-
作者：Martin, Philippe; Mayer, Thierry; Thoenig, Mathias
作者单位：heSam Universite; Universite Pantheon-Sorbonne; Paris School of Economics; University of Geneva; Paris School of Economics
摘要：This paper analyses theoretically and empirically the relationship between military conflicts and trade. We show that the conventional wisdom that trade promotes peace is only partially true even in a model where trade is economically beneficial, military conflicts reduce trade, and leaders are rational. When war can occur because of the presence of asymmetric information, the probability of escalation is lower for countries that trade more bilaterally because of the opportunity cost associate...
-
作者：Klein, Paul; Krusell, Per; Rios-Rull, Jose-Victor
作者单位：Western University (University of Western Ontario); Princeton University; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; University of Minnesota System; University of Minnesota Twin Cities; Center for Economic & Policy Research (CEPR); University of Pennsylvania
摘要：In this paper we study how a benevolent government that cannot commit to future policy should trade off the costs and benefits of public expenditure. We characterize and solve for Markov-perfect equilibria of the dynamic game between successive governments. The characterization consists of an inter-temporal first-order condition (a generalized Euler equation) for the government, and we use it both to gain insight into the nature of the equilibrium and as a basis for computations. For a calibra...
-
作者：Magnac, Thierry; Maurin, Eric
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Paris School of Economics
摘要：We investigate identification in semi-parametric binary regression models, y = 1(x beta + upsilon + epsilon > 0) when upsilon is either discrete or measured within intervals. The error term epsilon is assumed to be uncorrelated with a set of instruments z, epsilon is independent of upsilon conditionally on x and z, and the support of - (x beta + epsilon) is finite. We provide a sharp characterization of the set of observationally equivalent parameters beta. When there are as many instruments z...
