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作者：Leeson, Peter T.; Hardy, R. August; Suarez, Paola A.
作者单位：George Mason University; Seton Hall University
摘要：The central implication of maximising behaviour amid competition is that rates of return tend toward equality. We test that implication in a market whose participants have the traits that behavioural economics suggests should make it hardest to find evidence of maximisation: the market for panhandling at Metrorail stations in Washington, District of Columbia. We find that stations with more panhandling opportunities attract more panhandlers and that cross-station differences in hourly panhandl...
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作者：Franck, Raphael; Galor, Oded
作者单位：Hebrew University of Jerusalem; Centre for Economic Policy Research - UK; Leibniz Association; Ifo Institut; Brown University; IZA Institute Labor Economics; Leibniz Association; Ifo Institut; National Bureau of Economic Research
摘要：This research explores the effect of early industrialisation on human capital formation. Exploiting exogenous regional variations in the adoption of steam engines across France, the study suggests that, in contrast to conventional wisdom that views early industrialisation as a predominantly deskilling process, the industrial revolution was conducive for human capital formation, generating wide-ranging gains in literacy rates and educational attainment. However, this increase in human capital f...
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作者：Gill, David; Prowse, Victoria
作者单位：Purdue University System; Purdue University
摘要：We leverage response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on average when they face that situation (where we categorise situations according to characteristics of play in the previous round). We find that strategic complexity varies significantly across situations, and we find considerable heterogeneity in how responsive subjects' thinking times are to complexity. We also study how variation in response times...
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作者：Comola, Margherita; Prina, Silvia
作者单位：Universite Paris Saclay; Paris School of Economics; Northeastern University
摘要：This paper studies how formal financial access affects network-based financial arrangements. We use a field experiment that granted access to a savings account to a random subset of households in 19 Nepalese villages. Exploiting a unique panel dataset that follows all bilateral informal financial transactions before and after the intervention, we show that households that were offered access to an account increased their loans and total transfers to others, independent of the treatment status ...
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作者：Ferreira, Daniel; Nikolowa, Radoslawa
作者单位：University of London; London School Economics & Political Science; University of London; Queen Mary University London
摘要：We develop a model of the market for knowledge workers in which talent is discovered on the job. In the model, asymmetric information and firm-specific human capital combine to generate several predictions relating firm heterogeneity to talent discovery and poaching. We show that high-quality (i.e., large and high-productivity) firms are more likely to become talent poachers, while lower-quality firms are more likely to invest in talent discovery. Job-to-job flows are adversely selected, which...
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作者：Fuchs-Schuendeln, Nicola; Krueger, Dirk; Ludwig, Alexander; Popova, Irina
作者单位：Goethe University Frankfurt; Centre for Economic Policy Research - UK; University of Pennsylvania; National Bureau of Economic Research
摘要：Using a structural life-cycle model, we quantify the heterogeneous impact of school closures during the corona crisis on children affected at different ages and coming from households with different parental characteristics. In the model, public investment through schooling is combined with parental time and resource investments in the production of child human capital at different stages in the children's development process. We quantitatively characterise the long-term consequences from a CO...
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作者：Artuc, Erhan; Brambilla, Irene; Porto, Guido
作者单位：The World Bank; National University of La Plata
摘要：We explore how different investment frictions affect the patterns of responses of labour markets to tariff cuts. To investigate these patterns, we formulate a multi-sector dynamic model featuring capital and labour adjustment costs that we fit to Argentine data. Using counterfactual simulations of a tariff decline in the textile sector, we show that capital adjustment can create long-run responses of real wages that are larger than the short-run responses. This happens as textile firms disinve...
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作者：Geloso, Vincent J.; Magness, Phillip; Moore, John; Schlosser, Philip
作者单位：George Mason University; Wayne State University
摘要：Piketty and Saez () found a pronounced U-curve pattern of American income inequality since 1917, displaying a precipitous decline during World War II to a level that would hold until 1980. We offer revisions to their income inequality estimates prior to 1960 with three important findings. First, Piketty and Saez overstate inequality levels in this period. Second, the decline during World War II was smaller than depicted. Third, the Great Depression, rather than World War II, played the more si...
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作者：Grazzini, Jakob; Rossi, Lorenza
作者单位：University of Pavia; Lancaster University
摘要：This paper considers a two-sector real business cycle model augmented with firm heterogeneity and firm dynamics, and studies the steady state and dynamic properties of the model in response to a decline in the relative price of investment. It shows that both firm heterogeneity and entry play a crucial role in the decline in the labour share and the increase in capital intensity observed in the US economy. Using ORBIS firm-level data of the US economy, the paper finds robust evidence consistent...
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作者：Cun, Wukuang; Quadrini, Vincenzo; Sun, Qi; Xia, Junjie
作者单位：Shanghai University of Finance & Economics; University of Southern California; Peking University Shenzhen Graduate School (PKU Shenzhen); Peking University; Centre for Economic Policy Research - UK; Zhejiang University; Central University of Finance & Economics; Peking University
摘要：We use Chinese manufacturing data to show that upstream manufacturing industries received higher credit during the monetary expansion of 2005-11. However, the higher credit received by upstream industries did not generate a similar increase in 'trade lending' to downstream industries, which limited the transmission of the credit expansion to the whole manufacturing sector. We develop a model that formalises some of the key features of the Chinese economy, and show why a credit expansion tilted...
