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作者：Moeller, Marc; Beccuti, Juan
作者单位：University of Bern
摘要：In a common-value environment with multi-stage competition, losing a stage conveys positive news about a rival's estimation of a contested prize, capable of balancing the discouraging effect of falling behind. We show that, due to players' learning from stage outcomes, aggregate incentives under private information are often greater than under public information and may even exceed the static competition benchmark. Moreover, laggards can become more motivated than leaders, giving rise to long-...
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作者：Cinnirella, Francesco; Hornung, Erik; Koschnick, Julius
作者单位：University of Bergamo; University of Cologne; University of Southern Denmark
摘要：Economic societies emerged during the late eighteenth century. We argue that these institutions reduced the costs of accessing useful knowledge by adopting, producing and diffusing new ideas. Combining location information for the universe of 3,300 members across active economic societies in Germany with those of patent holders and World's Fair exhibitors, we show that regions with more members were more innovative in the late nineteenth century. This long-lasting effect of societies arguably ...
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作者：De Haan, Monique; Schreiner, Ragnhild C.
作者单位：University of Amsterdam; Tinbergen Institute; Leibniz Association; Ifo Institut; University of Oslo
摘要：Exploiting rich administrative data from Norway, we estimate non-parametric bounds around the average causal effect of parental welfare participation on children's welfare participation for children that grew up in welfare-dependent families. We find upper bounds well below the intergenerational association and substantially below existing local average treatment effect estimates in the literature. Our results show that a substantial portion of the observed intergenerational correlation in wel...
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作者：Forsythe, Eliza; Weinstein, Russell
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：We investigate employer recruiting behaviour, using detailed firm-level data from a national survey of employers hiring recent college graduates. We find that this behaviour is responsive to the business cycle, beliefs about labour market tightness and the intended number of hires. Specifically, employers adjust planned recruiting effort and compensation. We then show that, when firms expend greater recruiting effort, they ultimately hire more individuals per vacancy. These results suggest tha...
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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：Montebruno, Piero; Silva, Olmo; Szumilo, Nikodem
作者单位：University of London; London School Economics & Political Science; University of London; University College London
摘要：We study the impact of borrower protection on mortgage and housing demand using variation in the likelihood that houses are repossessed coming from heterogeneity in preferences of local judges. We develop a framework that provides conditions to identify the impact of repossession risk on housing and credit demand, holding supply fixed. Empirically, we exploit exogenous variation in risk created by boundaries of court catchment areas. We find that a one-standard-deviation decrease in borrower p...
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作者：Lagios, Nicolas; Meon, Pierre-Guillaume; Tojerow, Ilan
作者单位：Universite Libre de Bruxelles
摘要：We study the electoral impact of protesting against the far right by investigating the demonstrations held during the 2002 French presidential elections against far-right candidate Jean-Marie Le Pen. Instrumenting rally attendance with rainfall while factoring in that some municipalities never host protests, we find that larger protests reduced the number of votes for Le Pen and abstention, while increasing the number of votes for the incumbent president, Jacques Chirac. We find that the effec...
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作者：Feng, Alan; Li, Haishi; Wang, Yulin
作者单位：University of Hong Kong; International Monetary Fund; University of Hong Kong
摘要：Are landlocked countries at risk from sea-level rise? We identify a new mechanism where natural disaster shocks influence countries' macroeconomic performance through cross-border trade spillovers. Analysing global data on climate disasters, infrastructure, trade and the macroeconomy from 1970 to 2019, we find that climate disasters impact ports and critical infrastructure for international trade and reduce imports, exports and economic output in both the affected country and its major trade p...
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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...
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作者：Bakhtiar, M. Mehrab; Fafchamps, Marcel; Goldstein, Markus; Leonard, Kenneth L.; Papineni, Sreelakshmi
作者单位：CGIAR; International Food Policy Research Institute (IFPRI); Stanford University; The World Bank; University System of Maryland; University of Maryland Baltimore
摘要：We conduct an original lab-in-the-field experiment on the decision-making process of married couples over the allocation of rival and non-rival household goods. The experiment measures individual preferences over allocations and traces the process of deferral, consultation, communication and accommodation by which couples implement these preferences. We find few differences in individual preferences over allocations of goods. However, wives and husbands have strong preferences over process: wo...
