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作者：Keller, Lorena
作者单位：University of Pennsylvania
摘要：I propose and test a new channel through which covered interest rate parity (CIP) deviations can affect bank lending in emerging econo-mies. I argue that when CIP deviations exist, banks attempt to arbi-trage them. To do so, banks must borrow in a particular currency. When this currency is scarce, bank lending in the currency required to arbitrage decreases, while they use this currency in their arbitrage activities. I test this channel by exploiting differences in the abilities of Peruvian ba...
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作者：Alesina, Alberto; Carlana, Michela; La Ferrara, Eliana; Pinotti, Paolo
作者单位：Harvard University; Center for Economic & Policy Research (CEPR); Harvard University; National Bureau of Economic Research; National Bureau of Economic Research; Harvard University; Bocconi University
摘要：We study how people change their behavior after being made aware of bias. Teachers in Italian schools give lower grades to immigrant students relative to natives of comparable ability. In two experiments , we reveal to teachers their own stereotypes , measured by an Implicit Association Test ( IAT ) . In the first , we find that learning one's IAT before assigning grades reduces the native-immigrant grade gap. In the second , IAT disclosure and generic debiasing have similar average effects , ...
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作者：Gentzkow, Matthew; Shapiro, Jesse m.; Yang, Frank; Yurukoglu, Ali
作者单位：Stanford University; National Bureau of Economic Research; Harvard University
摘要：Existing theories of media competition imply that advertisers will pay a lower price in equilibrium to reach consumers who multi -home across competing outlets. We generalize and extend this theoretical result and test it using data from television and social media advertising. We find that the model is a good match, qualitatively and quantitatively, to variation in advertising prices across demographic groups, outlets, platforms, and over time. We use the model to quantify the effects of comp...
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作者：Chambru, Cedric; Henry, Emeric; Marx, Benjamin
作者单位：Centre National de la Recherche Scientifique (CNRS); Ecole Normale Superieure de Lyon (ENS de LYON); Institut d'Etudes Politiques Paris (Sciences Po); Boston University; National Bureau of Economic Research
摘要：How do radical reforms shape economic development over time? In 1790, the French Constituent Assembly overhauled the kingdom's organization to establish new local capitals. In some departments, the choice of local capitals over rival candidate cities was plausibly exogenous. We study how changes in administrative presence affect state capacity and development in the ensuing decades. In the short run, administrative proximity increases taxation and investments in law enforcement. In the long ru...
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作者：Anderson, Axel; Smith, Lones
作者单位：Georgetown University; University of Wisconsin System; University of Wisconsin Madison
摘要：We create a general and tractable theory of increasing sorting in pairwise matching models with monetary transfers. The positive quadrant dependence partial order subsumes Becker (1973) as the extreme cases with most and least sorting and implies increasing regression coefficients. Our theory turns on synergy-the cross -partial difference or derivative of match production. This reflects basic economic forces: diminishing returns, technological convexity, insurance, and learning dynamics. We pr...
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作者：Quincy, Sarah
作者单位：Vanderbilt University; National Bureau of Economic Research
摘要：This paper identifies how bank branching benefited local economies during the Great Depression. Using archival data and narrative evidence, I show how Bank of America's branch network in 1930s California created an internal capital market that diversified away local liquidity shortfalls, allowing the bank to maintain 49 percent higher credit growth from 1929 to 1933 than competing banks. The bank's presence mitigated cites' property value contractions and strengthened their recovery through 19...
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作者：Higgins, Sean
作者单位：Northwestern University
摘要：Do coordination failures constrain financial technology adoption? Exploiting the Mexican government's rollout of1 million debit cards to poor households from 2009 to 2012, I examine responses on both sides of the market and find important spillovers and distributional impacts. On the supply side, small retail firms adopted point-of-sale terminals to accept card payments. On the demand side, this led to a 21 percent increase in other consumers' card adoption. The supply-side technology adoption...
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作者：Gadenne, Lucie; Norris, Samuel; Singhal, Monica; Sukhtankar, Sandip
作者单位：University of London; London School Economics & Political Science; Queen Mary University London; Centre for Economic Policy Research - UK; University of British Columbia; University of California System; University of California Davis; University of Cambridge; University of Virginia
摘要：Households in developing countries often face variation in the prices of consumption goods. We develop a model demonstrating that in-kind transfers will provide insurance benefits against price risk if the covariance between the marginal utility of income and price is positive. Using calorie shortfalls as a proxy for marginal utility, , we find that this condition holds for low-income Indian households. Expansions in India's flagship in-kind food transfer program not only increase caloric inta...
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作者：He, Zhiguo; Hu, Maggie; Wang, Zhenping; Yao, Vincent
作者单位：Stanford University; National Bureau of Economic Research; City University of New York (CUNY) System; Baruch College (CUNY); University System of Georgia; Georgia State University
摘要：We identify exposure to political risk by exploiting a unique variation around land lease extension protection after 2047 in Hong Kong's housing market due to historical arrangements. Relative to properties that have been promised an extension protection, , those with unprotected leases granted by the current government are sold at a discount of 8 percent; ; those with colonial leases suffer an additional discount of 8 percent. Incorporating estimated structural parameters that suggest an addi...
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作者：Phan, William; Tierney, Ryan; Zhou, Yu
作者单位：North Carolina State University; University of Southern Denmark; Nagoya University
摘要：We consider the market design problem of matching students to schools in the presence of crowding effects. These effects are salient in parents' decision-making and the empirical literature; however, , they cause difficulties in the design of satisfactory mechanisms and, , as such, , are not currently considered. We propose a new framework and an equilibrium notion that accommodates crowding, , no-envy, , and respect for priorities. The equilibrium has a student-optimal element that induces an...
