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作者：Harari, Mariaflavia; Wong, Maisy
作者单位：University of Pennsylvania; National Bureau of Economic Research
摘要：Developing countries face massive urbanization and slum upgrading is a popular policy to improve shelter for many. Yet, preserving slums at the expense of formal developments can raise concerns of misallocation of land. We estimate causal, long-term impacts of the 1969-84 KIP programme, which provided basic upgrades to 5 million residents covering 25% of land in Jakarta, Indonesia. We assemble high-resolution data on programme boundaries and 2015 outcomes and address programme selection bias t...
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作者：Itskhoki, Oleg; Mukhin, Dmitry
作者单位：Harvard University; University of London; London School Economics & Political Science
摘要：Trade wars and financial sanctions are again becoming an increasingly common part of the international economic landscape, and the dynamics of the exchange rate are often used in real time to evaluate the effectiveness of sanctions and policy responses. We show that sanctions limiting a country's exports or freezing its assets depreciate the exchange rate, while sanctions limiting imports appreciate it, even when both types of policies have exactly the same effect on real allocations, includin...
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作者：Kehrig, Matthias; Vincent, Nicolas
作者单位：Duke University; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); Universite de Montreal; HEC Montreal
摘要：We document that most dispersion in marginal revenue products of inputs occurs across plants within firms rather than between firms. This is commonly thought to reflect misallocation: dispersion is bad. However, we show that eliminating frictions hampering internal capital markets in a multi-plant firm model may in fact increase productivity dispersion and raise output: dispersion can be good. This arises as firms optimally stagger investment activity across their plants over time to avoid rai...
