-
作者：Hanlon, W. Walker
作者单位：National Bureau of Economic Research
摘要：This article provides the first rigorous estimates of how industrial air pollution from coal burning affects long-run city growth. I introduce a new theoretically grounded strategy for estimating this relationship and apply it to data from highly polluted British cities from 1851 to 1911. I show that local industrial coal use substantially reduced long-run city employment and population growth. Moreover, a counterfactual analysis suggests that plausible improvements in coal-use efficiency woul...
-
作者：Druedahl, Jeppe; Jorgensen, Thomas H.
作者单位：University of Copenhagen
摘要：The degree to which consumers can distinguish persistent from transitory income shocks is paramount for consumption-saving dynamics. In particular, even a small amount of imperfect information causes a severe bias in conventional estimators of the marginal propensity to consume. We provide a novel method that can identify consumers' degree of information by using panel data on income and consumption, even allowing for measurement error. Employing our method to data from the Panel Study of Inco...
-
作者：Feng, Andy; Valero, Anna
摘要：This article investigates the link between management practices and workforce skills in manufacturing firms, exploiting geographical variation in the supply of human capital. Skills measures are constructed using newly compiled data on universities and regional labour markets across 19 countries. Consistent with management practices being complementary with skills, we show that firms further away from universities employ fewer skilled workers and are worse managed, even after controlling for a...
-
作者：Duggan, John; Martinelli, Cesar
作者单位：University of Rochester; George Mason University
摘要：We consider elections with hidden preferences and hidden actions, in which neither voters nor politicians can commit to future choices. When politicians are highly office motivated, they respond by choosing high policies to signal that they are above average, and some below-average politicians must randomise between choosing policies near their ideal points and mimicking above-average politicians by choosing high policies. If voter preferences are increasing, then elections deliver positive ou...
-
作者：Kreiner, Claus Thustrup; Leth-Petersen, Soren; Willerslev-Olsen, Louise Charlotte
作者单位：University of Copenhagen
摘要：This article uses administrative data with longitudinal information about defaults for the entire Danish population to analyse the driving forces behind financial problems. Non-parametric evidence shows that the default propensity is more than four times higher for individuals with parents in default compared with that for individuals with parents not in default. This intergenerational relationship is apparent soon after children move into adulthood and become legally able to borrow, and is re...
