-
作者：Siddique, Abu; Vlassopoulos, Michael; Zenou, Yves
作者单位：University of London; Royal Holloway University London; University of London; London School Economics & Political Science; University of Southampton; Monash University; Centre for Economic Policy Research - UK
摘要：This article investigates whether virtual contact, initiated through a documentary film, can promote interethnic harmony. We carried out a cluster-randomized field experiment involving over 3,300 households across 121 multiethnic villages in Bangladesh. We find that a documentary film, designed to humanize the ethnic-minority Santals and evoke empathy among the ethnic majority Bengalis, increased the ethnic majority's prosociality toward minorities, though the strength of the evidence varies b...
-
作者：Baron, Matthew; Laeven, Luc; Penasse, Julien; Usenko, Yevhenii
作者单位：Georgetown University; European Central Bank; Tilburg University; Centre for Economic Policy Research - UK; University of Luxembourg; Massachusetts Institute of Technology (MIT)
摘要：We study the mechanisms driving bank losses across historical banking crises in 46 economies and the effectiveness of policy interventions in restoring bank capitalization. We find that bank stocks experience large, permanent declines at the onset of crises. These losses predict commensurate long-term declines in banks' earnings and dividends, rather than elevated future equity returns. Bank losses are primarily driven by write-downs of nonperforming assets, not asset sales during panics. Forc...
-
作者：Juhasz, Reka; Sakabe, Shogo; Weinstein, David E.
作者单位：University of British Columbia; Centre for Economic Policy Research - UK; National Bureau of Economic Research; Columbia University
摘要：This article examines the global adoption of technology in the late nineteenth century. We construct several novel data sets to test the idea that the codification of technical knowledge in the vernacular was necessary for countries to absorb the technologies of the first Industrial Revolution. We find that comparative advantage shifted to industries that could benefit from these technologies in countries and colonies with access to codified technical knowledge, but not in other regions. Using...
-
作者：Mcleay, Michael; Tenreyro, Silvana
作者单位：Bank of England; University of London; London School Economics & Political Science
摘要：Has the dominance of the dollar in global trade rendered monetary policy ineffective? An emerging view contends that if a country invoices its exports in dollars, exchange rates cannot stabilize economic activity, as the classical expenditure-switching channel is muted. This view rests on the premise that export prices are sticky in dollars, breaking the link between export demand and depreciations. But this assumption is not borne out by the data: goods priced in dollars tend to have more fle...
-
作者：Costa-Ramon, Ana; Slotwinski, Michaela; Schaede, Ursina; Brenoe, Anne Ardila
作者单位：University of Zurich; Centre for Economic Policy Research - UK; University of Neuchatel; University of Basel; Leibniz Association; Ifo Institut; Tufts University
摘要：Does information about the long-run financial costs of reduced labor supply increase mothers' working hours? We document descriptively that long-term financial factors are not top of mind when mothers decide on their employment level. Moreover, a substantial share of women holds overly optimistic expectations about pension receipt and wage growth under part-time work. In a large-scale field experiment in Switzerland, we randomly assign mothers working part-time as teachers to receive objective...
-
作者：Taubinsky, Dmitry; Butera, Luigi; Saccarola, Matteo; Lian, Chen
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：We study how people's beliefs about the economy covary with household-level events, using a unique link between Danish administrative data and a large-scale survey of consumer expectations. We find that compared to actual inflation, people's inflation forecasts covary much more strongly (and negatively) with both recently realized household income changes and measures of expected future household income changes. We formally establish that these findings are stark deviations from the Bayesian r...
-
作者：Nimier-David, Elio; Sraer, David; Thesmar, David
作者单位：Cornell University; University of California System; University of California Berkeley; National Bureau of Economic Research; Centre for Economic Policy Research - UK; Massachusetts Institute of Technology (MIT)
摘要：Since 1967, all French firms with more than 100 employees have been required to share a fraction of their excess profits with their employees. Through this scheme, firms with excess profits distribute, on average, 10.5% of their pretax income to workers. In 1990, the eligibility threshold was reduced to 50 employees. We exploit this regulatory change to identify the effects of mandated profit-sharing on firms and their employees. The cost of mandated profit-sharing for firms is evident in the ...
-
作者：Sangani, Kunal
作者单位：Northwestern University
摘要：Empirical studies find that the pass-through of input cost changes to prices is incomplete: a 10% increase in costs causes downstream prices to rise less than 10%, even at long horizons. Using microdata from gas stations, food products, and manufacturing industries, I find that incomplete pass-through in percentages often disguises complete pass-through in levels: a $1/unit increase in input costs leads to $1/unit higher downstream prices. Pass-through appears incomplete in percentages due to ...
-
作者：Andries, Marianne; Bursztyn, Leonardo; Chaney, Thomas; Djourelova, Milena; Imas, Alex
摘要：We explore the mechanics of empathy. We show that information about an outgroup can activate and magnify empathy when presented in conjunction with an experience simulating their struggles. This response increases the willingness to help the struggling group. We provide evidence for this effect in an immersive virtual reality experiment where participants (witnesses) experience a simulation of the struggle of unauthorized migrants (protagonists), then replicate these results in a series of con...
-
作者：Cirera, Xavier; Comin, Diego; Cruz, Marcio
作者单位：The World Bank; The World Bank
摘要：We study technology sophistication using a novel approach that measures the sophistication of the most advanced (MAX) and the most widely used (MOST) technologies in key business functions within establishments. Using data from over 21,000 establishments across 15 countries, we find that establishments generally underutilize the most sophisticated technologies available in a business function. These MAX-MOST gaps are persistent and strongly associated with productivity both across establishmen...
