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作者：MacLeod, W. Bentley; Nakavachara, Voraprapa
作者单位：Columbia University; IZA Institute Labor Economics; University of Southern California
摘要：The extent of government in private contractual relationships is a vexing public policy issue. This article explores, both theoretically and empirically, the degree to which such intervention may enhance employment. Economists traditionally have held that interventions such as wrongful discharge protections simply undo the original intent of the parties to an employment contract. We find that both good faith as well as implied contract exceptions to employment-at-will may enhance employment, p...
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作者：Aslund, Olof; Rooth, Dan-Olof
摘要：This article investigates the long-term effects on immigrant earnings and employment of labour market conditions encountered upon arrival. We find that early earnings assimilation depends crucially on a favourable national labour market. Exposure to high local unemployment rates also affects individuals for at least ten years. To handle the issue of selective migration, we compare refugees entering Sweden during a severe and unexpected recession to refugees arriving during a preceding economic...
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作者：Karlan, Dean S.
作者单位：Yale University
摘要：Lending to the poor is expensive due to high screening, monitoring and enforcement costs. Group lending advocates believe lenders overcome this by harnessing social connections. Using data from FINCA-Peru, I exploit a quasi-random group formation process to find evidence of peers successfully monitoring and enforcing joint-liability loans. Individuals with stronger social connections to their fellow group members (i.e., either living closer or being of a similar culture) have higher repayment ...
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作者：Cahuc, Pierre; Koeniger, Winfried
作者单位：heSam Universite; Universite Pantheon-Sorbonne; University of Bonn; IZA Institute Labor Economics
摘要：Employment protection legislation (EPL) is an important labour market policy whose strictness differs greatly across OECD countries. The collection of articles in this Feature provides new theoretical and empirical results which highlight the impact of EPL on productivity, job and firm turnover, (un)employment and the incidence of temporary contracts. Importantly, the effect of EPL is shown to differ across types of workers and firms. This yields new insights on the incentives for labour marke...
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作者：Adam, Klaus
作者单位：Centre for Economic Policy Research - UK
摘要：This article presents experimental evidence from a monetary sticky price economy in which output and inflation depend on expected future inflation. Rational inflation expectations do not allow for persistent deviations of output and inflation following a monetary shock. In the experimental sessions, however, output and inflation display considerable persistence and regular cyclical patterns. This emerges because subjects' inflation expectations fail to be captured by rational expectations func...
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作者：Jacobsson, Fredric; Johannesson, Magnus; Borgquist, Lars
作者单位：Linkoping University; Stockholm School of Economics
摘要：We test if altruism is paternalistic with respect to health. Subjects can donate money or nicotine patches to a smoking diabetes patient whose willingness to pay for nicotine patches is positive but below the market price. In a between-subjects treatment, average donations are 40% greater in the nicotine patches group. When subjects can donate both nicotine patches and money more than 90% of the donations are given in kind rather than cash. These results are also confirmed in three additional ...
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作者：Bratsberg, Bernt; Roed, Knut; Raaum, Oddbjorn; Naylor, Robin; Jantti, Markus; Eriksson, Tor; Osterbacka, Eva
作者单位：University of Warwick; Abo Akademi University; Aarhus University
摘要：We show that the patterns of intergenerational earnings mobility in Denmark, Finland and Norway, unlike those for the US and the UK, are highly nonlinear. The Nordic relationship between log earnings of sons and fathers is flat in the lower segments of the fathers' earnings distribution - sons growing up in the poorest households have the same adult earnings prospects as sons in moderately poor households - and is increasingly positive in middle and upper segments. This convex pattern contrast...
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作者：Rosenkranz, Stephanie; Schmitz, Patrick W.
作者单位：Utrecht University; Centre for Economic Policy Research - UK; University of Cologne
摘要：We consider second-price and first-price auctions in the symmetric independent private values framework. We modify the standard model by the assumption that the bidders have reference-based utility, where a publicly announced reserve price has some influence on the reference point. It turns out that the seller's optimal reserve price increases with the number of bidders. Also in contrast to the standard model, we find that secret reserve prices can outperform public reserve prices, and that se...
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作者：Webb, David C.
作者单位：University of London; London School Economics & Political Science
摘要：This article presents a model of the interaction of a company's financial and real investment decisions with the financing of its defined benefit pension plan. The pension plan deficit is a debt of the company, with explicit funding requirements and priority in the event of company insolvency. Pension plan deficits and options on future deficits and surpluses affect investment incentives as does the size and composition of company debt. We examine incentives for the firm to pay dividends rathe...
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作者：Devicienti, Francesco; Maida, Agata; Sestito, Paolo
作者单位：University of Turin; Collegio Carlo Alberto
摘要：Using the 1985-99 WHIP data, we find a sizable amount of downward wage rigidity in Italy, with a prevalence of real over nominal rigidity. The results hold when real rigidity is identified either with reference to collective bargaining dispositions or to price inflation. Consistently with the labour market reforms of the early 1990s, downward rigidities have become less important over time, with the reduction in real rigidities more than offsetting the rise in nominal rigidities. We also find ...
