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作者：Ochsner, Christian; Roesel, Felix
作者单位：Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Charles University Prague; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Leibniz Association; Ifo Institut; Technische Universitat Dresden
摘要：We show that migrating extremists can shape political equilibria in the long run. Regions in Austria that witnessed an influx of Nazis fleeing the Soviets after WWII still have significantly higher far-right vote shares today. Institutions and family ties perpetuate persistence. Migrated Nazi elites founded and penetrated local party branches that cultivate and preserve far-right ideologies, even when outside conditions temporarily change. Phonebook entries from 1942 allow tracing current far-...
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作者：Anderson, Simon P.; de Palma, Andre
作者单位：Universite Paris Saclay; University of Virginia; Institut Polytechnique de Paris; ENSAE Paris; Universite Paris Saclay
摘要：We show for CES demands with heterogeneous productivities that profit, revenue and output distributions lie in the same closed power family as the productivity distribution (e.g., the 'Pareto circle'). The price distribution lies in the inverse power family. Equilibrium distribution shapes are linked by linear relations between their density elasticities. Introducing product quality decouples the CES circle, and reconciles Pareto price and Pareto sales revenue distributions. We use discrete ch...
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作者：Enders, Zeno
作者单位：Leibniz Association; Ifo Institut; Ruprecht Karls University Heidelberg
摘要：This article proposes a novel mechanism by which changes in the distribution of money holdings have real aggregate effects. I develop a flexible-price model of segmented asset markets in which monetary policy influences the aggregate demand elasticity via heterogenous money holdings. Because varieties of consumption bundles are purchased sequentially, newly injected money disseminates slowly throughout the economy via second-round effects. The model predicts a short-term inflation-output trade...
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作者：Mandler, Michael
作者单位：University of London; Royal Holloway University London
摘要：The incompleteness of behavioural preferences can lead many or even all allocations to qualify as Pareto optimal. But the incompleteness does not undercut the precision of utilitarian policy recommendations. Utilitarian methods can be applied to groups of goods or to the multiple social welfare functions that arise when individual preferences are incomplete, and policymakers do not need to provide the preference comparisons that individuals are unable to make for themselves. The utilitarian or...
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作者：Chen, Yanlin; Zhang, Jun
作者单位：Nanjing Audit University; University of Technology Sydney
摘要：This article investigates how a privately informed seller could signal her type through Bayesian persuasion and pricing strategy. We find that it is generally impossible to achieve separation through one channel alone. Furthermore, the outcome that survives the intuitive criterion always exists and is unique. This outcome is separating, for which a closed-form solution is provided. The signalling concern forces the high-type seller to disclose inefficiently more information and charge a higher...
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作者：Bajgar, Matej; Javorcik, Beata
作者单位：Organisation for Economic Co-operation & Development (OECD); Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Charles University Prague; University of Oxford; Centre for Economic Policy Research - UK
摘要：This article argues that inflows of foreign direct investment can facilitate export upgrading in host countries. Using customs data merged with firm-level information for 2005-11, it shows a positive relationship between the quality of products exported by Romanian firms and the presence of multinational enterprises (MNEs) in the upstream (input-supplying) industries. Export quality is also positively related to MNE presence in the downstream (input-sourcing) industries and the same industry, ...
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作者：Carrere, Celine; Mrazova, Monika; Neary, J. Peter
作者单位：Leibniz Association; Ifo Institut
摘要：Gravity as both fact and theory is one of the great success stories of recent research on international trade, and has featured prominently in the policy debate over Brexit. We first review the facts, noting the overwhelming evidence that trade tends to fall with distance. We then introduce some expository tools for understanding constant-elasticity-of-substitution theories of gravity as a simple general-equilibrium system. Next, we point out some anomalies with the theory: mounting evidence a...
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作者：Di Tella, Rafael; Rodrik, Dani
摘要：We study preferences for government action in response to layoffs resulting from different types of labour-market shocks. We consider: technological change, a demand shift, bad management and three kinds of international outsourcing. Support for government intervention rises sharply in response to shocks and is heavily biased towards trade protection. Trade shocks generate more demand for protectionism and, among trade shocks, outsourcing to a developing country elicits greater demand for prot...
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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：Brollo, Fernanda; Kaufmann, Katja Maria; La Ferrara, Eliana
作者单位：University of Warwick; Centre for Economic Policy Research - UK; University of Warwick; University of Mannheim; Leibniz Association; Ifo Institut; IZA Institute Labor Economics; University of Mannheim; Bocconi University; Bocconi University
摘要：We study spillovers in learning about the enforcement of Bolsa Familia, a programme conditioning benefits on children's school attendance. Using original administrative data, we find that individuals' compliance responds to penalties incurred by their classmates and by siblings' classmates (in other grades/schools). As the severity of penalties increases with repeated noncompliance, the response is larger when peers are punished for 'higher stages' than the family's, consistent with learning. ...
