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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：Marin, Dalia; Rousova, Linda; Verdier, Thierty
作者单位：Technical University of Munich; European Central Bank; Paris School of Economics; Institut Polytechnique de Paris; Ecole des Ponts ParisTech; Pontificia Universidade Catolica do Rio de Janeiro
摘要：What determines whether or not multinational firms transplant the mode of organisation to other countries? We embed the theory of knowledge hierarchies in an industry equilibrium model of monopolistic competition to examine how the economic environment may affect the decision of multinational firms about transplanting the mode of organisation to other countries. We test the theory with original and matched parent and affiliate data on the level of decentralisation of 660 Austrian and German mu...
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作者：Dellas, Harris; Niepelt, Dirk
作者单位：University of Bern; Study Center Gerzensee
摘要：We study the optimal debt and investment decisions of a sovereign with private information. The separating equilibrium is characterised by a cap on the current account. A sovereign repays debt amount due that exceeds default costs in order to signal creditworthiness and smooth consumption. Accepting funding conditional on investment/reforms relaxes borrowing constraints, even when investment does not create collateral, but it depresses current consumption. The model contains the signalling ele...
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作者：Choi, Michael; Rocheteau, Guillaume
作者单位：University of California System; University of California Irvine; Universite Paris-Pantheon-Assas
摘要：We develop a New Monetarist model in continuous time where agents trade continuously in competitive markets and infrequently in pairwise meetings. Agents can produce and consume both in flows over time intervals and in discrete quantities at points in time. We detail the methodology to solve individual optimisation problems and characterise the full set of perfect foresight equilibria. We illustrate the role of continuous time and the tractability of our approach with three applications relate...
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作者：Mujcic, Redzo; Frijters, Paul
作者单位：University of Warwick; University of London; London School Economics & Political Science
摘要：We use a natural field experiment to estimate the causal effect of race on discretionary favours in the marketplace. Test customers are randomly assigned to board public buses with no money to purchase a fare. leaving the bus driver to voluntarily decide whether to offer them a free ride. Based on 1,552 transactions, we uncover strong evidence of racial bias: bus drivers were twice as willing to let white testers ride free as black testers (72% vs. 36% of the time). Signals of wealth and patri...
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作者：Martin, Ian W. R.; Pindyck, Robert S.
作者单位：University of London; London School Economics & Political Science
摘要：Most of the literature on the economics of catastrophes assumes that such events cause a reduction in the stream of consumption, as opposed to widespread fatalities. Here we show how to incorporate death in a model of catastrophe avoidance, and how a catastrophic loss of life can be expressed as a welfare-equivalent drop in consumption. We examine how potential fatalities affect the policy interdependence of catastrophic events and 'willingness to pay' (WTP) to avoid them. Using estimates of t...
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作者：Penglase, Jacob
摘要：The share of household resources devoted to a child may depend on their gender, birth order, or relationship to the household head. However, it is challenging to determine whether parents favour certain children over others as consumption data are collected at the household level and goods are shared among family members. I develop a new methodology using the collective household framework to identify consumption inequality between different types of children. I apply this method to child fost...
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作者：Buckles, Kasey; Hungerman, Daniel; Lugauer, Steven
作者单位：University of Notre Dame; IZA Institute Labor Economics; National Bureau of Economic Research; University of Kentucky
摘要：Many papers show that aggregate fertility is pro-cyclical over the business cycle. Using data on more than 100 million births from 1988 to 2014, we show that for recent recessions in the United States, there is a large and rapid fall in the growth rate of conceptions several quarters prior to economic decline. This newly emerging pattern appears in the aggregate data, as well as within individual states and in many European countries. Our findings suggest that fertility behaviour is more forwa...
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作者：Carlsson, Mikael; Messina, Julian; Skans, Oskar Nordstrom
作者单位：Uppsala University; Sveriges Riksbank; Inter-American Development Bank; IZA Institute Labor Economics
摘要：We analyse how labour flows respond to permanent idiosyncratic shifts in firm-level production functions and demand curves using very detailed Swedish micro data. Shocks to firms' physical productivity have only modest effects on firm-level employment decisions. In contrast, we document rapid and substantial employment adjustments through hires and separations in response to firm-level demand shocks. The choice of adjustment margin depends on the sign of the shock: firms adjust through increas...
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作者：Laureys, Lien
作者单位：Bank of England
摘要：This paper argues that human capital depreciation during unemployment generates an externality in job creation: firms ignore how their hiring decisions affect the skill composition of the future unemployment pool, and hence the output produced by new hires. As a consequence. job creation is too low from a social point of view. But the extent to which it is too low varies over the cycle. The reason is that the increase in the expected productivity of a new hire from next period's unemployment p...
