Identification of Nonseparable Triangular Models With Discrete Instruments

We study the identification through instruments of a nonseparable function that relates a continuous outcome to a continuous endogenous variable. Using group and dynamical systems theories, we show that full identification can be achieved under strong exogeneity of the instrument and a dual monotonicity condition, even if the instrument is discrete. When identified, the model is also testable. Our results therefore highlight the identifying power of strong exogeneity when combined with monotonicity restrictions.     

邓小平指导新时期反腐败斗争特色初探

邓小平在领导改革开放和现代化建设的进程中,十分重视反腐败斗争.他深刻总结建国以来我们党开展反腐败斗争的经验教训,结合新时期的新特点,提出了开展反腐败斗争的基本战略、有效途径和方式,形成了指导反腐败斗争的鲜明特色.     

The Dynamics of Inequality

The past forty years have seen a rapid rise in top income inequality in the United States. While there is a large number of existing theories of the Pareto tail of the long‐run income distributions, almost none of these address the fast rise in top inequality observed in the data. We show that standard theories, which build on a random growth mechanism, generate transition dynamics that are too slow relative to those observed in the data. We then suggest two parsimonious deviations from the canonical model that can explain such changes: “scale dependence” that may arise from changes in skill prices, and “type dependence,” that is, the presence of some “high‐growth types.” These deviations are consistent with theories in which the increase in top income inequality is driven by the rise of “superstar” entrepreneurs or managers.