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作者：Ashraf, Nava
作者单位：Harvard University
摘要：I elicit causal effects of spousal observability and communication on financial choices of married individuals in the Philippines. When choices are private, men put money into their personal accounts. When choices are observable, men commit money to consumption for their own benefit. When required to communicate, men put money into their wives' account. These strong treatment effects on men, but not women, appear related more to control than to gender: men whose wives control household savings...
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作者：Eeckhout, Jan
作者单位：University of Pennsylvania
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作者：Levy, Moshe
作者单位：Hebrew University of Jerusalem
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作者：Del Negro, Marco; Schorfheide, Frank
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; University of Pennsylvania
摘要：Policy analysis with potentially misspecified dynamic stochastic general equilibrium (DSGE) models faces two challenges: estimation of parameters that are relevant for policy trade-offs, and treatment of the deviations from the cross-equation restrictions. Using post-1982 US data, we study the robustness of the policy prescriptions from a state-of-the-art DSGE model with respect to two approaches to model misspecification pursued in the recent literature: (i) adding shocks to the DSGE model an...
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作者：Benati, Luca; Surico, Paolo
作者单位：European Central Bank; Bank of England
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作者：Longstaff, Francis A.
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research
摘要：Many classes of assets are illiquid or nonmarketable in that they cannot always be traded immediately. Thus, a portfolio position in these becomes at least temporarily irreversible. We study the asset-pricing implications of this type of illiquidity in an exchange economy with heterogeneous agents. In this market, one asset is always liquid. The other asset can be traded initially, but then not again. until after a blackout period. Illiquidity has a dramatic effect. Agents abandon diversificat...
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作者：Kosfeld, Michael; Okada, Akira; Riedl, Arno
作者单位：Goethe University Frankfurt; Hitotsubashi University; Maastricht University
摘要：Sanctioning institutions are of utmost importance for overcoming free-riding tendencies and enforcing outcomes that maximize group welfare in social dilemma situations. We investigate, theoretically and experimentally, the endogenous formation of institutions in public goods provision. Our theoretical analysis shows that players may form sanctioning institutions in equilibrium, including those governing only a subset of players. The experiment confirms that institutions are formed and that it ...
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作者：Sialm, Clemens
作者单位：University of Texas System; University of Texas Austin; National Bureau of Economic Research
摘要：The tax burden on equity securities has varied substantially over time and remains a source of continuing policy debate. This paper investigates whether investors were compensated for the tax burden of equity securities over the period between 1913 and 2006. Taxes on equity securities vary over time due to changes in dividend and capital gains tax rates and due to changes in corporate payout policies. Equity taxes also vary across firms due to persistent differences in propensities to pay divi...
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作者：Angrist, Joshua; Lavy, Victor
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Hebrew University of Jerusalem; University of London
摘要：The Israeli matriculation certificate is a prerequisite for most postsecondary schooling. In a randomized trial, we attempted to increase certification rates among low-achievers with cash incentives. The experiment used a school-based randomization design offering awards to all who passed their exams in treated schools. This led to a substantial increase in certification rates for girls but had no effect on boys. Affected girls had a relatively high ex ante chance of certification. The increas...
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作者：Bergstrom, Theodore C.; Garratt, Rodney T.; Sheehan-Connor, Damien
作者单位：University of California System; University of California Santa Barbara; Wesleyan University
摘要：Stem cell transplants save lives of many patients with blood diseases. Donation is painful, but rarely has lasting adverse effects. Patients can accept transplants only from donors with compatible immune systems. Those lacking a sibling match must seek donations from the general population. The probability that two unrelated persons are compatible is less than 1/10,000. Health authorities maintain a registry of several million genetically tested potential donors who agree to donate if asked. W...
