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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 ...
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作者：Ghiglino, Christian; Juarez-Luna, David; Muller, Andreas
作者单位：University of Essex; Centre for Economic Policy Research - UK
摘要：Why do tax rates vary so much across countries? We study the role of other-regarding preferences and ethnic fragmentation in redistribution. A government is elected by altruistic voters and chooses a redistributive income tax. Altruism is directed towards social identity groups. Three main factors yield low levels of redistribution: (i) strong in-group altruism among rich voters-referred to as class altruism; (ii) weak universal altruism-in particular among the rich; and (iii) ethnic fragmenta...
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作者：Campbell, Arthur
作者单位：Monash University
摘要：An important task for organisations is establishing truthful communication between parties with differing interests. This task is made particularly challenging when the accuracy of the information is poorly observed or not at all. In these settings, incentive contracts based on the accuracy of information will not be very effective. This paper considers an alternative mechanism that does not require any signal of the accuracy of any information communicated to provide incentives for truthful c...
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作者：Fu, Shihe; Viard, V. Brian; Zhang, Peng
作者单位：The Chinese University of Hong Kong, Shenzhen; Shenzhen Research Institute of Big Data
摘要：We provide nationwide causal estimates of air pollution's effect on short-run productivity for China's manufacturing sector from 1998 to 2007. Using thermal inversions as an instrument, a 1 mu g/m(3) decrease in PM2.5 increases productivity by 0.82% (elasticity of -0.44). Increased hiring attenuates the elasticity to -0.17. Differential effects of a trade shock on coastal versus inner regions imply a pollution elasticity of output of 1.43. Simulating a dynamic general-equilibrium model yields ...
