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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：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...
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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...
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作者：Boneva, Lena; Elliott, David; Kaminska, Iryna; Linton, Oliver; McLaren, Nick; Morley, Ben
作者单位：Bank of England
摘要：There is substantial uncertainty about the impact of quantitative easing on market liquidity. Identifying the impact is particularly challenging due to the potential for reverse causality, because liquidity considerations might affect quantitative easing purchases. We address this challenge by studying the Bank of England's 2016-7 Corporate Bond Purchase Scheme. In particular, we use granular offer-level data from the Corporate Bond Purchase Scheme auctions to construct proxy measures for the ...
