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作者：Guimaraes, Bernardo; Machado, Caio
作者单位：Getulio Vargas Foundation; Pontificia Universidad Catolica de Chile
摘要：This article studies stimulus policies in a simple macroeconomic model featuring a dynamic coordination problem that arises from demand externalities and fixed costs of investment. In times of low economic activity, firms face low demand and hence have lower incentives for investing, which reinforces their low-demand expectations. In a benchmark case with no shocks, the economy might get trapped in a low-output regime and a social planner would be particularly keen to incentivise investment at...
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作者：Harris, Matthew C.; Kohn, Jennifer L.
作者单位：University of Tennessee System; University of Tennessee Knoxville; Drew University
摘要：We propose that health in prior periods, termed reference health, is theoretically and empirically relevant to the demand for medical care. To address non-normality in the distributions of medical care spending, consumption, and health, we use a conditional density estimator nested in a finite mixture framework. We find that reference health can help explain the variation in spending among individuals with the same contemporaneous health, particularly in the top tail of the spending distributi...
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作者：Sin, Isabelle
作者单位：Victoria University Wellington
摘要：I use newly digitised data on a million book translations for 1949-2000 to study the factors that affect the international diffusion of ideas carried by books. I estimate a gravity model and find translation flows decrease significantly with distance, although distance matters less in later years when the world is more highly globalised. Countries translate more from others that are culturally similar, but this explains none of translations' correlation with physical distance. Translations dec...
