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作者：Diamond, Douglas W.; Kashyap, Anil K.; Rajan, Raghuram G.
作者单位：University of Chicago
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作者：Galenson, David W.
作者单位：University of Chicago
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作者：Lucas, Robert E., Jr.
作者单位：University of Chicago
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作者：List, John; Uhlig, Harald
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作者：Perez-Truglia, Ricardo; Cruces, Guillermo
作者单位：Microsoft; University of California System; University of California Los Angeles; National Bureau of Economic Research; National University of La Plata; Consejo Nacional de Investigaciones Cientificas y Tecnicas (CONICET)
摘要：We conducted a field experiment to study social influences on partisan political participation. We sent letters to 92,000 contributors during the 2012 presidential election campaign. We randomized features of the letters and measured the effects of these variations on the recipients' subsequent contributions. We find that making an individual's contributions more visible to her neighbors increases the contributions of supporters of the local majority party and decreases those of supporters of ...
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作者：Bekaert, Geert; Engstrom, Eric
作者单位：Columbia University; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：We introduce a bad environment-good environment (BEGE) technology for consumption growth in a consumption-based asset pricing model with external habit formation. The model generates realistic non-Gaussian features of consumption growth and fits standard salient features of asset prices including the means and volatilities of equity returns and a low risk-free rate. BEGE dynamics additionally allow the model to generate realistic properties of equity index options prices and their comovements ...
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作者：Snyder, Jason Alan; Welch, Ivo
作者单位：Utah System of Higher Education; University of Utah; University of California System; University of California Los Angeles; National Bureau of Economic Research
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作者：Cho, SungJin; Rust, John
作者单位：Seoul National University (SNU); Georgetown University
摘要：We analyze high-frequency micro panel data on customers of a major Korean credit card company before and after the 2003 Korean credit crisis and find evidence of pervasive precommitment behavior that is difficult to explain using standard economic theories: (1) customers voluntarily reduce their credit card borrowing limits without any compensation, (2) customers turn down interest-free installment loan offers with high probability, and (3) of the small fraction of customers who do accept inte...
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作者：Satyanath, Shanker; Voigtlander, Nico; Voth, Hans-Joachim
作者单位：New York University; University of California System; University of California Los Angeles; National Bureau of Economic Research; Centre for Economic Policy Research - UK; University of Zurich
摘要：Using newly collected data on association density in 229 towns and cities in interwar Germany, we show that denser social networks were associated with faster entry into the Nazi Party. The effect is large: one standard deviation higher association density is associated with at least 15 percent faster Nazi Party entry. Party membership, in turn, predicts electoral success. Social networks thus aided the rise of the Nazis that destroyed Germany's first democracy. The effects of social capital d...
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作者：Azmat, Ghazala; Ferrer, Rosa
作者单位：Centre for Economic Policy Research - UK; University of London; Queen Mary University London; University of London; Queen Mary University London; Pompeu Fabra University; Pompeu Fabra University; Centre for Economic Policy Research - UK
摘要：This paper documents the gender gap in performance among high-skilled professionals in the United States. On the basis of widely used performance measures in law firms, we find that male lawyers bill 10 percent more hours and bring in more than twice as much new client revenue as female lawyers. The differential impact across genders in the presence of young children and differences in aspirations to become a law firm partner account for a large share of the difference in performance. We show ...
