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作者：Arrunada, Benito
作者单位：Barcelona School of Economics
摘要：This article develops two hypotheses about economically-relevant values of Christian believers, according to which Protestants should work more and more effectively, as in the 'work ethic' argument of Max Weber, or display a stronger 'social ethic' that would lead them to monitor each other's conduct, support political and legal institutions and hold more homogeneous values. Tests using current survey data confirm substantial partial correlations and possible different 'effects' in mutual soci...
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作者：Knabe, Andreas; Raetzel, Steffen; Schoeb, Ronnie; Weimann, Joachim
作者单位：Free University of Berlin; Otto von Guericke University
摘要：We apply the Day Reconstruction Method to compare unemployed and employed people with respect to their subjective assessment of emotional affects, differences in the composition and duration of activities during the course of a day and their self-reported life satisfaction. Employed persons are more satisfied with their life than the unemployed and report more positive feelings when engaged in similar activities. Weighting these activities with their duration shows, however, that average exper...
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作者：Saint-Paul, Gilles
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：I analyse a model where workers self-select in the educational occupation in a way which is correlated with their beliefs about the working of the market economy. Teachers have a disproportionate effect on the transmission of beliefs. Therefore, they generate a bias which makes it harder for the population to learn the true parameters of the economy if these are favourable to the market economy. Two parameters determine this bias. Social entropy defines how predictable one's occupation is as a...
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作者：Castelnuovo, Efrem; Surico, Paolo
作者单位：University of Padua; Bank of Finland; University of London; London Business School
摘要：This article re-examines the VAR evidence on the price puzzle and proposes a new theoretical interpretation. Using actual data and two identification strategies based on zero restrictions and model-consistent sign restrictions, we find that the positive response of prices to a monetary policy shock is historically limited to the sub-samples that are typically associated with a weak interest rate response to inflation. Using pseudo data generated by a sticky price model of the US economy, we th...
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作者：Poschke, Markus
作者单位：McGill University
摘要：Euro area economies have lower total factor and labour productivity than the US. I argue that differences in entry cost contribute to this by affecting firms' technology choice. Introducing technology choice into a standard heterogeneous-firm model, small differences in administrative entry cost can explain around one third of TFP differences. The productivity difference arises because entry costs reduce competition and the incentive to adopt more advanced technologies. Firm heterogeneity, tec...
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作者：Jackson, C. Kirabo
作者单位：Cornell University
摘要：In Trinidad and Tobago students are assigned to secondary schools after the fifth grade, based on achievement tests, leading to large differences in the school environments to which students of differing initial levels of achievement are exposed. I use instrumental variables based on the discontinuities created by the assignment mechanism and exploit rich data which include students' test scores at entry and secondary school preferences to address self-selection bias. I find that attending a b...
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作者：Ticchi, Davide; Vindigni, Andrea
作者单位：University of Urbino; Princeton University
摘要：We present a theory of the choice of alternative democratic constitutions, a majoritarian or a consensual one, in an unequal society. We show that a consensual system turns out to be preferred by society when ex ante income inequality is relatively low, while a majoritarian system is chosen when income inequality is relatively high. We also find that consensual democracies should be expected to be ruled more often by centre-left coalitions while the right should have an advantage in majoritari...
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作者：Fisher, Jonas D. M.; Peters, Ryan
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：This article explores a new approach to identifying government spending shocks which avoids many of the shortcomings of existing approaches. The new approach is to identify government spending shocks with statistical innovations to the accumulated excess returns of large US military contractors. This strategy is used to estimate the dynamic responses of output, hours, consumption and real wages to a government spending shock. We find that positive government spending shocks are associated with...
