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Actors in various settings have been increasingly relying on algorithmic tools to support their decision-making. Much … - decision-makers cannot verify the quality of such goods, even after "consuming" them. Based on this finding, we test two … algorithm, it remarkably decreases human decision-making performance. In the second treatment, we reveal the task's correct …
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This paper develops a new framework for examining the distributional consequences of international trade that incorporates firm and worker heterogeneity, search and matching frictions in the labor market, and screening of workers by firms. Larger firms pay higher wages and exporters pay higher...
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The standard New Keynesian model suffers from the so-called .macro-micro pricing conflict: in order to match the dynamics of inflation implied by macroeconomic data, the model needs to assume an average duration of price contracts which is much longer than what is observed in micro data. Here I...
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