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作者：Mitchener, Kris James; O'Rourke, Kevin Hjortshoj; Wandschneider, Kirsten
作者单位：Santa Clara University; Centre for Economic Policy Research - UK; Leibniz Association; Ifo Institut; National Bureau of Economic Research; New York University; New York University Abu Dhabi; University of Vienna
摘要：We document the outbreak of a trade war after the United States adopted the Smoot-Hawley tariff in June 1930. U.S. trade partners initially protested, with many eventually choosing to retaliate with tariffs. Using a new quarterly dataset on bilateral trade for ninety-nine countries, we show that U.S. exports to retaliators fell by 28%-32%. Using a second new dataset on U.S. exports at the product level, we find that the most important U.S. exports to retaliating markets were particularly affec...
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作者：Meinen, Philipp; Soares, Ana Cristina
作者单位：Deutsche Bundesbank; Banco de Portugal
摘要：This paper analyses the impact of financial frictions on markup adjustments at the firm level. We use a rich panel data set that matches information on banking relationships with firm-level data. By relying on insights from recent contributions in the literature, we obtain exogenous credit supply shifters and markups that are both firm specific and time varying. We uncover new findings at this level. In particular, firms more exposed to liquidity risks tend to raise markups in response to nega...
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作者：De Jaegher, Kris
作者单位：Utrecht University
摘要：A model is presented where the welfare of contributors to a public good can increase when they face an adversary who ex post sabotages their efforts. It is a best response for the adversary to maximally sabotage the smallest effort, thus increasing a defector's marginal product of effort. This creates a kink in the individual contributor's payoff function around the equilibrium effort, which can lock contributors into exerting high effort. For a sufficiently large degree of complementarity bet...
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作者：Gsottbauer, Elisabeth; Mueller, Daniel; Mueller, Samuel; Trautmann, Stefan T.; Zudenkova, Galina
作者单位：University of Innsbruck; University of Munich; University of Mannheim; Ruprecht Karls University Heidelberg; Tilburg University; Dortmund University of Technology
摘要：Are individuals of higher socio-economic status less ethical than those of lower status? Highly popularised research findings claim that this is the case. This paper provides evidence against this claim, based on data from two large survey experiments with more than 11,000 participants. We prime social status in two heterogeneous samples of the German population and then elicit ethical behaviour in an incentivised experimental task. Thus, our data allows us to study both correlation (using dem...
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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：Geloso, Vincent J.; Magness, Phillip; Moore, John; Schlosser, Philip
作者单位：George Mason University; Wayne State University
摘要：Piketty and Saez () found a pronounced U-curve pattern of American income inequality since 1917, displaying a precipitous decline during World War II to a level that would hold until 1980. We offer revisions to their income inequality estimates prior to 1960 with three important findings. First, Piketty and Saez overstate inequality levels in this period. Second, the decline during World War II was smaller than depicted. Third, the Great Depression, rather than World War II, played the more si...
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作者：Schmitz, Patrick W.
作者单位：University of Cologne; Centre for Economic Policy Research - UK
摘要：A buyer wants to purchase an innovative good from a seller. Both parties are risk-neutral, and payments from the buyer to the seller must be non-negative. After the contract is signed, the seller privately observes a signal which may be informative about the seller's costs. We compare two contracting regimes. In the case of specific performance, the courts enforce the contractually specified trade level. In the case of at-will contracting, the seller is free to walk away from the contract afte...
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作者：Piguillem, Facundo; Shi, Liyan
摘要：We study quantitatively the optimality of quarantine and testing policies; and whether they are complements or substitutes. We extend the epidemiological susceptible-exposed-infectious-recovered model to incorporate an information friction. Our main finding is that testing is a cost-efficient substitute for lockdowns, rendering them almost unnecessary. By identifying carriers, testing contains the spread of the virus without reducing output, although the implementation requires widespread mass...
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作者：Macours, Karen; Premand, Patrick; Vakis, Renos
作者单位：Paris School of Economics; INRAE; The World Bank
摘要：We present experimental evidence on a programme aimed at improving households' risk management through income diversification. The intervention targeted rural Nicaraguan households exposed to weather variability and combined a one-year conditional cash transfer with vocational training or a productive investment grant. Both complementary interventions provided protection against weather shocks two years after the programme ended. Households that received the productive investment grant also ha...
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作者：McCarthy, David; Sefton, James; Lee, Ronald; Sambt, Joze
作者单位：University System of Georgia; University of Georgia; Imperial College London; University of California System; University of California Berkeley; University of Ljubljana
摘要：We develop Generational Wealth Accounts (GWA): the first set of balance sheets, by generations, to include all human capital, tangible wealth, financial wealth, and transfer wealth, and the uses to which these are put, and employ them to quantify inter-generational transfers and the sustainability of consumption. Consumption plans in the UK public sector worsened over the financial crisis and are unsustainable; private sector plans improved, and are now almost balanced. Increases in private ca...
