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作者：Fretz, Stephan; Parchet, Raphael; Robert-Nicoud, Frederic
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作者：Hugonnier, Julien; Pelgrin, Florian; St-Amour, Pascal
作者单位：Swiss Finance Institute (SFI); Centre for Economic Policy Research - UK; Universite de Montreal; University of Lausanne; Swiss Finance Institute (SFI)
摘要：Rationalising the stark differences between the human capital and the statistical values of a human life is complicated by the absence of common foundations. We solve a human capital investment model with longevity risk to characterise the human capital. The associated indirect utility yields the willingness to pay against mortality; the marginal willingness to pay solves the value of a statistical life. Indifference between life and certain death characterises the limiting willingness to pay ...
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作者：Fergusson, Leopoldo; Larreguy, Horacio; Riano, Juan Felipe
作者单位：Universidad de los Andes (Colombia); Universidad de los Andes (Colombia); Instituto Tecnologico Autonomo de Mexico; Stanford University
摘要：We develop a model of the politics of state capacity building undertaken by incumbent parties that have a comparative advantage in clientelism rather than in public goods provision. The model predicts that, when challenged by opponents, clientelistic incumbents have the incentive to prevent investments in state capacity. We provide empirical support for the model's implications by studying policy decisions by the Institutional Revolutionary Party that affected local state capacity across Mexic...
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作者：Schulz, Jonathan F.
作者单位：George Mason University
摘要：This study provides evidence that strong kin networks are detrimental for democratic participatory institutions and that the medieval Catholic Church's marriage regulations dissolved Europe's clan-based kin networks, which contributed to the emergence of participatory institutions. I show that weak ancestral kin networks are positively associated with ethnicities' democratic traditions in the past and countries' democracy scores today. At the same time, medieval Church exposure predicts weak k...
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作者：Merilainen, Jaakko
作者单位：Instituto Tecnologico Autonomo de Mexico; Instituto Tecnologico Autonomo de Mexico
摘要：Does political selection matter for policy in representative governments? I use administrative data on local politicians in Finland and exploit exogenous variation generated by close elections to show that electing more high-income, incumbent and competent politicians (who earn more than observably similar politicians) improves fiscal sustainability outcomes, but does not decrease the size of the public sector. I also provide suggestive evidence that electing more university-educated local cou...
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作者：Di Falco, Salvatore; Vieider, Ferdinand M.
作者单位：University of Geneva; Ghent University; Mohammed VI Polytechnic University
摘要：We present incentivised panel data measuring risk preferences of subsistence farmers from across Ethiopia and pair them with rainfall data. We use these data to test the hypothesis that risk preferences may adapt to the environment of the decision maker. We find that rainfall shocks decrease risk tolerance for the same individuals over time. We also find that historical rainfall characteristics and geographical features can explain 40% of the variation in preferences across individuals. The ti...
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作者：Serra-Garcia, Marta
作者单位：University of California System; University of California San Diego
摘要：Risk attitudes determine decision making by individuals. Theoretically, heterogeneity in risk attitudes also affects household behaviour, increasing or decreasing marital instability, depending on whether households benefit primarily from sharing public goods or risk. Using a nationally representative sample with repeated measurements of risk attitudes, this paper shows that intrahousehold heterogeneity in risk attitudes is an economically and statistically significant predictor of future mari...
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作者：Herweg, Fabian; Schmidt, Klaus M.
作者单位：University of Bayreuth; Leibniz Association; Ifo Institut; University of Munich; Centre for Economic Policy Research - UK
摘要：Carbon prices are the most cost-effective instrument to reduce CO2 emissions, but there is strong political opposition to raising them to the efficient level. Therefore, additional efforts of consumers, firms and local governments are required. We study how different regulatory regimes affect moral behaviour and show that a carbon tax complements voluntary efforts to reduce emissions. while cap and trade discourages them. the opportunity to invest in offsets increases welfare, while the option...
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作者：Draca, Mirko; Garred, Jason; Stickland, Leanne; Warrinnier, Nele
作者单位：University of Warwick; University of Ottawa; University of London; Queen Mary University London
摘要：How successful are sanctions at targeting the economic interests of political elites in affected countries? We study the case of Iran, using information on the stock exchange-listed assets of two specific political entities with significant influence over the direction of Iran's nuclear programme. Our identification strategy focuses on the process of negotiations for sanctions removal, examining which interests benefit most from news about diplomatic progress. The results indicate the 'bluntne...
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作者：Bosquet, Clement; Combes, Pierre-Philippe; Henry, Emeric; Mayer, Thierry
作者单位：Centre National de la Recherche Scientifique (CNRS); Centre National de la Recherche Scientifique (CNRS); Institut d'Etudes Politiques Paris (Sciences Po)
摘要：Using an instrument based on a national contest in France determining researchers' location, we find evidence of peer effects in academia, when focusing on precise groups of senders (producing the spillovers) and receivers (benefiting from the spillovers), defined based on field of specialisation, gender and age. These peer effects are present even outside formal co-authorship relationships. Furthermore, the match between the characteristics of senders and receivers plays a critical role. In p...
