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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：de Groot, Oliver
作者单位：University of Liverpool; Centre for Economic Policy Research - UK
摘要：This article studies the effect of liquidity crises in short-term debt markets in a dynamic general equilibrium framework. Creditors (retail banks) receive imperfect signals regarding the profitability of borrowers (wholesale banks) and, based on these signals and their beliefs about other creditors' actions, choose whether to roll over funding, or not. The unco-ordinated actions of creditors cause a suboptimal incidence of rollover, generating an illiquidity premium. Leverage magnifies this c...
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作者：Bouet, Antoine; Laborde, David; Martimort, David
作者单位：Paris School of Economics; CGIAR; International Food Policy Research Institute (IFPRI)
摘要：We consider a general equilibrium model of international trade with two layers of informational asymmetries. Private information of Home producers on costs affects the design of 'behind-the-border' policies reflecting the political influence of inefficient producers. Home's supply is contracted, causing trade, and motivating the use of tariffs. Eliminating those instruments by means of a trade agreement may become impossible once Home has also private information on its redistributive concerns...
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作者：Bingley, Paul; Cappellari, Lorenzo; Tatsiramos, Konstantinos
作者单位：Catholic University of the Sacred Heart; IZA Institute Labor Economics; University of Luxembourg
摘要：Using administrative data for the population of Danish men and women, we develop an empirical model which accounts for the joint earnings dynamics of siblings and youth community peers. We provide the first decomposition of the sibling correlation of permanent earnings into family and community effects allowing for life-cycle dynamics and extending the analysis to consider other outcomes. We find that family is the most important factor influencing sibling correlations of earnings, education a...
