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作者：Cappellari, Lorenzo; Dell'Aringa, Carlo; Leonardi, Marco
作者单位：Catholic University of the Sacred Heart; University of Milan
摘要：We investigate the effects of two reforms of temporary employment using panel data on Italian firms. We exploit variation in their implementation across regions and sectors for identification. Our results show that the reform of apprenticeship contracts increased job turnover and induced the substitution of external staff with firms apprentices, with an overall productivity-enhancing effect. The reform of fixed-term contracts instead did not produce the intended results: it induced a substitut...
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作者：Efferson, Charles; Sugden, Robert
作者单位：University of Zurich; University of East Anglia
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作者：Clemens, Michael A.; Radelet, Steven; Bhavnani, Rikhil R.; Bazzi, Samuel
作者单位：United States Agency for International Development (USAID); University of Wisconsin System; University of Wisconsin Madison; University of California System; University of California San Diego
摘要：Recent research yields widely divergent estimates of the cross-country relationship between foreign aid receipts and economic growth. We re-analyse data from the three most influential published aidgrowth studies, strictly conserving their regression specifications, with sensible assumptions about the timing of aid effects and without questionable instruments. All three research designs show that increases in aid have been followed on average by increases in investment and growth. The most pla...
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作者：De Mel, Suresh; McKenzie, David; Woodruff, Christopher
作者单位：University of Warwick; University of Peradeniya; The World Bank
摘要：Using unique, panel data and a randomised experiment, we assess the effects of relief aid and access to capital on the recovery of Sri Lankan microenterprises following the December 2004 tsunami. Our results show that a lack of access to capital inhibits the recovery process; firms receiving randomly allocated grants recover profit levels almost 2 years before other damaged firms. Access to capital is particularly important for the retail sector; the role of capital in recovery for manufacturi...
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作者：Denicolo, Vincenzo; Zanchettin, Piercarlo
作者单位：University of Leicester; University of Bologna
摘要：We study a quality-ladder model of endogenous growth that produces stochastic leadership cycles. Over a cycle, industry leaders can innovate several successive times in the same sector before being replaced by a new entrant. Initially, new leaders do much of the research but they then tend to rest on their laurels and are eventually overtaken. The model generates a skewed firm size distribution and a deviation from Gibrat's law that accord with the empirical evidence. We also find conditions u...
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作者：Donado, Alejandro; Waelde, Klaus
作者单位：University of Wurzburg; Johannes Gutenberg University of Mainz; Universite Catholique Louvain
摘要：Historically, worker movements have played a crucial role in making workplaces safer. Firms traditionally oppose better health standards. According to our interpretation, workplace safety is costly for firms but increases the average health of workers and thereby the aggregate labour supply. A laissez faire approach in which firms set safety standards is suboptimal as workers are not fully informed of health risks associated with jobs. Safety standards set by better informed trade unions are o...
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作者：Christensen, Jens H. E.; Rudebusch, Glenn D.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - San Francisco
摘要：We analyse declines in government bond yields following announcements by the Federal Reserve and the Bank of England of plans to buy longer term debt. Using dynamic term structure models, we decompose US and UK yields into expectations about future short-term interest rates and term premiums. We find that declines in US yields mainly reflected lower expectations of future short-term interest rates, while declines in UK yields appeared to reflect reduced term premiums. Thus, the relative import...
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作者：Chen, Han; Curdia, Vasco; Ferrero, Andrea
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; University of Pennsylvania
摘要：We simulate the Federal Reserve second Large-Scale Asset Purchase programme in a DSGE model with bond market segmentation estimated on US data. GDP growth increases by less than a third of a percentage point and inflation barely changes relative to the absence of intervention. The key reasons behind our findings are small estimates for both the elasticity of the risk premium to the quantity of long-term debt and the degree of financial market segmentation. Without the commitment to keep the no...
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作者：Gathergood, John
作者单位：University of Nottingham
摘要：Individuals exhibiting problems repaying their debt obligations also exhibit much worse psychological health. Selection into problem debt on the basis of poor psychological health accounts for much of this difference. The causality between problem debt and psychological health may be two way. Using individual level UK panel data, local house price movements exogenous to individual households are used to establish the causality from problem mortgage debt to psychological health. In addition, th...
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作者：De Grip, Andries; Sauermann, Jan
作者单位：Maastricht University; Maastricht University Medical Centre (MUMC); IZA Institute Labor Economics
摘要：This article identifies the effects of work-related training on worker productivity by exploiting a field experiment that randomly assigns workers to treatment and control groups combined with data on worker performance before and after training. We find that participation in the training programme leads to a 10% increase in performance. Moreover, we provide experimental evidence for externalities from training: An increase of 10 percentage points in the share of treated peers improves a worke...
