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作者：Yang, Dean
作者单位：University of Michigan System; University of Michigan
摘要：How do households respond to overseas members' economic shocks? Overseas Filipinos in dozens of countries experienced sudden, heterogeneous changes in exchange rates during the 1997 Asian financial crisis. Appreciation of a migrant's currency against the Philippine peso leads to increases in household remittances from overseas. The estimated elasticity of Philippine-peso remittances with respect to the exchange rate is 0.60. Positive migrant shocks lead to enhanced human capital accumulation a...
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作者：Meade, Ellen E.; Stasavage, David
作者单位：American University; New York University
摘要：Transparency in committee decision making may have clear benefits by making members more accountable to outside observers. We consider one potential cost: the possibility that publishing records of deliberations will make members more reluctant to offer dissenting opinions. We construct a model that compares incentives for members with 'career concerns' to voice dissent when deliberations occur in public or in private. We test the model using an original dataset based on deliberations of the F...
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作者：Cornand, Camille; Heinemann, Frank
作者单位：Universites de Strasbourg Etablissements Associes; Universite de Strasbourg; Technical University of Berlin
摘要：Financial markets and macroeconomic environments are often characterised by positive externalities. In these environments, transparency may reduce expected welfare: public announcements serve as focal points for higher-order beliefs and affect agents' behaviour more than justified by their informational contents. Some scholars conclude that reducing public signals' precision or entirely withholding information may improve welfare. This article shows that public information should always be pro...
