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作者：Cameron, Lisa; Seager, Jennifer; Shah, Manisha
作者单位：University of Melbourne; George Washington University; University of California System; University of California Los Angeles; National Bureau of Economic Research
摘要：We examine the impact of criminalizing sex work, exploiting an event in which local officials unexpectedly criminalized sex work in one district in East Java, Indonesia, but not in neighboring districts. We collect data from female sex workers and their clients before and after the change. We find that criminalization increases sexually transmitted infections among female sex workers by 58 percent, measured by biological tests. This is driven by decreased condom access and use. We also find ev...
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作者：Lian, Chen; Ma, Yueran
作者单位：University of California System; University of California Berkeley; University of Chicago
摘要：Macro-finance analyses commonly link firms' borrowing constraints to the liquidation value of physical assets. For U.S. nonfinancial firms, we show that 20% of debt by value is based on such assets (asset-based lending in creditor parlance), whereas 80% is based predominantly on cash flows from firms' operations (cash flow-based lending). A standard borrowing constraint restricts total debt as a function of cash flows measured using operating earnings (earnings-based borrowing constraints). Th...
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作者：Angeletos, George-Marios; Sastry, Karthik A.
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：Should policy communications aim at anchoring expectations of the policy instrument (keep interest rates at zero until date tau) or of the targeted outcome (do whatever it takes to bring unemployment down to y%)? We study how the optimal approach depends on a departure from rational expectations. People have limited depth of knowledge and rationality, or form otherwise distorted beliefs about the behavior of others and the general equilibrium (GE) effects of policy. The bite of this distortion...
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作者：Shapiro, Joseph S.
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：This article describes a new fact, then analyzes its causes and consequences: in most countries, import tariffs and nontariff barriers are substantially lower on dirty than on clean industries, where an industry's dirtiness is defined as its carbon dioxide (CO2) emissions per dollar of output. This difference in trade policy creates a global implicit subsidy to CO2 emissions in internationally traded goods and contributes to climate change. This global implicit subsidy to CO2 emissions totals ...
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作者：Breza, Emily; Kinnan, Cynthia
作者单位：Harvard University; National Bureau of Economic Research; Tufts University
摘要：In October 2010, the state government of Andhra Pradesh, India, issued an emergency ordinance, bringing microfinance activities in the state to a complete halt and causing a nationwide shock to the liquidity of lenders, especially those with loans in the affected state. We use this massive dislocation in the microfinance market to identify the causal impacts of a reduction in credit supply on consumption, earnings, and employment in general equilibrium in rural labor markets. Using a proprieta...
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作者：Setzler, Bradley; Tintelnot, Felix
作者单位：University of Chicago; National Bureau of Economic Research
摘要：Governments go to great lengths to attract foreign multinationals because they are thought to raise the wages paid to their employees (direct effects) and to improve outcomes at local domestic firms (indirect effects). We construct the first U.S. employer-employee data set with foreign ownership information from tax records to measure these direct and indirect effects. We find the average direct effect of a foreign multinational firm on its U.S. workers is a 7% increase in wages. This premium ...
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作者：Farber, Henry S.; Herbst, Daniel; Kitziemko, Ilyana; Naidu, Suresh
作者单位：Princeton University; University of Arizona; Columbia University
摘要：U.S. income inequality has varied inversely with union density over the past 100 years. But moving beyond this aggregate relationship has proven difficult, in part because of limited microdata on union membership prior to 1973. We develop a new source of microdata on union membership dating back to 1936, survey data primarily from Gallup (N approximate to 980,000), to examine the long-run relationship between unions and inequality. We document dramatic changes in the demographics of union memb...
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作者：Augenblick, Ned; Rabin, Matthew
作者单位：University of California System; University of California Berkeley; Harvard University
摘要：When a Bayesian learns new information and changes her beliefs, she must on average become concomitantly more certain about the state of the world. Consequently, it is rare for a Bayesian to frequently shift beliefs substantially while remaining relatively uncertain, or, conversely, become very confident with relatively little belief movement. We formalize this intuition by developing specific measures of movement and uncertainty reduction given a Bayesian's changing beliefs over time, showing...
