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作者：Binzel, Christine; Carvalho, Jean-Paul
作者单位：Ruprecht Karls University Heidelberg; IZA Institute Labor Economics; University of California System; University of California Irvine
摘要：Muslim societies have been reshaped in recent decades by an Islamic revival. We document a contemporaneous decline in social mobility among educated youth in Egypt, the epicentre of the movement in the Arab world. We then develop a model to show how an unexpected decline in social mobility combined with inequality can produce a religious revival led by the educated middle class. The principal idea is that religion helps individuals to cope with unfulfilled aspirations by adjusting their expect...
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作者：Pagnozzi, Marco; Saral, Krista J.
作者单位：University of Naples Federico II
摘要：We analyse the effects of different resale mechanisms on bidders' strategies in multi-object uniform-price auctions with asymmetric bidders. Our experiment consists of four treatments: one without resale and three resale treatments that vary the information available and the bargaining mechanism in the resale market. Resale markets induce demand reduction by high-value bidders and speculation by low-value bidders, thus affecting the allocation of the objects on sale. The magnitude of these eff...
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作者：Ioannidis, John P. A.; Stanley, T. D.; Doucouliagos, Hristos
作者单位：Stanford University; Deakin University
摘要：We investigate two critical dimensions of the credibility of empirical economics research: statistical power and bias. We survey 159 empirical economics literatures that draw upon 64,076 estimates of economic parameters reported in more than 6,700 empirical studies. Half of the research areas have nearly 90% of their results under-powered. The median statistical power is 18%, or less. A simple weighted average of those reported results that are adequately powered (power >= 80%) reveals that ne...
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作者：Willems, Tim
作者单位：International Monetary Fund
摘要：This article presents a model of a rational seller who is actively learning the slope of his demand curve via his pricing strategy. Consequently, this seller optimally experiments with his price. Resulting price patterns show a tendency for discreteness (as observed in the data), which has proved to be a major challenge to most price setting models. The experimentation motive can also replicate the observation that prices are more volatile than costs, as well as the presence of many idiosyncra...
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作者：Stueber, Heiko
作者单位：University of Erlangen Nuremberg
摘要：Several recent macroeconomic models assume that real wages are rigid. The wage rigidity of newly hired workers assumes a crucial role in these models, as the decision of whether to open a vacancy is primarily influenced by real hiring wages. This article analyses the cyclical behaviour of real wages in Germany. It considers recent concerns that not controlling for cyclical job up and downgrading leads to biased results. The results indicate that wages are not rigid - neither for all workers no...
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作者：Fan, Haichao; Gao, Xiang
作者单位：Fudan University; Shanghai University of Finance & Economics
摘要：This article unbundles institutions protecting domestic and foreign creditors' rights. We estimate a negative relation between the degree of domestic rights protection and the external stock of private non-guaranteed debt in 85 developing countries. A supply-side explanation is that strong domestic protection supports reliable outside financing options for potential external debt defaulters; foreign investors anticipating this would tighten credit constraints ex ante. Then we formalise the arg...
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作者：Bertoletti, Paolo; Etro, Federico
作者单位：University of Pavia; Universita Ca Foscari Venezia
摘要：We analyse monopolistic competition when consumers have an indirect utility that is additively separable. This leads to markups depending on income (both in the short and long run) but not on the market size, which generates pricing to market, incomplete pass-through and pure gains from variety for countries that open up to trade. Firms' heterogeneity a la Melitz implies a Darwinian effect of consumers' spending on business creation and a Linderian effect on (endogenous) quality provision. We ...
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作者：Osotimehin, Sophie; Pappada, Francesco
作者单位：University of Virginia; European Central Bank; Bank of France
摘要：Recessions are conventionally considered as times when the least productive firms are driven out of the market. How do credit frictions affect this cleansing effect of recessions? We build and calibrate a model of firm dynamics with credit frictions and endogenous entry and exit to investigate this question. We find that there is a cleansing effect of recessions in the presence of credit frictions, despite their effect on the selection of exiting and entering firms. This result holds true rega...
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作者：Bag, Parimal Kanti; Saha, Bibhas
作者单位：National University of Singapore
摘要：Illegal betting in a two-team sports contest is studied with player sabotage instigated by a monopolist bookmaker. Whereas punters hold beliefs about the teams' winning chances correlated with Nature's draw, the bookmaker's information is noise-free. Enforcement investigates with a higher probability, the greater the upset. In such an environment, if punters do not suspect match-fixing, the favourite is bribed, thus creating upsets and intensifying subsequent investigations. Match-fixing conti...
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作者：Oosterlinck, Kim
作者单位：Universite Libre de Bruxelles; Solvay SA; Center for Economic & Policy Research (CEPR)
摘要：During World War II, artworks significantly outperformed all alternative investments in Occupied France. With the surge in demand for portable and easy-to-hide (discreet) assets such as artworks and collectible stamps, prices boomed. This suggests that discreet assets may be viewed as crypto-currencies, demand for which varies depending on the environment and the need to hide value. Regarding art market valuation, this article argues that while some economic actors derive significant utility f...
