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作者：Attanasio, Orazio; Krutikova, Sonya
作者单位：Yale University; Yale University; University of London; London School Economics & Political Science
摘要：This paper uses a dataset from Tanzania with information on consumption, income, and income shocks within and across family networks. Crucially and uniquely, it also contains data on the degree of information existing between each pair of households within family networks. We use these data to construct a novel measure of the quality of information both at the level of household pairs and at the level of the network. We also note that the individual level measures can be interpreted as measure...
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作者：Papageorge, Nicholas W.; Thom, Kevin
作者单位：Johns Hopkins University; University of Wisconsin System; University of Wisconsin Milwaukee
摘要：Recent advances have led to the discovery of specific genetic variants that predict educational attainment. We study how these variants, summarized as a linear index-known as a polygenic score-are associated with human capital accumulation and labor market outcomes in the Health and Retirement Study (HRS). We present two main sets of results. First, we find evidence that the genetic factors measured by this score interact strongly with childhood socioeconomic status in determining educational ...
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作者：Corvalan, Alejandro; Querubin, Pablo; Vicente, Sergio
作者单位：University Diego Portales; New York University; Universidad Carlos III de Madrid; University of London; Queen Mary University London
摘要：We study the relationship between the composition of the political class and the size of government. First, we use a citizen-candidate model to show that the extension of suffrage is inconsequential for government spending when stricter eligibility requirements are in place. The removal of eligibility requirements, on the other hand, leads to the election of less wealthy politicians and the enactment of more redistributive policies. We test these predictions empirically using data from the 13 ...
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作者：Grimm, Veronika; Mengel, Friederike
作者单位：University of Erlangen Nuremberg; University of Essex; Lund University
摘要：We study belief formation in social networks using a laboratory experiment. Participants in our experiment observe an imperfect private signal on the state of the world and then simultaneously and repeatedly guess the state, observing the guesses of their network neighbors in each period. Across treatments we vary the network structure and the amount of information participants have about the network. Our first result shows that information about the network structure matters and in particular...
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作者：Bouvard, Matthieu; Levy, Raphael
作者单位：McGill University; Hautes Etudes Commerciales (HEC) Paris
摘要：We study how a decision maker uses his reputation to simultaneously influence the actions of multiple receivers with heterogenous biases. The reputational payoff is single-peaked around a bliss reputation at which the incentives of the average receiver are perfectly aligned. We establish the existence of two equilibria characterized by repositioning toward this bliss reputation that only differ through a multiplier capturing the efficiency of reputational incentives. Repositioning is moderate ...
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作者：Ventura, Jaume
作者单位：Pompeu Fabra University; Centre de Recerca en Economia Internacional (CREI); Barcelona School of Economics
摘要：This paper develops a simple theoretical framework to study a set of regions, each with its own regional government, who share a union or central government. These governments must decide whether to implement or discard a large number of projects that produce local benefits for the region that implements them, and externalities for the rest of the regions. Conflict or disagreement arises since different regions value projects differently. The classic assignment problem consists of deciding who...
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作者：Ngai, L. Rachel; Pissarides, Christopher A.; Wang, Jin
作者单位：University of London; London School Economics & Political Science; Hong Kong University of Science & Technology; Hong Kong University of Science & Technology
摘要：China's hukou system imposes two main barriers to population movements. Agricultural workers get land to cultivate but are unable to trade it in a frictionless market. Social transfers (education, health, etc.) are conditional on holding a local hukou. We show that the land policy leads to over-employment in agriculture and it is the more important barrier to industrialization. Effective land tenure guarantees and a competitive rental market would correct this inefficiency. The local restricti...
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作者：Jung, Philip; Kuhn, Moritz
作者单位：Dortmund University of Technology; University of Bonn; IZA Institute Labor Economics; Center for Economic & Policy Research (CEPR)
摘要：Large and persistent earnings losses following displacement have adverse consequences for the individual worker and the macroeconomy. Leading models cannot explain their size and disagree on their sources. Two mean-reverting forces make earnings losses transitory in these models: search as an upward force allows workers to climb back up the job ladder, and separations as a downward force make nondisplaced workers fall down the job ladder. We show that job stability at the top rather than searc...
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作者：Gruener, Hans Peter; Siemroth, Christoph
作者单位：University of Mannheim; University of Essex
摘要：We show how decentralized individual investments can efficiently allocate capital to innovating firms via equity crowdfunding. We develop a model where consumers have privately known consumption preferences and may act as investors. Consumers identify worthwhile investments based on their own preferences and invest in firms whose product they like. In the presence of aggregate demand uncertainty, an efficient capital allocation is achieved if all groups of consumers have enough liquidity to in...
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作者：Besley, Timothy; Persson, Torsten
作者单位：University of London; London School Economics & Political Science; Canadian Institute for Advanced Research (CIFAR); Stockholm University
摘要：This paper develops a framework to study environmentalism as a cultural phenomenon, namely as reflecting a process of social identification with certain values. The model is used to explain how the shares of environmentalists and materialists in society can coevolve with taxes on emissions to protect society against damages caused by environmental degradation. These policies are determined by electoral competition. However, even though politicians internalize the welfare of those currently ali...
