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作者：Lechner, Michael; Miquel, Ruth; Wunsch, Conny
作者单位：University of St Gallen
摘要：We estimate the short-, medium-, and long-term effects of different types of government-sponsored training in West Germany using particularly rich data that allows us to control for selectivity by matching methods and to measure interesting outcome variables over eight years after a program's start. We use distance-weighted radius matching together with a bias removal procedure based on weighted regressions in order to increase the precision and robustness of standard matching estimators. We f...
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作者：Brou, Daniel; Ruta, Michele
作者单位：Western University (University of Western Ontario)
摘要：We study the effects of economic and political integration by presenting a model in which firms compete with each other in both an economic marketwhere they produce a good and compete for market shareand in a political (rent seeking) marketwhere they compete for transfers from the government. Growth is driven by firms cost-reducing innovation activity and economic and political integration affect firms incentive to innovate differently. In this setting, economic and political integration can b...
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作者：Janssens, Wendy
作者单位：Vrije Universiteit Amsterdam
摘要：Impact evaluations of development programs usually do not explicitly take into account externalities on non-participants. Based on a unique dataset we estimate the direct as well as the spillover effects of Mahila Samakhya, a women's empowerment program in India, on child immunization. The survey covers both participants and non-participants in program villages, as well as respondents in control villages. We account for participation selection bias using instrumental variables. We propose a di...
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作者：Besley, Timothy; Robinson, James A.
作者单位：University of London; London School Economics & Political Science; Harvard University
摘要：The question of who guards the guards is intimately connected with broader questions of state capacity and the establishment of a monopoly of violence in society, something which is often viewed as the defining feature of the modern state. But to establish such a monopoly, civilian rulers need not only to build an effective military, but also to control it. In this paper we study how governments may solve this problem when they recognize that their decisions to build a strong army may have ram...
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作者：Kubler, Felix; Schmedders, Karl
作者单位：Swiss Finance Institute (SFI); University of Zurich
摘要：In this paper we examine the likelihood of multiple real steady states in deterministic exchange economies with overlapping generations. There is a single good and a single agent per generation with constant relative risk aversion expected utility. In order to test for multiple equilibria we employ methods from computational algebraic geometry. In our examples, we find that multiplicity becomes less likely as the life span of agents increases but becomes more likely as the coefficient of risk ...
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作者：Hennig-Schmidt, Heike; Rockenbach, Bettina; Sadrieh, Abdolkarim
作者单位：University of Bonn; University of Erfurt; Otto von Guericke University
摘要：We present a field experiment to assess the effect of own and peer wage variations on actual work effort of employees with hourlywages. Work effort neither reacts to an increase of the own wage, nor to a positive or negative peer comparison. This result seems at odds with numerous laboratory experiments that show a clear own wage sensitivity on effort. In an additional real-effort laboratory experiment we show that explicit cost and surplus information that enables an exact calculation of an e...
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作者：Brock, William A.; Durlauf, Steven N.
作者单位：University of Wisconsin System; University of Wisconsin Madison
摘要：This paper considers the observational implications of social influences on adoption decisions for an environment of perfect foresight adopters. We argue that social influences can produce two observable effects: (1) discontinuities in unconditional adoption curves and (2) pattern reversals in conditional adoption curves, in which earlier adoption is found for one group of actors versus another when fundamentals suggest the reverse ordering should occur; in turn the presence of either of these...
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作者：Messina, Julian; Duarte, Claudia Filipa; Izquierdo, Mario; Du Caju, Philip; Hansen, Niels Lynggard
作者单位：Universitat de Girona; The World Bank; Banco de Portugal; Banco de Espana; European Central Bank; National Bank of Belgium
摘要：This paper presents estimates based on individual data of downward nominal and real wage rigidities for 13 sectors in Belgium, Denmark, Spain, and Portugal. Our methodology follows the approach recently developed for the International Wage Flexibility Project, whereby resistance to nominal and real wage cuts is measured through departures of observed individual wage change histograms from an estimated counterfactual wage change distribution that would have prevailed in the absence of rigidity....
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作者：Bean, Charles
作者单位：Bank of England
摘要：This lecture examines the causes of the recent financial crisis and subsequent recession. On the macroeconomic side, the Great Moderation encouraged an overly optimistic assessment of risk. Combined with low interest rates, reflecting both loose monetary policy and relatively high Asian savings rates, that encouraged a build-up of excessive leverage in the banking system. On the microeconomic side, distorted incentives led to a concentration and mispricing of risk. Informational complexities a...
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作者：Stern, Nicholas
作者单位：University of London; London School Economics & Political Science
摘要：The economics of public policy has suffered from collective amnesia: we have forgotten or ignored much of the tradition of public policy in imperfect economies whose foundations were laid by James Meade and Paul Samuelson. This has been associated with a period of around two decades from the early 1980s to the early 2000s where the economics of public policy has bent to political windsand has fed arguments for government to get out of the way and leave everything to the markets, to self-intere...
