-
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...
-
作者：Bond, Eric W.; Saggi, Kamal
作者单位：Vanderbilt University
摘要：In a stylised model involving a developing country (called South) and a foreign patent holder, we analyse whether and how the incidence and social value of compulsory licensing (CL) depends upon the South's patent protection policy. If South is free to deny patent protection, CL fails to arise in equilibrium and the option to use it makes both parties worse off. If South is obliged to offer patent protection, CL can occur and even yield a Pareto improvement. The ability to control price increa...
-
作者：Charnoz, Pauline; Lelarge, Claire; Trevien, Corentin
作者单位：Institut Polytechnique de Paris; ENSAE Paris; Universite Paris Saclay; European Central Bank; Bank of France; Institut Polytechnique de Paris; ENSAE Paris; Institut Polytechnique de Paris; ENSAE Paris
摘要：We take advantage of the expansion of the French High-speed Rail to study the impact of decreases in communication costs in the form of lower travel times between headquarters and affiliated plants of corporate groups. We show that such shocks foster the functional specialisation of remote affiliates on their production activities. Support activities shrink because of the transfer of high-skilled managers to headquarters. These organisational rationalisations have a significant but small impac...
-
作者：Campos, Raquel; Leon, Fernanda; McQuillin, Ben
作者单位：University of Kent; University of East Anglia
摘要：By exploiting the cancellation of the 2012 American Political Science Association Annual Meeting, we investigate the role of conferences in facilitating academic collaboration. We assembled data sets comprising 17,467 academics, and in difference-in-differences analysis we find that the conference cancellation led to a decrease in individuals' likelihood of co-authoring an article with another attendant by 16%. Moreover, collaborations formed among attendants of (occurring) conferences are ass...
-
作者：Noton, Carlos; Elberg, Andres
作者单位：Universidad de Chile; University Diego Portales
摘要：Conventional wisdom is that big-box retailers squeeze the profits of small suppliers. Underlying this belief is the assumption that relative market size is the primary source of bargaining leverage. Using actual wholesale prices, we study profit-sharing between large retailers and suppliers of different size. We find that the median supplier earns 42% of the channel surplus, and that some very small suppliers attain a share of the channel surplus close to that of the largest supplier (about 68...
-
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...
-
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...
-
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...
-
作者：Stock, James H.; Watson, Mark W.
作者单位：Harvard University; National Bureau of Economic Research; Princeton University
摘要：External sources of as-if randomness - that is, external instruments - can be used to identify the dynamic causal effects of macroeconomic shocks. One method is a one-step instrumental variables regression (local projections - IV); a more efficient two-step method involves a vector autoregression. We show that, under a restrictive instrument validity condition, the one-step method is valid even if the vector autoregression is not invertible, so comparing the two estimates provides a test of in...
-
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...
