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��ࡱ�>�� z\����y��������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������u �r�bjbj�n�n2,��a��a �������""������������8�4-��mlaaaaauuusmumumumumumum$`o�r<�m�uuuuu�m��aa4�m���u��a�asm�usm���a�����k����������_m�m0�m�rr ^rr��v0rr�kj�uu�uuuuu�m�m�luuu�muuuu��������������������������������������������������������������������rruuuuuuuuu"q s: journal of political economy volume 130, issue 11, nov 2022 1. title: within-firm productivity dispersion: estimates and implications. authors: orr, scott. abstract: this paper develops a flexible recipe for identifying unobserved input allocations, as well as quantity- and revenue-based total factor productivity (tfp) across product lines, for multiproduct producers, using demand- and supply-side information. applying variants of this recipe to a panel of plants manufacturing machinery in india from 2000�2007 yields sizable within-plant tfp differences. removing an average plant's lowest-performing product increases the unweighted average of plant-level revenue-based productivity by 10%�65%. a 1 standard deviation decline in product-level revenue-based tfp generates around a 6 percentage point increase in the probability of dropping that product. 2. title: central bank digital currency: welfare and policy implications. authors: williamson, stephen. abstract: a model of banking and means of payment is constructed to analyze the effects of the introduction of central bank digital currency (cbdc). that cbdc is interest bearing is not an advantage, as replacement of physical currency with cbdc does not expand the attainable set of equilibrium allocations. cbdc can increase welfare by competing with private means of payment and shifting safe assets from the private banking sector to what is effectively a narrow banking facility. this uses the aggregate stock of safe collateral more efficiently, given incentive problems in private banking. 3. title: poor and rational: decision-making under scarcity. authors: fehr, dietmar; fink, g�nther; jack, b. kelsey. abstract: we investigate the link between poverty and decision-making in a sample of farmers in zambia, who were given the opportunity to exchange randomly assigned household items for alternative items of similar value. analyzing a total of 5,842 trading decisions and leveraging multiple sources of variation in financial constraints, we show that exchange asymmetries decrease in magnitude when participants are more constrained. this result is robust to experimental procedures and is not mediated by changes in cognitive performance. consistent with the interpretation that scarcity leads to more rational decisions by increasing the utility loss from forgone trading, we show that trading probabilities go up when the market value of the items is exogenously increased. 4. title: caring or pretending to care? social impact, firms' objectives, and welfare. authors: fioretti, michele. abstract: many firms claim that "social impact" influences their strategies. this paper develops a structural model that quantifies social impact as the sum of surpluses to a firm and its stakeholders. with data from a for-profit firm whose prosocial expenditures are measurable and salient to consumers, the analysis shows that the firm spends prosocially beyond profit maximization, thereby increasing welfare substantially. incentivizing a standard profit-maximizing firm to behave similarly would require subsidies amounting to 58% of its prosocial expenditures, because consumers' willingness to pay is relatively inelastic to prosocial expenses. therefore, social impact resembles a self-imposed welfare-enhancing tax with limited pass-through. 5. title: mismatch cycles. authors: baley, isaac; figueiredo, ana; ulbricht, robert. abstract: this paper studies the cyclical dynamics of skill mismatch and quantifies its impact on labor productivity. we build a tractable directed search model, in which workers differ in skills along multiple dimensions and sort into jobs with heterogeneous skill requirements. skill mismatch arises because of information frictions and is prolonged by search frictions. estimated to the united states, the model replicates salient business cycle properties of mismatch. job transitions in and out of bottom job rungs, combined with career mobility, are key to account for the empirical fit. the model provides a novel narrative for the scarring effect of unemployment. 6. title: electoral accountability and control in us cities. authors: sieg, holger; yoon, chamna. abstract: we consider a dynamic game of electoral competition with adverse selection, moral hazard, and imperfect monitoring. we show that this dynamic game can be estimated using a flexible maximum likelihood estimator. we implement the estimator using data from recent mayoral elections in large us cities with binding two-term limits. our empirical findings suggest that there are large differences in performance among different types of mayors. we find an economically important degree of policy responsiveness, with effort accounting for a larger fraction of the total effect than selection. finally, we evaluate several institutional reforms that promise to increase policy responsiveness.     $'/1367;<=?h�����ʸʩʸ��wobtf9thj�5�ojqj^jo(h�=eh�=e5�ojqj^jh�"�hu<�5�ojqj^jh�ud5�ojqj^jo(h�"�h�"�o(&h�"�h�"�5�cjojqj^jajo(h�=e5�cjojqj^jajh 2e5�cjojqj^jajh�)r5�cjojqj^jaj#h�=eh�=e5�cjojqj^jaj#h�"�h�"�5�cjojqj^jaj h$-�5�cjojqj^jajo(#h�)rh�)r5�cjojqj^jaj<=>��^ _ � � z������s������������������������gd�psgd)w�gdex�gd$?�gdto�gd�l$gd%j,gdu<�gd�"�$a$gdt4������] ^ _ ` b h i � � � � � � � � 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