学术前沿速递 |《The Review of Economic Studies》论文精选

 

本文精选了经济学国际顶刊《The Review of Economic Studies》近期发表的论文,提供经济学研究领域最新的学术动态。

 

Immigration and Redistribution

原刊和作者:

The Review of Economic Studies Volume 90 Issue 1

Alberto Alesina (Harvard)

Armando Miano (Harvard)

Stefanie Stantcheva (Harvard)

Abstract

Does immigration change support for redistribution? We design and conduct large-scale surveys and experiments in six countries to investigate how people perceive immigrants and how these perceptions influence their support for redistribution. We find striking misperceptions about the number and characteristics of immigrants. In all countries, respondents greatly overestimate the total number of immigrants, think immigrants are culturally and religiously more distant from them, and economically weaker—less educated, more unemployed, and more reliant on and favoured by government transfers—than they actually are. In the experimental part of our article, we show that simply making respondents think about immigration before asking questions about redistribution makes them support less redistribution, including actual donations to charities. The perception that immigrants are economically weaker and more likely to take advantage of the welfare system is strongly correlated with lower support for redistribution, much more so than the perceived cultural distance or the perceived share of immigrants. These findings are confirmed by further experimental evidence. Information about the true shares and origins of immigrants does not change support for redistribution. An anecdote about a “hard-working” immigrant has somewhat stronger effects but is unable to counteract the negative priming effect of making people think about immigration. Our results further suggest that narratives shape people’s views on immigration more deeply than hard facts.

Link: https://doi.org/10.1093/restud/rdac011

 

 

Measuring Belief-dependent Preferences without Data on Beliefs

原刊和作者:

The Review of Economic Studies Volume 90 Issue 1

Charles Bellemare (Université Laval)

Alexander Sebald (Copenhagen Business School)

Abstract

We derive bounds on the causal effect of belief-dependent preferences (reciprocity and guilt aversion) on choices in sequential two-player games without data on the (higher-order) beliefs of players. We show how informative bounds can be derived by exploiting a specific invariance property common to those preferences. We illustrate our approach by analysing data from an experiment conducted in Denmark. Our approach produces tight bounds on the causal effect of reciprocity in the games we consider. These bounds suggest there exists significant reciprocity in our population—a result also substantiated by the participants’ answers to a post-experimental questionnaire. On the other hand, our approach yields high implausible estimates of guilt aversion—participants would be willing, in some games, to pay at least three Danish crowns (DKK) to avoid letting others down by one DKK. We contrast our estimated bounds with point estimates obtained using data on stated higher-order beliefs, keeping all other aspects of the model unchanged. We find that point estimates fall within our estimated bounds, suggesting that elicited higher-order belief data in our experiment is weakly (if at all) affected by various reporting biases.

Link: https://doi.org/10.1093/restud/rdac023

 

 

What is a Good School, and Can Parents Tell? Evidence on the Multidimensionality of School Output

原刊和作者:

The Review of Economic Studies Volume 90 Issue 1

Diether W Beuermann (Inter-American Development Bank)

C Kirabo Jackson (Northwestern University)

Laia Navarro-Sola (Stockholm University)

Francisco Pardo (University of Texas at Austin)

Abstract

To explore whether schools’ causal impacts on test scores measure their overall impact on students, we exploit plausibly exogenous school assignments and data from Trinidad and Tobago to estimate the causal impacts of individual schools on several outcomes. Schools’ impacts on high-stakes tests are weakly related to impacts on important outcomes such as arrests, dropout, teen motherhood, and formal labour market participation. To examine if parents’ school preferences are related to these causal impacts, we link them to parents’ ranked lists of schools and employ discrete-choice models to infer preferences for schools. Parents choose schools that improve high-stakes tests even conditional on peer quality and average outcomes. Parents also choose schools that reduce criminality and teen motherhood and increase labour market participation. School choices among parents of low-achieving students are relatively more strongly related to schools’ impacts on non-test-score outcomes, while the opposite is true for parents of high-achieving students. These results suggest that evaluations based solely on test scores may be misleading about the benefits of school choice (particularly for low-achieving students), and education interventions more broadly.

Link: https://doi.org/10.1093/restud/rdac025

 

 

Are Marriage-Related Taxes and Social Security Benefits Holding Back Female Labour Supply?

原刊和作者:

The Review of Economic Studies Volume 90 Issue 1

Margherita Borella (University of Torino)

Mariacristina De Nardi (University of Minnesota)

Fang Yang (Louisiana State University)

Abstract

In the US, both taxes and old-age social security benefits depend on one’s marital status and tend to reduce the labour supply of the secondary earner. To what extent are these provisions holding back the female labour supply? We estimate a rich dynamic life-cycle model of labour supply and savings for couples and singles using the Method of Simulated Moments for the 1945 and 1955 birth cohorts. Our model matches well the life-cycle profiles of labour market participation, hours, and savings for married and single people, and generates plausible elasticities of labour supply. It implies that eliminating these marriage-related provisions would drastically increase the participation of married women over their entire life cycle, reduce the participation of married men after age 60, and increase savings. If the resulting government surplus were used to lower income taxation, there would be large welfare gains for the vast majority of the population. These results hold for both cohorts, including the later one, which has participation similar to that of more recent generations.

Link: https://doi.org/10.1093/restud/rdac018

 

 

A World Equilibrium Model of the Oil Market Get access Arrow

The Review of Economic Studies Volume 90 Issue 1

Gideon Bornstein (University of Pennsylvania)

Per Krusell (Institute for International Economic Studies)

Sergio Rebelo (Northwestern University)

Abstract

We use new, comprehensive micro data on oil fields to build and estimate a structural model of the oil industry embedded in a general equilibrium model of the world economy. In the model, firms that belong to Organization of the Petroleum Exporting Countries (OPEC) act as a cartel. The remaining firms are a competitive fringe. We use the model to study the macroeconomic impact of the advent of fracking. Fracking weakens the OPEC cartel, leading to a large long-run decline in oil prices. Fracking also reduces the volatility of oil prices in the long run because fracking firms can respond more quickly to changes in oil demand.

Link: https://doi.org/10.1093/restud/rdac019

发布日期:2023-02-28浏览次数:
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