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作者：Koethenbuerger, Marko; Stimmelmayr, Michael E.
摘要：The paper provides a positive and efficiency analysis of dividend taxation in a corporate agency model with a costly managerial effort. Unlike existing (agency) models, this model is consistent with empirical work in corporate finance and able to predict empirically observed investment responses to dividend taxation. In addition, we show that investment changes are not sufficient to infer, first, the efficiency cost of dividend taxation and, second, the financing regime underlying firms' inves...
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作者：Benhabib, Jess; Bisin, Alberto; Fernholz, Ricardo T.
作者单位：New York University; Claremont Colleges; Claremont Graduate University; Claremont McKenna College
摘要：Recent empirical work has demonstrated a positive correlation between grandparent-child wealth rank, even after controlling for parent-child wealth rank, and a positive correlation between dynastic wealth ranks across almost six hundred years. We show that a simple heterogeneous agents model with idiosyncratic wealth returns generates a realistic wealth distribution, but fails to capture these long-run patterns of wealth mobility. An auto-correlated returns specification of this model also fai...
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作者：Hagen, Johannes; Hallberg, Daniel; Lindquist, Gabriella Sjogren
作者单位：Jonkoping University; Uppsala University; Stockholm University
摘要：We study the effects of two exogenous modifications in the Swedish pension system application form nudging individuals towards a fixed-term payout. Meanwhile, the set of available options and the default option-life annuity-were unchanged during the period under study. We examine the effects on individuals' payout decisions and the spillover effects on labour supply and other pensions using a difference-in-difference framework and detailed administrative data on actual payout decisions and a w...
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作者：Dickens, Andrew
作者单位：Brock University
摘要：I study the role of trade on inter-ethnic linguistic differences in the long run. I hypothesise that the geographic environment of neighbouring ethnic groups determines their potential gains from trade, and that the frequency of inter-ethnic trade-and resulting social interactions-shape the co-evolution of language. As a test of this hypothesis, I build a georeferenced dataset to examine the border region of spatially adjacent ethnic groups, together with variation in the set of potentially cu...
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作者：Sonin, Konstantin; Wright, Austin L.
作者单位：University of Chicago; HSE University (National Research University Higher School of Economics)
摘要：Information operations are considered a central element of modern warfare and counter-insurgency, yet there remains little systematic evidence of their effectiveness. Using a geographic quasi-experiment conducted during Operation Enduring Freedom in Afghanistan, we demonstrate that civilians exposed to the government's information campaign resulted in more civilian security cooperation, which in turn increased bomb neutralisations. These results are robust to a number of alternative model spec...
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作者：Cui, Xiaomin; Yu, Miaojie; Zhang, Rui
作者单位：Peking University; Aarhus University
摘要：We study how the contracting environment affects the quality of trade. A better contracting environment not only induces specialisations in industries intensively using customised inputs, but also causes quality upgrading of domestic varieties and tougher competition in these industries. We incorporate these effects into a Ricardian model with customised input and product quality. Our model predicts that better judicial quality raises a country's import prices and quality more in contract-inte...
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作者：Kunn, Steffen; Seel, Christian; Zegners, Dainis
作者单位：Maastricht University; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
摘要：During the COVID-19 pandemic, traditional (offline) chess tournaments were prohibited and instead held online. We exploit this unique setting to assess the impact of remote work policies on the cognitive performance of individuals. Using the artificial intelligence embodied in a powerful chess engine to assess the quality of chess moves and associated errors, we find a statistically and economically significant decrease in performance when an individual competes remotely versus offline in a fa...
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作者：Settele, Sonja; Shupe, Cortnie
作者单位：University of Copenhagen
摘要：We study the role of perceived trade-offs between human lives and economic benefits in shaping policy views. In an online experiment with a representative sample from the United States conducted during the early Covid-19 pandemic, we provide randomised information on the medium-run costs of restricting economic activity to mitigate infections. A one standard deviation lower perceived economic cost of lockdowns increases support by about twice as much as having a Covid at-risk condition, and by...
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作者：Bargain, Olivier; Lacroix, Guy; Tiberti, Luca
作者单位：Universite de Bordeaux; Laval University; Universite de Montreal; University of Florence
摘要：Welfare analyses conducted by policy practitioners around the world usually rely on equivalised or per capita expenditures and ignore the extent of within-household inequality. Recent advances in the estimation of collective models suggest ways to retrieve the complete sharing process within families using homogeneity assumptions (typically preference stability upon exclusive goods across individuals or household types) and the observation of exclusive goods. So far, the prediction of these mo...
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作者：Gennaro, Gloria; Ash, Elliott
作者单位：Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：This paper studies the use of emotion and reason in political discourse. Adopting computational-linguistics techniques to construct a validated text-based scale, we measure emotionality in six million speeches given in U.S. Congress over the years 1858-2014. Intuitively, emotionality spikes during times of war and is highest in speeches about patriotism. In the time series, emotionality was relatively low and stable in earlier years but increased significantly starting in the late 1970s. Acros...
