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作者：Listo, Ariel; Saberian, Soodeh; Thivierge, Vincent
作者单位：University System of Maryland; University of Maryland College Park; University of Manitoba; University of Ottawa
摘要：De Haas and Popov (2023) used a forty-eight-country, sixteen-industry and twenty-six-year panel to test how the size and structure of a country's financial sector affect CO2 emissions. This comment revisits the results by correcting two coding errors: failing to cluster the SEs and improperly implementing the generalised method of moments (GMM) estimator. Robust SEs are only significant at 10%, while the magnitudes of the GMM results are reduced by a factor of 2 to 4
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作者：Hanlon, W. Walker
作者单位：Northwestern University
摘要：How did the Industrial Revolution generate sustained economic growth? One hypothesis is that the innovation system changed. This paper provides direct quantitative evidence documenting this fundamental change in the innovation system: the emergence of a new type of inventor, the professional engineer. Using rich patent, biographical and other data, I document the emergence of the engineering profession starting in the late eighteenth century and show that engineers differed from older types of...
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作者：Brandts, Jordi; Cooper, David J.
作者单位：Consejo Superior de Investigaciones Cientificas (CSIC); CSIC - Institut d'Analisi Economica (IAE); Barcelona School of Economics; University of Iowa; University of East Anglia
摘要：We study the manager-agent game, a novel coordination game played between a manager and two agents. Unlike commonly studied coordination games, the manager-agent game stresses asymmetric information (agents know the state of the world, but managers do not) and asymmetric payoffs (for all states of the world, agents have opposing preferences over outcomes). Efficient coordination requires coordinating agents' actions and utilising their private information. We vary how agents' actions are chose...
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作者：Agranov, Marina; Eilat, Ran; Sonin, Konstantin
作者单位：California Institute of Technology; National Bureau of Economic Research; Ben-Gurion University of the Negev; University of Chicago
摘要：We analyse a model of political competition in which the elite form endogenously to aggregate information and advise the uninformed median voter which candidate to choose. The median voter knows whether or not the endorsed candidate is biased toward the elites, but might still prefer the biased candidate if the elite's endorsement provides sufficient information about her competence. The elite size and the degree of information aggregation by the elite depend on the extent to which the median ...
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作者：Gagliarducci, Stefano; Tabellini, Marco
作者单位：Harvard University; National Bureau of Economic Research; Centre for Economic Policy Research - UK; IZA Institute Labor Economics; University of Rome Tor Vergata
摘要：We study the effects of ethnic religious organisations on immigrant assimilation, assembling novel data on Italian Catholic churches across US counties between 1890 and 1920. Exploiting variation in the timing of church entry, we find that Italian churches reduced social and economic assimilation along dimensions that require more inter-group interactions, but had null or positive effects on outcomes for which cross-group coordination is less important. We provide evidence that coordination wi...
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作者：Huebener, Mathias; Jessen, Jonas; Kuehnle, Daniel; Oberfichtner, Michael
作者单位：IZA Institute Labor Economics; IZA Institute Labor Economics; University of Duisburg Essen; University of Erlangen Nuremberg
摘要：Motherhood and parental leave are frequent causes of worker absences and employment interruptions, yet little is known about their effects on firms. Based on linked employer-employee data from Germany, we examine how parental leave absences affect small- and medium-sized firms. We show that they anticipate the absence with replacement hirings in the six months before childbirth. A 2007 parental leave reform extending leave absences reduces firm-level employment and total wages up to three year...
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作者：Bhalotra, Sonia; Delavande, Adeline; Font-Gilabert, Paulino; Maselko, Joanna
作者单位：University of Technology Sydney; University of Warwick; University of Technology Sydney; Universidade Nova de Lisboa; University of London; King's College London; University of North Carolina; University of North Carolina Chapel Hill
摘要：We investigate the importance of subjective expectations of returns to and effort costs of the two principal investments that mothers make in newborns: breastfeeding and stimulation. We find heterogeneity across mothers in rural Pakistan in expected effort costs and expected returns for outcomes in the cognitive, socio-emotional and health domains, and that this contributes to explaining heterogeneity in investments. We find no significant differences across women in preferences for child deve...
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作者：Campolmi, Alessia; Fadinger, Harald; Forlati, Chiara
作者单位：University of Verona; Centre for Economic Policy Research - UK; University of Southampton
摘要：Should trade agreements constrain domestic policies? We analyse this question using a model with monopolistic competition and constant-elasticity-of-substitution demand. We develop a welfare decomposition to show that welfare changes induced by trade and domestic policies can be decomposed into consumption and production efficiencies and terms-of-trade effects. We analyse the reasons to sign trade agreements and compare shallow and deep trade agreements, modelled according to GATT-WTO rules. U...
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作者：Mysliwski, Mateusz; Sanches, Fabio Miessi; Silva Junior, Daniel; Srisuma, Sorawoot
作者单位：Norwegian School of Economics (NHH); Getulio Vargas Foundation; City St Georges, University of London; National University of Singapore
摘要：We propose a dynamic oligopoly pricing model, in which consumers' choices exhibit inertia and firms face costly price adjustments. The primitives of the model are estimated using scanner data from the UK butter and margarine industry. We evaluate the effects of frictions on price dynamics, profits and consumer welfare. We find that price adjustment costs are substantial and represent between 24%-34% of net margins. Our model predicts that the absence of these costs reduces persistence in price...
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作者：Halim, Edward; Riyanto, Yohanes E.; Roy, Nilanjan; Wang, Yan
作者单位：Nanyang Technological University; City University of Hong Kong; Fudan University; City University of Hong Kong
摘要：We design an experiment to analyse the consequences of dark trading in a financial market. The channel through which dark trading affects market efficiency critically depends on how information regarding fundamentals is distributed among investors. When information is concentrated in the hands of a few investors, possibly due to sparse investor connectedness or low media coverage, dark trading primarily impacts market efficiency by deteriorating the quality of asset prices. When information is...
