Review of Economic Studies最新文献_第4页

Correction to: Vintage-Specific Driving Restrictions 修正:特定年份的驾驶限制

IF 5.8 1区经济学

Review of Economic Studies Pub Date : 2023-07-16 DOI: 10.1093/restud/rdad076

引用次数: 0

How Responsive are Wages to Firm-Specific Changes in Labor Demand? Evidence from Idiosyncratic Export Demand Shocks 工资对企业特定劳动力需求变化的反应如何?来自特殊出口需求冲击的证据

IF 5.8 1区经济学

Review of Economic Studies Pub Date : 2023-07-12 DOI: 10.1093/restud/rdad069

A. Garin, Filipe Silvério

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引用次数: 3

Dynamic Opinion Aggregation: Long-Run Stability and Disagreement 动态意见聚合:长期稳定与分歧

IF 5.8 1区经济学

Review of Economic Studies Pub Date : 2023-07-11 DOI: 10.1093/restud/rdad072

S. Cerreia-Vioglio, Roberto Corrao, Giacomo Lanzani

引用次数: 8

Heterogeneous Paths of Industrialization 工业化的异质性路径

1区经济学

Review of Economic Studies Pub Date : 2023-06-29 DOI: 10.1093/restud/rdad066

Federico Huneeus, Richard Rogerson

引用次数: 0

Changes in Social Network Structure in Response to Exposure to Formal Credit Markets 社会网络结构的变化对正规信贷市场的反应

1区经济学

Review of Economic Studies Pub Date : 2023-06-27 DOI: 10.1093/restud/rdad065

Abhijit Banerjee, Emily Breza, Arun G Chandrasekhar, Esther Duflo, Matthew O Jackson, Cynthia kinnan

{"title":"Changes in Social Network Structure in Response to Exposure to Formal Credit Markets","authors":"Abhijit Banerjee, Emily Breza, Arun G Chandrasekhar, Esther Duflo, Matthew O Jackson, Cynthia kinnan","doi":"10.1093/restud/rdad065","DOIUrl":"https://doi.org/10.1093/restud/rdad065","url":null,"abstract":"Abstract We show that the entry of formal financial institutions can have far-reaching and long-lasting impacts on informal lending and social networks more generally. We first study the introduction of microfinance in 75 villages in Karnataka, India, 43 of which were exposed to microfinance. Using difference-in-differences, we show that networks shrank more in exposed villages. Moreover, links between households that were both unlikely to borrow from microfinance were at least as likely to disappear as links involving likely borrowers. We replicate these surprising findings in the context of a randomised controlled trial (RCT) in Hyderabad, where a microfinance institution randomly selected 52 of 104 neighbourhoods to enter first. Four years after all neighbourhoods were treated, households in early-entry neighbourhoods had credit access longer and had larger loans. We again find fewer social relationships between households in these neighbourhoods, even among those ex-ante unlikely to borrow. Because the results suggest global spillovers, atypical in usual models of network formation, we develop a new dynamic model of network formation that emphasizes chance meetings, where efforts to socialize generate a global network-level externality. Finally, we analyse informal borrowing and the sensitivity of consumption to income fluctuations. Households unlikely to take up microcredit suffer the greatest loss of informal borrowing and risk sharing, underscoring the global nature of the externality.","PeriodicalId":48449,"journal":{"name":"Review of Economic Studies","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135399699","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

Memory and Markets 记忆与市场

1区经济学

Review of Economic Studies Pub Date : 2023-06-27 DOI: 10.1093/restud/rdad067

Sergey Kovbasyuk, Giancarlo Spagnolo

引用次数: 0

Experimentation in Endogenous Organizations 内源性组织中的实验

IF 5.8 1区经济学

Review of Economic Studies Pub Date : 2023-06-26 DOI: 10.1093/restud/rdad064

Germán Gieczewski, Svetlana Kosterina

引用次数: 0

The Darwinian Returns to Scale 达尔文的规模回报

1区经济学

Review of Economic Studies Pub Date : 2023-06-09 DOI: 10.1093/restud/rdad061

D. R. Baqaee, Emmanuel Farhi

{"title":"The Darwinian Returns to Scale","authors":"D. R. Baqaee, Emmanuel Farhi","doi":"10.1093/restud/rdad061","DOIUrl":"https://doi.org/10.1093/restud/rdad061","url":null,"abstract":"Abstract How does an increase in market size, say due to globalization, affect welfare? We study this question using a model with monopolistic competition, heterogeneous markups, and fixed costs. We characterize changes in welfare and decompose changes in allocative efficiency into three different effects: (1) reallocations across firms with heterogeneous price elasticities due to intensifying competition, (2) reallocations due to the exit of marginally profitable firms, and (3) reallocations due to changes in firms’ markups. Whereas the second and third effects have ambiguous implications for welfare, the first effect, which we call the Darwinian effect, always increases welfare regardless of the shape of demand curves. We nonparametrically calibrate demand curves with data from Belgian manufacturing firms and quantify our results. We find that mild increasing returns at the microlevel can catalyze large increasing returns at the macrolevel. Between 70 and 90% of increasing returns to scale come from improvements in how a larger market allocates resources. The lion’s share of these gains are due to the Darwinian effect, which increases the aggregate markup and concentrates sales and employment in high-markup firms. This has implications for policy: an entry subsidy, which harnesses Darwinian reallocations, can improve welfare even when there is more entry than in the first best.","PeriodicalId":48449,"journal":{"name":"Review of Economic Studies","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135050879","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

Is the Social Safety Net a Long-Term Investment? Large-Scale Evidence From the Food Stamps Program 社会保障网络是一项长期投资吗?来自食品券计划的大规模证据

1区经济学

Review of Economic Studies Pub Date : 2023-06-08 DOI: 10.1093/restud/rdad063

Martha J Bailey, Hilary Hoynes, Maya Rossin-Slater, Reed Walker

引用次数: 2

The Slaughter of the Bison and Reversal of Fortunes on the Great Plains 大平原上野牛的屠杀和命运的逆转

1区经济学

Review of Economic Studies Pub Date : 2023-05-30 DOI: 10.1093/restud/rdad060

Donn L Feir, Rob Gillezeau, Maggie E C Jones

{"title":"The Slaughter of the Bison and Reversal of Fortunes on the Great Plains","authors":"Donn L Feir, Rob Gillezeau, Maggie E C Jones","doi":"10.1093/restud/rdad060","DOIUrl":"https://doi.org/10.1093/restud/rdad060","url":null,"abstract":"Abstract In the late nineteenth century, the North American bison was brought to the brink of extinction in less than two decades. We demonstrate that the loss of the bison had immediate, negative consequences for the Native Americans who relied on them and ultimately resulted in a persistent reversal of fortunes. Once amongst the tallest people in the world, the generations of bison-reliant people born after the slaughter lost their entire height advantage. By the early twentieth century, child mortality was 16 percentage points higher and the probability of reporting an occupation 19 percentage points lower in bison nations compared with nations that were never reliant on the bison. Throughout the latter half of the twentieth century and into the present, income per capita has remained 25% lower, on average, for bison nations. This persistent gap cannot be explained by differences in agricultural productivity, self-governance, or application of the Dawes Act. We provide evidence that this historical shock altered the dynamic path of development for formerly bison-reliant nations. We demonstrate that limited access to credit constrained the ability of bison nations to adjust through re-specialization and migration.","PeriodicalId":48449,"journal":{"name":"Review of Economic Studies","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135478829","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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: 1