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作者：Dal Bó, P
作者单位：Brown University
摘要：While there is an extensive literature on the theory of infinitely repeated games, empirical evidence on how the shadow of the future affects behavior is scarce and inconclusive. I simulate infinitely repeated prisoner's dilemma games in the lab with a random continuation rule. The experimental design represents an improvement over the existing literature by including sessions with finite repeated games as controls and a large number of players per session (which allows for learning without co...
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作者：Mankiw, NG
作者单位：Harvard University
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作者：Acemoglu, D; Johnson, S; Robinson, J
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Harvard University
摘要：The rise of Western Europe after 1500 is due largely to growth in countries with access to the Atlantic Ocean and with substantial trade with the New World, Africa, and Asia via the Atlantic. This trade and the associated colonialism affected Europe not only directly, but also indirectly by inducing institutional change. Where initial political institutions (those established before 1500) placed significant checks on the monarchy, the growth of Atlantic trade strengthened merchant groups by co...
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作者：Bento, AM; Goulder, LH; Henry, E; Jacobsen, MR; von Haefen, RH
作者单位：University System of Maryland; University of Maryland College Park; Stanford University; North Carolina State University
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作者：Gürkaynak, RS; Sack, B; Swanson, E
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; Ihsan Dogramaci Bilkent University
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作者：Jordà, O
作者单位：University of California System; University of California Davis
摘要：This paper introduces methods to compute impulse responses without specification and estimation of the underlying multivariate dynamic system. The central idea consists in estimating local projections at each period of interest rather than extrapolating into increasingly distant horizons from a given model, as it is done with vector autoregressions (VAR). The advantages of local projections are numerous: (1) they can be estimated by simple regression techniques with standard regression package...
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作者：Hatfield, JW; Milgrom, PR
作者单位：Stanford University; Stanford University
摘要：We develop a model of matching with contracts which incorporates, as special cases, the college admissions problem, the Kelso-Crawford labor market matching model, and ascending package auctions. We introduce a new law of aggregate demand for the case of discrete heterogeneous workers and show that, when workers are substitutes, this law is satisfied by profit-maximizing firms. When workers are substitutes and the law is satisfied, truthful reporting is a dominant strategy for workers in a wor...
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作者：Peek, J; Rosengren, ES
作者单位：University of Kentucky; Federal Reserve System - USA; Federal Reserve Bank - Boston
摘要：We examine the misallocation of credit in Japan associated with the perverse incentives faced by banks to provide additional credit to the weakest firms. Finns are more likely to receive additional bank credit if they are in poor financial condition, because troubled Japanese banks have an incentive to allocate credit to severely impaired borrowers in order to avoid the realization of losses on their own balance sheets. This evergreening behavior is more prevalent among banks that have reporte...
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作者：Urquiola, M
作者单位：Columbia University; Columbia University
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作者：Zak, PJ; Borja, K; Matzner, WT; Kurzban, R
作者单位：Claremont Colleges; Claremont Graduate University; Claremont Colleges; Claremont Graduate University; Loma Linda University; Pepperdine University; University of Pennsylvania
