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作者：Sabirianova, K; Svejnar, J; Terrell, K
作者单位：University of Michigan System; University of Michigan
摘要：We establish that domestically owned firms in two alternative models of emerging market economies, the Czech Republic and Russia, have not been converging to the technological frontier set by foreign-owned firms. In both countries, the distance of domestic firms to the frontier grew (in all parts of the distribution) from 1992-1994 to 1995-1997 and did not change from 1995-1997 to 1998-2000. However, the distance to the frontier is orders of magnitude greater in Russia than in the Czech Republ...
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作者：Jürges, H; Büchel, F; Schneider, K
作者单位：University of Mannheim; Max Planck Society; University of Wuppertal
摘要：This paper makes use of the regional variation in schooling legislation within the German secondary education system to estimate the causal effect of central exit examinations on student performance. We propose a difference-in-differences framework that exploits the quasi-experimental nature of the German TIMSS middle school sample and discuss its identifying assumptions. The estimates show that students in federal states with central exit examinations clearly outperform students in federal st...
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作者：Yuan, K
作者单位：University of Michigan System; University of Michigan
摘要：We demonstrate that benchmark securities allow heterogeneously informed investors to create trading strategies that are perfectly aligned with their signals. Investors who are informed about security-specific risks but uninformed about systematic risks can take an offsetting position in benchmark securities to eliminate exposure to adverse selection in systematic risks, while investors who are informed about systematic risks but uninformed about security-specific risks can trade systematic ris...
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作者：Duflo, E
作者单位：Massachusetts Institute of Technology (MIT)
摘要：Many countries are amending their political systems to set aside positions to groups, such as women and racial or religious minorities, that are perceived as being disadvantaged. Using evidence from India, this article assesses the case for these reservations.
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作者：Francois, P; Zabojnik, J
作者单位：University of British Columbia; Tilburg University; University of Southern California
摘要：Many argue that elements of a society's norms, culture, or social capital are central to under-standings its development. However, these notions have been difficult to capture in economic models. Here we explore a possible role for trustworthiness as corresponding to social capital. Individuals are trustworthy when they perform in accordance with promises, even if this does not maximise their payoffs. The usual focus on incentive structures in motivating behaviour plays no role here. Instead, ...
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作者：Stock, JH; Watson, MW
作者单位：Harvard University; Princeton University
摘要：The volatility of economic activity inmost G7 economies has moderated over the past 40 years. Also, despite large increases in trade and openness, G7 business cycles have not become more synchronized. After documenting these facts, we interpret G7 output data using a structural VAR that separately identifies common international shocks, the domestic effects of spillovers from foreign idiosyncratic shocks, and the effects of domestic idiosyncratic shocks. This analysis suggests that, with the e...
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作者：Garibaldi, P; Wasmer, E
摘要：The sustainability of welfare states requires high employment and high participation to raise the tax base. To analyze labor supply in a world with market frictions, we propose and solve a macro model of the labor market with unemployment and labor force participation as endogenous and distinct states. In our world, workers' decisions of participating are determined by an entry decision and an exit decision. A calibration of the model improves the usual representations of labor markets, since ...
