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作者：Dewatripont, Mathias
作者单位：Universite Libre de Bruxelles
摘要：This paper discusses the introduction of incentive considerations in a model of costly communication. It starts from a simplified version of a team-theoretic model due to Dessein and Santos (2003), which relates the design of an organization to its adaptiveness to environmental uncertainty. Incentives are introduced in this setting, following an approach developed by Dewatripont and Tirole (2005). Doing so enriches the analysis by allowing for the coexistence of various forms of communication,...
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作者：Friebel, Guido; Guriev, Sergei
作者单位：New Economic School
摘要：We introduce financial constraints in a theoretical analysis of illegal immigration. Intermediaries finance the migration costs of wealth-constrained migrants, who enter temporary servitude contracts to repay the debt. These debt/labor contracts are easier to enforce in the illegal than in the legal sector of the host country. Hence, when moving from the illegal to the legal sector becomes more costly-for instance, because of stricter deportation policies-fewer immigrants default on debt. This...
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作者：Alesina, Alberto; Wagner, Alexander F.
作者单位：Harvard University; University of Zurich
摘要：We use data on announced and actual exchange rate arrangements to ask which countries follow de facto regimes different from their de iure ones, that is, do not do what they say. Our results suggest that countries with poor institutional quality have difficulty in maintaining pegging and abandon it often. In contrast, many countries with relatively good institutions display fear of floating, that is, they manage more than announced, perhaps to signal their differences from those countries inca...
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作者：Doepke, Matthias; Schneider, Martin
作者单位：University of California System; University of California Los Angeles; New York University; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：This paper shows that a zero-sum redistribution of wealth within a country can have persistent aggregate effects. Motivated by the case of an unanticipated inflation episode, we consider redistribution shocks that shift resources from old to young households. Aggregate effects arise because there are asymmetries in the reaction of winners and losers to changes in wealth. We focus on two sources of asymmetries: Differences in the average age of winners and losers, and differences in their labor...
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作者：Arevalo, Raquel; Ruiz-Castillo, Javier
作者单位：Universidade de Vigo; Universidad Carlos III de Madrid
摘要：This paper challenges the usual objections to the possibility of applying the rental equivalent approach to determine the weight that nonrental housing services should have in the Consumer Price Index (CPI). Using data from two Spanish household budget surveys, it is shown that market rents can be well represented in terms of an index of housing quality, two geographical variables, and the year of occupancy. This parsimonious empirical model is used to impute a rental value to nomental housing...
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作者：Tervio, Marko
作者单位：University of California System; University of California Berkeley
摘要：This paper studies the role of transfer fees in professional sports, where players can commit to binding long-term contracts. They cannot switch clubs before their contract expires unless the old club agrees to let them go; the transfer fee is the price of that agreement. Transfer fees have been defended as a necessary incentive for clubs to invest in training their young players. The apparent absence of significant training costs (compared to the level of transfer fees) has undermined this de...
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作者：Abramovsky, Laura; Griffith, Rachel
摘要：This paper considers the impact that information and communication technology (ICT) has on firms' choices over organisational form. In particular, the decision over whether to produce in-house or outsource services, and the decision over the location of activity. ICT reduces the transaction and adjustment costs of moving activity outside the firm, and of carrying it but at greater geographic distance. We find that more ICT-intensive firms purchase a greater amount of services on the market and...
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作者：Attanasio, O; Sánchez-Marcos, V; Low, H
作者单位：University of London; University College London; Universidad de Cantabria
摘要：In this paper, we explore the role of female labor supply as an insurance mechanism against idiosyncratic earnings risk within the family. We use a life-cycle model in which a unitary family makes consumption, saving, and labor supply decisions. Additional uncertainty increases female participation rates. This effect on participation is greatest when the ability to borrow (and hence to smooth consumption) is limited. We calculate the welfare cost of increases in uncertainty and show that the w...
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作者：Doepke, M; Zilibotti, F
作者单位：University of California System; University of California Los Angeles; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：One of the key social transformations that accompanied the British Industrial Revolution was the economic decline of the aristocracy. Standard theories of wealth inequality cannot explain why the aristocrats, in spite of their superior wealth and education, failed to be the main protagonists and beneficiaries of industrialization. We discuss recent research based on a model of endogenous preferences that is consistent with the demise of aristocracy.
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作者：Vega-Redondo, F; Marsili, M; Slanina, F
作者单位：Universitat d'Alacant; University of Essex; Abdus Salam International Centre for Theoretical Physics (ICTP); Czech Academy of Sciences; Institute of Physics of the Czech Academy of Sciences
摘要：The paper discusses the important role of clustering in the evolution of social networks, as it affects not only the incentives of players to cooperate but also their ability to search for fresh opportunities. Depending on the volatility of the environment and the social convention in place, we show that network clustering endogenously adapts to achieve and maintain, to the extent possible, a state of high social connectivity in the long run.
