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作者：de la Brière, B; Sadoulet, E; de Janvry, A; Lambert, S
作者单位：University of California System; University of California Berkeley; INRAE
摘要：Two non-exclusive hypotheses about what motivates remittances sent by Dominican migrants to their rural parents in the Sierra are tested: (a) an insurance contract taken by parents with their migrant children and (b) an investment by migrants in potential bequests. Results show that the relative importance of these two motives to remit is affected by destination (US vs. cities in the Dominican Republic), gender, and household composition. The insurance function is mainly fulfilled by female mi...
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作者：Schmukler, SL; Servén, L
作者单位：The World Bank
摘要：Currency risk is one of the two components of the total interest rate differential. Hard pegs, such as currency boards, are meant to reduce or even eliminate currency risk, thus, reducing domestic interest rates. This paper investigates the patterns and determinants of the currency risk premium in two currency boards-Argentina and Hong Kong. Despite the presumed rigidity of currency boards, the currency premium is almost always positive and at times very large. Its term structure is usually up...
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作者：Martínez, L; Werner, A
作者单位：Bank of Mexico
摘要：This paper analyzes the effect that the change from a fixed to a floating exchange rate regime that took place in Mexico in December 1994 had on the currency composition of corporate debt. In particular, the paper asks whether a fixed exchange rate regime biases corporate borrowing towards foreign currency due to an implicit exchange rate guarantee given by the government. Therefore, under a predetermined regime, firms will not fully internalize their exchange rate risk and will be more likely...
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作者：Brasselle, AS; Gaspart, F; Platteau, JP
作者单位：University of Namur
摘要：The commonsense logic associating higher land security and higher incentives to invest has been recently called into question in the case of African agriculture. To be meaningful, empirical tests have to be carefully designed so as to take account of the possible endogeneity of the land rights variable. This is done in this paper by applying suitable econometric methods to the original data collected in Burkina Faso. The results obtained cast doubt on the existence of a systematic influence of...
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作者：Ahituv, A; Kimhi, A
作者单位：Hebrew University of Jerusalem; Hebrew University of Jerusalem
摘要：This paper analyzes two principal simultaneous decisions of farm operators: off-farm labor supply and farm capital investment. We first develop a theoretical model analyzing the effects of exogenous shocks on farmers' decisions. Then, we estimate jointly a multinomial probit model of farmers' off-farm labor supply and a switching regression model of farm capital, using a two-period panel data set from Israel. This method enables to account for both unobserved heterogeneity and structural state...
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作者：Kaminsky, GL; Reinhart, CM
作者单位：International Monetary Fund; George Washington University
摘要：In this paper, we examine which markets are most synchronized internationally and exhibit the greater extent of co-movement. We focus on daily data for four asset markets: bonds, equities, foreign exchange, and domestic money market. Our sample covers 35 developed and emerging market countries during 1997-1999. The extent of co-movement and responsiveness to external shocks is examined in different ways. To measure the response of these markets to adverse external shocks, we date the peaks in ...
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作者：Jeong, B
作者单位：Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Charles University Prague; Czech Academy of Sciences
摘要：I propose the aggregate output divided by the wage rate of an industrial laborer in a country as a measure of the aggregate human capital input for that country. I use this method to compare the human capital inputs for 45 countries of diverse output levels. I find that human capital input differs between the lowest-income and the highest-income countries by a factor of 2.2 or 2.8, depending on the inclusion of outlier countries. This is significant but small relative to the results from the m...
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作者：Gyimah-Brempong, K; Karikari, JA
作者单位：State University System of Florida; University of South Florida
摘要：This paper uses a two-equation model, panel data from African countries during the 1992-1996 period and a dynamic panel estimator to investigate cost shifting in international telephone calls between these African countries and the US. Using call minutes as the dependent variable, we find that callers in African countries engage in cost shifting while their US counterparts do not. We also find that while US callers reciprocate call minutes from African countries to the US, callers in Africa do...
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作者：Dustmann, C; Kirchkamp, O
作者单位：University of London; University College London; University of Mannheim
摘要：If migrants return to their origin countries, two questions arise which are of immediate economic interest for both immigration and emigration country: what determines their optimal migration duration, and what are the activities migrants choose after a return. Little research has been devoted to these two issues. This paper utilises a unique survey data set which records activities of returned migrants. We first illustrate the activities of immigrants after returning. We show that more than h...
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作者：Torvik, R
作者单位：Norwegian University of Science & Technology (NTNU)
摘要：A new and very simple mechanism to explain why natural resource abundance may lower income and welfare is developed. In a model with rent seeking, a greater amount of natural resources increases the number of entrepreneurs engaged in rent seeking and reduces the number of entrepreneurs running productive firms. With a demand externality, it is shown that the drop in income as a result of this is higher than the increase in income from the natural resource. More natural resources thus lead to l...
