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作者：Berentsen, Aleksander; Huber, Samuel; Marchesiani, Alessandro
作者单位：University of Basel; Federal Reserve System - USA; Federal Reserve Bank - St. Louis; University of Liverpool
摘要：Understanding money demand is important for our comprehension of macroeconomics and monetary policy. Its instability has made this a challenge. Common explications for the instability are financial regulations and financial innovations that shift the money demand function. We provide a complementary view by showing that a model where borrowers have limited commitment can significantly improve the fit between the theoretical money demand function and the data. Limited commitment can also explai...
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作者：de Haan, Thomas; Linde, Jona
作者单位：Norwegian School of Economics (NHH); Maastricht University
摘要：Because people disproportionally follow defaults, both libertarian paternalists and marketers try to present options they want to promote as the default. However, setting certain defaults and thereby influencing current decisions, may also affect choices in later, similar decisions. In this article, we explore experimentally whether the default bias can be reinforced by providing good defaults. We show that people who faced better defaults in the past are more likely to follow defaults than pe...
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作者：Ahlfeldt, Gabriel M.; Holman, Nancy
作者单位：University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; University of London; London School Economics & Political Science
摘要：We propose a method to estimate the capitalised value of the architectural design quality of an area. Our economic design premium is identified by spatially differentiating property prices and design quality within neighbourhoods and comparing the differences across neighbourhoods. We apply our method to 48 conservation area neighbourhoods in England in which we analyse around 7,900 property transactions and interview more than 500 residents. We find a capitalisation effect of about 6.6% (16k)...
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作者：Danzer, Natalia; Lavy, Victor
作者单位：Leibniz Association; Ifo Institut; Leibniz Association; Ifo Institut; IZA Institute Labor Economics; University of Warwick; Hebrew University of Jerusalem; National Bureau of Economic Research
摘要：This article investigates whether schooling outcomes at age 15 are affected by the duration of maternity leave, i.e. the time mothers spend at home with their new-born before returning to work. We exploit an unanticipated reform in Austria which extended the maximum duration of paid and job protected parental leave from 12 to 24months for births as of 1 July, 1990. Using PISA data from the cohorts 1990 and 1987, we find no significant overall impact of the parental leave extension on standardi...
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作者：Gine, Xavier; Goldberg, Jessica; Silverman, Dan; Yang, Dean
作者单位：The World Bank; University System of Maryland; University of Maryland College Park; Arizona State University; Arizona State University-Tempe; National Bureau of Economic Research; University of Michigan System; University of Michigan
摘要：We implement an artefactual field experiment in rural Malawi to study revisions of prior choices regarding future income receipts. This allows examination of intertemporal choice revision and its determinants. New tests provide evidence of self-control problems for some participants. Revisions of money allocations towards the present are positively associated with refined measures of present-bias from an earlier survey and with the randomly assigned closeness in time to the first possible date...
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作者：Gathmann, Christina; Keller, Nicolas
作者单位：Ruprecht Karls University Heidelberg; Leibniz Association; Ifo Institut; IZA Institute Labor Economics
摘要：Immigrants often have lower employment rates and earnings than natives. Our empirical analysis relies on two reforms generating exogenous variation in the waiting time for citizenship. We find that faster access to citizenship improves the economic situation of immigrant women, especially their labour market attachment with higher employment rates, longer working hours and more stable jobs. Immigrants also invest more in host country-specific skills like language and vocational training. Faste...
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作者：Leeson, Peter T.; Russ, Jacob W.
作者单位：George Mason University
摘要：We argue that the great age of European witch trials reflected non-price competition between the Catholic and Protestant churches for religious market share in confessionally contested parts of Christendom. Analyses of new data covering more than 43,000 people tried for witchcraft across 21 European countries over a period of five-and-a-half centuries and more than 400 early modern European Catholic-Protestant conflicts support our theory. More intense religious-market contestation led to more...
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作者：Feigenbaum, James J.
作者单位：Boston University
摘要：Was intergenerational economic mobility high in the early twentieth century in the US? Comparisons of mobility across time are complicated by the constraints of the data available. I match fathers from the Iowa State Census of 1915 to their sons in the 1940 Federal Census, the first state and federal censuses with data on income and years of education. I can estimate intergenerational mobility between 1915 and 1940 based on earnings, education, occupation, and names. Across all these measures,...
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作者：Dupor, Bill; McCrory, Peter B.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - St. Louis; University of California System; University of California Berkeley
摘要：This article studies the effects of interregional spillovers from the American Recovery and Reinvestment Act of 2009 (the Recovery Act). Using cross-county commuting data, we cluster US counties into local labour markets, each of which we further partition into two subregions. We then compare differential labour market outcomes and Recovery Act spending at the regional and subregional levels. Among pairs of subregions, we find evidence of fiscal policy spillovers. According to our benchmark sp...
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作者：Markussen, Simen; Roed, Knut; Schreiner, Ragnhild C.
摘要：We evaluate the impacts of a compulsory dialogue meeting for long-term sick-listed workers in Norway. The meeting is organised by the local social security administration after around six months of absence; its purpose is to bring together the absentee, the employer and the family physician to discuss whether arrangements can be made to facilitate partial or full work resumption. Our causal analysis is based on random-assignment-like geographical variation in the meeting propensity. We find th...
