Monetary Policy and Birth Rates: The Effect of Mortgage Rate Pass-through on Fertility 27 February 2023 Fergus Cumming and Lisa DettlingThis paper examines whether monetary policy pass-through to mortgage interest rates affects household fertility decisions.
Beyond Dividing the Pie: Multi-Issue Bargaining in the Laboratory 21 February 2023 Olivier Bochet, Manshu Khanna, and Simon SiegenthalerWe design a laboratory experiment to study bargaining behavior when negotiations involve multiple issues. Parties must discover both trading prices and agreement scopes, giving rise to unexplored information structures and bargaining strategies.
Liberty, Security, and Accountability: The Rise and Fall of Illiberal Democracies 21 February 2023 Gabriele Gratton and Barton E. LeeWe study a model of the rise and fall of illiberal democracies. Voters value both liberty and economic security. In times of crisis, voters may prefer to elect an illiberal government that, by violating constitutional constraints, offers greater economic security but less liberty.
Job Matching with Subsidy and Taxation 21 February 2023 Fuhito Kojima, Ning Sun, and Ning Neil YuIn markets for indivisible resources such as workers and objects, subsidy and taxation for an agent may depend on the set of acquired resources and prices.
Are Executives in Short Supply? Evidence from Death Events 19 February 2023 Julien Sauvagnat and Fabiano SchivardiUsing exhaustive administrative data on Italian social security records, we construct measures of local labor market thickness for executives that vary by industry and location.
The Size and Life-cycle Growth of Plants: The Role of Productivity, Demand and Wedges 19 February 2023 Marcela Eslava, John Haltiwanger, and Nicolas UrdanetaWhat determines the distribution of establishments in terms of size and life-cycle growth? How are those determinants related to aggregate productivity?
Salience and Taxation with Imperfect Competition 19 February 2023 Kory Kroft, Jean-William P. Laliberté, René Lael-Vizcaíno, and Matthew J. NotowidigdoThis paper studies commodity taxation in a model featuring heterogeneous consumers, imperfect competition, and tax salience. We derive new formulas for the incidence and marginal excess burden of commodity taxation highlighting interactions between tax salience and market structure.
Credit Access, Selection, and Incentives in a Market for Asset Collateralized Loans: Evidence from Kenya 16 February 2023 William Jack, Michael Kremer, Joost de Laat, and Tavneet SuriWe study the potential for asset collateralization to expand access to credit in rural Kenya. Increasing the share of a loan for a durable agricultural asset that is collateralized by the physical asset itself (from zero to 96%) while reducing the share backed by financial assets increases loan take-up considerably, with only a very limited impact on repayment behavior and the lender’s profitability.
