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作者：Geerling, Wayne; Magee, Gary; Mishra, Vinod; Smyth, Russell
作者单位：University of Arizona; Monash University; University of Johannesburg
摘要：We examine the role of judicial policy preferences in influencing whether judges in Nazi Germany sentenced defendants charged with serious political offences to death. We find that judicial policy preferences, measured by the depth of the ideological commitment of the judge to the Nazi Party worldview, were an important determinant of whether judges imposed the death sentence. Judges more committed to the Nazi Party were more likely to impose the death sentence on defendants belonging to organ...
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作者：Bracke, Philippe; Pinchbeck, Edward W.; Wyatt, James
作者单位：Bank of England; University of London; London School Economics & Political Science
摘要：Most London housing transactions involve trading long leases of varying lengths. We exploit this to estimate the time value of housing - the relationship between the price of a property and the term of ownership - over a 100 years and derive implied discount rates. For our empirical analysis, we compile a unique historical data set (1987-92) to abstract from the right to extend leases currently enjoyed by tenants. Across a variety of specifications and samples, we find that leasehold prices ar...
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作者：Li, Huailu; Lang, Kevin; Leong, Kaiwen
作者单位：Fudan University; Boston University; National Bureau of Economic Research; Nanyang Technological University
摘要：The street sex worker market in Geylang, Singapore is a highly competitive market in which clients can search legally at negligible cost, making it ideal for testing Diamond's hypothesis regarding search and monopoly pricing. As Diamond predicts, price discrimination survives in this market. Despite an excess supply of workers, but consistent with their self-reported attitudes and beliefs, sex workers charge whites (Bangladeshis) more (less), based on perceived willingness to pay, and are more...
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作者：de Quidt, Jonathan; Fetzer, Thiemo; Ghatak, Maitreesh
作者单位：University of Warwick; University of London; London School Economics & Political Science
摘要：Motivated by recent controversies surrounding the role of commercial lenders in microfinance, and calls for regulation of the sector, we analyse borrower welfare under different market structures, considering a benevolent non-profit lender, a for-profit monopolist and a competitive credit market. To understand the magnitude of the effects analysed, we simulate the model with parameters estimated from the MIX Market database. Our results suggest that market power can have severe implications fo...
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作者：Calzolari, Giacomo; Ichino, Andrea; Manaresi, Francesco; Nellas, Viki
作者单位：University of Bologna; Center for Economic & Policy Research (CEPR); IZA Institute Labor Economics; Leibniz Association; Ifo Institut; European Central Bank; Bank of Italy
摘要：We measure precisely how competition limits the capacity of sellers to appropriate surplus from less elastic consumers. The evidence originates from pricing strategies of Italian pharmacists in response to exogenous inflows of parents of newborn babies among their buyers. Population-based laws allow us to use a regression discontinuity design to compare different competitive environments. While more newborn babies have no effect on the price of hygiene products under intense competition, we ob...
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作者：Kerr, Sari Pekkala; Kerr, William R.
作者单位：Harvard University; Wellesley College; National Bureau of Economic Research
摘要：We study the prevalence and traits of global collaborative patents for US public companies, where the inventor team is located both within and outside of the US. Collaborative patents are frequently observed when a corporation is entering into a new foreign region for innovative work, especially in settings where intellectual property protection is weak. We also connect collaborative patents to the ethnic composition of the firm's US inventors and cross-border mobility of inventors within the ...
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作者：Panagopoulos, Andreas; Park, In-Uck
作者单位：University of Crete; University of Bristol; Sungkyunkwan University (SKKU)
摘要：We analyse a sequential innovation model and show that relatively narrow patent rights can facilitate a market in which startups' patents are traded as negotiating assets. In this market, the trade of patents, on top of monopoly profits, conveys an extra surplus from the patents' capacity to affect future tech-transfer negotiations. This surplus, which stems from a patent's potential ability to exclude infringers and the corresponding enforcement spillovers that patents confer, may incentivise...
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作者：Bonfatti, Roberto; O'Rourke, Kevin Hjortshoj
作者单位：University of Nottingham
摘要：Theories of war predict that the leader may launch a war on a follower who is catching up, since the follower cannot commit to not use their increased power in the future. But it was Japan who attacked the West in 1941: both leaders and followers start wars. Similarly, many have argued that trade makes war less likely, yet the First World War erupted at a time of unprecedented globalisation. We develop a model of trade and war that can explain both observations. Dependence on imports can lead ...
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作者：Che, Yi; Zhang, Lei
作者单位：Shanghai Jiao Tong University
摘要：We exploit a policy-induced exogenous surge in China's college-educated workforce that started in 2003 to identify the impact of human capital on productivity. Using a difference-in-differences estimation strategy, we find that industries using more human-capital intensive technologies experienced a larger gain in total factor productivity after 2003 than they did in prior years. Exploring the pathways from human capital increases to TFP growth, we find that these industries also accelerated n...
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作者：Hu, Audrey; Offerman, Theo; Zou, Liang
作者单位：Tsinghua University; University of Amsterdam; Tinbergen Institute; University of Amsterdam
摘要：English auctions are known to be ex post efficient under various circumstances. However, they are inefficient ex ante for risk-averse seller and bidders. Our analysis of the English premium auction (EPA) reveals that, while maintaining ex post efficiency, awarding a premium to the highest two bidders makes the auction more attractive to all risk-averse bidders. This result is remarkably general, as it holds with possible interdependent bidder valuations and affiliated types. When bidders exhib...
