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作者：D'Amuri, Francesco; Peri, Giovanni
作者单位：European Central Bank; Bank of Italy; University of Essex; University of California System; University of California Davis
摘要：In this paper we analyze the impact of immigrants on the type and quantity of native jobs. We use data on 15 Western European countries during the 1996-2010 period. We find that immigrants, by taking manual-routine type of occupations pushed natives towards more complex (abstract and communication) jobs. This job upgrade was associated to a 0.7% increase in native wages for a doubling of the immigrants' share. These results are robust to the use of an IV strategy based on past settlement of im...
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作者：Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain
作者单位：University of Cambridge; European Central Bank; Federal Reserve System - USA; Federal Reserve Bank - San Francisco
摘要：This paper analyzes the cross-country effects of productivity and demand disturbances in the United States identified with sign restrictions based on standard theory. Productivity gains in US manufacturing increase US consumption and investment vis-a-vis foreign countries, resulting in a trade deficit and higher international prices of US goods, despite the rise in their supply. Financial adjustment works via a higher global value of US equities, real dollar appreciation, and an expansion of U...
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作者：De Graeve, Ferre; Karas, Alexei
作者单位：Sveriges Riksbank; Utrecht University
摘要：This paper empirically tests theories of bank runs. We use a structural panel VAR to extract runs from deposit market data. Identification exploits cross-sectional heterogeneity in deposit insurance: we identify bank runs as adverse deposit market supply shocks hitting uninsured banks harder compared to insured. Conditional on a run, we study the behavior of uninsured banks with bad and good fundamentals. We find that both experience runs, but deposit outflows at the former are more severe. Pa...
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作者：Grosjean, Pauline
作者单位：University of New South Wales Sydney
摘要：The paper tests the popular hypothesis that the high prevalence of homicide in the South of the United States originates from the settlement by herders from the fringes of Britain in the 18th century. I find that historical Scots-Irish presence is associated with higher contemporary homicide, particularly by white offenders, and that a culture of violence was transmitted to subsequent generationsbut only in the South and, more generally, where historical institutional quality was low. The inte...
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作者：Levy, Gilat; Razin, Ronny
作者单位：University of London; London School Economics & Political Science
摘要：We develop a model of social signaling of religiosity and cooperative behavior in religious organizations. The model embeds a ritual-based religious organization in which signaling arises through the use of costly rituals, and a discipline-based religious organization in which such signaling occurs through the monitoring of past behavior. We use this framework to contrastpositively and normativelythese two forms of social signaling. We show that ritual-based religions, while using a costly and...
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作者：Geys, Benny; Vermeir, Jan
作者单位：BI Norwegian Business School; Vrije Universiteit Brussel
摘要：In federal countries, voters' ability to evaluate the performance of their leaders might be reduced when different levels of government shape policy outcomes. This can blur political accountability. In this article, we analyze how party cues (i.e., politicians' party membership acting as a cue towards their characteristics) affect voters' incomplete information in a federal setting. We theoretically show that party cues allow indirect inference regarding politicians using observed policy outco...
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作者：Heffetz, Ori; List, John A.
作者单位：Cornell University; University of Chicago
摘要：A hallmark result within behavioral economics is that individuals' choices are affected by current endowments. A recent theory due to Kszegi and Rabin (, Quarterly Journal of Economics, 121, 1133-1165) explains such endowment effect with a model of expectations-based reference-dependent preferences. Departing from past work, we conduct complementary experiments to disentangle expectationsverified probabilistic beliefs held by subjectsfrom other features of endowmentsuch as assignment to a good...
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作者：Baeriswyl, Romain; Cornand, Camille
作者单位：Swiss National Bank (SNB)
摘要：Financial markets are known for overreacting to public information. Central banks can reduce this overreaction either by disclosing information to only a fraction of market participants (partial publicity) or by disclosing information to all participants but with ambiguity (partial transparency). In theory, overreaction can be similarly reduced by either communication strategy. A laboratory experiment shows that both communication strategies succeed in reducing overreaction, though not as much...
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作者：Conconi, Paola; Sahuguet, Nicolas; Zanardi, Maurizio
作者单位：Universite Libre de Bruxelles; Universite de Montreal; HEC Montreal; Lancaster University
摘要：Democracies rarely engage in conflicts with one another, though they are not averse to fighting autocracies. We exploit the existence in many countries of executive term limits to show that electoral accountability is the key reason behind this democratic peace phenomenon. We construct a new dataset of term limits for a sample of 177 countries over the 1816-2001 period, and combine this information with a large dataset of interstate conflicts. Our empirical analysis shows that, although democr...
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作者：Gneezy, Uri; Rey-Biel, Pedro
作者单位：Autonomous University of Barcelona; Barcelona School of Economics
摘要：We report evidence from a large field experiment that compares the effectiveness of contingent and noncontingent incentives in eliciting costly effort for a large range of payment levels. The company with which we worked sent 7,250 letters asking customers to complete a survey. Some letters promised to pay amounts ranging from $1 to $30 upon compliance (contingent incentives), whereas others already contained the money in the request envelopes (noncontingent incentives). Compared to no payment...
