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作者：Benhima, Kenza; Blengini, Isabella
作者单位：University of Lausanne; University of Applied Sciences & Arts Western Switzerland
摘要：The nature of the private sector's information changes the optimal conduct of monetary policy. When firms observe their individual demand and use it as a signal of real shocks, the optimal policy consists in maximising the information content of that signal. When real shocks are deflationary (like labour supply shocks), the optimal policy is countercyclical and magnifies price movements, which contrasts with the exogenous information case, where optimal monetary policy is procyclical and stabi...
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作者：Cooper, David J.; Hamman, John R.; Weber, Roberto A.
作者单位：State University System of Florida; Florida State University; University of East Anglia; University of Zurich
摘要：We investigate 'social credibility', a leader's ability to convince followers that conditions are favourable and that others will follow the leader's advice. To do so, we study an experimental joint venture with three key properties: returns are uncertain, investments are complements, and investment is often more beneficial for the leader than the followers. The leader has private information about investment returns and can facilitate coordination through cheap-talk recommendations. We find t...
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作者：Guo, Rufei; Zhang, Junsen
作者单位：Wuhan University; Zhejiang University; Chinese University of Hong Kong
摘要：Do parents forge children's preference for old-age support? Becker (1993) conjectures that the inculcation of filial piety increases parents' investment in children's human capital. We provide the first empirical evidence on parents' instilling of filial piety in children, by combining the natural experiment of twins with China's One-Child Policy to obtain exogenous variations in children's gender composition. Among the different models of filial-piety inculcation, our empirical results favour...
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作者：Levine, Ross; Lin, Chen; Xie, Wensi
作者单位：University of California System; University of California Berkeley; University of Hong Kong; Chinese University of Hong Kong
摘要：We evaluate the impact of the African slave trade between 1400 and 1900 on modern household finance. Exploiting cross-country and cross-ethnic group differences in the intensity with which people were enslaved and exported from Africa, we find that slave exports during the 1400-1900 period are negatively associated with current measures of household (a) access to financial services, (b) access to credit, (c) use of mobile finance and (d) trust in financial institutions, suggesting that the sla...
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作者：Hansen, Casper Worm; Jensen, Peter Sandholt; Madsen, Peter Egedeso
作者单位：University of Copenhagen; University of Southern Denmark
摘要：Tuberculosis (TB) is a leading cause of death worldwide and while treatable by antibiotics since the 1940s, drug resistant strains have emerged. This article estimates the effects of the establishment of a pre-antibiotic public health institution, known as a TB dispensary, designed to prevent the spread of the disease. Our annual difference-in-differences estimation reveals that the rollout of the dispensaries across Danish cities led to a 19% decline in the TB mortality rate, but no significa...
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作者：Jann, Ole; Schottmueller, Christoph
作者单位：Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Charles University Prague; University of Cologne; Tilburg University
摘要：Privacy of consumers or citizens is often seen as an inefficient information asymmetry. We challenge this view by showing that privacy can increase welfare in an informational sense. It can also improve information aggregation and prevent inefficient statistical discrimination. We show how and when the different informational effects of privacy line up to make privacy efficient or even Pareto-optimal. Our theory can be applied to decide who should have which information and how privacy and inf...
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作者：Hardy, Morgan; Kagy, Gisella
作者单位：New York University; New York University Abu Dhabi; Vassar College
摘要：This article considers market-level contributors to the well-documented gender profit gap among micro-entrepreneurs. We combine data from a garment-making firm census and market research survey in Ghana, uncovering a gender gap in the market-size-to-firm ratio and observing disproportionate self-reports of 'not enough customers' from female owners. We develop a simple model and discuss implications of potential gender differences in demand constraints. As experimental corroboration, we show th...
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作者：Bolton, Gary E.; Mans, Johannes; Ockenfels, Axel
作者单位：University of Texas System; University of Texas Dallas; University of Cologne
摘要：The provision of trader feedback is critical to the functioning of many markets. We examine the influence of group identity on the volunteering and informativeness of feedback. In a market experiment conducted simultaneously in Germany and the United States, we manipulate the interaction of traders based on natural social and induced home market identities. Traders are more likely to provide feedback information on a trader with whom they share a common group identity, and the effect is more p...
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作者：Bar, Revital; Zussman, Asaf
作者单位：Hebrew University of Jerusalem
摘要：How does one's identity affect the evaluation of others? To shed light on this question, we analyse the universe of driving tests conducted in Israel between 2006 and 2015, leveraging the effectively random assignment of students and testers to tests. We find strong and robust evidence of both ethnic (Arab/Jewish) in-group bias and gender out-group bias. While the first result is in line with the typical finding in the literature, the second is novel. Analyses of administrative and survey data...
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作者：Damiano, Ettore; Li, Hao; Suen, Wing
作者单位：University of Toronto; University of British Columbia; University of Hong Kong
摘要：An agent performing risky experimentation can benefit from suspending it to learn directly about the state. 'Positive' information acquisition seeks news that would confirm the state that favours experimentation. It is used as a last-ditch effort when the agent is pessimistic about the risky arm before abandoning it. 'Negative' information acquisition seeks news that would demonstrate that experimentation is futile. It is used as an insurance strategy to avoid wasteful experimentation when the...
