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作者：Caggiano, Giovanni; Castelnuovo, Efrem; Colombo, Valentina; Nodari, Gabriela
作者单位：University of Padua; University of Melbourne; University of Verona; University of New South Wales Sydney
摘要：We estimate non-linear VARs to assess to what extent fiscal spending multipliers are countercyclical in the US. We deal with the issue of non-fundamentalness due to fiscal foresight by appealing to sums of revisions of expectations of fiscal expenditures. This measure of anticipated fiscal shocks is shown to carry valuable information about future dynamics of public spending. Results based on generalised impulse responses suggest that fiscal spending multipliers in recessions are greater than ...
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作者：Attanasio, Orazio P.
作者单位：University of London; University College London; National Bureau of Economic Research
摘要：Ramsey, F.P. (1928). A mathematical theory of saving', Economic Journal, vol. 38(152), pp. 543-59.
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作者：Cohen, Wesley M.; Levinthal, Daniel A.
作者单位：Carnegie Mellon University
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作者：Stiglitz, Joseph E.
作者单位：Columbia University
摘要：Ramsey, F.P. (1927). A contribution to the theory of taxation', Economic Journal, vol. 37(145), pp. 47-61.
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作者：Rivkin, Steven G.; Schiman, Jeffrey C.
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; University of Texas System; University of Texas Dallas; National Bureau of Economic Research
摘要：It seems likely the magnitude of any causal link between achievement and instruction time depends upon the quality of instruction, the classroom environment and the rate that students translate classroom time into added knowledge. In this article, we use panel data methods to investigate instruction time effects in the 2009 Programme for International Student Assessment data. The empirical analysis shows that achievement increases with instruction time and that the increase varies by both the ...
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作者：Boeri, Tito; De Philippis, Marta; Patacchini, Eleonora; Pellizzari, Michele
作者单位：Bocconi University; IZA Institute Labor Economics; Cornell University; IZA Institute Labor Economics; University of Geneva
摘要：We use a new data set on Italy and a novel identification strategy to analyse the relationship between migrants' employment status and the percentage of non-Italians living nearby. Our data contain information at the very local level and are representative of both legal and illegal migrants. Identification exploits the physical characteristics of local buildings as a source of exogenous variation in the incidence of migrants. We find that migrants residing in more immigrant-dense areas are les...
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作者：Mastrobuoni, Giovanni
作者单位：Collegio Carlo Alberto; University of Essex
摘要：This study uses declassified data on US mafia members of the 1950s and 1960s to estimate the criminal network effect on their economic status. I measure economic status exploiting detailed information about their place of residence. Housing values are reconstructed using current deflated transactions data. I deal with non-random sampling of mobsters modelling investigations on connections as Markov chains. Reverse causality between economic status and the gangster's position in the network is ...
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作者：Smith, Sarah; Windmeijer, Frank; Wright, Edmund
作者单位：University of Bristol; University of London; University College London
摘要：There is a widespread belief that peer effects are important in charitable giving but little evidence on how donors respond to their peers. Analysing a unique data set of donations to online fund-raising pages, we find positive and sizeable peer effects: a 10 pound increase in the mean of past donations increases giving by 2.50 pound, on average. Donations respond to both very large and very small amounts and to changes in the mode. We find little evidence that donations signal charity quality...
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作者：Passari, Evgenia; Rey, Helene
作者单位：Universite PSL; Universite Paris-Dauphine; University of London; London Business School; Centre for Economic Policy Research - UK; National Bureau of Economic Research
摘要：We review the findings of the literature on the benefits of international financial flows and find that they are quantitatively elusive. We then present evidence on the existence of a global cycle in gross cross-border flows, asset prices and leverage and discuss its impact on monetary policy autonomy across different exchange rate regimes. We focus in particular on the effect of US monetary policy shocks on the UK's financial conditions.
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作者：Fratzscher, Marcel; Mehl, Arnaud
作者单位：Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; Humboldt University of Berlin; Centre for Economic Policy Research - UK; European Central Bank
摘要：This study assesses whether the international monetary system is already tri-polar by testing what we call China's 'dominance hypothesis', i.e. whether the renminbi already influences exchange rate and monetary policies strongly in Asia, a direct reference to the old 'German dominance hypothesis' which ascribed to the German mark a dominant role in Europe in the 1980s. Using a global factor model of exchange rates and a complementary event study, we find evidence that the renminbi has become a...
