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作者：Brunello, Giorgio; Weber, Guglielmo; Weiss, Christoph T.
作者单位：University of Padua; IZA Institute Labor Economics; University of Padua; University of Padua
摘要：We estimate the effect of education on lifetime earnings by distinguishing between individuals who lived in rural or urban areas during childhood and between individuals with access to many or few books at home at age 10. We instrument years of education using compulsory school reforms and find that, whereas individuals in rural areas were most affected by the reforms, those with many books enjoyed substantially higher returns to their additional education. We show that books retain explanator...
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作者：Geys, Benny
作者单位：BI Norwegian Business School
摘要：This article focuses on political dynasties' potential consequences, and particularly investigates whether and when they lead to the selection of dynastic politicians with relatively lower education levels. I exploit the different electoral constraints faced by distinct subsets of Italian local politicians to identify whether weaker constraints on political selection processes induce the selection of dynastic politicians with lower education levels relative to their non-dynastic peers. The ana...
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作者：Chiappori, Pierre-Andre; Iyigun, Murat; Lafortune, Jeanne; Weiss, Yoram
作者单位：Columbia University; University of Colorado System; University of Colorado Boulder; IZA Institute Labor Economics; Pontificia Universidad Catolica de Chile; Tel Aviv University
摘要：This article analyses the effect of a reform granting alimony rights to cohabiting couples in Canada. A collective household model with a matching framework predicts that changes in alimony laws would affect existing couples and couples-to-be differently. For existing couples, it benefits the intended beneficiary but, for couples not yet formed, it generates offsetting intra-household transfers and lower intra-marital allocations for the beneficiary. Our empirical analyses confirm these predic...
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作者：Chen, Heng; Suen, Wing
作者单位：University of Hong Kong
摘要：We propose a regime change model in which people are uncertain about both the quality of a specific regime and governance in general. The poor perceive the current regime as bad, rationally infer that all governments are bad, and therefore believe mass movements are futile. The middle class are more sanguine about the prospect of good government, and believe that collective action is effective because they expect many fellow citizens to share the same view. This coordination game with incomple...
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作者：Kubler, Felix; Selden, Larry; Wei, Xiao
作者单位：University of Zurich; Swiss Finance Institute (SFI); Columbia University; University of Pennsylvania; Fudan University
摘要：Assuming the classic contingent claim setting, a number of financial asset demand tests of Expected Utility have been developed and implemented in experimental settings. However, the domain of preferences of these asset demand tests differ from the mixture space of distributions assumed in the traditional binary lottery laboratory tests of von Neumann-Morgenstern Expected Utility preferences. We derive new sets of axioms for preferences over contingent claims to be representable by an Expected...
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作者：Clingingsmith, David
作者单位：University System of Ohio; Case Western Reserve University
摘要：Scholars have conjectured that the return to speaking a language increases with the number of speakers. Long-run economic and political integration would accentuate this advantage, increasing the population share of the largest languages. I show that, to the contrary, language size and growth are uncorrelated except for very small languages (< 35,000 speakers). I develop a model of local language coordination over a network. The steady-state distribution of language sizes follows a power law a...
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作者：Karp, Larry
作者单位：University of California System; University of California Berkeley
摘要：Because carbon emissions create externalities across countries and generations, climate policy requires international cooperation and intergenerational altruism. A differential game using overlapping generations with intergenerational altruism shows how altruism and cooperation interact, and provides estimates of their relative importance in determining equilibrium steady-state carbon levels. A small increase in cooperation has a larger equilibrium effect than a small increase in altruism, beg...
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作者：Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry
作者单位：University of Pennsylvania; Australian National University; Yale University
摘要：We analyse a model in which agents make investments and match into pairs to create a surplus. The agents can reallocate their pretransfer ownership claims on the surplus. Mailath etal. () showed that when investments are unobservable, equilibrium investments are generally inefficient. We work here with a more structured and tractable model to analyse investment inefficiencies. We provide conditions under which investment is inefficiently high or low and when changes in the pretransfer ownershi...
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作者：Wang, Pengfei; Wen, Yi; Xu, Zhiwei
作者单位：Hong Kong University of Science & Technology; Federal Reserve System - USA; Tsinghua University; Shanghai Jiao Tong University
摘要：This article shows how underdeveloped financial markets in emerging economies can explain the pattern of two-way capital flows between emerging economies ( such as China) and the developed world ( such as the United States). Our calibrated model reproduces China's rising financial capital outflows and FDI inflows as well as its massive trade imbalances in recent decades. Our model also predicts that global trade imbalances may be sustainable even in the long run and the conventional wisdom tha...
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作者：Fetzer, Thiemo; Marden, Samuel
作者单位：University of Warwick; University of Sussex
摘要：Weak property rights are strongly associated with underdevelopment, low state capacity and civil conflict. In economic models of conflict, outbreaks of violence require a prize that is both valuable and contestable. This article exploits spatial and temporal variation in the availability of land with title that is contestable by private actors to explore the relationship between (in)secure property rights and civil conflict in the Brazilian Amazon. The results suggest that resolving this conte...
