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作者：Rieder, Kilian; Anson, Michael; Bholat, David; Thomas, Ryland
作者单位：Oesterreichische Nationalbank (OeNB); Centre for Economic Policy Research - UK; Bank of England; Oesterreichische Nationalbank (OeNB)
摘要：We exploit a fixed rule constraining central bank credit provision in a regression discontinuity framework to analyse counterparties' behavioural responses to the (non-)receipt of liquidity during a crisis. In spring 1847, the Bank of England suddenly started rationing credit to avoid violating its gold reserve requirement. We show that counterparties that suffered rejection from the Bank were more likely to fail. Conditional on survival, rationed counterparties learned from their experience a...
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作者：Akresh, Richard; Halim, Daniel; Kleemans, Marieke
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; The World Bank
摘要：We study long-term and intergenerational effects of the 1970s Indonesian school construction program. Exploiting variation across birth cohorts and districts in the number of schools built suggests that 43 years later men are more likely to work formally, outside agriculture, and migrate, and that men and women have better marriage market outcomes. Households with exposed women have higher living standards and pay more taxes. The mother's program exposure leads to increased schooling for her c...
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作者：Akbulut-Yuksel, Mevlude; Okoye, Dozie; Turan, Belgi
作者单位：Dalhousie University; IZA Institute Labor Economics; TOBB Ekonomi ve Teknoloji University
摘要：This paper provides causal evidence on how political parties can sway voters at scale in nascent electoral democracies. We collect novel data on expressway construction by the Justice and Development Party in Turkey and use province-by-year variation in construction to show that votes for the Justice and Development Party increased in response to the expressways. The estimates imply that the expressways increased the Justice and Development Party's vote share by 4.8 percentage points-a third o...
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作者：Berman, Nicolas; Couttenier, Mathieu; Girard, Victoire
作者单位：Universidade Nova de Lisboa; Aix-Marseille Universite; Centre National de la Recherche Scientifique (CNRS); Ecole Normale Superieure de Lyon (ENS de LYON); Universite de Orleans
摘要：This paper shows how ethnic identities may become more salient due to natural resources extraction. We combine individual data on the strength of ethnic-relative to national-identities with geo-localised information on the contours of ethnic homelands, and on the timing and location of mineral resources exploitation in 25 African countries, from 2005 to 2015. Our strategy takes advantage of several dimensions of exposure to resources exploitation: time, spatial proximity and ethnic proximity. ...
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作者：Peralta-Alva, Adrian; Tam, Xuan S.; Tang, Xin; Tavares, Marina M.
作者单位：International Monetary Fund; City University of Hong Kong; Wuhan University
摘要：We quantitatively investigate the welfare costs of increasing tax revenues in low-income countries. We consider three tax instruments: consumption, labour income and capital income taxes. The analysis is based on a general equilibrium model featuring heterogeneous agents, incomplete financial markets, and rural and urban areas. We calibrate the model to Ethiopia and decompose the welfare costs into their aggregate and distributional components. We find that changing taxes alter the composition...
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作者：Silva, Dejanir H.
作者单位：Purdue University System; Purdue University
摘要：This paper studies optimal fiscal policy in a currency union subject to capital flow shocks in an economy with two main ingredients: (i) sticky prices and (ii) financially constrained arbitrageurs. Given capital outflows and high external debt, the fiscal authority faces a trade-off between stimulating the economy or paying off external debt. The planner reduces the value-added tax in the short run, while it raises and front-loads the sum of value-added tax and payroll taxes. It is not optimal...
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作者：Fabra, Natalia; Montero, Juan-Pablo
作者单位：Universidad Carlos III de Madrid; Centre for Economic Policy Research - UK; Pontificia Universidad Catolica de Chile
摘要：An imperfectly informed regulator needs to procure multiple units of some good (e.g., green energy, market liquidity, pollution reduction, land conservation) that can be produced with heterogeneous technologies at various costs. How should she optimally procure these units? Should she run technology-specific or technology-neutral auctions? Should she allow for partial separation across technologies? Should she instead post separate prices for each technology? What are the trade-offs involved? ...
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作者：Bonomo, Marco; Carvalho, Carlos; Kryvtsov, Oleksiy; Ribon, Sigal; Rigato, Rodolfo
作者单位：Bank of Canada
摘要：We study a unique dataset with comprehensive coverage of daily prices in large multi-product retailers in Israel. Retail stores synchronise price changes around occasional 'peak' days when they reprice around 10% of their products. To assess aggregate implications of partial price synchronisation, we develop a new model in which multi-product firms face economies of scope in price adjustment, and synchronisation is endogenous. Synchronisation of price changes attenuates the average price respo...
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作者：Konovalov, Arkady; Krajbich, Ian
作者单位：University of California System; University of California Los Angeles; University System of Ohio; Ohio State University; University of Zurich; University of Birmingham; University of California System; University of California Los Angeles
摘要：People respond quickly when they have a clear preference and slowly when they are close to indifference. The question is whether others exploit this tendency to infer private information. In two-stage bargaining experiments, we observe that the speed with which buyers reject sellers' offers decreases with the size of the foregone surplus. This should allow sellers to infer buyers' values from response times, creating an incentive for buyers to manipulate their response times. We experimentally...
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作者：Khanna, Gaurav; Medina, Carlos; Nyshadham, Anant; Tamayo, Jorge; Torres, Nicolas
作者单位：University of California System; University of California San Diego; Banco de la Republica Colombia; University of Michigan System; University of Michigan; National Bureau of Economic Research; Harvard University
摘要：Safety net programs, common in settings with high informality like Latin America, often use a means test to establish eligibility. We ask: in settings in which organised crime provides lucrative opportunities in the informal market, will discouraging formal employment via benefits eligibility criteria increase criminal enterprise activity? We link administrative socioeconomic microdata with the universe of arrests in Medellin over a decade, and exploit exogenous variation in formal-sector empl...
