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作者：Cappelen, Alexander w.; Enke, Benjamin; Tungodden, Bertil
作者单位：Norwegian School of Economics (NHH); National Bureau of Economic Research
摘要：This paper leverages nationally representative surveys across 60 countries and 64,000 respondents to present novel stylized facts about the relationship-specific nature of altruism. Across individuals, universalist preferences systematically vary with demographics such as age and religiosity and are predictive of many left-wing political views, albeit in culturally highly heterogeneous ways. Across countries, universalism is strongly linked to a broader radius of trust. Looking at origins, uni...
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作者：Dhyne, Emmanuel; Kikkawa, Ayumu Ken; Komatsu, Toshiaki; Mogstad, Magne; Tintelnot, Felix
作者单位：European Central Bank; National Bank of Belgium; University of British Columbia; National Bureau of Economic Research; National Taiwan University; University of Chicago; Duke University
摘要：We quantify the firm responses and real wage effects of foreign demand shocks. We use Belgian microdata to construct firm-specific measures of demand shocks, which capture that firms pass on foreign demand shocks to domestic suppliers. Our estimates of firm responses to these shocks suggest that firms face upward-sloping labor supply curves and have sizable fixed labor costs. We specify a general equilibrium model with these features to quantify the aggregate effects of simulated tariff shocks...
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作者：Munoz, Mathilde
作者单位：University of California System; University of California Berkeley; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research
摘要：This paper demonstrates that labor market regulations, such as minimum wages or payroll taxes, shape trade competition in labor-intensive activities. I exploit data from a large European trade program where firms from different countries supply labor services at the same location but face different payroll taxes and minimum wage rules. Country case studies and model-consistent gravity estimates show large trade responses to tax and regulatory reforms, with an elasticity of trade in services to...
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作者：Chopra, Felix; Roth, Christopher; Wohlfart, Johannes
作者单位：Frankfurt School Finance & Management; Leibniz Association; IZA Institute Labor Economics; Ifo Institut; University of Cologne; University of Cologne
摘要：We conduct afield experiment with US households to study how expectations about long-run home price growth shape spending decisions. We exogenously vary survey respondents' expectations by providing different expert forecasts. Homeowners' spending, measured using rich home-scanner data, is inelastic to home price expectations. By contrast, renters reduce their spending when expecting higher home price growth. These patterns reflect positive wealth effects for owners from higher future wealth a...
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作者：Hughes, Niall
作者单位：University of London; King's College London
摘要：I study multidistrict legislative elections with two parties and two binary dimensions of policy. Strategic voters focus on the dimension where their district is most likely to be pivotal in the legislature. Anticipating this, candidates select different policies than they would in single-district elections. The final policy is (i) uniquely pinned down by voter preferences, (ii) preferred by a majority of districts on each dimension, and (iii) a Condorcet winner if one exists. These properties...
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作者：Bekaert, Cherry
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作者：Bonfim, Diana; Ferreira, Miguel A.; Queiro, Francisco; Zhao, Sujiao (Emma)
作者单位：European Central Bank; Banco de Portugal; Universidade Catolica Portuguesa; Universidade Nova de Lisboa; Universidade do Porto
摘要：We measure how cuts to public procurement propagate through the banking system in a financial crisis. During the European sovereign debt crisis, the Portuguese government cut procurement spending by 4.3 percent of GDP. We find that this cut saddled banks with nonperforming loans from government contractors, which led to a persistent reduction in credit supply to other firms. We estimate a bank-level elasticity of credit supply with respect to procurement demand of 2.5. In a general equilibrium...
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作者：Johnson, Simon
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Centre for Economic Policy Research - UK
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作者：Stanton, Christopher T.; Thomas, Catherine
作者单位：Harvard University; National Bureau of Economic Research; Centre for Economic Policy Research - UK; University of London; London School Economics & Political Science
摘要：Online labor platforms for short-term remote work have many more job seekers than available jobs. Despite their relative abundance, workers capture a substantial share of the surplus from transactions. We draw this conclusion from demand estimates that imply workers' wages include significant markups over costs and a survey that validates our surplus estimates. Workers retain a significant share of the surplus because demand-side search frictions and worker differentiation reduce direct compet...
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作者：Levy, Gilat; Razin, Ronny
摘要：This paper investigates the effect of voters' short-term memory on political outcomes by considering politics as a collective learning process. We find that short-term memory may lead to cycles of polarization and consensus across parties' platforms. Following periods of party consensus, short-term memory implies that there is little variation in voters' data and therefore limited information about the true state of the world. This in turn allows parties to further their own interests and henc...
