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作者：Abadie, A; Gardeazabal, J
作者单位：Harvard University; University of Basque Country
摘要：This article investigates the economic effects of conflict, using the terrorist conflict in the Basque Country as a case study. We find that, after the outbreak of terrorism in the late 1960's, per capita GDP in the Basque Country declined about 10 percentage points relative to a synthetic control region without terrorism. In addition, we use the 1998-1999 truce as a natural experiment. We find that stocks of firms with a significant part of their business in the Basque Country showed a positi...
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作者：Agnew, J; Balduzzi, P; Sundén, A
作者单位：William & Mary; Boston College; Boston College
摘要：We study nearly 7,000 retirement accounts during the April 1994-August 1998 period. Several interesting patterns emerge. Most asset allocations are extreme (either 100 percent or zero percent in equities) and there is inertia in asset allocations. Equity allocations are higher for males, married investors, and for investors with higher earnings and more seniority on the job; equity allocations are lower for older investors. There is very limited portfolio reshuffling, in sharp contrast to disc...
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作者：Anderson, JE; van Wincoop, E
作者单位：Boston College; National Bureau of Economic Research; University of Virginia
摘要：Gravity equations have been widely used to infer trade flow effects of various institutional arrangements. We show that estimated gravity equations do not have a theoretical foundation. This implies both that estimation suffers from omitted variables bias and that comparative statics analysis is unfounded. We develop a method that (i) consistently and efficiently estimates a theoretical gravity equation and (ii) correctly calculates the comparative statics of trade frictions. We apply the meth...
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作者：Kamstra, MJ; Kramer, LA; Levi, MD
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Atlanta; University of Toronto; University of British Columbia
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作者：Komlos, J
作者单位：University of Munich
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作者：Stole, LA; Zwiebel, J
作者单位：University of Chicago; Stanford University
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作者：Wei, C
作者单位：University of North Carolina; University of North Carolina Chapel Hill
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作者：Masclet, D; Noussair, C; Tucker, S; Villeval, MC
作者单位：Centre National de la Recherche Scientifique (CNRS); Ecole Normale Superieure de Lyon (ENS de LYON); Universite Claude Bernard Lyon 1; Universite Jean Monnet; Universite Lyon 2; Emory University; University of Canterbury
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作者：MacLeod, WB
作者单位：University of Southern California; University of Southern California
摘要：This paper extends the standard principal-agent model to allow for subjective evaluation. The optimal contract results in more compressed pay relative to the case with verifiable performance measures. Moreover, discrimination against an individual implies lower pay and performance, suggesting that the extent of discrimination as measured after controlling for performance may underestimate the level of true discrimination. Finally, the optimal contract entails the use of bonus pay rather than t...
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作者：Robson, AJ; Kaplan, HS
作者单位：Western University (University of Western Ontario); University of New Mexico
摘要：The economics of hunting and gathering must have driven the biological evolution of human characteristics, since hunter-gatherer societies prevailed for the two million years of human history. These societies feature huge intergenerational resource flows, suggesting that these resource flows should replace fertility as the key demographic consideration. It is then theoretically expected that life expectancy and brain size would increase simultaneously, as apparently occurred during our evoluti...
