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作者：Czernich, Nina; Falck, Oliver; Kretschmer, Tobias; Woessmann, Ludger
作者单位：Leibniz Association; Ifo Institut; University of Munich; University of Munich; Leibniz Association; Ifo Institut; IZA Institute Labor Economics
摘要：We estimate the effect of broadband infrastructure, which enables high-speed internet, on economic growth in the panel of OECD countries in 1996-2007. Our instrumental variable model derives its non-linear first stage from a logistic diffusion model where pre-existing voice telephony and cable TV networks predict maximum broadband penetration. We find that a 10 percentage point increase in broadband penetration raised annual per capita growth by 0.9-1.5 percentage points. Results are robust to...
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作者：Ahituv, Avner; Zeira, Joseph
作者单位：Hebrew University of Jerusalem
摘要：This article examines the effect of sector technical change on early retirement and identifies two opposing effects. One is caused by the need to learn the new technologies. As older workers have shorter career horizons, they gain less from such learning and retire earlier. This is the erosion effect. The second effect is opposite. Since technologies are positively correlated across sectors and since aggregate technical change raises aggregate wages, sector technical change is negatively relat...
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作者：Michaels, Guy
作者单位：University of London; London School Economics & Political Science
摘要：Using geological variation in oil abundance in the Southern US, I examine the long term effects of resource-based specialisation through economic channels. In 1890 oil abundant counties were similar to other nearby counties but after oil was discovered they began to specialise in its production. From 1940-90 oil abundance increased local employment per square kilometre especially in mining but also in manufacturing. Oil abundant counties had higher population growth, higher per capita income a...
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作者：Vines, David
作者单位：University of Oxford; University of Oxford; Australian National University
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作者：Salm, Martin
作者单位：Tilburg University
摘要：This study uses changes in pension laws for Union Army veterans as a natural experiment to estimate the causal effect of pensions on longevity, and to examine potential pathways underlying such a relationship. I examine the effects of the pension laws of 1907 and 1912, which granted old-age pensions to Union Army veterans. Veteran pensions reduced age-adjusted mortality by 11.5% for law of 1907 pensions and by 29.6% for law of 1912 pensions. Pensions reduced mortality for both acute and non-ac...
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作者：van der Ploeg, Frederick; Venables, Anthony J.
作者单位：University of Oxford
摘要：A windfall of natural resources (or aid) faces government with choices of how to manage public debt, investment and the distribution of funds for consumption. The permanent income hypothesis suggests a sustained increase in consumption supported, once resources are depleted, by interest on accumulated foreign assets. However, this strategy is not optimal for capital-scarce developing economies. Incremental consumption should be skewed towards present generations. Savings should be directed to ...
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作者：Challe, Edouard; Ragot, Xavier
作者单位：Institut Polytechnique de Paris; Ecole Polytechnique
摘要：We analyse the effects of fiscal expansions when public debt is used as liquidity by the private sector. Aggregate shocks are introduced into an incomplete-market economy where heterogenous agents face occasionally binding borrowing constraints and store wealth to smooth out idiosyncratic income fluctuations. Debt-financed increases in spending facilitate self-insurance by bond holders and may crowd in private consumption. They also loosen the borrowing constraints faced by firms, thereby rais...
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作者：Duranton, Gilles; Gobillon, Laurent; Overman, Henry G.
作者单位：University of London; London School Economics & Political Science; University of Toronto
摘要：We study the impact of local taxation on the location and growth of firms. Our empirical methodology pairs establishments across jurisdictional boundaries to estimate the impact of taxation. Our approach improves on existing work as it corrects for unobserved establishment heterogeneity, for unobserved time-varying site-specific effects and for the endogeneity of local taxation. Applied to data for English manufacturing establishments, we find that local taxation has a negative impact on emplo...
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作者：Cook, Philip J.; MacDonald, John
作者单位：Duke University; University of Pennsylvania
摘要：Private actions to avoid and prevent criminal victimisation and assist public law enforcement are vital inputs into the crime-control process. One form of private action, the business improvement district (BID), appears particularly promising. A BID is a non-profit organisation created by property owners to provide local public goods, usually including public safety. Our analysis of 30 Los Angeles BIDs demonstrates that the social benefits of BID expenditures on security are a large multiple (...
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作者：Fabra, Natalia; von der Fehr, Nils-Henrik M.; de Frutos, Maria-Angeles
作者单位：Universidad Carlos III de Madrid; University of Oslo
摘要：The purpose of this study was to understand how market design affects market performance through its impact on investment incentives. For this purpose, we model capacity choices by two ex ante identical firms which compete in the product market. We analyse a number of different market design elements, including (i) two commonly used auction formats, the uniform-price and discriminatory auctions, (ii) price caps and (iii) bid duration. We find that although the discriminatory auction tends to l...
