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作者：Li, Weijia; Roland, Gerard; Xie, Yang
作者单位：Monash University; University of California System; University of California Berkeley; University of California System; University of California Riverside
摘要：We model how corruption erodes state power, that is, the state's ability to keep its apparatus under control in crises. Under a general assumption about fat-tailed risk of crisis, we show that given strong fiscal capacity, the head of the state will control local corruption at such a level that its power is secured; given weaker capacity, the state will over-tolerate corruption to retain officials, risking control in crises; moreover, a state may be trapped with too weak fiscal capacity, rampa...
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作者：Romero, Mauricio; Sandefur, Justin
作者单位：Instituto Tecnologico Autonomo de Mexico
摘要：Outsourcing the management of ninety-three randomly-selected government primary schools in Liberia to eight private operators led to learning gains of 0.18 sigma after one year, but these effects plateaued in subsequent years (reaching 0.2 sigma after three years). Beyond learning gains, the programme reduced corporal punishment (by 4.6 percentage points from a base of 51%), but increased dropout (by 3.3 percentage points from a base of 15%) and failed to reduce sexual abuse. Despite facing si...
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作者：Santos, Carlos D.; Costa, Luis F.; Brito, Paulo B.
作者单位：Universidade Nova de Lisboa; Universidade de Lisboa
摘要：Markup cyclicality has been central for debating policy effectiveness and understanding business cycle fluctuations. However, measuring the cyclicality of markups is as important as understanding the microeconomic mechanisms underlying that cyclicality. The latter requires measurement of firm-level markups and separating supply from demand shocks. We construct a novel dataset with detailed (multi-) product-level prices for individual firms. By estimating a structural model of supply and demand...
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作者：Durrmeyer, Isis
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole
摘要：I quantify the welfare and environmental gains and losses from a policy establishing an environmental tax/subsidy for new cars in France in 2008. I estimate a structural model of demand and supply that features heterogeneity in consumer preferences to go beyond the average policy effects and analyse distributional aspects. The policy reduces average carbon emissions by 1.6% at the cost of additional emissions of local pollutants. The regulation favours middle-income individuals but has redistr...
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作者：Bauer, Michael D.; Lakdawala, Aeimit; Mueller, Philippe
作者单位：University of Hamburg; Center for Economic & Policy Research (CEPR); Leibniz Association; Ifo Institut; Wake Forest University; University of Warwick
摘要：Uncertainty about future policy rates plays a crucial role for the transmission of monetary policy to financial markets. We demonstrate this using event studies of FOMC announcements and a new model-free uncertainty measure based on derivatives. Over the 'FOMC uncertainty cycle' announcements systematically resolve uncertainty, which then gradually ramps up again. Changes in monetary policy uncertainty around FOMC announcements-often due to forward guidance-have pronounced effects on asset pri...
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作者：Egger, Hartmut; Kreickemeier, Udo; Moser, Christoph; Wrona, Jens
作者单位：University of Bayreuth; Leibniz Association; Ifo Institut; University of Gottingen; Leibniz Association; Ifo Institut; Leibniz Association; Ifo Institut; University of Erlangen Nuremberg; University of Duisburg Essen; Leibniz Association; Ifo Institut
摘要：We develop a model of international trade with heterogeneous firms and monopsonistically competitive labour markets. We show that due to monopsonistic competition our model makes sharply different predictions about the effects of the export of goods and the offshoring of tasks. Trade in goods is unambiguously welfare increasing as domestic resources are reallocated to large firms with high productivity and firms with low productivities exit the market thereby reducing the monopsony distortion ...
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作者：Gehring, Kai
作者单位：University of Bern
摘要：Can external threats strengthen group identity? A growing body of research in economics emphasises the importance of cultural attributes such as identity for trust and cooperation. However, where these attributes come from is not well understood. This paper examines reactions to the Russian invasion of Ukraine in 2014, looking at European Union member states. Comparing low-threat to high-threat states in a difference-in-differences design, I find a sizeable and persistent positive effect on EU...
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作者：Griffith, Rachel
作者单位：University of London; London School Economics & Political Science
摘要：Obesity rates in the United Kingdom, and around the world, are high and rising. They are higher, and rising faster, amongst people growing up and living in deprivation. These patterns raise potential concerns about both market failures and equity. There is much that policy can do to address these concerns. However, policy can also do harm if it is poorly targeted or has unintended consequences. In order to design effective policies we need an understanding of who we are trying to target, and f...
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作者：Labandeira, Xavier; Labeaga, Jose M.; Teixido, Jordi J.
作者单位：Universidade de Vigo; Universidad Nacional de Educacion a Distancia (UNED); University of Barcelona
摘要：The global energy mix and cost structure of the power industry are experiencing a redefinition. Many countries are revamping electricity-pricing systems to guarantee fixed-cost recovery, often by raising the fixed charge of two-part tariff schemes. However, a key assumption of two-part tariff schemes and associated fixed-cost recoveries is that consumers discriminate fixed from marginal costs. We conduct a quasi-experiment with data from a major electricity price reform recently implemented in...
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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...
