Journal of Political Economy(JPE) 2023年8月刊—目录与摘要分享

　　今天在这里分享一本优秀的期刊——Journal of Political Economy(JPE) ，很多作者对其目录摘要比较了解，今天分享的部分目录摘要可供各位学者参考：

　　期刊名称：Journal of Political Economy JPE

　　刊发卷期：Volume 131, Number 8

　　刊发时间：August 2023

　　期刊等级：ABS 4*

　　出版厂商：University of Chicago Press

　　目录

　　1.Understanding Cross-Country Differences in Health Status and Expenditures: Health Prices Matter

　　Raquel Fonseca, François Langot, Pierre-Carl Michaud, and Thepthida Sopraseuth

　　2.Recipes and Economic Growth: A Combinatorial March Down an Exponential Tail

　　Charles I. Jones

　　3.Identifying the Effect of Persuasion

　　Sung Jae Jun and Sokbae Lee

　　4.What Happened to US Business Dynamism?

　　Ufuk Akcigit and Sina T. Ates

　　5.Determinacy without the Taylor Principle

　　George-Marios Angeletos and Chen Lian

　　6.Returns to On-the-Job Soft Skills Training

　　Achyuta Adhvaryu, Namrata Kala, and Anant Nyshadham

　　7.Dynamic Bank Expansion: Spatial Growth, Financial Access, and Inequality

　　Yan Ji, Songyuan Teng, and Robert M. Townsend

　　摘要

　　1.Understanding Cross-Country Differences in Health Status and Expenditures: Health Prices Matter

　　Raquel Fonseca, François Langot, Pierre-Carl Michaud, and Thepthida Sopraseuth

　　Abstract Using a general equilibrium heterogeneous agent model featuring health production, we quantify the contribution of health price in explaining cross-country differences in health expenditures and health status. Considering other country-specific explanatory factors, US health prices are estimated to be 33% higher than those of European countries. This price differential explains more than 60% of the difference in health expenditures and more than half of the difference in health status between Europe and the United States. Despite its large impact at the aggregate level, these price differences increase the lifetime cost of living of Americans by 2 percentage points.

　　2.Recipes and Economic Growth: A Combinatorial March Down an Exponential Tail

　　Charles I. Jones

　　Abstract As Romer and Weitzman emphasized in the 1990s, new ideas are often combinations of existing ideas, an insight absent from recent models. In Kortum's research around the same time, ideas are draws from a probability distribution, and Pareto distributions play a crucial role. Why are combinations missing, and do we really need such strong distributional assumptions to get exponential growth? This paper demonstrates that combinatorially growing draws from standard thin-tailed distributions lead to exponential growth; Pareto is not required. More generally, it presents a theorem linking the max extreme value to the number of draws and the shape of the upper tail for probability distributions.

　　3.Identifying the Effect of Persuasion

　　Sung Jae Jun and Sokbae Lee

　　Abstract This paper examines a commonly used measure of persuasion whose precise interpretation has been obscure in the literature. By using the potential outcome framework, we define the causal persuasion rate by a proper conditional probability of taking the action of interest with a persuasive message conditional on not taking the action without the message. We then formally study identification under empirically relevant data scenarios and show that the commonly adopted measure generally does not estimate—but often overstates—the causal rate of persuasion. We discuss several new parameters of interest and provide practical methods for causal inference.

　　4.What Happened to US Business Dynamism?

　　Ufuk Akcigit and Sina T. Ates

　　Abstract We attempt to understand potential common forces behind rising market concentration and a slowdown in business dynamism in the US economy, through a micro-founded general equilibrium model of endogenous firm dynamics. The model captures the strategic behavior between competing firms, its effect on their innovation decisions, and the resulting “best-versus-the-rest” dynamics. We consider multiple potential mechanisms that can drive the observed changes and use the calibrated model to assess their relative importance, with particular attention to the implied transitional dynamics. Our results highlight the dominant role of a decline in the intensity of knowledge diffusion from frontier firms to laggard ones. We present new evidence that corroborates a declining knowledge diffusion in the economy.

　　5.Determinacy without the Taylor Principle

　　George-Marios Angeletos and Chen Lian

　　Abstract Our understanding of monetary policy is complicated by an indeterminacy problem: the same path for the nominal interest rate is consistent with multiple equilibrium paths for inflation and output. We offer a potential resolution by showing that small frictions in social memory and intertemporal coordination can remove this indeterminacy. Under our perturbations, the unique equilibrium is the same as that selected by the Taylor principle, but it no more relies on it; monetary policy is left to play only a stabilization role; and fiscal policy needs to be Ricardian even when monetary policy is passive.

　　6.Returns to On-the-Job Soft Skills Training

　　Achyuta Adhvaryu, Namrata Kala, and Anant Nyshadham

　　Abstract We estimate productivity gains of 13.5% from workplace soft skills training among Indian garment workers. Productivity gains are greater when trainees work on joint operations alongside other coworkers, consistent with gains being driven by improved teamwork and collaboration. Furthermore, untreated coworkers on the treated production lines also show increased productivity. These improvements in the teamwork substitute for managerial attention. Despite productivity gains and higher promotion probabilities among treated workers, there are no effects on wages or retention, consistent with frictions in this labor market. Consequently, the net return to the firm was large: 256% 8 months after program completion.

　　7.Dynamic Bank Expansion: Spatial Growth, Financial Access, and Inequality

　　Yan Ji, Songyuan Teng, and Robert M. Townsend

　　Abstract We propose a model with local spatial markets and heterogeneous agents to understand and evaluate the geographic expansion of bank branches after banking deregulation in Thailand. The model features heterogeneity in financial frictions across regions, with the costs of accessing credit and deposits depending on the distance from the nearest branch. Disciplined by micro estimates of the effects of branch openings, the model reproduces salient regional and aggregate patterns concerning occupational choice, financial access, and inequality. We apply the model to study two counterfactual financial sector policies in distant markets, one subsidizing branches and the other subsidizing household deposits.