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作者：Glazer, Jacob; Herrera, Helios; Perry, Motty
作者单位：University of Warwick; Tel Aviv University; Centre for Economic Policy Research - UK
摘要：We propose a model of product reviews in which some are genuine and some are fake in order to shed light on the value of information provided on platforms like TripAdvisor, Yelp, etc. In every period, a review is posted which is either genuine or fake. We characterise the equilibrium of the dynamic model and prove that it is unique. In equilibrium, valuable learning takes place in every period. Fake reviews, however, do slow down the learning process. It is established that any attempt by the ...
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作者：Irwin, Douglas A.; Chepeliev, Maksym G.
作者单位：Dartmouth College; Purdue University System; Purdue University
摘要：This paper provides a quantitative general equilibrium evaluation of the repeal of Britain's Corn Laws in 1846. Using a detailed input-output matrix of the British economy in 1841, we find the abolition of Britain's tariff on imported grain left overall welfare roughly unchanged as the static efficiency gains are offset by terms-of-trade losses. Labourers and capital owners gained a slight amount at the expense of landowners. Combining these changes in factor payments with the different consum...
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作者：Rud, Juan Pablo; Trapeznikova, Ija
作者单位：University of London; Royal Holloway University London; University of London; London School Economics & Political Science
摘要：Least developed economies are characterized by poorly functioning labour markets: only a small fraction of workers are in paid employment, where productivity and wages are low. We incorporate a standard search framework into a two-sector model of development to assess the importance of different obstacles to job creation and productivity. The model provides new insights into the characterization of poorly developed labour markets that are observed in the data, such as high wage dispersion. We ...
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作者：Guyon, Nina; Hunk, Elise
作者单位：National University of Singapore; Universite PSL; Universite Paris-Dauphine; Universite PSL
摘要：Socially disadvantaged students are less likely to aspire to the top educational pathways than their advantaged classmates who have the same test scores. We identify two behavioural biases that explain most of this gap: socially disadvantaged students are less aware of the top educational pathways and underestimate their academic ability relative to their advantaged peers. We also find that lower educational aspirations at a point in time are associated with poorer school outcomes later on, af...
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作者：Szumilo, Nikodem
作者单位：University of London; University College London
摘要：The paper identifies neighbourhood price spillovers in the housing market. Although this concept has attracted some theoretical research and is strongly supported by practitioners, it has proven very difficult to show in empirical data. By using the linear-in-means model, which is routinely applied to identify endogenous effects in groups of peers, the study summarises all threats to identification and demonstrates how they can be addressed by exploiting information asymmetry between buyers of...
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作者：Sylvia, Sean; Warrinnier, Nele; Luo, Renfu; Yue, Ai; Attanasio, Orazio; Medina, Alexis; Rozelle, Scott
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of London; Queen Mary University London; KU Leuven; Peking University; Shaanxi Normal University; Yale University; National Bureau of Economic Research; Stanford University
摘要：A key challenge in developing countries interested in providing early childhood development (ECD) programmes at scale is whether these programmes can be effectively delivered through existing public service infrastructures. We present the results of a randomised experiment evaluating the effects of a home-based parenting programme delivered by cadres in China's Family Planning Commission (FPC)-the former enforcers of the one-child policy. We find that the programme significantly increased infa...
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作者：Friedrichsen, Jana; Konig, Tobias; Lausen, Tobias
作者单位：Humboldt University of Berlin; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; Linnaeus University; Leibniz University Hannover
摘要：We analyse the political economy of the public provision of private goods when individuals care about their social status. Status concerns motivate richer individuals to vote for the public provision of goods they themselves buy in markets: a higher provision level attracts more individuals to the public sector, enhancing the social exclusivity of market purchases. Majority voting may lead to a public provision that only a minority of citizens use. Users in the public sector may enjoy better p...
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作者：Miles, David; Sefton, James
作者单位：Imperial College London; Centre for Economic Policy Research - UK; Imperial College London
摘要：We analyse housing costs and patterns of residential development over the long term in a dynamic general equilibrium. We show that in a growing economy the speed of travel improvements is crucial to the evolution of land and house prices. We derive a condition for the rate of change in transport efficiency that generates flat land and house prices on a balanced growth path. We present evidence that this condition was satisfied in many countries between the mid-nineteenth century and the mid-tw...
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作者：Tsakas, Nikolas; Xefteris, Dimitrios; Ziros, Nicholas
作者单位：University of Cyprus
摘要：Vote trading in power-sharing systems-i.e., systems in which a voter's utility with respect to the election's outcome is proportional to the vote share of her favourite party-is, in theory, welfare improving. However, trading votes for money in majoritarian systems may have detrimental welfare effects, especially when voters' preference intensities are similar (Casella et al., 2012). We use a laboratory experiment to test the effect of vote trading in each of these popular electoral systems on...
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作者：Galaasen, Sigurd Molster; Irarrazabal, Alfonso
作者单位：Norges Bank; BI Norwegian Business School
摘要：In this paper we study the determinants of R&D heterogeneity and the economic impact of R&D subsidies. We estimate a Schumpeterian growth model featuring firms with heterogeneous innovation efficiencies. The model fits well the R&D investment distribution, and the frequency and relative size of R&D performers. Using the model, we study the impact of a Norwegian R&D reform targeting firms with R&D spending below a certain threshold. The size-dependent subsidy increases aggregate R&D investment ...
