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作者：Aspachs-Bracons, Oriol; Clots-Figueras, Irma; Costa-Font, Joan; Masella, Paolo
作者单位：University of London; London School Economics & Political Science; Universidad Carlos III de Madrid; University of Barcelona; European University Institute
摘要：Education can be at the root of the process of identity formation. Using survey data from Catalonia and the Basque Country, where in 1983 the education system became bilingual, we study how parental choices and schooling interact with each other and contribute to the development of individual identity. The difference between the reforms implemented in the two Spanish regions is that whereas in Catalonia the reform was compulsory, in the Basque Country parents could choose the language used to ...
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作者：Guiso, Luigi; Paiella, Monica
作者单位：European University Institute; Parthenope University Naples
摘要：We use household survey data to construct a direct measure of absolute risk aversion based on the maximum price a consumer is willing to pay for a risky security. We relate this measure to consumer's endowments and attributes and to measures of background risk and liquidity constraints. We find that risk aversion is a decreasing function of the endowment - thus rejecting CARA preferences. We estimate the elasticity of risk aversion to consumption at about 0.7, below the unitary value predicted...
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作者：Palme, Marten; Sandgren, Sofia
作者单位：Stockholm University; Uppsala University; Norwegian University of Science & Technology (NTNU)
摘要：This article studies the relation between parental economic resources and mortality later in life. We use a data set on a cohort of individuals born in 1928 in the county of Malmo in southern Sweden, which contains exceptionally detailed measures of parental household income from five years during the individuals' childhood between 1929 and 1942. The data also contain very rich information on individual earnings throughout these individuals' entire life cycle that allows us to construct a meas...
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作者：Del Boca, Alessandra; Galeotti, Marzio; Himmelberg, Charles P.; Rota, Paola
作者单位：University of Brescia; University of Milan
摘要：Time-to-build models of investment expenditures play an important role in many traditional and modem theories of the business cycle, especially for explaining the dynamic propagation of shocks. We estimate the structural parameters of a time-to-build model using annual firm-level investment data on equipment and structures. For expenditures on equipment, we find no evidence of time-to-build effects beyond one year. For expenditures on structures, by contrast, there is clear evidence of such ef...
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作者：Newbery, David M.
作者单位：University of Cambridge
摘要：The European Emissions Trading Scheme (ETS) limits CO2 emissions from covered sectors, especially electricity (accounting for about 56%). At (sic)44 billion per annum. the ETS is the largest emissions trading system ever, 40 times larger than US programmes. The article demonstrates that fixing the quantity rather than the price of carbon reduces the price elasticity of demand for gas appreciably, amplifying the market power of gas suppliers, and amplifying the impact of gas price increases on ...
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作者：Benati, Luca; Surico, Paolo
摘要：Based on a structural VAR with time-varying parameters and stochastic volatility for the post-WWII U.S., we document a negative correlation between the evolution of the long-run coefficient on inflation in the structural monetary rule and the evolution of the persistence and predictability of inflation relative to a trend component. Using an estimated sticky-price model, we show that a more aggressive policy stance towards inflation causes a decline in inflation predictability.
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作者：Barr, Abigail; Genicot, Garance
作者单位：University of Oxford; Georgetown University
摘要：This paper describes and analyzes the results of a unique field experiment especially designed to test the effects of the level of commitment and information available to individuals when sharing risk. We find that limiting exogenously provided commitment is associated with less risk sharing, whereas limiting information on defections can be associated with more risk sharing. These results can be understood by distinguishing between intrinsic and extrinsic incentives, and by recognizing that s...
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作者：Harstad, Bard
作者单位：Northwestern University
摘要：I investigate when side payments facilitate cooperation in a context with strategic delegation. On the one hand, allowing side payments may be necessary when one party's participation constraint otherwise would be violated. On the other, with side payments each principal appoints a delegate that values the project less, because this increases her bargaining power. Reluctant agents, in turn, implement too few projects. I show that side payments are bad if the heterogeneity is small while the un...
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作者：Banerjee, Abhijit V.; Duflo, Esther; Glennerster, Rachel
作者单位：Massachusetts Institute of Technology (MIT)
摘要：The public Indian health care system is plagued by high staff absence, low effort by providers, and limited use by potential beneficiaries who prefer private alternatives. This artice reports the results of an experiment carried out with a district administration and a nongovernmental organization (NGO). The presence of government nurses in government public health facilities (subcenters and aid-posts) was recorded by the NGO, and the government took steps to punish the worst delinquents. Init...
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作者：Copic, Jernej; Ponsati, Clara
作者单位：University of California System; University of California Los Angeles; Consejo Superior de Investigaciones Cientificas (CSIC); CSIC - Institut d'Analisi Economica (IAE)
摘要：We consider bilateral trade problems subject to incomplete information on the reservation values of the agents. We address negotiations where the communication of proposals takes place through the filter of a third party, a mediator: traders submit proposals over continuous time to the mediator that receives bids and keeps them secret until they are compatible. A regular robust equilibrium (RRE) is an (undominated) ex post equilibrium where (with sufficient delay) all compatible traders reach ...
