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作者：Maggiori, Matteo
作者单位：Harvard University; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR)
摘要：I model the equilibrium risk sharing between countries with varying financial development. The most financially developed country takes greater risks because its financial intermediaries deal with funding problems better. In good times, the more financially developed country consumes more and runs a trade deficit financed by the higher financial income that it earns as compensation for taking greater risk. During global crises, it suffers heavier losses. Its currency emerges as the reserve cur...
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作者：Martin, Gregory J.; Yurukoglu, Ali
作者单位：Emory University; Stanford University; National Bureau of Economic Research
摘要：We measure the persuasive effects of slanted news and tastes for like-minded news, exploiting cable channel positions as exogenous shifters of cable news viewership. Channel positions do not correlate with demographics that predict viewership and voting, nor with local satellite viewership. We estimate that Fox News increases Republican vote shares by 0.3 points among viewers induced into watching 2.5 additional minutes per week by variation in position. We then estimate a model of voters who ...
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作者：Huang, Zhangkai; Li, Lixing; Ma, Guangrong; Xu, Lixin Colin
作者单位：Tsinghua University; Peking University; Renmin University of China; The World Bank
摘要：Hayek (1945) argues that local information is key to understanding the efficiency of alternative economic systems and whether production should be centralized or decentralized. The Chinese experience of decentralizing SOEs confirms this insight: when the distance to the government is farther, the SOE is more likely to be decentralized, and this distance-decentralization link is more pronounced with higher communication costs and greater firm-performance heterogeneity. However, when the Chinese...
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作者：Berman, Nicolas; Couttenier, Mathieu; Rohner, Dominic; Thoenig, Mathias
作者单位：Centre National de la Recherche Scientifique (CNRS); Aix-Marseille Universite; Center for Economic & Policy Research (CEPR); University of Geneva; University of Lausanne; University of Lausanne
摘要：We combine georeferenced data on mining extraction of 14 minerals with information on conflict events at spatial resolution of 0.5 o x 0.5 o for all of Africa between 1997 and 2010. Exploiting exogenous variations in world prices, we find a positive impact of mining on conflict at the local level. Quantitatively, our estimates suggest that the historical rise in mineral prices (commodity super-cycle) might explain up to one-fourth of the average level of violence across African countries over ...
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作者：Bogan, Vicki L.; Fernandez, Jose M.
作者单位：Cornell University; University of Louisville
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作者：Graetz, Georg; Michaels, Guy
作者单位：Uppsala University; University of London; London School Economics & Political Science
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作者：Guvenen, Fatih; Karahan, Fatih; Ozkan, Serdar; Song, Jae
作者单位：University of Minnesota System; University of Minnesota Twin Cities; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - New York; University of Toronto
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作者：Heckman, James J.; Singer, Burton
作者单位：University of Chicago; State University System of Florida; University of Florida
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作者：Bernheim, B. Douglas; Madsen, Erik
作者单位：Stanford University; National Bureau of Economic Research; New York University
摘要：Although economists have made substantial progress toward formulating theories of collusion in industrial cartels that account for a variety of fact patterns, important puzzles remain. Standard models of repeated interaction formalize the observation that cartels keep participants in line through the threat of punishment, but they fail to explain two important factual observations: first, apparently deliberate cheating actually occurs; second, it frequently goes unpunished even when it is dete...
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作者：Martin, Leslie A.; Nataraj, Shanthi; Harrison, Ann E.
作者单位：University of Melbourne; RAND Corporation; University of Pennsylvania; National Bureau of Economic Research
摘要：An ongoing debate in employment policy is whether promoting small and medium enterprises creates jobs. We use the elimination of small-scale industry (SSI) promotion in India to address this question. For 60 years, SSI promotion in India focused on reserving certain products for manufacture by small and medium enterprises. We identify the consequences for employment growth, investment, output, productivity, and wages of dismantling India's SSI reservations. We exploit variation in the timing o...
