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作者：Ozbilgin, H. Murat
作者单位：Prime Ministry Turkey; Central Bank of the Republic of Turkey
摘要：I explore the implications of limited participation in financial markets on a standard small open economy business cycle model. Despite its parsimony, the limited participation model developed in this paper improves over the standard model in terms of explaining two important features of business cycle facts of developing countries: high volatility of consumption, and high negative correlation between the trade balance and output. Limited participation model is then used to inspect the effects...
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作者：Baisa, Brian; Davis, Lucas W.; Salant, Stephen W.; Wilcox, William
作者单位：University of Michigan System; University of Michigan
摘要：Throughout the developing world, many water distribution systems are unreliable. As a result, it becomes necessary for each household to store its own water as a hedge against this uncertainty. Since arrivals of water are not synchronized across households, serious distributional inefficiencies arise. We develop a model describing the optimal intertemporal depletion of each household's private water storage if it is uncertain when water will next arrive to replenish supplies. The model is cali...
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作者：Alfaro, Laura; Chanda, Areendam; Kalemli-Ozcan, Sebnem; Sayek, Selin
作者单位：Harvard University; National Bureau of Economic Research; Louisiana State University System; Louisiana State University; University of Houston System; University of Houston; Ihsan Dogramaci Bilkent University
摘要：Do multinational companies generate positive externalities for the host country? The evidence so far is mixed varying from beneficial to detrimental effects of foreign direct investment (FDI) on growth, with many studies that find no effect. In order to provide an explanation for this empirical ambiguity, we formalize a mechanism that emphasizes the role of local financial markets in enabling FDI to promote growth through backward linkages. Using realistic parameter values, we quantify the res...
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作者：Cermeno, Rodolfo; Grier, Robin; Grier, Kevin
作者单位：University of Oklahoma System; University of Oklahoma - Norman; Centro de Investigacion y Docencia Economicas A.C. (CIDE)
摘要：In this paper, we study the link between real exchange rate (RER) depreciation and elections in Latin America. Our contribution is threefold. First, we employ a statistical model that takes into account the pervasive conditional heteroskedasticity found in financial data and includes a wide range of macroeconomic variables as regressors. Second, we test whether the wave of central bank reform that swept the region has had any effect on the existence or strength of the electoral cycle in exchan...
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作者：Yu, Miaojie
作者单位：Peking University
摘要：Does democracy affect trade? There are several channels by which democracy may affect trade, with differing implications. First, democratization in the exporting country can improve product quality and reduce trade costs, increasing bilateral trade. Second, democratization in the importing country may increase trade barriers and thus reduce imports. In this paper, I analyze the effect of democracy on trade by augmenting the gravity equation with democracy. Using a rich panel data set and contr...
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作者：Basu, Kaushik; Das, Sanghamitra; Dutta, Bhaskar
作者单位：Cornell University; Indian Statistical Institute; Indian Statistical Institute Delhi; University of Warwick
摘要：Some studies on child labor have shown that, at the level of the household, greater land wealth leads to higher child labor, thereby casting doubt on the hypothesis that child labor is caused by poverty. This paper argues that the missing ingredient may be an explicit modeling of the labor market. We develop a simple model which suggests the possibility of an inverted-U relationship between land holdings and child labor. Using a unique data set that has child labor hours it is found that, cont...
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作者：Loayza, Norman V.; Raddatz, Claudio
作者单位：The World Bank
摘要：This paper contributes to explain the cross-country heterogeneity of the poverty response to changes in economic growth. It does so by focusing on the structure of output growth itself. The paper presents a two-sector theoretical model that clarifies the mechanism through which the sectoral composition of growth and associated labor intensity can affect workers' wages and, thus, poverty alleviation. Then, it presents cross-country empirical evidence that analyzes, first, the differential pover...
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作者：Lee, Jeong-Joon; Sawada, Yasuyuki
作者单位：University of Tokyo; University System of Maryland; Towson University
摘要：This paper investigates precautionary saving under liquidity constraints in Pakistan using household panel data, In particular, while it estimates Kimball's [Kimball, M.S. Precautionary saving in the small and in the large. Econometrica 1990: 58; 53-73.] prudence parameter based on a framework that is similar to Dynan [Dynan, K.E. How prudent are consumers? journal of Political Economy 1993; 101; 1104-1113.], this study deviates from the framework by explicitly considering liquidity constraint...
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作者：Berman, Nicolas; Hericourt, Jerome
作者单位：Universite de Lille
摘要：Using a large cross-country, firm-level database containing 5000 firms in 9 developing and emerging economies, we study how financial factors affect both firms' export decisions and the amount exported by firms. First, our results highlight the importance of the impact of firms' access to finance on their entry decision into the export market. However, better financial health neither increases the probability of remaining an exporter once the firm has entered, nor the size of exports. Second, ...
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作者：Leonard, Kenneth L.; Masatu, Melkiory C.
作者单位：University System of Maryland; University of Maryland College Park
摘要：Many doctors in developing countries provide considerably lower quality care to their patients than they have been trained to provide. The gap between best possible practice and actual performance (often referred to as the know-do gap) is difficult to measure among doctors who differ in levels of training and experience and who face very different types of patients. we exploit the Hawthorne effect-in which doctors change their behavior when a researcher comes to observe their practices-to meas...
