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作者：Fetzer, Thiemo
作者单位：University of Warwick
摘要：This paper documents that a large-scale government subsidy aimed at encouraging people to eat out in restaurants in the wake of the first 2020 COVID-19 wave in the United Kingdom has had a significant causal impact on new cases, accelerating the subsequent second COVID-19 wave. The scheme subsidised 50% off the cost of food and non-alcoholic drinks for an unlimited number of visits in participating restaurants on Mondays-Wednesdays from 3-31 August 2020. Areas with higher take-up saw both a no...
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作者：Buera, Francisco; Karmakar, Sudipto
作者单位：Washington University (WUSTL); Bank of England
摘要：Which firms are more sensitive to an aggregate financial shock? What can be learnt from these heterogeneous responses? We evaluate and answer these questions from both empirical and theoretical perspectives. Using microdata from Portugal during the sovereign debt crisis we find that highly leveraged firms and firms with a larger share of short-term debt on their balance sheets contracted more in the aftermath of the financial shock. We analyse the conditions under which leverage and debt matur...
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作者：Forsythe, Eliza
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; University of Illinois System; University of Illinois Urbana-Champaign
摘要：Recessions are known to be particularly damaging to young workers' employment outcomes. I find that during recessions the hiring rate falls faster for young workers than for more experienced workers. I show that this cannot be explained by the composition of jobs or workers' labour supply decisions, and I conclude that firms preferentially hire experienced workers during periods of high unemployment. I develop a new model of cyclical upgrading that relaxes the classic assumptions of exogenous ...
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作者：Chen, Zhiwu; Ma, Chicheng; Sinclair, Andrew J.
作者单位：University of Hong Kong
摘要：Over the past millennium, China has relied on the Confucian clan to achieve interpersonal cooperation, focusing on kinship and neglecting the development of impersonal institutions needed for external finance. In this paper, we test the hypothesis that the Confucian clan and financial markets are competing substitutes. Using the large cross-regional variation in the adoption of modern banks, we find that regions with historically stronger Confucian clans established significantly fewer modern ...
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作者：Rexer, Jonah M.
作者单位：Princeton University
摘要：Marriage markets in rural Nigeria are characterised by bride price and polygamy. These customs may diminish marriage prospects for young men, causing them to join militant groups. Using an instrumental variables strategy, I find that marriage inequality increases civil conflict in the Boko Haram insurgency. To generate exogenous shocks to the marriage market, I exploit the fact that young women delay marriage in response to favourable pre-marital economic conditions, which increases marriage i...
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作者：Bassi, Vittorio; Nansamba, Aisha
作者单位：University of Southern California
摘要：We study how employers and job seekers respond to credible information on skills that are difficult to observe, and how this affects matching in the labour market. We experimentally vary whether certificates on workers' non-cognitive skills are disclosed to both sides of the market during job interviews between young workers and small firms in Uganda. The certificates cause workers to increase their labour market expectations, while high-ability managers revise their assessments of the workers...
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作者：Cattan, Sarah; Kamhoefer, Daniel A.; Karlsson, Martin; Nilsson, Therese
作者单位：University of London; London School Economics & Political Science; IZA Institute Labor Economics; Heinrich Heine University Dusseldorf; University of Duisburg Essen; Lund University; Research Institute of Industrial Economics (IFN)
摘要：Despite the relatively uncontested importance of promoting school attendance in the policy arena, little evidence exists on the causal effect of school absence on long-run outcomes. We address this question by combining historical and administrative records for cohorts of Swedish individuals born in the 1930s. We find that elementary school absence significantly reduces contemporaneous academic performance, final educational attainment and labour income throughout the life cycle. The findings ...
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作者：Layy, Victor; Sand, Edith; Shayo, Moses
作者单位：University of Warwick; Hebrew University of Jerusalem; National Bureau of Economic Research; Bank of Israel; Hebrew University of Jerusalem; University of London; King's College London
摘要：While religions frequently preach preferential treatment of fellow believers, the magnitude and economic implications of religiosity-based discrimination are largely unknown. Religiosity is often confounded with ethnicity, but it varies even within ethnicities and religious denominations. It is also seldom observed in administrative data. This paper exploits a setting that avoids these limitations. We analyse grading decisions in national matriculation exams in Israel, exploiting unique featur...
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作者：Ascari, Guido; Haber, Timo
作者单位：University of Oxford; University of Pavia; University of Cambridge
摘要：A sticky price theory of the transmission mechanism of monetary policy shocks based on state-dependent pricing yields two testable implications that do not hold in time-dependent models. First, large monetary policy shocks should yield proportionally larger initial responses of the price level. Second, in a high trend inflation regime, the response of the price level to monetary policy shocks should be larger and real effects smaller. Our analysis provides evidence supporting these non-linear ...
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作者：Dippel, Christian; Gold, Robert; Heblich, Stephan; Pinto, Rodrigo
作者单位：National Bureau of Economic Research; Leibniz Association; Ifo Institut; University of Toronto; IZA Institute Labor Economics; Leibniz Association; Ifo Institut; University of London; London School Economics & Political Science; University of California System; University of California Los Angeles
摘要：We investigate economic causes of the rising support of populist parties in industrialised countries. Looking at Germany, we find that exposure to imports from low-wage countries increases the support for nationalist parties between 1987-2009, while increasing exports have the opposite effect. The net effect translates into increasing support of the right-populist Alternative for Germany party after its emergence in 2013. Individual data from the German Socio-Economic Panel reveal that low-ski...
