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作者：Colciago, Andrea
作者单位：European Central Bank; De Nederlandsche Bank NV; University of Milano-Bicocca
摘要：This article provides optimal labour and dividend income taxation in a general equilibrium model with oligopolistic competition and endogenous firms' entry. In the long run, the optimal dividend income tax corrects for inefficient entry. The dividend income tax depends on the form of competition and the nature of the sunk entry costs. In particular, it is higher in market structures characterised by competition in quantities rather than those characterised by price competition. Oligopolistic c...
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作者：Bonhomme, Stephane; Jolivet, Gregory; Leuven, Edwin
作者单位：University of Chicago; University of Bristol; University of Oslo; Centre for Economic Policy Research - UK; Leibniz Association; Ifo Institut; Statistics Norway
摘要：Job characteristics can affect worker turnover through their effect on utility and through their effect on outside job opportunities. The aim of this study is to identify and estimate the roles of these two channels separately. Our method exploits information on job changes, and relies on an augmented sample selection correction. To illustrate our approach, we use an exhaustive register of Dutch primary school teachers and show a detailed picture of preferences for school characteristics. We a...
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作者：Chaney, Eric; Hornbeck, Richard
作者单位：Harvard University; University of Chicago
摘要：We investigate economic dynamics in the Malthusian era using the 1609 expulsion of Moriscos from Spain. Sharp population declines in former-Morisco districts were accompanied by decreased output and increased per capita output. While these short-run results are consistent with standard Malthusian predictions, Malthusian convergence was delayed up to 1786 in former-Morisco districts. Archival sources and historical accounts suggest extractive institutions and cultural differences may have contr...
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作者：Ettinger, David; Michelucci, Fabio
作者单位：Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Charles University Prague; Universite PSL; Universite Paris-Dauphine; Centre National de la Recherche Scientifique (CNRS); Institut de Recherche pour le Developpement (IRD); Laboratoire dEconomie de Dauphine LEDa; Universite de Montreal
摘要：We analyse a rationale for hiding information in open ascending auction formats. We focus on the incentives for a bidder to call a price higher than the highest standing one in order to prevent the remaining active bidders from aggregating more accurate information by observing the exact dropout values of the opponents who exit the auction. We show that the decision whether to allow jump bids or not can have a drastic impact on revenue and efficiency.
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作者：Gill, David; Thanassoulis, John
作者单位：University of Oxford; University of Warwick; University of Oxford; University of Oxford
摘要：We study price competition between firms over public list or posted prices when a fraction of consumers can subsequently receive discounts with some probability. Such stochastic discounts are a feature of markets in which some consumers bargain explicitly and of markets in which sellers use the marketing practice of couponing. Even though bargainers receive reductions off the posted prices, the potential to discount dampens competitive pressure in the market, thus raising all prices and increa...
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作者：Barro, Robert J.; Misra, Sanjay
作者单位：Harvard University
摘要：From 1836 to 2011, gold's average annual real rate of price change is 1.1%, with a standard deviation of 13.1% and a negligible covariance with consumption growth. Because gold does not serve as a hedge against macroeconomic declines, its expected real rate of return should be close to the risk-free rate of around 1%. These properties fit an asset-pricing model with rare disasters and a high elasticity of substitution between gold services and ordinary consumption. In this scenario, gold's exp...
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作者：Sayinzoga, Aussi; Bulte, Erwin H.; Lensink, Robert
作者单位：University of Rwanda; Wageningen University & Research; University of Groningen
摘要：We organise a field experiment with smallholder farmers in Rwanda to measure the impact of financial literacy training on financial knowledge and behaviour. The training increased financial literacy of participants, changed their savings and borrowing behaviour and had a positive effect on the new business start-up. However, it failed to have a significant (short-term) impact on income. Using a two-stage regression framework, we identify enhanced financial literacy as one of the important fact...
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作者：Weeds, Helen
作者单位：University of Essex
摘要：The article examines incentives for exclusive distribution of premium television programming. Static analysis shows that a vertically integrated operator with premium programming always supplies this content to the rival distributor, using per-subscriber fees to soften competition. In a dynamic setting with switching costs exclusivity confers a market share advantage, benefiting the operator in the future. Under certain conditions this future benefit outweighs the opportunity cost of forgone w...
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作者：Feld, Jan; Salamanca, Nicolas; Hamermesh, Daniel S.
作者单位：University of Gothenburg; University of Melbourne; University of Queensland; ARC Centre of Excellence for Children & Families Over the Life Course; University of London; Royal Holloway University London; National Bureau of Economic Research
摘要：The discrimination literature treats outcomes as relative. But does a differential arise because agents discriminate against others - exophobia - or because they favour their own kind - endophilia? Using a field experiment that assigned graders randomly to students' examinations that did/did not contain names, we find favouritism but no discrimination by nationality nor by gender. We are able to identify these preferences under a wide range of behavioural scenarios regarding the graders. That ...
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作者：Burdin, Gabriel
作者单位：Universidad de la Republica, Uruguay; University of Siena
摘要：Does workplace democracy engender greater pay equality? Are high-ability individuals more likely to quit egalitarian organisational regimes? The article revisits this long-standing issue by analysing the interplay between compensation structure and quit behaviour in the distinct yet underexplored institutional setting of worker-managed firms. The analysis is based on novel administrative data sources, which allow constructing a simple ordinal measure of the workers' ability type. The article's...
