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作者：Branstetter, Lee; Saggi, Kamal
作者单位：Vanderbilt University; Carnegie Mellon University; Columbia University; Harvard University
摘要：This article develops a North South product cycle model in which innovation, imitation and the flow of foreign direct investment (FDI) are all endogenously determined. In the model, a strengthening of intellectual property right (IPR) protection in the South reduces the rate of imitation and it increases the flow of FDI. Indeed, the increase in FDI more than offsets the decline in the extent of production undertaken by Southern imitators so that the South's share of the global basket of goods ...
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作者：Ellis, Christopher J.; Fender, John
作者单位：University of Birmingham; University of Oregon
摘要：We combine Acemoglu and Robinson's model of the economic origins of democracy with Lohmann's model of political mass protest. This allows us to analyse the economic causes of political regime change based on the microfoundations of revolution. We are able to derive conditions under which democracy arises peacefully, when it occurs only after a revolution and when oligarchy persists. We model these possibilities in a world of asymmetric information, where information cascades are possible, and ...
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作者：Cheron, Arnaud; Hairault, Jean-Olivier; Langot, Francois
作者单位：heSam Universite; Universite Pantheon-Sorbonne; Paris School of Economics; University of Maine System; University of Maine Orono; Universite Catholique de Lille; EDHEC Business School; IZA Institute Labor Economics
摘要：This study examines age-dependent employment protection by extending the theory of equilibrium unemployment to account for a finite working life-time. The potential employment gains related to employment protection are high for older workers. But higher firing taxes for older workers increase job destruction rates for younger generations. Furthermore, when firms cannot ex ante age-direct their search, the impact of each generation of unemployed workers on the average return on vacancies leads ...
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作者：Drelichman, Mauricio; Voth, Hans-Joachim
作者单位：ICREA; Pompeu Fabra University; University of British Columbia; Canadian Institute for Advanced Research (CIFAR); Centre de Recerca en Economia Internacional (CREI)
摘要：What sustained borrowing without third-party enforcement in the early days of sovereign lending? Philip II of Spain accumulated towering debts while stopping all payments to his lenders four times. How could the sovereign borrow much and default often? We argue that bankers ability to cut off Philip IIs access to smoothing services was key. A form of syndicated lending created cohesion among his Genoese bankers. As a result, lending moratoria were sustained through a cheat-the-cheater mechanis...
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作者：Milani, Fabio
作者单位：University of California System; University of California Irvine
摘要：Psychological factors, market sentiments and less-than-fully-rational shifts in beliefs are widely believed to play a role in the economy. Yet, they are rarely considered in macroeconomic models. This article evaluates the empirical role of expectational shocks on business cycle fluctuations and relaxes the rational expectations assumption to exploit survey data on expectations in the estimation of a New Keynesian model, which allows for learning by economic agents. Expectation shocks affect t...
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作者：Hoff, Karla; Kshetramade, Mayuresh; Fehr, Ernst
作者单位：University of Zurich; The World Bank
摘要：Well-functioning groups enforce social norms that restrain opportunism. We study how the assignment to the top or bottom of the caste system affects the altruistic punishment of norm violations. Individuals at the bottom of the hierarchy exhibit a much lower willingness to punish norm violations that hurt members of their own caste. We can rule out self-selection into castes and control for wealth, education and political experience. We thus plausibly identify the impact of caste status on alt...
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作者：Arnold, Jens Matthias; Brys, Bert; Heady, Christopher; Johansson, Asa; Schwellnus, Cyrille; Vartia, Laura
作者单位：University of Kent
摘要：This article identifies tax policy that both speeds recovery from the current economic crisis and contributes to long-run growth. This is a challenge because short-term recovery requires increases in demand while long-term growth requires increases in supply. As short-term tax concessions can be hard to reverse, this implies that policies to alleviate the crisis could compromise long-run growth. The analysis makes use of recent evidence on the impact of tax structure on economic growth to iden...
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作者：Abramitzky, Ran; Einav, Liran; Rigbi, Oren
作者单位：Stanford University; National Bureau of Economic Research
摘要：We use individual-level survey and county-level expenditure data to examine the extent to which Hanukkah celebrations among US Jews are driven by the presence of Christmas. We document that Jews with young children are more likely to celebrate Hanukkah, that this effect is greater for reform Jews and for strongly-identified Jews, and that Jewish-related expenditure on Hanukkah is higher in counties with lower shares of Jews. All these findings are consistent with the hypothesis that celebratio...
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作者：Feve, Patrick; Matheron, Julien; Sahuc, Jean-Guillaume
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Universite PSL; Universite Paris-Dauphine
摘要：The euro area as a whole has experienced a marked downward trend in inflation over the past decades and, concomitantly, a protracted period of depressed activity. Can permanent and gradual shifts in monetary policy be held responsible for these dynamics? To answer this question, we embed serially correlated changes in the inflation target into a DSGE model with real and nominal frictions. The formal Bayesian estimation of the model suggests that gradual changes in the inflation target have pla...
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作者：Brueckner, Markus
作者单位：Pompeu Fabra University
摘要：Does an expansion of the population size expose nation states to a higher risk of suffering from civil conflict? Obtaining empirical evidence for a causal relationship is difficult due to reverse effects and omitted variable bias. This article addresses causality issues by using randomly occurring drought as an instrumental variable to generate exogenous variation in population size for a panel of 37 Sub-Saharan countries over the period 1981-2004. Instrumental variable estimates yield that a ...
