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作者：Lendle, Andreas; Olarreaga, Marcelo; Schropp, Simon; Vezina, Pierre-Louis
作者单位：University of Birmingham; University of Geneva; University of Birmingham
摘要：We compare the effect of geographic distance on eBay and total international trade flows. We consider the same 61 countries and basket of goods for both types of transactions. We find the effect of distance to be on average 65% smaller on eBay. We argue this difference is due to a reduction in search costs; it increases with product differentiation and is higher when trade partners speak different languages, when corruption in the exporting country is high and when uncertainty avoidance is hig...
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作者：Teles, Pedro; Uhlig, Harald; Valle e Azevedo, Joao
作者单位：Universidade Catolica Portuguesa; University of Chicago; National Bureau of Economic Research; Banco de Portugal; Universidade Nova de Lisboa
摘要：This article investigates whether the quantity theory of money is still alive. We demonstrate three insights. First, for countries with low inflation, the raw relationship between average inflation and the growth rate of money is tenuous at best. Second, the fit markedly improves, when correcting for variation in output growth and the opportunity cost of money, using elasticities implied by the theories of Baumol-Tobin and Miller-Orr. Finally, a subsample characterised by the adoption of infla...
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作者：van den Berg, Gerard J.; Pinger, Pia R.; Schoch, Johannes
作者单位：University of Mannheim; Vrije Universiteit Amsterdam; University of Bonn; IZA Institute Labor Economics
摘要：We estimate average causal effects of early-life hunger on late-life health by applying instrumental variable estimation, using data with self-reported periods of hunger earlier in life, with famines as instruments. The data contain samples from European countries and include birth cohorts exposed to various famines in the twentieth century. We use two-sample IV estimation to deal with imperfect recollection of conditions at very early stages of life. The estimated average causal effects may e...
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作者：Caballero, Julian A.
作者单位：Inter-American Development Bank
摘要：This article asks whether capital inflows bonanzas increase the probability of banking crises and whether this occurs through a lending boom mechanism. Results indicate that bonanzas more than triple the odds of a crisis, raising its probability to 14% (from an unconditional probability of 4%). This effect exists in the absence of a lending boom and is found in both net and gross inflows bonanzas. This effect is driven by portfolio-equity and debt flows. While the effect of debt is channelled ...
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作者：Hilber, Christian A. L.; Vermeulen, Wouter
作者单位：University of London; London School Economics & Political Science; University of London; London School Economics & Political Science; University of London; London School Economics & Political Science; CPB Netherlands Bureau for Economic Policy; Vrije Universiteit Amsterdam
摘要：We test the theoretical prediction that house prices respond more strongly to changes in local earnings in places with tight supply constraints using a unique panel dataset of 353 Local Planning Authorities in England between 1974 and 2008. Exploiting exogenous variation from a policy reform, vote shares and historical density to identify the endogenous constraints-measures, we find that: regulatory constraints have a substantive positive impact on the house price-earnings elasticity; the effe...
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作者：Ghani, Ejaz; Goswami, Arti Grover; Kerr, William R.
作者单位：Harvard University; The World Bank; Harvard University; Bank of Finland; National Bureau of Economic Research
摘要：We investigate the impact of transport infrastructure on the organisation and efficiency of manufacturing activity. The Golden Quadrilateral (GQ) project upgraded a central highway network in India. Manufacturing activity grew disproportionately along the network. These findings hold in straight-line IV frameworks and are not present on a second highway that was planned to be upgraded at the same time as GQ but subsequently delayed. Both entrants and incumbents facilitated the output growth, w...
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作者：Arceo, Eva; Hanna, Rema; Oliva, Paulina
作者单位：Harvard University; Centro de Investigacion y Docencia Economicas A.C. (CIDE); National Bureau of Economic Research; University of California System; University of California Santa Barbara
摘要：Much of what we know about the marginal effect of pollution on infant mortality is derived from developed country data. However, given the lower levels of air pollution in developed countries, these estimates may not be externally valid to the developing country context if there is a non-linear dose relationship between pollution and mortality or if the costs of avoidance behaviour differ considerably between the two contexts. In this article, we estimate the relationship between pollution and...
