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作者：Jovanovic, Boyan; Rousseau, Peter L.
作者单位：New York University; Vanderbilt University
摘要：The IPOs of the Electricity/Internal Combustion revolution created more lasting value than the IPOs of the IT revolution. Stock-market data point to two explanations for this. First, computer prices have been falling much faster than did those of electricity and internal combustion in the 1890-1930 period, and so the value of each generation of computer-intensive entrants is reduced by later entrants. And, second, the pre-1973 vintages reacted to the microcomputer relatively quickly, perhaps b...
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作者：Shearer, Bruce
作者单位：Laval University
摘要：The role of field experiments in evaluating the effect of compensation policies on worker productivity is considered. Particular attention is paid to the ability of a field experiment to identify the effect of a permanent change in firm policy. While field experiments solve endogeneity problems through randomization, they do so within a specific, and at times artificial, environment that may not be replicated by a permanent policy change. As such, rather than providing a basis for the unrestri...
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作者：Lindbeck, Assar; Nyberg, Sten; Weibull, Joergen W.
作者单位：Stockholm University; Stockholm University; Boston University
摘要：The paper analyses the interaction between economic incentives and work norms in the context of social insurance. If the work norm is endogenous in the sense that it is weaker when the population share of beneficiaries is higher, then voters will choose less generous benefits than otherwise. We also discuss welfare-state dynamics when there is a time lag in the adjustment of the norm in response to changes in this population share, and show how a temporary shift in the unemployment rate may ca...
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作者：Martimort, David; Verdier, Thierry
作者单位：Universite de Toulouse; Institut Universitaire de France
摘要：This paper argues that the internal organization of the firm and the growth process interact strongly to determine simultaneously the power of incentives within the firm and the growth rate. We show how agents within the firm can invest either by using their own human capital or by relying on some form of reputational capital to secure implicit relationships within the firm and we discuss how these investments affect the growth rate of the economy. (JEL: D92, L22, O40)
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作者：Townsend, Robert M.
作者单位：University of Chicago
摘要：Individual microcredit loans are not necessarily simple fixed debt obligations, but rather may have contingencies and procedures suggested by the theory of mechanism design. Further, group or joint-liability lending may not be the single miracle cure practitioners claim nor operate the way the logic of a single theory might suggest. There are multiple theories, these theories can be distinguished in data on repayment rates, and the best-fit theory may vary with the environment. Finally, the de...
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作者：Acemoglu, Daron; Aghion, Philippe; Zilibotti, Fabrizio
作者单位：Massachusetts Institute of Technology (MIT); Harvard University; University of London; University College London
摘要：We construct a model where the equilibrium organization of firms changes as an economy approaches the world technology frontier. In vertically integrated firms, owners (managers) have to spend time both on production and innovation activities, and this creates managerial overload, and discourages innovation. Outsourcing of some production activities mitigates the managerial overload, but creates a holdup problem, causing some of the rents of the owners to be dissipated to the supplier. Far fro...
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作者：Bleakley, Hoyt
作者单位：University of California System; University of California San Diego
摘要：Hookworm and malaria, parasites that remain a significant public health threat in the tropical belt today, were endemic in the American South as late as the first half of the twentieth century. I discuss how the successful eradication of malaria and hookworm in the American South affected human-capital accumulation. I find that areas that had higher levels of (malaria or hookworm) infection prior to eradication experienced greater increases in school attendance and literacy afterwards. Moreove...
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作者：Carraro, Carlo; Siniscalco, Domenico
作者单位：Universita Ca Foscari Venezia
摘要：This paper deals with Science and Technology in research policy. Following recent literature on the economics of knowledge, Science and Technology are defined as distinct institutional arrangements, broadly corresponding to nonmarket and market allocation mechanisms. Previous analyses argued that Science and Technology can and should coexist within an economic system or society. This paper shows that Science and Technology tend to coexist-and should coexist on welfare grounds-also within the s...
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作者：Neary, J. Peter
摘要：Part 1 of this report outlines the steps in launching the new Journal of the European Economic Association; Part 2 gives details of conferences, committees and other relatively routine matters; and Part 3 deals with administration and governance issues; Part 4 includes final notes.
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作者：Chatelain, Jean-Bernard; Ehrmann, Michael; Generale, Andrea; Martinez-Pages, Jorge; Vermeulen, Philip; Worms, Andreas
作者单位：European Central Bank; Bank of France; European Central Bank
摘要：This paper presents an overview of the results of a research project on monetary transmission pursued by the Eurosystem, which has analyzed micro data on firms and banks in several countries of the euro area in great detail. There is strong empirical support for an interest rate channel working through firm investment. Furthermore, a credit channel can be identified with firm micro data. On the bank side, there is evidence that lending reacts differently to monetary policy according to bank ba...
