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作者：Madsen, Jakob B.; Davis, E. Philip
作者单位：University of Copenhagen; Monash University; Brunel University
摘要：The sharp increase in equity prices over the 1990s was widely attributed to permanently higher productivity growth derived from the New Economy. This article establishes a rational expectations model of technology innovations and equity prices, which shows that under plausible assumptions, productivity advances can only have temporary effects on the fundamentals of equity prices. Using historical data on productivity of R&D capital, patent capital and fixed capital for 11 OECD countries, empir...
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作者：Marceau, Nicolas; Myers, Gordon
作者单位：Universite de Montreal; Simon Fraser University
摘要：We consider a world in which the mode of food production, foraging or agriculture, is endogenous, and in which technology grows exogenously. Within a model of coalition formation, we allow individuals to form co-operative communities (bands) of foragers or farmers rationally. At the lowest levels of technology, equilibrium entails the grand coalition of foragers, a co-operative structure which avoids over-exploitation of the environment. But at a critical state of technology, the co-operative ...
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作者：Rangel, Marcos A.
作者单位：University of Chicago
摘要：Can family policy affect well-being of individuals without altering the resources available to their families? This article examines the extension of alimony rights and obligations to cohabiting couples in Brazil. For women in intact relationships, alimony rights upon dissolution should improve outside options, strengthening their negotiating positions, and increasing their influence over intrahousehold allocation of resources. Robust econometric evidence indicates that more decision power in ...
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作者：Bouckaert, Jan; Degryse, Hans
作者单位：University of Antwerp; Tilburg University; Tilburg University
摘要：In many countries, lenders voluntarily provide information about their borrowers to private credit registries. A recent World Bank survey reveals that the display of a lender's own borrower information is often not reciprocated. That is, access to these registries does not require the prior provision of proprietary data. We argue that incumbent lenders release information about a portion of their profitable borrowers for strategic reasons. The reasoning is that the pool of unreleased borrowers...
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作者：Geerdsen, Lars Pico
摘要：This article focuses on unemployed individuals' reaction to compulsory labour market programmes prior to participation. In Denmark, after having received UI benefits for a given period of time, continued benefits are made conditional on participation in a labour market programme. I estimate individuals' reaction to compulsory programmes using legislative changes in the duration of benefits period as identification. I find that compulsory programmes do indeed motivate individuals to find employ...
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作者：Harms, Philipp; Lutz, Matthias
作者单位：RWTH Aachen University; University of St Gallen
摘要：Does official aid pave the road for private foreign investment or does it suffocate private initiative by diverting resources towards unproductive activities? We explore this question using panel data covering a large number of developing and emerging economies during the 1990s. Controlling for countries' institutional environment, we find that, evaluated at the mean, the marginal effect of aid on private foreign investment is close to zero. Surprisingly, however, the effect is strictly positi...
