-09-11 DOI: 10.1111/iere.12732
Richard Audoly
{"title":"SELF-EMPLOYMENT AND LABOR MARKET RISKS","authors":"Richard Audoly","doi":"10.1111/iere.12732","DOIUrl":"10.1111/iere.12732","url":null,"abstract":"<p>I study the labor market risks associated with self-employment. I document that the self-employed are subject to larger earnings fluctuations than employees and frequently transition into unemployment. I analyze the provision of benefits targeted at these risks using a calibrated search model with (i) precautionary savings, (ii) work opportunities in paid- and self-employment, and (iii) skill heterogeneity. Extending the U.S. unemployment insurance scheme to the self-employed increases the transition rate from self-employment to unemployment and yields an unequal benefits to contributions ratio across skill groups. At the calibrated parameters, the self-employed in the middle of the skill distribution lose welfare.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"66 2","pages":"661-686"},"PeriodicalIF":1.5,"publicationDate":"2024-09-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142214029","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
INVENTORIES, INPUT COSTS, AND PRODUCTIVITY GAINS FROM TRADE LIBERALIZATIONS 贸易自由化带来的库存、投入成本和生产率收益
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-08-31 DOI: 10.1111/iere.12731
Shafaat Yar Khan, Armen Khederlarian
{"title":"INVENTORIES, INPUT COSTS, AND PRODUCTIVITY GAINS FROM TRADE LIBERALIZATIONS","authors":"Shafaat Yar Khan,&nbsp;Armen Khederlarian","doi":"10.1111/iere.12731","DOIUrl":"10.1111/iere.12731","url":null,"abstract":"<p>Sourcing internationally allows firms to access cheaper or better inputs but increases logistical costs, particularly through higher inventory holdings. This article examines the productivity gains from trade liberalizations accounting for inventory costs—typically omitted from revenue-based measures of productivity. In model simulations, we show that omitting these overestimates the effect of input tariffs on productivity and that controlling for inventories in the estimation of productivity corrects the bias. We document these facts during India's 1990s reforms. First, firms' inventories increase strongly with imports. Second, productivity gains drop by 20–50% once inventory costs are accounted for.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"66 1","pages":"175-199"},"PeriodicalIF":1.5,"publicationDate":"2024-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142214030","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
CONSTANT DISCOUNTING, TEMPORAL INSTABILITY, AND DYNAMIC INCONSISTENCY IN DENMARK: A LONGITUDINAL FIELD EXPERIMENT 丹麦的恒定折扣、时间不稳定性和动态不一致性：纵向实地实验
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-08-31 DOI: 10.1111/iere.12729
Glenn W. Harrison, Morten I. Lau, Hong Il Yoo
{"title":"CONSTANT DISCOUNTING, TEMPORAL INSTABILITY, AND DYNAMIC INCONSISTENCY IN DENMARK: A LONGITUDINAL FIELD EXPERIMENT","authors":"Glenn W. Harrison,&nbsp;Morten I. Lau,&nbsp;Hong Il Yoo","doi":"10.1111/iere.12729","DOIUrl":"10.1111/iere.12729","url":null,"abstract":"<p>Claims that individuals have dynamically inconsistent preferences are usually made by studying individual discount rates over different time delays, but where those discount rates are elicited at a single point in time. However, to test dynamic inconsistency one has to know if the same subject has a different discounting function <i>at a later point in time</i>. We evaluate data from a longitudinal field experiment undertaken with a nationally representative sample of the adult Danish population. We cannot reject the hypothesis of constant discounting at the population level, but we reject the hypotheses of temporal stability and dynamic consistency.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"66 1","pages":"363-392"},"PeriodicalIF":1.5,"publicationDate":"2024-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/iere.12729","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142214032","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
MACRO UNCERTAINTY, UNEMPLOYMENT RISK, AND CONSUMPTION DYNAMICS 宏观不确定性、失业风险和消费动态
IF 1.5 3区 经济学
International Economic Review Pub Date : 2024-08-23 DOI: 10.1111/iere.12730
Joonseok Oh, Anna Rogantini Picco
{"title":"MACRO UNCERTAINTY, UNEMPLOYMENT RISK, AND CONSUMPTION DYNAMICS","authors":"Joonseok Oh,&nbsp;Anna Rogantini Picco","doi":"10.1111/iere.12730","DOIUrl":"10.1111/iere.12730","url":null,"abstract":"<p>Households' income heterogeneity is important to explain consumption dynamics in response to aggregate macro uncertainty: an increase in uncertainty generates a consumption drop that is stronger for lower-income households. At the same time, labor markets are strongly responsive to macro uncertainty. A heterogeneous-agent New Keynesian model with search-and-matching frictions in the labor market can account for these empirical findings. The mechanism at play is a feedback loop between lower-income households who, being subject to higher unemployment risk, contract consumption more in response to heightened uncertainty, and firms that post fewer vacancies following a drop in demand.</p>","PeriodicalId":48302,"journal":{"name":"International Economic Review","volume":"66 1","pages":"287-312"},"PeriodicalIF":1.5,"publicationDate":"2024-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142214033","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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