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作者：Davies, James B.; Sandstroem, Susanna; Shorrocks, Anthony; Wolff, Edward N.
作者单位：Western University (University of Western Ontario)
摘要：The level of average household wealth in all countries is estimated via the determinants of assets and debts for 39 countries which have balance sheet or survey data. The distribution of wealth in all countries is inferred from information on the pattern of wealth ownership for 20 countries (covering 59% of world population). Combining the level and distribution figures suggests that median global wealth was PPP$8,635 in the year 2000, and that PPP$518,361 was needed to belong to the top perce...
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作者：Schivardi, Fabiano; Viviano, Eliana
作者单位：University of Cagliari
摘要：The 1998 reform of the Italian retail trade sector delegated the regulation of entry of large stores to the regional governments. We use the local variation in regulation to determine the effects of entry barriers on sectoral performance. We address the endogeneity of entry barriers through local fixed effects and using political variables as instruments. We also control for differences in trends and for area-wide shocks. We find that entry barriers are associated with substantially larger pro...
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作者：Cabrales, Antonio; Hauk, Esther
作者单位：Universidad Carlos III de Madrid
摘要：We propose a theoretical model to explain empirical regularities related to the curse of natural resources, which emphasises the behaviour and incentives of politicians. We extend the standard voting model to give voters political control beyond the elections. This gives rise to a new restriction that policies should not give rise to a revolution. Our model clarifies when resource discoveries might lead to revolutions, namely, in countries with weak institutions. It also suggests that for bad ...
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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：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：Liski, Matti; Montero, Juan-Pablo
作者单位：Aalto University; Pontificia Universidad Catolica de Chile
摘要：Motivated by the structure of existing pollution permit markets, we study the equilibrium path that results from allocating an initial stock of storable permits to an agent, or a group of agents, in a position to exercise market power. A large seller of permits exercises market power no differently than a large supplier of an exhaustible resource. However, whenever the large agent's endowment falls short of his efficient endowment - allocation profile that would exactly cover his emissions alo...
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作者：Milanovic, Branko; Lindert, Peter H.; Williamson, Jeffrey G.
作者单位：The World Bank
摘要：Is inequality largely the result of the Industrial Revolution? Or, were pre-industrial incomes as unequal as they are today? This article infers inequality across individuals within each of the 28 pre-industrial societies, for which data were available, using what are known as social tables. It applies two new concepts: the inequality possibility frontier and the inequality extraction ratio. They compare the observed income inequality to the maximum feasible inequality that, at a given level o...
