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作者：Bohacek, Radim; Zubricky, Jozef
作者单位：Charles University Prague; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences
摘要：This article studies a flat tax reform and capital tax reform in an economy with occupational choice and borrowing constraints. Building on previous models with heterogeneous agents and the flat tax reform within the representative firm framework, we introduce entrepreneurs as an occupation. We model endogenous entry and exit of firms whose size, number and production decisions are affected by the tax system. We compare steady state allocations in the benchmark economy with a progressive tax s...
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作者：Andres, Javier; Arce, Oscar
作者单位：University of Valencia
摘要：We develop a macroeconomic model with an imperfectly competitive bank-loans market and collateral constraints that tie investors credit capacity to the value of their real estate holdings. Lending margins are optimally set by banks and have a significant effect on aggregate variables. Over the long run, stronger banking competition increases output by triggering a reallocation of available collateral towards investors. In the short-run, output, credit and housing prices are more responsive on ...
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作者：Crino, Rosario; Epifani, Paolo
作者单位：University of Brescia
摘要：We find a robust negative correlation between Italian firms productivity and their export share to low-income destinations. To account for this surprising fact, we marry Verhoogen (2008) with Eaton (2011), by introducing firm heterogeneity in product quality and country heterogeneity in quality consumption in a framework featuring firm and market-specific shocks in entry costs and demand, and estimate the model's parameters structurally by the simulated method of moments. The estimated prefere...
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作者：Stuen, Eric T.; Mobarak, Ahmed Mushfiq; Maskus, Keith E.
作者单位：Yale University; University of Idaho; University of Colorado System; University of Colorado Boulder
摘要：We study the contribution of doctoral students to innovation at 2,300 American science and engineering departments from 1973 to 1998. Macroeconomic and policy shocks in source countries that differentially affect enrolments across fields and universities isolate exogenous variation in the supply of students. Both US and international students contribute significantly to the production of knowledge at scientific laboratories, and their contributions are statistically comparable, consistent with...
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作者：Bratsberg, Bernt; Raaum, Oddbjorn
摘要：To identify wage impacts of immigration, we use licensing requirements in the Norwegian construction sector that give rise to exogenous variation in immigrant employment across trades. Individual panel data reveal lower wage growth in trades with rising immigrant employment shares, with a 10% increase in immigration predicted to reduce wages by 0.6%. Selective attrition masks the causal wage impact if neglected. For low and semi-skilled workers, wage effects are comparable for natives and olde...
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作者：Levine, Paul; Pearlman, Joseph; Perendia, George; Yang, Bo
作者单位：University of Surrey; Loughborough University; London Metropolitan University
摘要：A framework for estimating Dynamic Stochastic General Equilibrium (DSGE) models by Bayesian methods and validation under very general information assumptions is applied to a New Keynesian model. The standard asssumption that private agents have perfect information observing all state variables including shocks, whereas the econometrician uses only observable data, is compared with both agents having the same imperfect information (II) set. We also generalise rational expectations to a behaviou...
