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Contracting for Government Services : Theory and Evidence from U.S. Cities

Levin, Jonathan - 2007

Local governments can provide services with their own employees or by contracting with private or public sector providers. We develop a model of this "make-or-buy" choice that highlights the trade-off between productive efficiency and the costs of contract administration. We construct a dataset...

Persistent link: https://www.econbiz.de/10012465302

The Economics of Cultural Transmission and Socialization

Bisin, Alberto - 2010

Cultural transmission arguably plays an important role in the determination of many fundamental preference traits (e.g., discounting, risk aversion and altruism) and most cultural traits, social norms, and ideological tenets ( e.g., attitudes towards family and fertility practices, and attitudes...

Persistent link: https://www.econbiz.de/10012462145

The Life Cycles of Modern Artists : Theory, Measurement, and Implications

Galenson, David W. - 2003

There have been two very different life cycles for important modern artists: some, including Picasso, have made their greatest contributions early in their careers, whereas others, like C‚zanne, have produced their best work late in their lives. Art's young geniuses have worked deductively to...

Persistent link: https://www.econbiz.de/10012469161

Educational Production

Lazear, Edward P. - 1999

their classmates do worse. The theory presented below reconciles all of these facts by recognizing that classroom teaching … ranges away from equilibrium levels will adversely affect educational output. The theory argues for a particular non … by lowering class size. The theory provides a measurable and operational way to define school quality that can be tested …

Persistent link: https://www.econbiz.de/10012471435

Ownership and Use Taxes as Congestion Correcting Instruments

Chia, Ngee-Choon - 2001

In countries, such as Singapore, that have implemented vehicle congestion policies, recent years have seen a shift towards motor vehicle taxes based on car use. Ownership taxes reduce the number of cars on the road, leaving the price per trip largely unaffected. Use taxes such as fuel taxes and...

Persistent link: https://www.econbiz.de/10012470446

Multiple Equilibria in Open Economy Models with Collateral Constraints : Overborrowing Revisited

Schmitt-Grohé, Stephanie - 2016

This paper establishes the existence of multiple equilibria in infinite-horizon open- economy models in which the value of tradable and nontradable endowments serves as collateral. In this environment, the economy displays self-fulfilling financial crises in which pessimistic views about the...

Persistent link: https://www.econbiz.de/10012456411

Safe Asset Scarcity and Aggregate Demand

Caballero, Ricardo J. - 2016

We explore the consequences of safe asset scarcity on aggregate demand in a stylized IS-LM/Mundell Fleming environment. Acute safe asset scarcity forces the economy into a "safety trap" recession. In the open economy, safe asset scarcity spreads from one country to the other via capital flows,...

Persistent link: https://www.econbiz.de/10012456630

Migration, Congestion Externalities, and the Evaluation of Spatial Investments

Dinkelman, Taryn - 2015

The direct benefits of infrastructure in developing countries can be large, but if new infrastructure induces in-migration, congestion of other local publicly provided goods may offset the direct benefits. Using the example of rural household electrification in South Africa, we demonstrate the...

Persistent link: https://www.econbiz.de/10012457824

Incorporating Search and Sales Information in Demand Estimation

Hortaçsu, Ali; Natan, Olivia R.; Parsley, Hayden; … - National Bureau of Economic Research - 2021

We propose an approach to modeling and estimating discrete choice demand that allows for a large number of zero sale observations, rich unobserved heterogeneity, and endogenous prices. We do so by modeling small market sizes through Poisson arrivals. Each of these arriving consumers then solves...

Persistent link: https://www.econbiz.de/10012794558

Causal Inference from Hypothetical Evaluations

Bernheim, Bert Douglas; Björkegren, Daniel; Naecker, … - National Bureau of Economic Research - 2021

This paper explores methods for inferring the causal effects of treatments on choices by combining data on real choices with hypothetical evaluations. We propose a class of estimators, identify conditions under which they yield consistent estimates, and derive their asymptotic distributions. The...

Persistent link: https://www.econbiz.de/10012794643

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