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作者：Calsamiglia, Caterina; Martinez-Mora, Francisco; Miralles, Antonio
作者单位：University of Leicester; Universidad Publica de Navarra; University of Messina; Autonomous University of Barcelona; Barcelona School of Economics
摘要：We embed the problem of public school choice design in a model of local provision of education. We define cardinal (student) segregation as that emerging when families with identical ordinal preferences submit different rankings of schools in a centralised school choice procedure. With the Boston Mechanism (BM), when higher types are less risk-averse, and there is sufficient vertical differentiation of schools, any equilibrium presents cardinal segregation. Transportation costs facilitate the ...
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作者：Gokmen, Gunes; Nannicini, Tommaso; Onorato, Massimiliano Gaetano; Papageorgiou, Chris
作者单位：Bocconi University; Lund University; Bocconi University; University of Bologna; International Monetary Fund
摘要：It is argued that crises open up a window of opportunity to implement policies that otherwise would not have the necessary political backing. We show that not only is the crises-reforms nexus unfounded in the data, but rather crises are associated with a reversal of liberalisation interventions depending on the institutional environment. We find that, in democratic countries, crises occurrences have no significant impact on liberalisation measures. On the contrary, after a crisis, autocracies ...
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作者：Blanco, Miguel Artola; Bauluz, Luis; Martinez-Toledano, Clara
作者单位：Universidad Carlos III de Madrid; University of Bonn; Imperial College London
摘要：This study reconstructs Spain's national wealth from 1900 to 2017. By combining new sources with existing accounts, we estimate the wealth of both private and government sectors and use a new asset-specific decomposition of the long-run accumulation of wealth. We find that, during the twentieth century, the national wealth-to-income ratio remained within a relatively narrow range-between 400% and 600%-until the housing boom of the early 2000s led to an unprecedented rise to 800% in 2007. Our r...
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作者：Leonard, Bryan; Parker, Dominic P.
作者单位：Arizona State University; Arizona State University-Downtown Phoenix; University of Wisconsin System; University of Wisconsin Madison
摘要：Does land fragmentation impair spatially expansive natural resource use? We conduct empirical tests using ownership variation on the Bakken, one of the world's most valuable shale oil reserves. Long before shale was discovered, US policies created a mosaic of private, jointly owned and tribal government parcels on the Fort Berthold Indian Reservation. We find that all three forms of fragmentation reduced production during the 2010-15 oil boom, especially joint ownership and the interspersion o...
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作者：Cameron, Lisa; Meng, Xin; Zhang, Dandan
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作者：Alesina, Alberto; Giuliano, Paola; Reich, Bryony
作者单位：Harvard University; Bocconi University; University of California System; University of California Los Angeles; Northwestern University
摘要：Democracies and dictatorships have different incentives when it comes to choosing how much and by what means to homogenise the population, i.e., 'to build a nation'. We study and compare nation-building policies under the transition from dictatorship to democracy in a model where the type of government and borders of the country are endogenous. We find that the threat of democratisation provides the strongest incentive to homogenise. We focus upon a specific nation-building policy: mass primar...
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作者：Bloom, Nicholas; Romer, Paul; Terry, Stephen J.; Van Reenen, John
作者单位：Stanford University; National Bureau of Economic Research; New York University; Boston University; Massachusetts Institute of Technology (MIT)
摘要：After a recent increase in Chinese import competition, European firms increased innovation. We present and rationalise these patterns using 'trapped factors' at the micro level within a stylised equilibrium model of product-cycle trade and growth. Trade integration of the magnitude observed between the OECD and low-wage nations as a whole can considerably increase the long-run growth rate and welfare. In the short run exposed firms devote trapped factors to increased innovation, leading both t...
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作者：Gobbi, Paula E.; Goni, Marc
作者单位：Universite Libre de Bruxelles; Centre for Economic Policy Research - UK; Norwegian School of Economics (NHH)
摘要：Using genealogical data of British aristocrats, we show that inheritances can affect childlessness. We study settlements, a contract restricting heirs' powers and settling bequests for yet-to-be-born generations. Settlements reduced childlessness to the 'natural' rate, ensuring aristocratic dynasties' survival. Our estimation exploits that settlements were signed at the heir's wedding if the family head lived until this date. Whether the heir was born after a girl provides as-good-as-random as...
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作者：Roulleau-Pasdeloup, Jordan
作者单位：National University of Singapore
摘要：This paper shows that part of what is usually labelled discretionary government spending actually varies systematically over the cycle. I exploit the pervasive gap between ordinary least squares and two-stage least squares local government spending multipliers to estimate how cyclical the systematic part of government spending is. Estimating a structural open-economy New Keynesian model on United States state-level data, I find that when employment decreases by , the systematic component of go...
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作者：Floden, Martin; Kilstrom, Matilda; Sigurdsson, Josef; Vestman, Roine
作者单位：Stockholm University; Sveriges Riksbank; Stockholm School of Economics; Norwegian School of Economics (NHH)
摘要：We examine the effect of monetary policy on household spending when households are indebted and interest rates on outstanding loans are linked to short-term interest rates. Using administrative data on balance sheets and consumption expenditure of Swedish households, we reveal the cash-flow transmission channel of monetary policy. On average, indebted households reduce consumption spending by an additional 0.23-0.55 percentage points in response to a one-percentage-point increase in the policy...
