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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：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...
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作者：Johnston, David W.; Shields, Michael A.; Suziedelyte, Agne
作者单位：Monash University; University of London
摘要：The costs of violent crime victimisation are often left to a tribunal, judge or jury to determine, which can lead to considerable subjectivity and variation. Using panel data, this article provides compensation estimates that help reduce the subjectivity of awards by providing a benchmark for the compensation required to offset direct and intangible costs. Individual-area fixed-effects models of well-being that allow for adaptation and the endogeneity of income suggest that, on average, A$88,0...
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作者：Mariotti, Marco; Veneziani, Roberto
作者单位：University of London; Queen Mary University London
摘要：We model opportunities in society as chances of success', that is as they are commonly described by practitioners. We show that a classical liberal principle of justice together with a limited principle of social rationality imply that the social objective should be to maximise the chance that everybody in society succeeds. Technically, this means using a Nash' welfare criterion. A particular consequence is that the failure of even only one individual must be considered maximally detrimental. ...
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作者：Anderson, D. Mark; Crost, Benjamin; Rees, Daniel I.
作者单位：Montana State University System; Montana State University Bozeman; IZA Institute Labor Economics; University of Illinois System; University of Illinois Urbana-Champaign; University of Colorado System; University of Colorado Denver
摘要：Drawing on county-level data from Kansas for the period 1977-2011, we examine whether plausibly exogenous increases in the number of establishments licensed to sell alcohol by the drink are related to violent crime. During this period, 86 out of 105 counties in Kansas voted to legalise the sale of alcohol to the general public for on-premises consumption. Using legalisation as an instrument, we show that a 10% increase in drinking establishments is associated with a 3-5% increase in violent cr...
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作者：Goeree, Jacob K.; Louis, Philippos; Zhang, Jingjing
作者单位：University of New South Wales Sydney; University of Cologne; University of New South Wales Sydney; University of Technology Sydney
摘要：Previous experiments based on the 11-20 game have produced evidence for the level-k model with observed levels of strategic thinking consistently ranging from 0 to 3. Our baseline treatment uses the 11-20 game and replicates previous results. We apply four models of strategic thinking to the baseline-treatment data and use these to predict behaviour and beliefs in five other treatments that employ games with a very similar structure. The best predictive performance is achieved by models that i...
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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：Bester, Helmut; Dahm, Matthias
作者单位：Free University of Berlin; University of Nottingham
摘要：We study contracting between a consumer and an expert in a credence goods model when: (i) the expert's choice of diagnosis effort is not observable; (ii) the expert might misrepresent his private information about the adequate treatment; and (iii) payments can depend only on the consumer's subjective evaluation of treatment success. We show that the first-best solution can always be implemented if the parties' discount factor is equal to one; a decrease in the discount factor makes obtaining t...
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作者：Plante, Michael; Richter, Alexander W.; Throckmorton, Nathaniel A.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Dallas; Auburn University System; Auburn University; William & Mary
摘要：This article examines the correlation between uncertainty and real GDP growth. We use the volatility of real GDP growth from a VAR, stock market volatility, survey-based forecast dispersion and macro uncertainty index as proxies for uncertainty. In each case, a stronger negative correlation emerged in 2008. We contend the zero lower bound (ZLB) on the federal funds rate contributed to our finding. To test our theory, we estimate a New Keynesian model with a ZLB constraint to generate a data-dr...
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作者：Degryse, Hans; Lambert, Thomas; Schwienbacher, Armin
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; KU Leuven; Center for Economic & Policy Research (CEPR); SKEMA Business School; Universite Cote d'Azur
摘要：Voting rights were initially limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development, as this new electorate has lower financial holdings and benefits less from the riskiness and financial returns from stock markets. Our panel data evidence covering the years 1830-1999 shows that tighter restrictions on the voting franchise induce greater stock market development, whereas a br...
