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作者：Chen, Zhiwu; Ma, Chicheng; Sinclair, Andrew J.
作者单位：University of Hong Kong
摘要：Over the past millennium, China has relied on the Confucian clan to achieve interpersonal cooperation, focusing on kinship and neglecting the development of impersonal institutions needed for external finance. In this paper, we test the hypothesis that the Confucian clan and financial markets are competing substitutes. Using the large cross-regional variation in the adoption of modern banks, we find that regions with historically stronger Confucian clans established significantly fewer modern ...
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作者：Rexer, Jonah M.
作者单位：Princeton University
摘要：Marriage markets in rural Nigeria are characterised by bride price and polygamy. These customs may diminish marriage prospects for young men, causing them to join militant groups. Using an instrumental variables strategy, I find that marriage inequality increases civil conflict in the Boko Haram insurgency. To generate exogenous shocks to the marriage market, I exploit the fact that young women delay marriage in response to favourable pre-marital economic conditions, which increases marriage i...
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作者：Bassi, Vittorio; Nansamba, Aisha
作者单位：University of Southern California
摘要：We study how employers and job seekers respond to credible information on skills that are difficult to observe, and how this affects matching in the labour market. We experimentally vary whether certificates on workers' non-cognitive skills are disclosed to both sides of the market during job interviews between young workers and small firms in Uganda. The certificates cause workers to increase their labour market expectations, while high-ability managers revise their assessments of the workers...
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作者：Cattan, Sarah; Kamhoefer, Daniel A.; Karlsson, Martin; Nilsson, Therese
作者单位：University of London; London School Economics & Political Science; IZA Institute Labor Economics; Heinrich Heine University Dusseldorf; University of Duisburg Essen; Lund University; Research Institute of Industrial Economics (IFN)
摘要：Despite the relatively uncontested importance of promoting school attendance in the policy arena, little evidence exists on the causal effect of school absence on long-run outcomes. We address this question by combining historical and administrative records for cohorts of Swedish individuals born in the 1930s. We find that elementary school absence significantly reduces contemporaneous academic performance, final educational attainment and labour income throughout the life cycle. The findings ...
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作者：Layy, Victor; Sand, Edith; Shayo, Moses
作者单位：University of Warwick; Hebrew University of Jerusalem; National Bureau of Economic Research; Bank of Israel; Hebrew University of Jerusalem; University of London; King's College London
摘要：While religions frequently preach preferential treatment of fellow believers, the magnitude and economic implications of religiosity-based discrimination are largely unknown. Religiosity is often confounded with ethnicity, but it varies even within ethnicities and religious denominations. It is also seldom observed in administrative data. This paper exploits a setting that avoids these limitations. We analyse grading decisions in national matriculation exams in Israel, exploiting unique featur...
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作者：Ascari, Guido; Haber, Timo
作者单位：University of Oxford; University of Pavia; University of Cambridge
摘要：A sticky price theory of the transmission mechanism of monetary policy shocks based on state-dependent pricing yields two testable implications that do not hold in time-dependent models. First, large monetary policy shocks should yield proportionally larger initial responses of the price level. Second, in a high trend inflation regime, the response of the price level to monetary policy shocks should be larger and real effects smaller. Our analysis provides evidence supporting these non-linear ...
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作者：Dippel, Christian; Gold, Robert; Heblich, Stephan; Pinto, Rodrigo
作者单位：National Bureau of Economic Research; Leibniz Association; Ifo Institut; University of Toronto; IZA Institute Labor Economics; Leibniz Association; Ifo Institut; University of London; London School Economics & Political Science; University of California System; University of California Los Angeles
摘要：We investigate economic causes of the rising support of populist parties in industrialised countries. Looking at Germany, we find that exposure to imports from low-wage countries increases the support for nationalist parties between 1987-2009, while increasing exports have the opposite effect. The net effect translates into increasing support of the right-populist Alternative for Germany party after its emergence in 2013. Individual data from the German Socio-Economic Panel reveal that low-ski...
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作者：Boneva, Lena; Elliott, David; Kaminska, Iryna; Linton, Oliver; McLaren, Nick; Morley, Ben
作者单位：Bank of England
摘要：There is substantial uncertainty about the impact of quantitative easing on market liquidity. Identifying the impact is particularly challenging due to the potential for reverse causality, because liquidity considerations might affect quantitative easing purchases. We address this challenge by studying the Bank of England's 2016-7 Corporate Bond Purchase Scheme. In particular, we use granular offer-level data from the Corporate Bond Purchase Scheme auctions to construct proxy measures for the ...
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作者：Schmitz, Patrick W.
作者单位：University of Cologne; Centre for Economic Policy Research - UK
摘要：A buyer wants to purchase an innovative good from a seller. Both parties are risk-neutral, and payments from the buyer to the seller must be non-negative. After the contract is signed, the seller privately observes a signal which may be informative about the seller's costs. We compare two contracting regimes. In the case of specific performance, the courts enforce the contractually specified trade level. In the case of at-will contracting, the seller is free to walk away from the contract afte...
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作者：Cappelen, Alexander W.; Mollerstrom, Johanna; Reme, Bjorn-Atle; Tungodden, Bertil
作者单位：Norwegian School of Economics (NHH); George Mason University; Research Institute of Industrial Economics (IFN); Norwegian Institute of Public Health (NIPH); Norwegian School of Economics (NHH)
摘要：We report from a study of how uncertainty about whether a given inequality reflects performance or luck shapes distributive behaviour. We show theoretically that the reaction to uncertainty depends on how people trade-off the probability of making a mistake when redistributing, and the size of this mistake. We show experimentally that uncertainty causes a strong egalitarian pull among a majority of meritocratic individuals. The theoretical framework and the experimental results are supported i...
