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作者：da Fonseca, Mariana Lopes
作者单位：University of St Gallen; Max Planck Society
摘要：I use the introduction of mayoral term limits in Portugal to identify how an exogenous variation in eligibility for office affects policy decisions. Relying on a quasi-experimental difference-in-differences approach, I find that term-limited incumbents pursue more conservative fiscal policies than those who are eligible for re-election. Heterogeneous effects show that the treatment effects primarily reflect the behaviour of right-leaning, term-limited incumbents. Results are in line with a mod...
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作者：Bo, Inacio; Hakimov, Rustamdjan
作者单位：University of York - UK; University of Lausanne
摘要：We test experimentally the Gale-Shapley Deferred Acceptance mechanism versus two versions of the Iterative Deferred Acceptance Mechanism, in which students make applications one at a time. A significantly higher proportion of stable outcomes is reached under Iterative Deferred Acceptance Mechanism than under Deferred Acceptance. The difference can be explained by a higher proportion of subjects following an equilibrium truthful strategy under iterative mechanisms than the dominant strategy of ...
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作者：Jiang, Shenzhe; Zhang, Yuzhe
作者单位：Peking University; Texas A&M University System; Texas A&M University College Station; Peking University
摘要：This article studies the optimal design of the Pacific Salmon Treaty, which was signed by the USA and Canada in 1999 to share salmon on the Pacific coast. Moral hazard exists because countries may steal from each other. If a country's observed output is suspiciously too high, the treaty either reduces the country's future share, or asks the country to make a monetary transfer to its opponent. A calibrated version of our model shows that it is optimal for the USA to pay Canada $328.93 million e...
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作者：Cahuc, Pierre; Charlot, Olivier; Malherbet, Franck; Benghalem, Helene; Limon, Emeline
作者单位：CY Cergy Paris Universite; Institut Polytechnique de Paris; Ecole Polytechnique; ENSAE Paris; Institut Polytechnique de Paris; ENSAE Paris; University of Lausanne
摘要：This article analyses the consequences of the taxation of temporary jobs of short duration recently introduced in several European countries to induce firms to create more open-ended contracts and to increase the duration of jobs. The estimation of a job search and matching model on French data shows that the taxation of temporary jobs does not reach its objectives: it reduces the mean duration of jobs and decreases job creation, employment and welfare of unemployed workers.
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作者：Berger, Loic; Bosetti, Valentina
作者单位：Universite de Lille; Bocconi University
摘要：Behavioural traits and preferences of decision-makers (DMs) affect the way they take their decisions. While this assertion is generally true for decisions taken at the individual level, it may also be important for collective decisions (depending on the way they are taken). Although it has long been argued that the behavioural traits of policymakers do not matter much at the time of making decisions-because of the broader interests these individuals are supposed to represent-in practice, these...
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作者：Peri, Alessandro; Rachedi, Omar
作者单位：University of Colorado System; University of Colorado Boulder; Banco de Espana
摘要：US corporate default rates increased dramatically from an annual average of 0.32% between 1950 and 1984 up to 1.65% since 1985. Meanwhile, credit spreads rose by just 6 basis points. We argue that financial development-intended as an exogenous reduction in the fixed cost of borrowing-accounts for this evidence. In a heterogeneous firm model financial development boosts both default rates and firms' expected recovery rates. These two effects offset each other, muting the change in the credit sp...
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作者：Assuncao, Juliano; Gandour, Clarissa; Rocha, Romero; Rocha, Rudi
摘要：In 2008, the Brazilian government made the concession of rural credit in the Amazon conditional upon stricter requirements as an attempt to curb forest clearings. This article studies the impact of this innovative policy on deforestation. Difference-in-differences estimations based on a panel of municipalities show that the policy change led to a substantial reduction in deforestation, mostly in municipalities where cattle ranching is the leading economic activity. The results suggest that the...
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作者：Camargo, Braz; Gerardi, Dino; Maestri, Lucas
作者单位：Getulio Vargas Foundation; Collegio Carlo Alberto; University of Turin
摘要：We study efficiency in non-stationary decentralised markets with common-value uncertainty and correlated asset values. There is an equal mass of buyers and sellers and payoffs from trade depend on an aggregate state, which only the sellers know. Buyers and sellers are randomly and anonymously matched in pairs over time, and buyers make the offers. We show that all equilibria become efficient as trading frictions vanish.
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作者：Alan, Sule; Ertac, Seda; Kubilay, Elif; Loranth, Gyongyi
作者单位：European University Institute; Ihsan Dogramaci Bilkent University; Koc University; University of Essex; University of Vienna
摘要：Using data from a large-scale field experiment, we show that while there is no gender difference in willingness to make risky decisions on behalf of a group in a sample of children, a large gap emerges in a sample of adolescents. The proportion of girls who exhibit leadership willingness drops by 39%, going from childhood to adolescence. We explore the possible factors behind this drop and find that it is largely associated with a dramatic decline in 'social confidence', measured by willingnes...
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作者：Breinlich, Holger; Nocke, Volker; Schutz, Nicolas
作者单位：University of Surrey; Centre for Economic Policy Research - UK; University of Surrey; University of Mannheim
摘要：In a two-country international trade model with oligopolistic competition, we study the conditions on market structure and trade costs under which a merger policy designed to benefit domestic consumers is either too tough or too lenient, from the viewpoint of the foreign country. We calibrate the model to match industry-level data in the USA and Canada. Our results suggest that, at present levels of trade costs, merger policy is too tough in the vast majority of sectors. We also quantify the r...
