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作者：McIntosh, Craig; Zeitlin, Andrew
作者单位：University of California System; University of California San Diego; Georgetown University
摘要：We develop a methodology to benchmark in-kind programs against cost-equivalent cash transfers. Our application compares a multi-dimensional child nutrition intervention to unconditional cash transfers, using randomised variation in transfer amounts and regression adjustment of expenditures to estimate impacts of cash transfers at identical cost as well as to estimate the return to increasing cash transfer amounts. While neither the in-kind program nor a cost-equivalent transfer costing ${\$}$1...
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作者：Salant, Stephen W.
作者单位：University of Michigan System; University of Michigan
摘要：This article presents examples of arbitrage deterrence from the pharmaceutical, chemical and auto industries. Based on these cases, it develops two models where a monopolist prices and spends to deter arbitrage. The models differ in whether the lower price is set by the firm or negotiated with a representative of consumers. In both models, imports into the high-price market are completely deterred, but the two markets are nonetheless linked by the threat of arbitrage. If this linkage is ignore...
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作者：van der Kwaak, Christiaan
作者单位：University of Groningen; University of Groningen
摘要：I investigate the macroeconomic impact of central bank funding becoming a more attractive funding source to financial intermediaries in times of crisis. I show that the requirement to pledge collateral has a contractionary effect on private credit, everything else equal, and thereby reduces the expansionary effect that such lending otherwise has. I use an estimated New Keynesian model with financial frictions to show that the collateral effect explains the limited growth of Italian banks' priv...
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作者：Dur, Robert; Non, Arjan; Prottung, Paul; Ricci, Benedetta
作者单位：Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Tinbergen Institute; Leibniz Association; Ifo Institut; IZA Institute Labor Economics; Boston Consulting Group (BCG)
摘要：In many public policy areas, randomised policy experiments can greatly contribute to our knowledge of the effects of policies and can thus help to improve public policy. However, policy experiments are not very common. This paper studies whether a lack of appreciation for policy experiments among voters may be the reason for this. Collecting survey data representative of the Dutch electorate, we find clear evidence contradicting this view. Voters strongly support policy experimentation and par...
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作者：Loria, Francesca; Matthes, Christian; Zhang, Donghai
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; Indiana University System; Indiana University Bloomington; National University of Singapore
摘要：Real gross domestic product and industrial production in the United States display substantial asymmetry and tail risk. Is this asymmetry driven by a specific structural shock? Our empirical approach, based on quantile regressions and local projections, suggests otherwise. We find that the tenth percentile of predictive growth distributions responds between three and six times more than the median to monetary policy shocks, financial shocks, uncertainty shocks, and oil price shocks, indicating...
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作者：Bouton, Laurent; Castanheira, Micael; Drazen, Allan
作者单位：Center for Economic & Policy Research (CEPR); Georgetown University; Georgetown University; National Bureau of Economic Research; Universite Libre de Bruxelles; Fonds de la Recherche Scientifique - FNRS; University System of Maryland; University of Maryland College Park
摘要：Popular and academic discussions have mostly concentrated on large donors, even though small donors are a major source of financing for political campaigns. We propose a theory of small donors with a key novelty: it centres on the interactions between small donors and the parties' fundraising strategy. In equilibrium, parties micro-target donors with a higher contribution potential (that is, richer and with more intense preferences) and increase their total fundraising effort in close races. T...
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作者：Jha, Saumitra; Shayo, Moses
作者单位：Stanford University; Stanford University; Hebrew University of Jerusalem; University of London; King's College London
摘要：Many studies document low rates of financial literacy and suboptimal levels of participation in financial markets. These issues are particularly acute among women. Does this reflect a self-reinforcing trap? If so, can a nudge to participate in financial markets generate knowledge, confidence and further increase informed participation? We conduct a large field experiment that enables and incentivises working-age men and women-a challenging group to reach with standard financial training progra...
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作者：Carias, Michelle Escobar; Johnston, David W.; Knott, Rachel; Sweeney, Rohan
作者单位：University of Melbourne; Monash University
摘要：Does temperature affect decision-making abilities and rationality? Using Indonesian data, we estimate how risky choices, impatience and rational choice violations vary with exposure to temperature. We show that hot weather temporarily increases rational choice violations and impatience, but does not affect risk-related decisions. These effects are primarily driven by nighttime rather than daytime temperatures. We provide suggestive evidence that the mechanism behind these effects is decreased ...
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作者：Lemos, Renata; Muralidharan, Karthik; Scur, Daniela
作者单位：The World Bank; Centre for Economic Policy Research - UK; University of London; London School Economics & Political Science; University of California System; University of California San Diego; National Bureau of Economic Research; Cornell University
摘要：This paper uses new data to study school management and productivity in India. We report five main results. First, management quality in public schools is low, and similar to 2 standard deviations below high-income countries with comparable data. Second, private schools have higher management quality, driven by much stronger people management. Third, people management quality is correlated with independent measures of teaching practice, as well as school productivity measured by student value ...
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作者：Gola, Pawel
作者单位：University of Edinburgh
摘要：Models of self-selection predict that occupations with flat wage schedules attract workers of lower average ability. However, in certain prominent occupations such as academia and the civil service, wages are flat yet the average skill level is high. In this paper, I examine whether social status concerns can explain this puzzle. I find that within-occupation status allows flat wage occupations to attract predominantly high-skilled workers, but only at the cost of attracting few workers overal...
