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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：Gierlinger, Johannes; Laczo, Sarolta
作者单位：Autonomous University of Barcelona; Barcelona School of Economics; University of Surrey; Consejo Superior de Investigaciones Cientificas (CSIC); CSIC - Institut d'Analisi Economica (IAE); Center for Economic & Policy Research (CEPR)
摘要：This article studies the effect of limited commitment on sorting when two sides of a frictionless market form pairs to share risk. On each side, agents are identical except for their risk preferences. First, we provide analytical results when transfers do not condition on the history of shocks. More risk-averse agents can commit to larger transfers, as long as their consumption is less risky than their endowment. With sufficiently large idiosyncratic risk and sufficient discounting of the futu...
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作者：Kleemans, Marieke; Magruder, Jeremy
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; University of California System; University of California Berkeley
摘要：We study the labour market impact of internal migration in Indonesia by instrumenting migrant flows with rainfall shocks at the origin area. Estimates reveal that a one percentage point increase in the share of migrants decreases income by 0.97% and reduces employment by 0.24 percentage points. These effects are different across sectors: employment reductions are concentrated in the formal sector, while income reduction occurs in the informal sector. Negative consequences are most pronounced f...
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作者：Sandberg, Anna
作者单位：Stockholm University
摘要：I use data from the Olympic sport of dressage to explore in-group biases among judges. Dressage - the only international sport with subjective performance evaluations in which men and womencompete as equals - provides a rare opportunity to identify multiple in-group biases in the same naturally occurring setting. While, on average, judges are not biased in favour of either gender, they exhibit substantial biases in favour of (i) athletes of their own nationality, and (ii) athletes of the same ...
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作者：Falk, Armin; Zimmermann, Florian
作者单位：University of Bonn; University of Zurich
摘要：Beliefs are often found to be sticky and rather immune to new information. In this article, we highlight a specific mechanism that raises resistance to incorporate new information. We provide causal evidence that commitment to a first opinion leads to a neglect of new and challenging information. Being asked to write down an initial estimate before additional information is obtained significantly and substantially reduces the accuracy of final beliefs. Investigating the sources of this effect,...
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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：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：Molinari, Benedetto; Turino, Francesco
作者单位：Universidad de Malaga; Universitat d'Alacant
摘要：Aggregate data reveal that in the US, advertising absorbs 2% of GDP. Because the purpose of brand advertising is to foster sales, we ask whether such spending appreciably affects aggregate consumption and economic activity. This question is addressed by developing and estimating a dynamic general equilibrium model in which households' preferences for differentiated goods depend on brand advertising. Estimated results for the US economy indicate that in the long-run, the presence of advertising...
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作者：Acconcia, Antonio; Cantabene, Claudia
作者单位：Universita della Campania Vanvitelli; University of Naples Federico II
摘要：A stimulus programme allowed firms in Italy to receive tax credits for R&D expenditure in 2009. Among traditional firms, liquidity is relevant to the response to the stimulus: recipients firms with relative large cash holdings raised R&D expenditure, while those with low liquidity did not vary it. High-tech firms did not change their total R&D, consistent with their tendency to smooth R&D expenditure through time, though they changed its composition in favour of outsourcing activity and to the...
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作者：Bauer, Michal; Fiala, Nathan; Levely, Ian
作者单位：Charles University Prague; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Charles University Prague; University of Connecticut; Wageningen University & Research
摘要：The stability of many post-conflict societies rests on the successful reintegration of former soldiers. We use a set of behavioural experiments to study the effects of forced military service for a rebel group (the Lord's Resistance Army) on trust and trustworthiness in Northern Uganda. We present evidence that soldiers did not self-select nor were systematically screened by rebels. We find that the experience of soldiering increases individual trustworthiness and community engagement, especia...
