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作者：Anderson, JE; Bandiera, O
作者单位：University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; Boston College; National Bureau of Economic Research
摘要：This paper makes precise the distributional consequences and social efficiency of private enforcement of property rights. Properties of different values are subject to predation and owners choose between self-defense and private enforcement services. A distributional conflict of interest arises as private protection purchased by rich owners deflects predators on low value properties. The market structure of enforcement and development affect the distribution of property income through relative...
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作者：Davies, RB
作者单位：University of Oregon
摘要：Opponents of child labor suggest that demand-driven mechanisms can eliminate such practices. If consumers prefer adult-labor products, they suggest that labeling will drive out child-labor products. I show that under Bertrand competition, even with complete information, this is unlikely. When products are differentiated only by labor type, such a scheme requires at least three firms and child-labor costs at least as large as adult-labor costs. With additional lines of differentiation, child la...
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作者：Morón, E; Winkelried, D
作者单位：Universidad del Pacifico Peru
摘要：One distinguishable characteristic of emerging market economies is that they are not financially robust. These economics are incapable of smoothing out large external shocks, as sudden capital outflows imply abrupt swings in the real exchange rate. Using a small open-economy model, this paper examines alternative monetary policy rules for economies with different degrees of liability dollarization. The paper answers the question of how efficient it is to use inflation targeting (IT) under high...
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作者：Gibson, B
作者单位：University of Vermont
摘要：Recent econometric evidence suggests that trade liberalization has an elusive relationship to growth and income distribution. This paper provides an explanation for these results via numerical simulations of a dynamic structuralist CGE. The conclusion is that if families become too poor to finance human capital accumulation, or the state too stingy to supply it at a reasonable cost, exports of skill-intensive goods can become uncompetitive and the transition to openness may involve increasing ...
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作者：Karp, L
作者单位：University of California System; University of California Berkeley
摘要：Recent papers show that imperfect property rights to a natural resource - a sector-specific factor - can be a source of comparative advantage. In these models, weaker property rights attract labor - the only mobile factor - to the resource sector, increasing the country's comparative advantage for that sector. If capital in addition to labor is mobile, and if the benefits of capital are non-excludable or if the degree of property rights is endogenous, a deterioration of property rights has amb...
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作者：Demombynes, G; Özler, B
作者单位：The World Bank; University of California System; University of California Berkeley
摘要：We examine the effects of local inequality on property and violent crime in South Africa. The findings are consistent with economic theories relating local inequality to property crime and also with sociological theories that imply that inequality leads to crime in general. Burglary rates are 25-43% higher in police precincts that are the wealthiest among their neighbors, suggesting that criminals travel to neighborhoods where the expected returns from burglary are highest. Finally, while we f...
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作者：Straub, S
作者单位：University of Edinburgh
摘要：We build a model of firms' choice between formality and informality. Complying with costly registration procedures allows the firms to benefit from key public goods, enforcement, of property lights and contracts, that make the participation in the formal credit market possible. In a moral hazard framework with credit rationing, their decision is shaped by the interaction between the cost of entry into formality, and the relative efficiency of formal versus informal credit. mechanisms and their...
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作者：Agénor, PR
作者单位：University of Manchester
摘要：This paper studies the labor market effects of fiscal adjustment in a two-sector, three-good intertemporal framework. Key features of the model are an informal sector, minimum wages, unionized labor in the formal economy, imperfect labor mobility, and public production of intermediate inputs. Luxury and wait unemployment prevail in equilibrium. It is shown that if unions care sufficiently about employment, and if the degree of openness is high, an increase in the price of government services m...
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作者：Fafchamps, M; Gabre-Madhin, E; Minten, B
作者单位：University of Oxford; The World Bank; Cornell University
摘要：Using detailed trader surveys in Benin, Madagascar, and Malawi, this paper investigates the presence of increasing returns in agricultural trade. After analyzing margins, costs, and value added, we find little evidence of returns to scale. Motorized transport is found more cost effective for large loads on longer distances. But transporters appear to pool quantities from multiple traders. Margin rates show little relationship with transaction size. Personal travel costs are a source of increas...
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作者：Tillmann, P
作者单位：University of Bonn
摘要：To correct the disincentives of liquidity assistance during financial crises, the official sector attempts to involve the private sector in the resolution of debt crises. This paper empirically tests the reaction of investors to announcements of private sector involvement (PSI). For this purpose, we disentangle shifts in risk premia incorporated in excess returns on emerging market bonds into changes in risk and shifts in the price of risk. A regime-switching ARCH-M model is employed to separa...
