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作者：Desai, Mihir A.; Dharmapala, Dhammika
作者单位：Harvard University; National Bureau of Economic Research; University of Connecticut
摘要：Do corporate tax avoidance activities advance shareholder interests? This paper tests alternative theories of corporate tax avoidance using unexplained differences between income reported to capital markets and to tax authorities. OLS estimates indicate that the effect of tax avoidance on firm value is a function of firm governance, as predicted by an agency perspective on corporate tax avoidance. Instrumental variables estimates based on exogenous changes in tax regulations yield larger overa...
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作者：Kremer, Michael; Miguel, Edward; Thornton, Rebecca
作者单位：Harvard University; Brookings Institution; National Bureau of Economic Research; University of California System; University of California Berkeley; University of Michigan System; University of Michigan
摘要：We study a randomized evaluation of a merit scholarship program in which Kenyan girls who scored well on academic exams had school fees paid and received a grant. Girls showed substantial exam score gains, and teacher attendance improved in program schools. There were positive externalities for girls with low pretest scores, who were unlikely to win a scholarship. We see no evidence for weakened intrinsic motivation. There were heterogeneous program effects. In one of the two districts, there ...
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作者：Antonovics, Kate; Arcidiacono, Peter; Walsh, Randall
作者单位：University of California System; University of California San Diego; Duke University; University of Colorado System; University of Colorado Boulder
摘要：An important issue with conducting economic analysis in the lab is whether the results generalize to real-world environments where the stakes and subject pool are considerably different. We examine data from the game show The Weakest Link to determine whether the gender of one's opponent affects performance. We then attempt to replicate the competitive structure of the game show in the lab with an undergraduate subject pool. The results in the lab only match when we both employ high stakes in ...
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作者：Ciccone, Antonio; Papaioannou, Elias
作者单位：Pompeu Fabra University; Dartmouth College
摘要：We document that countries with higher initial education levels experienced faster value-added and employment growth in schooling-intensive industries in the 1980s and 1990s. This effect is robust to controls for other determinants of international specialization and becomes stronger when we focus on economies open to international trade. Our finding is consistent with schooling fostering the adoption of new technologies if such technologies are skilled-labor augmenting, as was the case in the...
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作者：Aydemir, Abdurrahman; Chen, Wen-Hao; Corak, Miles
作者单位：Sabanci University; University of Ottawa; Statistics Canada
摘要：The intergenerational earnings mobility of Canadians born to immigrants is examined using the 2001 Census. A detailed portrait of the Canadian population is offered as are estimates of the degree of generational mobility among the children of immigrants from seventy countries. The degree of intergenerational persistence is about the same for immigrants as for the entire population, and there is more generational mobility among immigrants in Canada than in the United States. We also use quantil...
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作者：Browning, Martin; Ejrnaes, Mette
作者单位：University of Oxford; University of Copenhagen
摘要：Consumption by couples rises sharply in the beginning and falls later in life; the causes of the early rise are hotly contested. Among the suggestions are rule of thumb behavior, demographics, liquidity constraints, the precautionary motive, and nonseparabilities between consumption and labor supply. We develop two tests of the extreme hypothesis that only changes in family structure matter. We estimate effects of the numbers and ages of children on consumption. These estimates allow us to rat...
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作者：Crump, Richard K.; Hotz, V. Joseph; Imbens, Guido W.; Mitnik, Oscar A.
作者单位：University of California System; University of California Berkeley; Duke University; National Bureau of Economic Research; Harvard University; University of Miami; IZA Institute Labor Economics
摘要：In this paper we develop two nonparametric tests of treatment effect heterogeneity. The first test is for the null hypothesis that the treatment has a zero average effect for all subpopulations defined by covariates. The second test is for the null hypothesis that the average effect conditional on the covariates is identical for all subpopulations, that is, that there is no heterogeneity in average treatment effects by covariates. We derive tests that are straightforward to implement and illus...
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作者：Bordo, Michael D.; Haubrich, Joseph G.
作者单位：Rutgers University System; Rutgers University New Brunswick; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Cleveland
摘要：This paper brings historical evidence to bear on the stylized fact that the yield curve predicts future growth. The spread between corporate bonds and commercial paper reliably predicts future growth over the period 1875-1997. This predictability varies over time, however, and has been strongest in the post-World War II period.
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作者：Osili, Una Okonkwo; Paulson, Anna L.
作者单位：Purdue University System; Purdue University; Purdue University in Indianapolis; Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：We investigate the impact of institutions on financial development by analyzing the financial behavior of immigrants in the United States. We find that immigrants from countries with institutions that more effectively protect private property are more likely to own stock in the United States. The effect of home-country institutions is persistent and absorbed early in life. The impact of institutions is amplified for immigrants who live in metropolitan areas with many other immigrants from the ...
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作者：Chun, Hyunbae; Nadiri, M. Ishaq
作者单位：Sogang University; New York University; National Bureau of Economic Research
摘要：In this paper, we examine the sources of the productivity growth in the U.S. computer industry from 1978 to 1999. We estimate a joint production model of output quantity and quality that distinguishes two types of technological changes: process and product innovations. Based on the estimation results, we decompose total factor productivity (TFP) growth rate into the contributions of process and product innovations and scale economies. We find that product innovation associated with better qual...
