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作者：Lin, Shengle; Pfeiffer, Glenn; Porter, David
作者单位：California State University System; San Francisco State University; Chapman University System; Chapman University
摘要：We examine the effects of three alternative accounting methods in an experimental asset market characterised by bubbles and crashes: fair value (M2M), historical cost (HC) and marked to fundamental value (M2F). Each treatment is replicated under both no-leverage and leverage conditions. In the no-leverage condition, we find that accounting methods do not have a significant effect on asset mispricing. In the leverage condition, both M2M and M2F accounting methods exacerbate asset mispricing. Ye...
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作者：Maniadis, Zacharias; Tufano, Fabio; List, John A.
作者单位：University of Southampton; University of Nottingham; University of Chicago
摘要：The sciences are in an era of an alleged 'credibility crisis'. In this study, we discuss the reproducibility of empirical results, focusing on economics research. By combining theory and empirical evidence, we discuss the import of replication studies and whether they improve our confidence in novel findings. The theory sheds light on the importance of replications, even when replications are subject to bias. We then present a pilot meta-study of replication in experimental economics, a subfie...
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作者：Bignon, Vincent; Caroli, Eve; Galbiati, Roberto
作者单位：European Central Bank; Bank of France; Universite PSL; Universite Paris-Dauphine; Centre National de la Recherche Scientifique (CNRS); Institut de Recherche pour le Developpement (IRD); Laboratoire dEconomie de Dauphine LEDa; Paris School of Economics; Centre National de la Recherche Scientifique (CNRS); Institut d'Etudes Politiques Paris (Sciences Po)
摘要：Using local administrative data from 1826 to 1936, we document the evolution of crime rates in nineteenth century France and we estimate the impact of a negative income shock on crime. Our identification strategy exploits the phylloxera crisis. Between 1863 and 1890, phylloxera destroyed about 40% of French vineyards. We use the geographical variation in the timing of this shock to identify its impact on property and violent crime rates, as well as minor offences. Our estimates suggest that th...
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作者：Maniadis, Zacharias; Tufano, Fabio
作者单位：University of Southampton; University of Nottingham
摘要：To address the increasing concern about research reproducibility, cross-fertilisation across economics and other disciplines is likely to have far-reaching benefits. Our brief summary focuses on two areas in which a mutual investment in investigating possible cross-disciplinary synergies could benefit the scientific endeavour as a whole. First, the discipline of economic design has much to contribute to the discussion of possible reforms in science. Second, the empirical methodology of meta-re...
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作者：Ben Zeev, Nadav; Pappa, Evi
作者单位：Ben-Gurion University of the Negev; European University Institute
摘要：We identify news shocks to US defence spending as the shocks that best explain future movements in defence spending over a five-year horizon and are orthogonal to current defence spending. Our identified shocks, though correlated with the Ramey (2011) news shocks, explain a larger share of macroeconomic fluctuations and produce significant demand effects. News about increases in defence spending induces significant and persistent increases in output, hours worked, inflation and the interest ra...
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作者：Basten, Christoph; von Ehrlich, Maximilian; Lassmann, Andrea
作者单位：University of Bern; Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：We provide novel evidence on the role of income taxes for housing rents and spatial sorting. Drawing on comprehensive micro-level data, we estimate the responsiveness of households to tax differentials across municipal boundaries. Correcting for unobservable location characteristics and isolating the residential sorting component, we identify an income tax elasticity of rents of about -0.27 to -0.35. In line with non-homothetic preferences, we find that the marginal willingness to pay for lowe...
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作者：Boone, Jan; Schottmuller, Christoph
作者单位：Tilburg University; Tilburg University; Center for Economic & Policy Research (CEPR); University of Copenhagen
摘要：Standard insurance models predict that people with high risks have high insurance coverage. It is empirically documented that people with high income have lower health risks and are better insured. We show that income differences between risk types lead to a violation of single crossing in an insurance model where people choose treatment intensity. We analyse different market structures and show the following: if insurers have market power, the violation of single crossing caused by income dif...
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作者：Perry, Motty; Reny, Philip J.; Robson, Arthur J.
作者单位：University of Warwick; University of Chicago; Simon Fraser University
摘要：Understanding the purpose of sex is a fundamental unresolved problem in evolutionary biology. The difficulty is not that there are too few theories of sex, the difficulty is that there are too many and none stand out. To distinguish between theories, we ask: Why are there no triparental species with offspring composed of the genetic material of three individuals? A successful theory should confer an advantage to biparental sex over asexual reproduction without conferring an even greater advant...
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作者：Bonhomme, Stephane; Hospido, Laura
作者单位：Banco de Espana; University of Chicago; IZA Institute Labor Economics
摘要：We use detailed information from social security records to document the evolution of male earnings inequality and employment in Spain from 1988 to 2010. We find that inequality was strongly countercyclical: it increased around the 1993 recession, experienced a substantial decrease during the 1997-2007 expansion and then a sharp increase during the recent recession. This evolution went in parallel with the cyclicality of employment in the lower middle part of the wage distribution. Our finding...
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作者：de Haan, Thomas; Offerman, Theo; Sloof, Randolph
作者单位：Norwegian School of Economics (NHH); University of Amsterdam
摘要：In an experiment we identify a crucial factor that determines whether employers engage in statistical discrimination of ex ante equal groups. In the standard no-competition setup of Coate and Loury (1993), we do not find systematic evidence for statistical discrimination. When we introduce competition between workers of different groups for the same job, the non-discrimination equilibrium ceases to be stable. In line with this theoretical observation, we find systematic discrimination in the e...
