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作者：Hong, Chew Soo; Ratchford, Mark; Sagi, Jacob S.
作者单位：National University of Singapore; Hong Kong University of Science & Technology; Vanderbilt University; University of North Carolina; University of North Carolina Chapel Hill
摘要：After screening for attentiveness and comprehension, we present subjects with Ellsberg's (1961) two-urn problem using essentially equivalent but representationally complex matrices. High-comprehension subjects exhibit rates of ambiguity aversion typical of the standard two-urn problem, while low-comprehension subjects appear to randomise. In screening, we classify subjects as probability-minded' or ambiguity-minded', depending on whether they assign probabilities to draws from a card deck of u...
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作者：Cooper, Russell; Gong, Guan; Yan, Ping
作者单位：National Bureau of Economic Research; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Shanghai University of Finance & Economics; Peking University
摘要：This article studies the employment and productivity implications of new Chinese labour regulations. We estimate a general equilibrium model of costly labour adjustment from data prior to the policy to study the effects of the interventions. Increases in severance payments are particularly effective and lead to sizable private sector responses. If in place at the time, these frictions would have reduced China's annual growth rate by nearly 1 percentage point between 1998 and 2007, a period of ...
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作者：Fitzsimons, Emla; Malde, Bansi; Vera-Hernandez, Marcos
作者单位：University of London; University College London; UCL Institute of Education; University of London; London School Economics & Political Science; University of Kent; University of London; University College London
摘要：This paper studies the relationship between group size and informal risk sharing. It shows that under limited commitment with coalitional deviations, this relationship is theoretically ambiguous. It investigates this question empirically using data on sibship size of household heads and spouses from rural Malawi, exploiting a social norm among the main sample ethnic group to define the potential risk-sharing group. We uncover evidence of worse risk sharing of crop losses in larger potential ri...
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作者：Coffey, Diane; Geruso, Michael; Spears, Dean
作者单位：University of Texas System; University of Texas Austin; National Bureau of Economic Research; University of Texas System; University of Texas Austin
摘要：Anaemia impairs physical and cognitive development in children and reduces human capital accumulation. The prior economics literature has focused on the role of inadequate nutrition in causing anaemia. This article is the first to show that sanitation, a public good, significantly contributes to preventing anaemia. We identify effects by exploiting rapid and differential improvement in sanitation across regions of Nepal between 2006 and 2011. Within regions over time, cohorts of children expos...
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作者：Bekkers, Eddy; Francois, Joseph F.; Rojas-Romagosa, Hugo
作者单位：University of Bern; University of Bern; Center for Economic & Policy Research (CEPR); CPB Netherlands Bureau for Economic Policy
摘要：One consequence of melting Arctic ice caps is the commercial viability of the Northern Sea Route, connecting East Asia with Europe. This represents a sizeable reduction in shipping distances and average transportation days compared to the conventional Southern Sea Route. We examine the economic impact of opening this route in a multi-sector Eaton-Kortum model with intermediate linkages. We find remarkable shifts in trade flows between Asia and Europe, diversion of trade within Europe, heavy sh...
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作者：Kuran, Timur; Rubin, Jared
作者单位：Duke University; Chapman University System; Chapman University
摘要：In advanced economies interest rates vary inversely with the risk of default, which itself is negatively related to the borrower's socio-economic status. The former relationship depends on the impartiality of the law. Where the law is markedly biased in favour of certain groups, these groups will pay a surcharge for capital. Legal power, as measured by privileges before the law, thus undermines financial power, the capacity to borrow cheaply. Developing this argument, this article also tests i...
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作者：Mengel, Friederike
作者单位：University of Essex; Lund University
摘要：This article reports the results of a meta-study of 96 prisoner's dilemma studies comprising more than 3,500 participants. I disentangle the role of 'risk' (to co-operate unilaterally) and 'temptation' (to defect against a co-operator) and find that: (i) an index of risk best explains the variation in cooperation rates across one-shot games, while (ii) an index of temptation best explains the variation in finitely repeated games. Risk and temptation indices also affect gender comparisons. Wome...
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作者：Combes, Jean-Louis; Debrun, Xavier; Minea, Alexandru; Tapsoba, Rene
作者单位：Universite Clermont Auvergne (UCA); International Monetary Fund; Universite de Orleans; Carleton University
摘要：We examine how inflation targeting (IT) and fiscal rules (FR) affect inflation and fiscal performance in a large panel of countries during 1990-2009. In line with theory, both FR and IT appear to shape monetary and fiscal outcomes. Significant cross-effects seem to exist as IT strengthens fiscal performance, whereas the combination of FR and IT tends to be associated with more disciplined macroeconomic policies than if only one of these institutions operates. Our findings suggest that IT and F...
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作者：Amodio, Francesco; Di Maio, Michele
作者单位：McGill University; Parthenope University Naples
摘要：This article investigates whether conflict induces distortions in the functioning and accessibility of markets for production inputs and in their allocation among firms. We study firm operations and outcomes in the context of Palestine during the Second Intifada. We analyse input usage over time across districts experiencing differential changes in conflict intensity. Conflict induces firms to substitute domestically produced materials for imported ones. Counterfactual analyses show that this ...
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作者：Morgan, John; Sisak, Dana; Vardy, Felix
作者单位：International Monetary Fund; University of California System; University of California Berkeley; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Tinbergen Institute
摘要：Is it better to be a big fish in a small pond or a small fish in a big pond? To find out, we study self-selection into contests. Our simple model predicts that: (i) entry into the big pond - in terms of show-up fees, number or value of prizes - is non-monotonic in ability; (ii) entry into the more meritocratic pond is likewise non-monotonic, exhibiting two interior extrema and disproportionately attracting very low ability types; and (iii) changes in rewards can produce unexpected effects, e.g...
