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作者：Schivardi, Fabiano; Schmitz, Tom
作者单位：Luiss Guido Carli University; Bocconi University; Bocconi University
摘要：Since the middle of the 1990s, productivity growth in Southern Europe has been substantially lower than in other developed countries. We argue that this divergence was partly caused by inefficient management practices, which limited Southern Europe's gains from the IT Revolution. To quantify this effect, we build a multi-country general equilibrium model with heterogeneous firms and workers. In our model, the IT Revolution generates divergence for three reasons. First, inefficient management l...
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作者：Gagnon, Etienne; Lopez-Salido, David
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：We study the pricing response of U.S. supermarkets to large demand shocks triggered by labor conflicts, mass population displacement, and shopping sprees around major snowstorms and hurricanes. We find that these large swings in demand have, at best, modest effects on the level of retail prices, consistent with flat short- to medium-term supply curves. This finding holds even when shocks are highly persistent and despite the fact that stores adjust prices frequently. We also provide evidence t...
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作者：Baudin, Thomas; de la Croix, David; Gobbi, Paula E.
作者单位：IESEG School of Management; Centre National de la Recherche Scientifique (CNRS); CNRS - Institute for Humanities & Social Sciences (INSHS); Universite Paris Cite; Universite Catholique Louvain; Universite Libre de Bruxelles
摘要：Although developing countries are characterized by high average fertility rates, they are as concerned by childlessness as developed countries. Beyond natural sterility, there are two main types of childlessness: one driven by poverty and another by the high opportunity cost of child-rearing. We measure the importance of the components of childlessness with a structural model of fertility and marriage. Deep parameters are identified using census data from 36 developing countries. As average ed...
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作者：He, Jiaxiu; Gouveia, Nelson; Salvo, Alberto
作者单位：National University of Singapore; Western University (University of Western Ontario); Universidade de Sao Paulo
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作者：Anelli, Massimo
作者单位：Bocconi University
摘要：I take advantage of a discontinuity in the probability of admission to a highly selective private university to estimate causal returns to investing in elite university education. I use a newly assembled data set that combines individual administrative records about high school attendance, university admission, university attendance, and tax returns. I find a discontinuity in income of 38 log points at the admission cutoff. The fuzzy regression discontinuity estimate for the elite enrollment e...
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作者：Repetto, Luca; Solis, Alex
作者单位：Uppsala University
摘要：Do behavioral biases affect prices in a high-stakes market? We study the role of left-digit bias in the purchase of an apartment. Left-digit bias is the failure to fully process digits after the first, perceiving prices just below a round number (such as $3.99) as cheaper than their round counterpart ($4). Apartments with asking prices just below round millions are sold at a 3%-5% higher final price after an auction. This effect appears not to be driven by differences in observables or in real...
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作者：Vivalt, Eva
作者单位：Australian National University; University of Toronto
摘要：Impact evaluations can help to inform policy decisions, but they are rooted in particular contexts and to what extent they generalize is an open question. I exploit a new data set of impact evaluation results and find a large amount of effect heterogeneity. Effect sizes vary systematically with study characteristics, with government-implemented programs having smaller effect sizes than academic or non-governmental organization-implemented programs, even controlling for sample size. I show that...
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作者：Edo, Anthony
摘要：This paper investigates the dynamics of wage adjustment to an exogenous increase in labor supply exploiting the sudden and unexpected inflow of repatriates to France resulting from Algerian independence in 1962. I measure the impact of this particular supply shift on the average wage of pre-existing native workers across French regions between 1962 and 1976. I find that regional wages decreased between 1962 and 1968, before returning to their pre-shock level 15 years after. I also investigate ...
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作者：Gallice, Andrea; Grillo, Edoardo
作者单位：University of Turin; Collegio Carlo Alberto
摘要：We investigate how social status concerns may affect voters' preferences for redistribution. Social status is given by a voter's relative standing in two dimensions: consumption and social class. By affecting the distribution of consumption levels, redistribution modifies the weights attached to the two dimensions. Thus, redistribution not only transfers resources from the rich to the poor, but it also amplifies or reduces the importance of social class differences. Social status concerns can ...
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作者：Hoffmann, Mathias; Stewen, Iryna
作者单位：University of Zurich; Johannes Gutenberg University of Mainz
摘要：We show how capital inflows into and financial deregulation within the United States interacted in driving the recent boom and bust in U.S. housing prices. Interstate banking deregulation during the 1980s cast a long shadow: in states that opened their banking markets to out-of-state banks earlier, house prices were more sensitive to aggregate U.S. capital inflows during 1997-2012. Capital inflows relaxed the value-at-risk constraints of geographically diversified (integrated) U.S. banks more ...
