作者：Lowes, Sara; Montero, Eduardo
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; Canadian Institute for Advanced Research (CIFAR); University of Chicago
摘要：All colonial powers granted concessions to private companies to extract natural resources during the colonial era. In Africa, these concessions were characterized by indirect rule and violence. We use the arbitrarily defined borders of rubber concessions granted in the north of the Congo Free State to examine the causal effects of this form of economic organization on development. We find that historical exposure to the concessions causes significantly worse education, wealth, and health outco...
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...
