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作者：Bhaskar, V.
作者单位：University of Texas System; University of Texas Austin
摘要：Secular trends in cohort size cause large marriage market imbalances due to the age gap at marriage between men and women. Positive cohort growth adversely affects women in South Asia and sub-Saharan Africa. Secular decline improves their position in East Asia. I show that the age gap at marriage will not adjust in order to equilibrate the marriage market in response to persistent imbalances, even though it accommodates transitory shocks. This implies large distributional consequences on the s...
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作者：Langella, Monica; Manning, Alan
作者单位：University of London; London School Economics & Political Science
摘要：This article investigates the impact of ethnic diversity on individuals' satisfaction with their neighbourhoods. It uses panel data and a variety of empirical methods to control for potential endogeneity of diversity and of location choices. We find that a higher white share raises overall satisfaction with the neighbourhood in our (overwhelming white) sample, but has no significant impact on generalised trust or other commonly used measures of social capital. We suggest that part of the impac...
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作者：Leonardi, Marco; Pellizzari, Michele; Tabasso, Domenico
作者单位：University of Milan; IZA Institute Labor Economics; University of Geneva
摘要：We revisit the role of labour market institutions by showing how they affect the sharing of firm-specific rents between employers and employees. We look at an Italian wage indexation mechanism ('Scala Mobile') that compressed the distribution of wages, imposing real wage increases at the bottom of the distribution. After developing a simplified version of a search model with intra-firm bargaining and on-the-job search, we document that skilled workers received lower wage adjustments when emplo...
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作者：Chen, Cheng; Tian, Wei; Yu, Miaojie
作者单位：Peking University; Clemson University; Peking University
摘要：We examine how domestic distortions affect firms' production strategies abroad by documenting two puzzling findings using Chinese firm-level data of manufacturing firms. First, private multinational corporations (MNCs) are less productive than state-owned MNCs, but they are more productive than state-owned enterprises overall. Second, there are disproportionately fewer state-owned MNCs than private MNCs. We build a model to rationalise these findings by showing that discrimination against priv...
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作者：Gauriot, Romain; Page, Lionel
作者单位：New York University; New York University Abu Dhabi; University of Technology Sydney
摘要：We study how agents adapt their behaviour to variations of incentives in dynamic contests. We investigate a real dynamic contest with large stakes: professional tennis matches. Situations in which balls bounce very close to the court's lines are used as the setting of a quasi-experiment providing random variations in winning probability. We find evidence of a momentum effect for men whereby winning a point has a positive causal impact on the probability to win the next one. This behaviour is c...
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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：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...
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作者：Devereux, Michael; Johannesen, Niels; Vella, John
作者单位：University of Oxford; University of Oxford; University of Copenhagen; University of Oxford; University of Oxford
摘要：Following the 2007-2008 financial crisis, a large number of countries introduced levies on bank borrowing intended to reduce risk in the financial sector. This article studies the behavioural responses to bank levies and finds that banks exposed to levies increased their reliance on equity funding, but at the same time increased the risk of their assets; banks shifted risk from the liability side of their balance sheets to the asset side, which mitigated the impact of government intervention. ...
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作者：Herrera, Helios; Llorente-Saguer, Aniol; McMurray, Joseph C.
作者单位：University of Warwick; University of Warwick; Center for Economic & Policy Research (CEPR); University of London; Queen Mary University London; Brigham Young University
摘要：The swing voter's curse is useful for explaining patterns of voter participation, but arises because voters restrict attention to the rare event of a pivotal vote. Recent empirical evidence suggests that electoral margins influence policy outcomes, even away from the 50% threshold. If so, voters should also pay attention to the marginal impact of a vote. Adopting this assumption, we find that a marginal voter's curse gives voters a new reason to abstain: to avoid diluting the pool of informati...
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作者：Argenziano, Rossella; Weeds, Helen
作者单位：University of Essex; Imperial College London
摘要：We analyse decision-making in the presence of Freedom of Information (FOI) rules. A decision-maker chooses whether to acquire costly information to inform his decision regarding a policy action. If information is not disclosed voluntarily a monitor may open a costly investigation, using FOI to access the information. A finding of biased decision-making or negligence in information acquisition generates a reward to the monitor and a penalty to the decision-maker. We find that strengthening FOI ...
