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作者：Morgan, DP; Rime, B; Strahan, PE
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Boston College; National Bureau of Economic Research
摘要：We investigate how integration of bank ownership across states has affected economic volatility within states. In theory, bank integration could cause higher or lower volatility, depending on whether credit supply or credit demand shocks predominate. In fact, year-to-year fluctuations in a state's economic growth fall as its banks become more integrated (via holding companies) with banks in other states. As the bank linkages between any pair of states increase, fluctuations in those two states...
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作者：King, RG; Wolman, AL
作者单位：Boston University; Federal Reserve System - USA; Federal Reserve Bank - Richmond; National Bureau of Economic Research
摘要：A discretionary policy-maker responds to the state of the economy each period. Private agents' current behavior determines the future state based on expectations of future policy. Discretionary policy thus can lead to dynamic complementarity between private agents and a policy-maker, which in turn can generate multiple equilibria. Working in a simple new Keynesian model with two-period staggered pricing-in which equilibrium is unique under commitment-we illustrate this interaction: if firms ex...
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作者：Castro, R
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作者：Fernández, R; Fogli, A; Olivetti, C
作者单位：New York University; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; Boston University
摘要：This paper argues that the growing presence of a new type of man-one brought up in a family in which the mother worked-has been a significant factor in the increase in female labor force participation over time. We present cross-sectional evidence showing that the wives of men whose mothers worked are themselves significantly more likely to work. We use variation in the importance of World War II as a shock to women's labor force participation-as proxied by variation in the male draft rate acr...
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作者：Akhmedov, A; Zhuravskaya, E
作者单位：Centre for Economic Policy Research - UK
摘要：This paper tests the theory of opportunistic cycles in a decade-old democracy Russia-finds strong evidence of cycles, and provides an explanation for why previous literature often found weaker evidence. Using regional monthly panel data, we find that (1) the budget cycle is sizable and short-lived; public spending shifts toward direct monetary transfers to voters; (2) the magnitude of the cycle decreases with democracy, government transparency, media freedom, voter awareness, and over time; an...
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作者：Davis, JH
作者单位：The Vanguard Group, Inc.
摘要：As a remedy for the notorious deficiency of pre-Civil War U.S. macroeconomic data, this study introduces an annual index of American industrial production consistently defined from 1790 until World War I. The index incorporates 43 quantity-based annual series (most entirely new) in the manufacturing and mining industries in a manner similar to the Federal Reserve Board's monthly industrial production index. The index changes our view of the growth and volatility of the U. S. economy before Wor...
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作者：DiNardo, J; Lee, DS
作者单位：University of Michigan System; University of Michigan; National Bureau of Economic Research; University of California System; University of California Berkeley
摘要：Economic impacts of unionization on employers are difficult to estimate in the absence of large, representative data on establishments with union status information. Estimates are also confounded by selection bias, because unions could organize at highly profitable enterprises that are more likely to grow and pay higher wages. Using multiple establishment-level data sets that represent establishments that faced organizing drives in the United States during 1984-1999, this paper uses a regressi...
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作者：Botero, JC; Djankov, S; La Porta, R; Lopez-de-Silanes, F; Shleifer, A
作者单位：Yale University; The World Bank; Dartmouth College; National Bureau of Economic Research; Harvard University
摘要：We investigate the regulation of labor markets through employment, collective relations, and social security laws in 85 countries. We find that the political power of the left is associated with more stringent labor regulations and more generous social security systems, and that socialist, French, and Scandinavian legal origin countries have sharply higher levels of labor regulation than do common law countries. However, the effects of legal origins are larger, and explain more of the variatio...
