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作者：Rauch, JE; Casella, A
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); Columbia University
摘要：Incomplete information creates matching friction that interferes with the ability of prices to allocate scarce resources across countries but can be overcome by international information-sharing networks. When the difference between country factor-endowment ratios is large relative to network ties, efficient arbitrage breaks down, the price (wage) of each country's immobile resource becomes partially insulated from changes in foreign supply, and trade liberalisation causes less resource price ...
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作者：Disney, R
作者单位：University of Nottingham
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作者：Davis, EP
作者单位：Brunel University
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作者：Garratt, A; Lee, K; Pesaran, MH; Shin, Y
作者单位：University of Leicester; University of Cambridge; University of Edinburgh
摘要：A new modelling strategy that provides a practical approach to incorporating long-run structural relationships, suggested by economic theory, in an otherwise unrestricted VAR model is applied to construct a small quarterly macroeconometric model of the UK, estimated over 1965q1-1999q4 in nine variables: domestic and foreign outputs, prices and interest rates, oil prices, the nominal effective exchange rate, and real money balances. The aim is to develop a model with a transparent and theoretic...
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作者：Benigno, G; Thoenissen, C
作者单位：University of London; London School Economics & Political Science; Bank of England
摘要：We develop a two-country, optimising, sticky prices and sticky wages model of real exchange rate determination in the new open macrocconomics tradition to analyse the interaction between supply-side behaviour, market structure and the real exchange rate. For a UK-euro area calibration, supply-side improvements to total factor productivity (TFP) or the degree of monopolistic competition in the goods and labour markets result in a depreciation of the real exchange rate. When TFP increases in the...
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作者：Francois, P
作者单位：University of Bristol; University of British Columbia
摘要：Not-for-profit firms are greatly over-represented in the childcare, medical care, education and care for the aged sectors where service providing workers, as well as purchasers, seem to care about the level or quality of service being provided. Since all individuals who care about service levels receive non-excludable benefits, these services have a public good element. Such care can be used to motivate employees to perform tasks beyond their strict job description. But such care only motivate...
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作者：Evans, MDD
摘要：I present a model for the term structures of nominal and real interest rates in the UK that incorporates Markov-switching and allows for non-neutralities, nonlinear dynamics, and flexibility in the dynamics of the risk premia. The model is used to assess how accurately the term structure reflects changing expectations of future yields and inflation. I find that variations in inflation expected over the next two to three years are very accurately reflected by current yields. Over longer horizon...
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作者：Dercon, S; Krishnan, P
作者单位：University of Oxford; University of Cambridge
摘要：We use public transfers in the form of food aid to test for the presence of risk sharing arrangements at the village level in rural Ethiopia. We reject perfect risk-sharing, but find evidence of partial fisk-sharing via transfers. There is also evidence consistent with crowding out of informal insurance linked to food aid programmes.
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作者：Michelacci, C
摘要：This paper proposes a model of endogenous growth where innovating requires both researchers, who produce inventions, and entrepreneurs who implement them. As research and entrepreneurship compete in the allocation of aggregate resources, the relation between growth and research effort is hump-shaped. When entrepreneurs appropriate too little rents from innovation, too few resources are allocated to entrepreneurship and returns to R&D are low because of this lack of entrepreneurial skills. When...
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作者：Aw, BY; Chung, S; Roberts, MJ
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：We use micro panel data for producers in seven two-digit manufacturing industries in South Korea and Taiwan and identify a number of systematic differences in industry structure between the countries. Our empirical findings indicate Taiwanese industries are characterised by less concentrated market structure, more producer turnover, smaller within-industry productivity dispersion across producers, a smaller percentage of plants operating at low productivity levels, and smaller productivity dif...
