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Markets With Within-Type Adverse Selection, Anh Nguyen, Teck Yong Tan
Markets With Within-Type Adverse Selection, Anh Nguyen, Teck Yong Tan
Department of Economics: Faculty Publications
We study bilateral trade with a seller owning multiple units of a good, where each unit is of binary quality. The seller privately knows her “type”—defined by the number of lemons that she owns — and which units in her endowments are the lemons (“withintype adverse selection”). We characterize the set of informationally constrained Pareto optimal allocations and show that every such allocation must involve a trade characterized by a threshold λ∗, with types having less (more) than λ∗ units of lemons selling only their lemons (selling their entire endowment). We provide conditions for a …
A General Equilibrium Assessment Of Covid-19’S Labor Productivity Impacts On China’S Regional Economies, Xi He, Edward J. Balistreri, Gyu Hyun Kim, Wendong Zhang
A General Equilibrium Assessment Of Covid-19’S Labor Productivity Impacts On China’S Regional Economies, Xi He, Edward J. Balistreri, Gyu Hyun Kim, Wendong Zhang
Department of Economics: Faculty Publications
This study introduces a database for analyzing COVID-19’s impacts on China’s regional economies. This database contains various sectoral and regional economic outcomes at the weekly and monthly level. In the context of a general equilibrium trade model, we first formulate a mathematical representation of the Chinese regional economy and calibrate the model with China’s multi-regional input-output table. We then utilize the monthly provincial and sectoral value-added and national trade series to estimate COVID-19’s province-by-month labor-productivity impacts from February 2020 to September 2020. As a year-on-year comparison, relative to February 2019 levels, we find an average 39.5% decrease in labor productivity …
When Sarah Meets Lawrence: The Effects Of Coeducation On Women's College Major Choices, Avery Calkins, Ariel J. Binder, Dana Shaat, Brenden Timpe
When Sarah Meets Lawrence: The Effects Of Coeducation On Women's College Major Choices, Avery Calkins, Ariel J. Binder, Dana Shaat, Brenden Timpe
Department of Economics: Faculty Publications
We leverage variation in the adoption of coeducation by U.S. women's colleges to study how exposure to a mixed-gender collegiate environment affects women's human capital investments. Our event-study analyses of newly collected historical data find a 3.0-3.5 percentage-point (30-33%) decline in the share of women majoring in STEM. While coeducation caused a large influx of male peers and modest increase in male faculty, we find no evidence that it altered the composition of the female student body or other gender-neutral inputs. Extrapolation of our main estimate suggests that coeducational environments explain 36% of the current gender gap in STEM.
Mathematics Of Generalized Versions Of The Melitz, Krugman, And Armington Models With Detailed Derivations, Edward J. Balistreri, David G. Tarr
Mathematics Of Generalized Versions Of The Melitz, Krugman, And Armington Models With Detailed Derivations, Edward J. Balistreri, David G. Tarr
Department of Economics: Faculty Publications
We provide detailed textbook style mathematical derivations of an extended version of the heterogenous firms model of Melitz (2003), as well as the Armington (1969) and Krugman (1980) models. Our model of heterogeneous firms extends the model of Melitz (2003) by allowing multiple sectors, intermediates, heterogeneous regions based on data, labor-leisure choice, initial heterogeneous tariffs, multiple factors of production, the possibility of sector-specific inputs and trade imbalances based on data, and we incorporate global and unilateral tariff policy shocks. Although the models in this paper are extensions in numerous directions of the Melitz trade model of heterogeneous firms, the pedagogical …