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作者：Canova, Fabio; Lopez-Salido, David; Michelacci, Claudio
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：We analyse how unemployment, job-finding and job-separation rates react to neutral and investment-specific technology shocks. Neutral shocks increase unemployment and explain a substantial portion of it volatility; investment-specific shocks expand employment and hours worked and contribute to hours worked volatility. Movements in the job-separation rates are responsible for the impact response of unemployment while job-finding rates for movements along its adjustment path. The evidence warns ...
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作者：Alary, David; Gollier, Christian; Treich, Nicolas
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; INRAE
摘要：In this article, we derive a set of simple conditions such that ambiguity aversion always raises the demand for self-insurance and the insurance coverage, but decreases the demand for self-protection. We also characterise the optimal insurance design under ambiguity aversion and exhibit a case in which the straight deductible contract is optimal as in the expected utility model.
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作者：Mocan, Naci; Altindag, Duha T.
作者单位：Louisiana State University System; Louisiana State University; National Bureau of Economic Research; Louisiana State University System; Louisiana State University; Auburn University System; Auburn University
摘要：Before July 2009, salaries of the Members of the European Parliament (MEPs) were paid by their home country, and there were substantial salary differences between MEPs representing different countries. Starting in July 2009, salaries are pegged to 38.5% of a European Court judge's salary, paid by the European Union. This created an exogenous change in salaries, the magnitude and direction of which varied substantially. Using information on each MEP between 2004 and 2011, we show that an increa...
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作者：Davis, Peter; Fletcher, Amelia
作者单位：University of London; University College London; University of East Anglia
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作者：Imbens, Guido
作者单位：Stanford University; National Bureau of Economic Research
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作者：Arifovic, Jasmina; Bullard, James; Kostyshyna, Olena
作者单位：Simon Fraser University; Federal Reserve System - USA; Federal Reserve Bank - St. Louis; Portland State University
摘要：We analyse the effects of social learning in a monetary policy context. Social learning might be viewed as more descriptive of actual learning behaviour in complex market economies. In our model, Taylor Principle governs uniqueness and expectational stability of rational expectations equilibrium (REE) under homogeneous recursive algorithms. We find that the Taylor Principle is not necessary for convergence to REE minimum state variable (MSV) equilibrium under social learning. Sunspot equilibri...
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作者：Crafts, Nicholas; Williamson, Jeffrey G.
作者单位：University of Warwick
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作者：Fenske, James
作者单位：University of Oxford
摘要：The land abundance view of African history uses sparse population to explain pre-colonial land tenure and slavery. I document the geographical forcing variables that predict land rights, slavery and population density in a cross section of global societies. I discuss whether these correlations support theories of land rights and slavery, including the land abundance view. I show that pre-colonial institutions predict institutional outcomes in Africa in the present, including land transactions,...
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作者：Duso, Tomaso; Gugler, Klaus; Szuecs, Florian
作者单位：Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; Vienna University of Economics & Business
摘要：We evaluate the economic impact of the change in European merger legislation in 2004 and propose a general framework focusing on four different policy dimensions: predictability, decision errors, reversion of anti-competitive rents and deterrence. We find that after the reform, the predictability and the accuracy of decisions have improved. Yet, the policy shift away from prohibitions, which entail both an immediate and a deterrent effect, does not seem to be well grounded.
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作者：Bauer, Thomas K.; Braun, Sebastian; Kvasnicka, Michael
作者单位：Ruhr University Bochum; Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW)
摘要：The flight and expulsion of Germans from Eastern Europe after World War II constitutes one of the largest forced population movements in history. We analyse the economic integration of these migrants and their offspring in West Germany. A quarter century after displacement, first-generation migrants still tend to fare worse economically. Displaced agricultural workers, however, exhibit higher incomes than comparable natives, as displacement caused large-scale transitions out of low-paid agricu...
