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作者：Montero, Eduardo
作者单位：National Bureau of Economic Research; University of Chicago; University of Chicago
摘要：In cooperative property rights systems, workers jointly own and manage production, whereas in outside-ownership systems, an owner contracts workers. Despite a rich literature on how the allocation of property rights matters for specialization, efficiency, and equity, little causal evidence exists. During a land reform in El Salvador in 1980, the military government reorganized properties owned by individuals with cumulative landholdings over 500 hectares into cooperatives; properties below thi...
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作者：Ryan, Nicholas; Sudarshan, Anant
作者单位：Yale University; University of Chicago
摘要：Common resources may be managed with inefficient policies for the sake of equity. We study how rationing the commons shapes the efficiency and equity of resource use in the context of agricultural groundwater use in Rajasthan, India. We find that rationing binds on input use, such that farmers, despite trivial prices for water extraction, use roughly the socially optimal amount of water on average. The rationing regime is still grossly inefficient, because it misallocates water across farmers,...
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作者：Anderson, Stephen J.; McKenzie, David
作者单位：University of Texas System; University of Texas Austin; The World Bank
摘要：Many small firms lack the finance and marketing skills needed for growth. A standard approach is to train the entrepreneur in these skills. However, rather than requiring entrepreneurs to learn everything, an alternative is to move beyond the boundary of the entrepreneur and link firms to these skills in a marketplace through insourcing workers or outsourcing tasks to professionals. We conducted a randomized experiment in Nigeria to test the relative effectiveness of these different approaches...
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作者：Justiniano, Alejandro; Primiceri, Giorgio E.; Tambalotti, Andrea
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago; Northwestern University; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：We study the interest rates of privately securitized residential mortgages during the credit boom of the early 2000s. They reveal a sharp and persistent drop in the spread between mortgage and Treasury rates starting in the summer of 2003. The emergence of this mortgage rate conundrum immediately followed the collapse of an unprecedented refinancing wave, and it was more pronounced in the regions where that wave had grown faster. These same areas also experienced more originations of the nonco...
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作者：Adhvaryu, Achyuta; Kala, Namrata; Nyshadham, Anant
作者单位：University of Michigan System; University of Michigan; Massachusetts Institute of Technology (MIT); Center for Economic & Policy Research (CEPR); University of Michigan System; University of Michigan; National Bureau of Economic Research
摘要：We study how managers mitigate the negative impacts of environmental shocks. Pairing productivity data from a garment firm with granular measures of air pollution, we show that productivity suffers as a result of pollution shocks but that managers respond by reallocating particularly sensitive workers to improve worker-to-task matches, thus mitigating team productivity losses. Responses are smaller for more inattentive managers; these same managers are also least able to mitigate productivity ...
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作者：Genicot, Garance
作者单位：Georgetown University; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR)
摘要：Individuals typically differ in their identities-the behaviors they deem ideal for themselves and for the members of their network-and in their tolerance for behaviors that deviate from their ideals. This paper studies compromise-that is, departures from one's ideal point, to be accepted by others. I show that an individual's compromise in equilibrium is bounded by the difference between her tolerance level and the lowest tolerance level in society. Relatively intolerant individuals, who serve...
