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作者：Drelichman, Mauricio; Voth, Hans-Joachim
作者单位：University of British Columbia
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作者：Tabellini, Guido
作者单位：Bocconi University
摘要：How and why does distant political and economic history shape the functioning of current institutions? This paper argues that individual values and convictions about the scope of application of norms of good conduct provide the missing link. Evidence from a variety of sources points to two main findings. First, individual values consistent with generalized (as opposed to limited) morality are widespread in societies that were ruled by non-despotic political institutions in the distant past. Se...
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作者：Corsetti, Giancarlo; Mueller, Gernot J.
作者单位：European University Institute; Roma Tre University; Goethe University Frankfurt
摘要：In this article, we study. the co-movement of the government budget balance and the trade balance at business-cycle frequencies. In a sample of 10 OECD countries we find that the correlation of the two time series is negative, but less so in more open economies. Moreover, for the U.S. the cross-correlation function is S-shaped. We analyze these regularities taking the perspective of international business cycle theory. First, we show that a standard model delivers predictions broadly in line w...
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作者：Guiso, Luigi; Sapienza, Paola; Zingales, Luigi
作者单位：European University Institute; University of Chicago; Northwestern University
摘要：To explain the extremely long-term persistence (more than 500 years) of positive historical experiences of cooperation (Putnam 1993), we model the intergenerational transmission of priors about the trustworthiness of others. We show that this transmission tends to be biased toward excessively conservative priors. As a result, societies can be trapped in a low-trust equilibrium. In this context, a temporary shock to the return to trusting can have a permanent effect on the level of trust. We va...
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作者：Kocherlakota, Narayana; Pistaferri, Luigi
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; Stanford University
摘要：Kocherlakota and Pistaferri (2007) describe two different. models (Private Information Pareto Optimal and Incomplete Markets) of how households partially insure themselves against idiosyncratic shocks. They demonstrate that the models differ in terms of their implications for real exchange rates. In this paper, we use data from a wide range of countries, and document that there is a statististically significant relationship between real exchange rate growth and between-country differences in t...
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作者：Monacelli, Tommaso; Perotti, Roberto
作者单位：Bocconi University; Bocconi University
摘要：Based on structural VAR evidence for the U.S., we document that arise in government spending generates three facts: (1) an appreciation of the terms of trade; (2) a fall in the price of traded vs. non-traded goods (proxied by the price of goods relative to services), and (3) a positive co-movement between the manufacturing and the service sector, both in consumption and production. We show that, even if government spending is assumed to be as intensive in goods and services as households' cons...
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作者：Aspachs-Bracons, Oriol; Clots-Figueras, Irma; Costa-Font, Joan; Masella, Paolo
作者单位：University of London; London School Economics & Political Science; Universidad Carlos III de Madrid; University of Barcelona; European University Institute
摘要：Education can be at the root of the process of identity formation. Using survey data from Catalonia and the Basque Country, where in 1983 the education system became bilingual, we study how parental choices and schooling interact with each other and contribute to the development of individual identity. The difference between the reforms implemented in the two Spanish regions is that whereas in Catalonia the reform was compulsory, in the Basque Country parents could choose the language used to ...
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作者：Benati, Luca; Surico, Paolo
摘要：Based on a structural VAR with time-varying parameters and stochastic volatility for the post-WWII U.S., we document a negative correlation between the evolution of the long-run coefficient on inflation in the structural monetary rule and the evolution of the persistence and predictability of inflation relative to a trend component. Using an estimated sticky-price model, we show that a more aggressive policy stance towards inflation causes a decline in inflation predictability.
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作者：Harstad, Bard
作者单位：Northwestern University
摘要：I investigate when side payments facilitate cooperation in a context with strategic delegation. On the one hand, allowing side payments may be necessary when one party's participation constraint otherwise would be violated. On the other, with side payments each principal appoints a delegate that values the project less, because this increases her bargaining power. Reluctant agents, in turn, implement too few projects. I show that side payments are bad if the heterogeneity is small while the un...
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作者：Banerjee, Abhijit V.; Duflo, Esther; Glennerster, Rachel
作者单位：Massachusetts Institute of Technology (MIT)
摘要：The public Indian health care system is plagued by high staff absence, low effort by providers, and limited use by potential beneficiaries who prefer private alternatives. This artice reports the results of an experiment carried out with a district administration and a nongovernmental organization (NGO). The presence of government nurses in government public health facilities (subcenters and aid-posts) was recorded by the NGO, and the government took steps to punish the worst delinquents. Init...
