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作者：Duflo, E
作者单位：Massachusetts Institute of Technology (MIT)
摘要：Many countries are amending their political systems to set aside positions to groups, such as women and racial or religious minorities, that are perceived as being disadvantaged. Using evidence from India, this article assesses the case for these reservations.
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作者：Francois, P; Zabojnik, J
作者单位：University of British Columbia; Tilburg University; University of Southern California
摘要：Many argue that elements of a society's norms, culture, or social capital are central to under-standings its development. However, these notions have been difficult to capture in economic models. Here we explore a possible role for trustworthiness as corresponding to social capital. Individuals are trustworthy when they perform in accordance with promises, even if this does not maximise their payoffs. The usual focus on incentive structures in motivating behaviour plays no role here. Instead, ...
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作者：Stock, JH; Watson, MW
作者单位：Harvard University; Princeton University
摘要：The volatility of economic activity inmost G7 economies has moderated over the past 40 years. Also, despite large increases in trade and openness, G7 business cycles have not become more synchronized. After documenting these facts, we interpret G7 output data using a structural VAR that separately identifies common international shocks, the domestic effects of spillovers from foreign idiosyncratic shocks, and the effects of domestic idiosyncratic shocks. This analysis suggests that, with the e...
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作者：Garibaldi, P; Wasmer, E
摘要：The sustainability of welfare states requires high employment and high participation to raise the tax base. To analyze labor supply in a world with market frictions, we propose and solve a macro model of the labor market with unemployment and labor force participation as endogenous and distinct states. In our world, workers' decisions of participating are determined by an entry decision and an exit decision. A calibration of the model improves the usual representations of labor markets, since ...
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作者：Gorton, Gary; Schmid, Frank A.
作者单位：University of Pennsylvania; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - St. Louis
摘要：Under the German corporate governance system of codetermination, employees are legally allocated control rights over corporate assets through seats on the supervisory board-that is, the board of nonexecutive directors. The supervisory board oversees the management board-the board of executive directors-approves or rejects its decisions, and appoints its members and sets their salaries. We empirically investigate the implications of this sort of labor participation in corporate decision making....
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作者：Burstein, Ariel T.; Rebelo, Sergio; Neves, Joao C.
作者单位：University of California System; University of California Los Angeles; Northwestern University; National Bureau of Economic Research; Centre for Economic Policy Research - UK; Universidade Catolica Portuguesa
摘要：This paper documents four basic facts about investment goods and investment prices. First, investment has a very significant nontradable component in the form of construction services. Second, distributions services (wholesaling, retailing, and transportation) are much less important for investment than for consumption. Third, the import content of investment is much larger than that of consumption. Finally, in the aftermath of three large devaluations, the rate of exchange rate pass-through i...
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作者：Freixas, Xavier; Rochet, Jean-Charles; Parigi, Bruno M.
作者单位：Pompeu Fabra University; Universite de Toulouse; Universite Federale Toulouse Midi-Pyrenees (ComUE); Universite de Toulouse; TBS Education; University of Padua
摘要：The classical Bagehot conception of a Lender of Last Resort (LOLR) that lends to illiquid banks has been criticized on two grounds: On the one hand, the distinction between insolvency and illiquidity is not clear-cut; on the other, a fully collateralized repo market allows central banks to provide the adequate aggregate amount of liquidity and leave to the banks the responsibility of lending uncollateralized. The object of this paper is to analyze these issues rigorously by providing a framewo...
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作者：Fehr, Ernst; List, John A.
作者单位：University of Zurich; University System of Maryland; University of Maryland College Park; National Bureau of Economic Research
摘要：We examine experimentally how Chief Executive Officers (CEOs) respond to incentives and how they provide incentives in situations requiring trust and trustworthiness. As a control we compare the behavior of CEOs with the behavior of students. We find that CEOs are considerably more trusting and exhibit more trustworthiness than students-thus reaching substantially higher efficiency levels than students. Moreover, we find that, for CEOs as well as for students, incentives based on explicit thre...
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作者：Eckstein, Zvi; Weiss, Yoram
作者单位：Tel Aviv University; University of Minnesota System; University of Minnesota Twin Cities
摘要：This paper develops a descriptive methodology for the analysis of wage growth of immigrants that is based on human capital theory. The sources of the wage growth are (1) the rise of the return to imported human capital, (2) the impact of accumulated experience in the host country, and (3) the mobility up the occupational ladder in the host country. The model implies a nonlinear wage function that includes interactions between imported skills and local wage growth. Using data on native Israelis...
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作者：Driscoll, John C.; Holden, Steinar
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; University of Oslo; Norges Bank
摘要：We argue that peoples' concern for fairness may explain an unsolved puzzle in macroeconomics: the persistence of inflation. We extend a 1990 wage-contracting model of Bhaskar in which workers' disutility from being paid less than other workers exceeds their utility from being paid more. This model generates a continuum of equilibria over a range of wages and unemployment rates. If workers' expectations are based on the past behavior of wage growth, these beliefs will be self-fulfilling, genera...
