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作者：Battaglini, Marco; Nunnari, Salvatore; Palfrey, Thomas R.
作者单位：Cornell University; Bocconi University; California Institute of Technology
摘要：This paper reports the results from a laboratory experiment designed to study political distortions in the accumulation of public debt. A legislature bargains over the levels of a public good and of district specific transfers in two periods. The legislature can issue or purchase risk-free bonds in the first period and the level of public debt creates a dynamic linkage across policymaking periods. In line with the theoretical predictions, we find that public policies are inefficient and effici...
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作者：Singh, Abhijeet
作者单位：Stockholm School of Economics
摘要：I use unique child-level panel data from Ethiopia, India, Peru, and Vietnam, four developing countries with widely differing levels of student achievement, to study the extent to which differences in the productivity of primary schooling can explain international differences in human capital. I document, using identical tests of quantitative skills across countries, that although some cross-sectional gaps in test scores between these countries are evident at preschool ages, these grow substant...
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作者：Au, Pak Hung
作者单位：Hong Kong University of Science & Technology
摘要：This paper examines the optimal compensation scheme, job design, and severance policy for a team using a model of repeated moral hazard. In the optimal contract, the agent may be paid to quit after a poor performance. We show that a generous severance policy facilitates the adoption of team incentives and team-based production by making it cost-effective to implement peer monitoring and sanction among the agents.
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作者：Imbert, Clement; Papp, John
作者单位：University of Warwick
摘要：This paper studies the effect of India's rural public works program on rural-to-urban migration and urban labor markets. We find that seasonal migration from rural districts that implemented the program decreased relative to those that were selected to, but did not implement it. We use a gravity model and find that real wages rose faster in cities with higher predicted migration from program districts. Since most seasonal migrants work outside of their district, urban wage increases were not l...
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作者：Campos, Rodolfo G.; Reggio, Iliana
作者单位：Banco de Espana; Goethe University Frankfurt
摘要：It is well known that transitions from employment to unemployment reduce consumption expenditure, but is this fall mainly driven by quantities or by prices? Using panel data on expenditure and quantities from the Spanish consumption survey we find that the unemployed pay prices that are, on average, 1.5% lower, and that this difference in prices accounts for roughly one sixth of the gap in consumption expenditure between the employed and the unemployed. The reduction in prices estimated with p...
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作者：Ngai, L. Rachel; Sheedy, Kevin D.
作者单位：University of London; London School Economics & Political Science
摘要：Using data on house sales and inventories, this paper shows that housing transactions are driven mainly by listings and less so by transaction speed, thus the decision to move house is key to understanding the housing market. The paper builds a model where moving house is essentially an investment in match quality, implying that moving depends on macroeconomic developments and housing-market conditions. The number of transactions has implications for welfare because each transaction reduces mi...
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作者：Cust, James; Harding, Torfinn
作者单位：The World Bank; Norwegian School of Economics (NHH)
摘要：We provide evidence that institutions have a strong influence over where oil and gas exploration takes place. We utilise a global data set on the location of exploration wells and national borders. This allows for a regression discontinuity design with the identifying assumption that the position of borders was determined independently of geology. In order to break potential simultaneity between borders, institutions, and activities in the oil sector, we focus on drilling that occurred after t...
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作者：Gorton, Gary; Ordonez, Guillermo
作者单位：Yale University; University of Pennsylvania
摘要：Credit booms are not rare, some end in a crisis (bad booms) whereas others do not (good booms). We document that credit booms start with an increase in productivity growth, which subsequently falls faster during bad booms. We develop a model in which a crisis happens when a credit boom transits toward an information regime with careful examination of collateral. As this examination is more valuable when collateral backs projects with low productivity, crises are more likely during booms that d...
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作者：Drago, Francesco; Galbiati, Roberto; Sobbrio, Francesco
作者单位：University of Catania; Centre National de la Recherche Scientifique (CNRS); Luiss Guido Carli University
摘要：This study analyzes voters' response to criminal justice policies by exploiting a natural experiment. The 2006 Italian Collective Pardon Bill, designed and promoted by the incumbent center-left (CL) coalition, unexpectedly released about one-third of the prison population, creating idiosyncratic incentives to recidivate across pardoned individuals. Municipalities where resident pardoned individuals had a higher incentive to recidivate experienced a higher recidivism rate. We show that in those...
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作者：Baudin, Thomas; de la Croix, David; Gobbi, Paula
作者单位：Universite Paris Cite; IESEG School of Management; Centre National de la Recherche Scientifique (CNRS); CNRS - Institute for Humanities & Social Sciences (INSHS); Universite Catholique Louvain; Universite Libre de Bruxelles
