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作者：Leblebicioglu, Asli; Weinberger, Ariel
作者单位：City University of New York (CUNY) System; Baruch College (CUNY); George Washington University
摘要：We investigate the role of credit markets as a cause for changes in the US labour share. Causal evidence is provided that the labour share declined between 0.8 and 1.2 percentage points following the interstate banking deregulation, explaining more than half of the overall reduction during that period. The lower costs of credit and greater bank competition in each state are mechanisms that led to the decline. To quantify the relationship between credit and factor payments, we calibrate a model...
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作者：Clark, Andrew E.; Doyle, Orla; Stancanelli, Elena
作者单位：University College Dublin; Paris School of Economics; Centre National de la Recherche Scientifique (CNRS)
摘要：A growing literature has concluded that terrorism affects the economy, yet less is known about its impact on individual welfare. This article estimates the impact of the 2013 Boston marathon bombing on well-being, exploiting representative daily data from the American Time Use Survey and Well-Being Supplement. Using a combined regression discontinuity and differences-in-differences design, with the 2012 Boston marathon as a counterfactual, we find an immediate reduction in well-being of a thir...
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作者：Anderson, James E.; Larch, Mario; Yotov, Yoto, V
作者单位：Boston College; National Bureau of Economic Research; University of Bayreuth; Leibniz Association; Ifo Institut; University of Nottingham; Drexel University
摘要：We build and estimate a structural model of transitional growth and trade in a many-country world. The gravity model of trade is combined with a capital accumulation mechanism driving transition between steady states. Trade affects growth through changes in consumer and producer prices. Simultaneously, capital accumulation affects trade directly through changes in country size and indirectly through changes in the incidence of trade costs. Theory maps to an econometric system that identifies t...
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作者：da Fonseca, Mariana Lopes
作者单位：University of St Gallen; Max Planck Society
摘要：I use the introduction of mayoral term limits in Portugal to identify how an exogenous variation in eligibility for office affects policy decisions. Relying on a quasi-experimental difference-in-differences approach, I find that term-limited incumbents pursue more conservative fiscal policies than those who are eligible for re-election. Heterogeneous effects show that the treatment effects primarily reflect the behaviour of right-leaning, term-limited incumbents. Results are in line with a mod...
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作者：Bo, Inacio; Hakimov, Rustamdjan
作者单位：University of York - UK; University of Lausanne
摘要：We test experimentally the Gale-Shapley Deferred Acceptance mechanism versus two versions of the Iterative Deferred Acceptance Mechanism, in which students make applications one at a time. A significantly higher proportion of stable outcomes is reached under Iterative Deferred Acceptance Mechanism than under Deferred Acceptance. The difference can be explained by a higher proportion of subjects following an equilibrium truthful strategy under iterative mechanisms than the dominant strategy of ...
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作者：Jiao, Peiran
作者单位：Maastricht University; Maastricht University
摘要：Heterogeneous beliefs often arise among people with the same information but different personally experienced payoffs. To explain this, I propose a mechanism in which experienced payoffs distort beliefs: gains lead an agent to relatively underweight negative new signals and thus to become overoptimistic, whereas losses do the opposite. I experimentally test this mechanism and find behaviour consistent with its predictions. The experiment created a setting where payoffs carried no informational...
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作者：Hahn, Youjin; Islam, Asadul; Patacchini, Eleonora; Zenou, Yves
作者单位：Yonsei University; Monash University; Cornell University; Center for Economic & Policy Research (CEPR); Monash University
摘要：We randomly assigned 115 primary schools in Bangladesh to one of two settings: children studying in groups with friends and children studying in groups with peers. The groups consisted of four people with similar average cognitive abilities and household characteristics. While the achievement of male students was not affected by the group assignment, low-ability females with friends outperformed low-ability females working with peers by roughly 0.4 standard deviations of the test score distrib...
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作者：Hett, Florian; Mechtel, Mario; Kroll, Markus
作者单位：Johannes Gutenberg University of Mainz; Leuphana University Luneburg; Goethe University Frankfurt
摘要：A large body of evidence shows that social identity affects behaviour. However, our understanding of the substantial variation of these behavioural effects is still limited. We use a novel laboratory experiment to measure differences in preferences for social identities as a potential source of behavioural heterogeneity. Facing a trade-off between monetary payments and belonging to different groups, individuals are willing to forego significant earnings to avoid belonging to certain groups. We...
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作者：Clymo, Alex; Lanteri, Andrea
作者单位：University of Essex; Duke University
摘要：We propose a theory of optimal fiscal policy with 'Limited-Time Commitment'. In our framework, successive governments have commitment only over finite, overlapping horizons. We first show that key results in the 'Full Commitment' literature can often be sustained with a single period of commitment. We then solve a calibrated model in which 'Limited-Time Commitment' fails to implement the 'Full Commitment' policy, and find that one year (three years) of commitment recovers one-third (two-thirds...
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作者：Herresthal, Claudia
作者单位：University of Bonn
摘要：I study students' inferences about school quality from performance-based rankings in a dynamic setting. Schools differ in location and unobserved quality; students differ in location and ability. Short-lived students observe a school ranking as a signal about schools' relative qualities, but this signal also depends on the abilities of schools' past intakes. Students apply to schools, trading off expected quality against proximity. Oversubscribed schools select applicants based on an admission...
