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作者：Pinotti, Paolo
作者单位：Bocconi University
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作者：Adsera, Alicia; Pytlikova, Mariola
作者单位：Princeton University; Technical University of Ostrava
摘要：This article examines the importance of language in international migration from multiple angles by studying the role of linguistic proximity, widely spoken languages, linguistic enclaves and language-based immigration policy requirements. To this aim we collect a unique data set on immigration flows and stocks in 30 OECD destinations from all world countries over the period 1980-2010 and construct a set of linguistic proximity measures. Migration rates increase with linguistic proximity and w...
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作者：Pinotti, Paolo
作者单位：Bocconi University
摘要：I examine the post-war economic development of two regions in southern Italy exposed to mafia activity after the 1970s and apply synthetic control methods to estimate their economic performance in the absence of organised crime. The comparison of actual and counterfactual development shows that the presence of mafia lowers GDP per capita by 16%. Evidence from electricity consumption and growth accounting suggests that lower GDP reflects a net loss of economic activity, due to the substitution ...
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作者：Bulow, Jeremy; Klemperer, Paul
作者单位：Stanford University; University of Oxford
摘要：We propose a new form of hybrid capital for banks, Equity Recourse Notes (ERNs), which (i) ameliorate booms and busts by creating counter-cyclical incentives for banks to raise capital, and so encourage bank lending in bad times; (ii) help solve the too-big-to-fail problem; and (iii) reduce the regulatory system's reliance on accounting measures of capital. ERNs avoid the flaws of existing contingent convertible bonds (cocos) - in particular, they convert more credibly. Future required increas...
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作者：Genakos, Christos; Valletti, Tommaso
作者单位：Athens University of Economics & Business; Centre for Economic Policy Research - UK; Imperial College London; University of Rome Tor Vergata
摘要：We re-consider the impact that regulation of call termination on mobile phones has had on mobile customers' bills. Using a large panel covering 27 countries, we find that the waterbed' phenomenon, initially observed until early 2006, becomes insignificant on average over the 10-year period, 2002-11. We argue that this is related to the changing nature of the industry, whereby mobile-to-mobile traffic now plays a much bigger role compared to fixed-to-mobile calls in earlier periods. Over the sa...
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作者：Basu, Kaushik; Stiglitz, Joseph E.
作者单位：The World Bank; Cornell University; Columbia University
摘要：As the euro area crisis drags on, it is evident that a part of the problem lies in the architecture of debt within the euro area. This study argues that at least part of the debt problem could be addressed through limited cooperative action entailing appropriately structured contracts generating cross-country liability for sovereign debt incurred by individual nations within the European Union. Such agreements are currently proscribed by the Treaty of Lisbon. We construct a game-theoretic mode...
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作者：Daniele, Gianmarco; Geys, Benny
作者单位：Vrije Universiteit Brussel
摘要：This article assesses how legal institutions affect the influence of politically active criminal organisations on the human capital of elected politicians using data from over 1,500 Southern Italian municipalities in the period 1985-2011. It exploits municipal government dissolutions imposed by the national government for (presumed) mafia infiltration as a source of exogenous variation in the presence of politically active criminal organisations. The results support theoretical predictions tha...
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作者：Buonanno, Paolo; Durante, Ruben; Prarolo, Giovanni; Vanin, Paolo
作者单位：University of Bergamo; University of Bologna
摘要：With weak law-enforcement institutions, a positive shock to the value of natural resources may increase demand for private protection and opportunities for rent appropriation through extortion, favouring the emergence of mafia-type organisations. We test this hypothesis by investigating the emergence of the mafia in twentieth century Sicily, where a severe lack of state property-rights enforcement coincided with a steep rise in international demand for sulphur, Sicily's most valuable export co...
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作者：Armstrong, Mark
作者单位：University of Oxford; University of Oxford
摘要：Many scholarly journals charge high prices to libraries, exclude the wider public altogether, and generate excessive profits. Open access regulation can mitigate these problems when authors are required to publish in journals which offer free and immediate access by readers, or make freely available a substitute to the published article. The former policy is likely to lead to publication fees, making authors less inclined to publish and less willing to publish in selective journals. The latter...
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作者：Boeri, Tito; De Philippis, Marta; Patacchini, Eleonora; Pellizzari, Michele
作者单位：Bocconi University; IZA Institute Labor Economics; Cornell University; IZA Institute Labor Economics; University of Geneva
摘要：We use a new data set on Italy and a novel identification strategy to analyse the relationship between migrants' employment status and the percentage of non-Italians living nearby. Our data contain information at the very local level and are representative of both legal and illegal migrants. Identification exploits the physical characteristics of local buildings as a source of exogenous variation in the incidence of migrants. We find that migrants residing in more immigrant-dense areas are les...
