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作者：Rege, Mari; Telle, Kjetil; Votruba, Mark
作者单位：Universitetet i Stavanger; University System of Ohio; Case Western Reserve University
摘要：We investigate the impact of plant downsizing on disability pension utilization in Norway. Plant downsizing substantially increases the disability entry rate of workers in affected plants. Workers originally employed in plants that downsized by more than 60% between 1995 and 2000 were 24% more likely to utilize disability pensions in 2001 than comparable workers in non-downsized plants. We also estimate significant effects of downsizing on future earnings and mortality, which suggest that the ...
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作者：Bernheim, B. Douglas
作者单位：Stanford University
摘要：This paper discusses several competing proposals for general normative frameworks that would encompass non-standard models of choice. Most existing proposals equate welfare with wellbeing. Some assume that well-being flows from the achievement of well-defined objectives, and that those objectives also guide choices; the trick is to formulate a framework in which less-than-completely coherent choice patterns reveal the unobserved objectives. Others are predicated on the contention that well-bei...
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作者：Crepon, Bruno; Ferracci, Marc; Jolivet, Gregory; van den Berg, Gerard J.
作者单位：Japan Science & Technology Agency (JST); University of Bristol; Vrije Universiteit Amsterdam
摘要：This paper implements a method to identify and estimate treatment effects in a dynamic setting where treatments may occur at any point in time. By relating the standard matching approach to the timing-of-events approach, it demonstrates that effects of the treatment on the treated at a given date can be identified although non-treated may be treated later in time. The approach builds on a no anticipation assumption and the assumption of conditional independence between the duration until treat...
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作者：Daly, Michael; Harmon, Colm P.; Delaney, Liam
作者单位：Trinity College Dublin; University College Dublin
摘要：This paper considers the relationship between the economic concept of time preference and relevant concepts from psychology and biology. Using novel data from a time diary study conducted in Ireland that combined detailed psychometric testing with medical testing and real-time bio-tracking, we examine the extent to which individual differences in financial discounting are related to underlying biological and psychological differences. The paper finds that financial discounting is related to a ...
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作者：Calvo-Armengol, Antoni; de Marti Beltran, Joan
作者单位：Autonomous University of Barcelona; ICREA; Pompeu Fabra University
摘要：We model an organization as a game in which all agents share a common decision problem and some level of coordination is necessary between individual actions. Agents have individual private information concerning the task they have to perform, and they share this private information through pairwise channels of communication. We analyze how this communication pattern, modeled by means of a network structure, affects individual behavior and aggregate welfare. In the unique equilibrium of this B...
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作者：Gibbons, Stephen; Machin, Stephen; Silva, Ohno
作者单位：University of London; London School Economics & Political Science; University of London; University College London
摘要：Choice and competition in education have recently found growing support from both policy-makers and academics. Yet evidence on the actual benefits of market-orientated reforms is at best mixed. Moreover, although the economic rationale for choice and competition is clear, in existing work there is rarely an attempt to distinguish between the two concepts. In this paper, we study whether pupils in Primary schools in England with a wider range of school choices achieve better academic outcomes t...
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作者：Benabou, Roland
作者单位：Princeton University
摘要：I develop a model of ideologies as collectively sustained (yet individually rational) distortions in beliefs concerning the proper scope of governments versus markets. In processing and interpreting signals of the efficacy of public and market provision of education, health insurance, pensions, etc., individuals optimally trade off the value of remaining hopeful about their future prospects (or their children's) versus the costs of misinformed decisions. Because these future outcomes also depe...
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作者：Burnside, Craig; Eichenbaum, Martin; Rebelo, Sergio
作者单位：Duke University; Northwestern University
摘要：Market participants routinely take advantage of the failure of uncovered interest rate parity to speculate in currency markets. Perhaps the most widely used currency speculation strategy is the carry trade. In this article we take the perspective of an individual currency trader and document the gains to diversifying the carry trade across different currencies. We show that these gains are large. Diversification boosts the typical Sharpe ratio by over 50%.
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作者：Collier, Paul; Rohner, Dominic
作者单位：University of Oxford; University of York - UK; University of Cambridge
摘要：Currently the strategy for promoting internal peace favoured by the international community is to promote democracy, the rationale being that democratic accountability lowers incentives for rebellion. We argue that democracy also constrains the technical possibilities of government repression, and that. this makes rebellion easier. Although the net effect of democracy is therefore ambiguous, we suggest that the higher is income the more likely is it to be favourable. Empirically, we find that ...
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作者：Yeyati, Eduardo Levy; Schmukler, Sergio L.; Van Horen, Neeltje
作者单位：The World Bank; University of Amsterdam
摘要：Whereas conventional wisdom argues that markets shut down during crises, with sellers struggling to find buyers, we find that markets continue to operate during financial turmoil, even in narrow and volatile emerging economies. Simple event studies indicate that both trading volume and trading costs increase in crisis times. Prices change more with each dollar transacted (pushing the Amihud illiquidity measure up) and bid-ask spreads widen. More generally, econometric estimates show that large...
