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作者：Fouka, Vasiliki; Mazumder, Soumyajit; Tabellini, Marco
作者单位：Stanford University; Centre for Economic Policy Research - UK; National Bureau of Economic Research; Harvard University; Harvard University; IZA Institute Labor Economics
摘要：How does the arrival of a new minority group affect the social acceptance and outcomes of existing minorities? We study this question in the context of the First Great Migration. Between 1915 and 1930, 1.5 million African Americans moved from the U.S. South to Northern urban centres, which were home to millions of European immigrants arrived in previous decades. We formalize and empirically test the hypothesis that the inflows of Black Americans changed perceptions of outgroup distance among n...
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作者：Barnichon, Regis; Debortoli, Davide; Matthes, Christian
作者单位：Federal Reserve System - USA; Federal Reserve Bank - San Francisco; Centre for Economic Policy Research - UK; Pompeu Fabra University; Centre de Recerca en Economia Internacional (CREI); Barcelona School of Economics; Indiana University System; Indiana University Bloomington
摘要：This article argues that an important, yet overlooked, determinant of the government spending multiplier is the direction of the fiscal intervention. Regardless of whether we identify government spending shocks from (1) a narrative approach or (2) a timing restriction, we find that the contractionary multiplier-the multiplier associated with a negative shock to government spending-is above 1 and largest in times of economic slack. In contrast, the expansionary multiplier-the multiplier associa...
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作者：Meghir, Costas; Mobarak, A. Mushfiq; Mommaerts, Corina; Morten, Melanie
作者单位：Yale University; National Bureau of Economic Research; University of Wisconsin System; University of Wisconsin Madison; Stanford University
摘要：We document that an experimental intervention offering transport subsidies for poor rural households to migrate seasonally in Bangladesh improved risk sharing. A theoretical model of endogenous migration and risk sharing shows that the effect of subsidizing migration depends on the underlying economic environment. If migration is risky, a temporary subsidy can induce an improvement in risk sharing and enable profitable migration. We estimate the model and find that the migration experiment inc...
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作者：Chahrour, Ryan; Jurado, Kyle
作者单位：Boston College; Duke University
摘要：Time series methods for identifying structural economic disturbances often require disturbances to satisfy technical conditions that can be inconsistent with economic theory. We propose replacing these conditions with a less restrictive condition called recoverability, which only requires that the disturbances can be inferred from the observable variables. As an application, we show how shifting attention to recoverability makes it possible to construct new identifying restrictions for technol...
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作者：Bahaj, Saleem; Reis, Ricardo
作者单位：University of London; University College London; Bank of England; University of London; London School Economics & Political Science
摘要：Theory predicts that central-bank lending programs put ceilings on private domestic lending rates, reduce ex post financing risk, and encourage ex ante investment. This article shows that with global banks and integrated financial markets, but domestic central banks, then lending of last resort can be achieved using swap lines. Through them, a source central bank provides source-currency credit to recipient-country banks using the recipient central bank as the monitor and as the bearer of the ...
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作者：Queiro, Francisco
作者单位：Universidade Nova de Lisboa
摘要：This article shows that entrepreneurial human capital is a key driver of firm dynamics using administrative panel data on the universe of firms and workers in Portugal. Firms started by more educated entrepreneurs are larger at entry and exhibit higher life cycle growth. Consistent with an effect on growth, the thickness of the right tail of the size distribution increases with entrepreneur schooling. The evidence points to several underlying mechanisms, with technology adoption playing the mo...
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作者：Leister, C. Matthew; Zenou, Yves; Zhou, Junjie
作者单位：Monash University; National University of Singapore
摘要：We study a coordination game among agents in a network. The agents choose whether to take action (e.g. adopting a new technology) in an uncertain environment that yields increasing value in the actions of neighbours. We develop an algorithm that fully partitions the network into communities (coordination sets) within which agents have the same propensity to adopt. Our main finding is that a novel measure of network connectedness, which we term social connectedness, determines the propensity to...
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作者：Achdou, Yves; Han, Jiequn; Lasry, Jean-Michel; Lions, Pierre-Louis; Moll, Benjamin
作者单位：Sorbonne Universite; Universite Paris Cite; Universite PSL; Universite Paris-Dauphine; Universite PSL; College de France; University of London; London School Economics & Political Science
摘要：We recast the Aiyagari-Bewley-Huggett model of income and wealth distribution in continuous time. This workhorse model-as well as heterogeneous agent models more generally-then boils down to a system of partial differential equations, a fact we take advantage of to make two types of contributions. First, a number of new theoretical results: (1) an analytic characterization of the consumption and saving behaviour of the poor, particularly their marginal propensities to consume; (2) a closed-for...
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作者：Adda, Jerome; Dustmann, Christian; Gorlach, Joseph-Simon
作者单位：Bocconi University; Bocconi University; University of London; University College London; University of London; University College London
摘要：This article develops and estimates a dynamic model where individuals differ in ability and location preference to evaluate the mechanisms that affect the evolution of immigrants' careers in conjunction with their re-migration plans. Our analysis highlights a novel form of selective return migration where those who plan to stay longer invest more into skill acquisition, with important implications for the assessment of immigrants' career paths and the estimation of their earnings profiles. Our...
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作者：Dahl, Gordon B.; Felfe, Christina; Frijters, Paul; Rainer, Helmut
作者单位：National Bureau of Economic Research; University of California System; University of California San Diego; Leibniz Association; Ifo Institut; University of Wurzburg; University of London; London School Economics & Political Science; Prince Mohammed Bin Salman College of Business & Entrepreneurship; University of Munich; Leibniz Association; Ifo Institut
摘要：What happens when immigrant girls are given increased opportunities to integrate into the workplace and society, but their parents value more traditional cultural outcomes? We answer this question in the context of a reform which granted automatic birthright citizenship to eligible immigrant children born in Germany after 1 January 2000. Using survey data, we collected from students in 57 schools and comparing those born in the months before vs. after the reform, we find the introduction of bi...
