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作者：Castello-Climent, Amparo; Chaudhary, Latika; Mukhopadhyay, Abhiroop
作者单位：University of Valencia; United States Department of Defense; United States Navy; Naval Postgraduate School; Indian Statistical Institute
摘要：This article estimates the impact of completed higher education on economic prosperity across Indian districts. To address the endogeneity of higher education, we use the location of Catholic missionaries circa 1911 as an instrument. Catholics constitute a very small share of the population in India and their influence beyond higher education has been limited. Our instrumental variable results find a positive effect of higher education on development, as measured by light density. The results ...
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作者：Ben-Gad, Michael
作者单位：City St Georges, University of London
摘要：I construct an optimal growth model with overlapping dynasties to investigate how much the rate at which an economy absorbs new immigrant dynasties could motivate current voters to favour greater reliance on deficit finance of government expenditures through intertemporal shifts in factor taxation. The model demonstrates that even if voters are altruistically linked to their descendants, rising immigration, coupled with declining birth rates may explain the growth in public debt and unfunded l...
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作者：Bahar, Dany; Rapoport, Hillel
作者单位：Brookings Institution; Paris School of Economics
摘要：The diffusion of tacit knowledge involves direct human interactions. This implies that the international diffusion of knowledge should follow the pattern of international migration. We test this idea using cross-country productivity spillovers leading to new exports as proxy for knowledge diffusion. We find that a 10% increase in immigration from exporters of a given product is associated with a 2% increase in the likelihood that the host country starts exporting that good from scratch' in the...
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作者：Weinzierl, Matthew
作者单位：Harvard University
摘要：This article incorporates into modern optimal tax theory the classical logic of benefit-based taxation in which an individual's benefit from the activities of the state is tied to his or her income-earning ability. First-best optimal policy is characterised analytically as depending on a few potentially estimable statistics. Constrained optimal policy, with a Pareto-efficient objective that trades off this principle and conventional utilitarianism, is simulated using conventional constraints a...
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作者：Cao, Dan
作者单位：Georgetown University
摘要：Under limited commitment that prevents agents from pledging their future non-financial wealth, agents with incorrect beliefs always survive by holding on to their non-financial wealth. Friedman's () market selection hypothesis suggests that their financial wealth trends towards zero in the long run. However, I present a dynamic general equilibrium model with incomplete markets due to collateral constraints and show that the hypothesis depends on the degree of market incompleteness. When market...
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作者：Noton, Carlos; Elberg, Andres
作者单位：Universidad de Chile; University Diego Portales
摘要：Conventional wisdom is that big-box retailers squeeze the profits of small suppliers. Underlying this belief is the assumption that relative market size is the primary source of bargaining leverage. Using actual wholesale prices, we study profit-sharing between large retailers and suppliers of different size. We find that the median supplier earns 42% of the channel surplus, and that some very small suppliers attain a share of the channel surplus close to that of the largest supplier (about 68...
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作者：Azmat, Ghazala; Moeller, Marc
作者单位：University of London; Queen Mary University London; University of Bern
摘要：Do the contests with the largest prizes attract the most able contestants? To what extent do contestants avoid competition? We show that the distribution of abilities is crucial in determining contest choice. Complete sorting exists only when the proportion of high-ability contestants is small. As this proportion increases, high-ability contestants shy away from competition and sorting decreases, making reverse sorting a possibility. We test our theoretical predictions with a large panel data ...
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作者：Dalton, Patricio S.; Ghosal, Sayantan
作者单位：University of Glasgow; Tilburg University
摘要：This article incorporates self-fulfilling mistakes into an otherwise classical decision-making framework. A behavioural agent makes a mistake when he fails to internalise all the consequences of his actions on himself. We show that Sen's axioms and fully characterise choice data consistent with behavioural agents. These two axioms are weaker than Sen's axioms and that fully characterise rational agents. We offer a welfare benchmark that can be applied to existing behavioural economics models a...
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作者：Edwards, Griffin; Nesson, Erik; Robinson, Joshua J.; Vars, Fredrick
作者单位：University of Alabama System; University of Alabama Birmingham; Ball State University
摘要：We exploit within-state variation across time in both the existence and length of statutory delays both explicit wait periods and delays created by licensing requirements - between the purchase and delivery of a firearm to examine the effect of purchase delays on homicides and suicides. We find that the existence of a purchase delay reduces firearm-related suicides by between 2% and 5% with no statistically significant increase in non-firearm suicides. Purchase delays are not associated with s...
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作者：Solon, Gary
作者单位：University of Arizona
摘要：Multigenerational mobility' refers to the associations in socio-economic status across three or more generations. This article begins by summarising the long-standing but recently growing empirical literature on multigenerational mobility. It then discusses multiple theoretical interpretations of the empirical patterns, including the one recently proposed in Gregory Clark's book The Son Also Rises.
