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作者：Albrecht, James; Robayo-Abril, Monica; Vroman, Susan
作者单位：Georgetown University; The World Bank
摘要：We extend the Diamond-Mortensen-Pissarides model of equilibrium unemployment to incorporate public-sector employment. We calibrate our model to Colombian data and analyse the effects of public-sector wage and employment policy on the unemployment rate, on the division of employment between the private and public sectors, and on the distributions of wages in the two sectors.
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作者：Englmaier, Florian; Fahn, Matthias
作者单位：University of Munich; Leibniz Association; Ifo Institut; Johannes Kepler University Linz
摘要：The corporate finance literature documents that managers tend to over-invest in their companies. A number of theoretical contributions have aimed at explaining this stylised fact and most have focused on a fundamental agency problem between shareholders and managers. This article shows that over-investments are not necessarily the (negative) consequence of agency problems between shareholders and managers but instead might be a second-best optimal response to address problems of limited commit...
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作者：Wang, Wei; Suen, Richard M. H.
作者单位：Jinan University; University of Leicester
摘要：Is a more heterogeneous population beneficial or harmful to long-term economic performance? This article addresses this and other questions in a dynamic general equilibrium model where consumers differ in their labour productivity and time preference. We show how differences in the cross-sectional distribution of these characteristics can affect the economy via two channels. The first one involves changing the composition of the labour force; and the second one involves changing the cross-sect...
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作者：Estevan, Fernanda; Gall, Thomas; Morin, Louis-Philippe
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作者：Nordvik, Frode Martin
作者单位：BI Norwegian Business School
摘要：A large literature investigates the relation between oil and conflict, yet no empirical study has found any link between oil and coups d'etat. Using a new data set on oil production separated into onshore and offshore volumes, oil price shocks are seen to promote coups in onshore-intensive oil countries, while preventing them in offshore-intensive oil countries. A likely mechanism is that onshore oil motivates military build-ups, while offshore oil does not. From a political leader's point of ...
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作者：Fisher, Hayley; Zhu, Anna
作者单位：University of Sydney; University of Queensland; ARC Centre of Excellence for Children & Families Over the Life Course; IZA Institute Labor Economics; Royal Melbourne Institute of Technology (RMIT)
摘要：This article examines how a reduction in the financial resources available to lone parents affects repartnering. We exploit an Australian natural experiment that reduced the financial resources available to a subset of separating parents. Using biweekly administrative data capturing separations occurring among low- and middle- income couples, we show that the policy reform significantly increased the speed of repartnering for affected separating mothers. The results demonstrate that one way th...
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作者：Freeman, David J.
作者单位：Simon Fraser University
摘要：This article characterises the behavioural content of a model of choice under risk with reference-dependent preferences and endogenous expectations-based reference points based on the preferred personal equilibrium model of Koszegi and Rabin (2006). The combination of reference-dependent preferences and endogenous reference points leads to violations of the Independence Axiom and can also lead to violations of the Weak Axiom of Revealed Preference. An axiomatic characterisation shows that the ...
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作者：Hyytinen, Ari; Steen, Frode; Toivanen, Otto
作者单位：Hanken School of Economics; Norwegian School of Economics (NHH); Norwegian School of Economics (NHH); Aalto University; KU Leuven
摘要：We study the contracts of 898 legal Finnish cartels. Cartels that exclusively allocate markets, either geographically or in the product/production space, are dominant in manufacturing. They are often bilateral and include a vertical dimension. Structural industry characteristics predict the type of a cartel, e.g., consistent with theory, quota cartels are more common in manufacturing and when buyers are primarily industrial. The contracts of quota cartels include more (governance) clauses. Pur...
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作者：Kanbur, Ravi; Snell, Andy
作者单位：University of Edinburgh; Cornell University
摘要：Inequality indices are traditionally interpreted as measures of deviations from equality. This article interprets them instead as statistical tests for a null of fairness within well-defined income generating processes. We find that the likelihood ratio (LR) test for fairness versus unfairness within two such processes are proportional to Theil's first and second inequality indices respectively. The LR values may be used either as a test statistic or to approximate a Bayes factor that measures...
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作者：Jia, Ruixue; Ku, Hyejin
作者单位：University of London; University College London; University of London; University College London; University of California System; University of California San Diego; University of London; University College London
摘要：This paper studies the impact of air pollution spillover from China to South Korea. To isolate the effects of cross-border pollution spillover from that of locally generated pollution, we exploit within-South Korea and over-time variation in the incidence of Asian dust-a meteorological phenomenon exogenous to district-time cells in South Korea-together with temporal variations in China's air quality. We find that conditional on being exposed to Asian dust, increased pollution in China leads to...
