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作者：Floden, Martin; Kilstrom, Matilda; Sigurdsson, Josef; Vestman, Roine
作者单位：Stockholm University; Sveriges Riksbank; Stockholm School of Economics; Norwegian School of Economics (NHH)
摘要：We examine the effect of monetary policy on household spending when households are indebted and interest rates on outstanding loans are linked to short-term interest rates. Using administrative data on balance sheets and consumption expenditure of Swedish households, we reveal the cash-flow transmission channel of monetary policy. On average, indebted households reduce consumption spending by an additional 0.23-0.55 percentage points in response to a one-percentage-point increase in the policy...
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作者：de Corniere, Alexandre; Taylor, Greg
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; University of Oxford
摘要：We present a novel rationale for bundling in vertical relations. In many markets, upstream firms compete to be in the best downstream slots (e.g., the best shelf in a retail store or the default application on a platform). If a multi-product upstream firm faces competition for a subset of its products, we show that tying the monopolised product with the competitive ones can reduce upstream rivals' willingness to offer slotting fees to retailers. This strategy does not rely on entry deterrence ...
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作者：Jacks, David S.; Pendakur, Krishna; Shigeoka, Hitoshi
作者单位：Simon Fraser University; Simon Fraser University
摘要：Using new data on county-level variation in alcohol prohibition from 1933 to 1939, we investigate whether the repeal of federal prohibition increased infant mortality, both in counties and states that repealed and in neighbouring counties. We find that repeal is associated with a 4.0% increase in infant mortality rates in counties that chose wet status via local option elections or state-wide legislation and with a 4.7% increase in neighbouring dry counties, suggesting a large role for cross-b...
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作者：Bourguignon, Francois; Platteau, Jean-Philippe
作者单位：Paris School of Economics; University of Namur
摘要：This article revisits the inter-country aid allocation by a donor who must distribute a given aid amount and is sensitive to needs and governance considerations. Against conventional wisdom, if the donor has strong enough aversion to poverty, the share of a country whose governance has improved is reduced. Yet, the poor will still be better off. These results continue to hold when aid effectiveness depends on intrinsic governance and the volume of aid received, and when a more general dynamic ...
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作者：Hallward-Driemeier, Mary; Kochanova, Anna; Rijkers, Bob
作者单位：Cardiff University
摘要：Does democratisation promote economic competition? This paper documents that the disruption of political connections associated with Suharto's fall had a modest pro-competitive effect on Indonesian manufacturing industries. Firms with connections to Suharto lost substantial market share following his resignation. Industries in which Suharto family firms had larger market share during his tenure exhibited weak improvements in broader measures of competition in the post-Suharto era relative to i...
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作者：Marx, Benjamin; Pons, Vincent; Suri, Tavneet
作者单位：National Bureau of Economic Research; Centre National de la Recherche Scientifique (CNRS); Institut d'Etudes Politiques Paris (Sciences Po); Harvard University; Massachusetts Institute of Technology (MIT)
摘要：In a large-scale randomised experiment implemented with Kenya's Electoral Commission, text messages intended to mobilise voters boosted electoral participation. However, the messages also decreased trust in electoral institutions after the election. This decrease was stronger for individuals on the losing side and in areas that experienced election-related violence. We hypothesise that the mobilisation campaign backfired because the Electoral Commission promised a transparent and orderly elect...
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作者：Carillo, Mario F.
作者单位：University of Naples Federico II
摘要：This article explores the long-run effect of agricultural policies on industrialisation and economic development. I analyse the differential effect of the Battle for Grain, implemented by the Italian Fascist regime to achieve self-sufficiency in wheat, on the development path across areas of Italy. Employing cross-sectional variation in land suitability for advanced wheat production technologies, along with time variation in their diffusion, I find that the policy had unintended positive effec...
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作者：Chowdhury, Subhasish M.; Kovenock, Dan; Arjona, David Rojo; Wilcox, Nathaniel T.
作者单位：University of Bath; Chapman University System; Chapman University; University of North Carolina; Appalachian State University
摘要：This article examines the influence of focality in Colonel Blotto games with a lottery contest success function (CSF), where the equilibrium is unique and in pure strategies. We hypothesise that the salience of battlefields affects strategic behaviour (the salient target hypothesis) and present a controlled test of this hypothesis against Nash predictions, checking the robustness of equilibrium play. When the sources of salience come from asymmetries in battlefield values or labels (as in Sche...
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作者：Richter, Michael; Rubinstein, Ariel
作者单位：University of London; Tel Aviv University; New York University
摘要：Each member of a group chooses a position and has preferences regarding his chosen position. The group's harmony depends on the profile of chosen positions meeting a specific condition. We analyse a solution concept (Richter and Rubinstein, 2020) based on a permissible set of individual positions, which plays a role analogous to that of prices in competitive equilibrium. Given the permissible set, members choose their most preferred position. The set is tightened if the chosen positions are in...
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作者：Camous, Antoine; Cooper, Russell
作者单位：University of Mannheim; European University Institute
摘要：This paper studies the determination of income taxes in a dynamic setting with human capital accumulation. The goal is to understand the factors that support an outcome without complete redistribution. given a majority of relatively poor agents and the inability to commit to future taxes. All agents agree ex ante that limiting tax and transfers is beneficial but a majority favours large redistribution, ex post. at the time of the vote. in a political influence game, group activism limits the s...
