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作者：Moll, Benjamin
作者单位：University of London; London School Economics & Political Science
摘要：The thesis of this essay is that, in heterogeneous agent macroeconomics, the assumption of rational expectations about equilibrium prices is unrealistic and should be replaced. Rational expectations imply that decision-makers forecast equilibrium prices like interest rates by forecasting cross-sectional distributions. This leads to an extreme version of the curse of dimensionality: dynamic programming problems in which the entire distribution is a state variable (the 'Master equation', also kn...
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作者：Schilling, Pia; Hockel, Lisa Sofie
作者单位：University of Konstanz; Leibniz Association; RWI - Leibniz Institut fur Wirtschaftsforschung; IZA Institute Labor Economics
摘要：We study the effect of separate preparatory language learning classes on the academic outcomes of primary school-aged immigrant children in Germany compared to their direct integration into regular classrooms. Using administrative panel data and leveraging idiosyncratic assignment of refugee children to neighbourhoods, and, consequently, schools, as well as preparatory class roll out over time, we find that primary school-aged refugees attending a preparatory class perform significantly worse ...
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作者：Berg, Petter; Romero, Mauricio; Singh, Abhijeet
作者单位：Stockholm School of Economics; Instituto Tecnologico Autonomo de Mexico
摘要：We study the relative productivity of private and public institutions at the preschool and primary school levels using panel data from 215 villages in Tamil Nadu. Private preschools show higher test score value-added in math and language (${\sim} 0.59 \!-\!0.74\sigma\!$) and outperform government providers in nearly all villages. This productivity difference explains 60% of the socioeconomic test score gap before school entry. These results contrast starkly with primary schooling, where we fin...
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作者：Mansfield, Richard K.
作者单位：University of Colorado System; University of Colorado Boulder
摘要：This paper examines how spatial frictions that differ among heterogeneous workers and establishments shape the geographic and demographic incidence of alternative local labour demand shocks, with implications for the appropriate level of government at which to fund local economic initiatives. Longitudinal Employer-Household Dynamics data featuring millions of job transitions facilitate estimation of a rich two-sided labour market assignment model. The model generates simulated forecasts of man...
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作者：Cali, Massimiliano; Presidente, Giorgio
作者单位：Bocconi University
摘要：This paper unveils a novel externality of product market regulation in the labour market. It shows theoretically and empirically that higher barriers to entry in product markets translate into higher employers' labour market power, measured by the wage markdown-the ratio between the marginal product of labour and the wage. Using quasi-exogenous variation in investment restrictions across 389 manufacturing product markets in Indonesia, the analysis finds that wage markdowns would have been almo...
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作者：Huang, Wei; Liu, Qingfeng; Xing, Jianwei; Zheng, Shilin
作者单位：Peking University; Tsinghua University; Chinese Academy of Social Sciences
摘要：This study leverages personnel system reforms within economics departments at Chinese universities to assess the impact of the tenure-track system on research productivity. Using individual-level data on faculty members, we show that tenure-track faculty produce 0.135 (or 100%) more publications in high-quality journals annually during their probationary period compared to faculty hired under the traditional personnel system. Our findings suggest that this increase in productivity is driven by...
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作者：Koethenbuerger, Marko; Naguib, Costanza; Stettler, Christian; Stimmelmayr, Michael
作者单位：Swiss Federal Institutes of Technology Domain; ETH Zurich; University of Bern; University of Bath
摘要：We provide quasi-experimental evidence on the income tax-induced residential mobility of foreign high-income households living in Switzerland by exploiting the differential tax treatment of UK and US households. While the two groups are similar in terms of non-tax sorting preferences, US households are effectively insulated from Swiss income taxation due to the US worldwide income tax system. Thus, they provide the control group for the UK households, our treatment group. Comparing the residen...
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作者：Faravelli, Marco; Khalil, Umair; Ponnusamy, Sundar
作者单位：University of Queensland; Deakin University
摘要：A procedural rule in Indian elections requires candidates to pay a nominal deposit, which is forfeited on obtaining fewer than one-sixth of the votes. Forfeiture diminishes female recontesting by 13.3 percentage points in the following election (relative effect size of 68%). We find no such effects for men. These effects are persistent and discourage female candidates in the long term as well. States with more regressive gender norms exhibit stronger findings, with female forfeiters also being...
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作者：Meng, Juanjuan; Wang, Hui; Yang, Yu (Alan); Zhang, Mingshan
作者单位：Peking University; China United Network Communications Limited
摘要：Low fertility presents a major challenge for many nations. We study whether restricting competition-driven private tutoring can enhance fertility intentions by analysing China's 2021 private tutoring ban. Using nationwide surveys, we elicit respondents' fertility intentions under scenarios with and without the policy. The tutoring ban significantly increases expected total fertility by 7%-8%, with larger effects in cities under greater policy intensity. Decomposition reveals that the primary d...
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作者：Veiga, Francisco Jose; Veiga, Linda Goncalves; Swank, Otto
作者单位：Universidade do Minho; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
摘要：Political agency models predict that electoral concerns induce politicians to put effort into making policies that benefit citizens. We exploit the introduction of mayoral term limits in Portugal to investigate how electoral incentives affect incumbents' efforts to obtain EU grants. We focus on EU grants because getting them requires effort. Moreover, by obtaining EU grants, mayors can do more for their citizens. We focus on Portugal because it provides a quasi-natural experimental setting to ...
