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作者：Berkowitz, Daniel; Moenius, Johannes; Pistor, Katharina
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University Redlands; Columbia University
摘要：How does the quality of national institutions that enforce the rule of law influence international trade? Anderson and Marcouiller argue that bad institutions located in the importer's country deter international trade because they enable economic predators to steal and extort rents at the importer's border. We complement this research and show how good institutions located in the exporter's country enhance international trade, in particular, trade in complex products whose characteristics are...
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作者：Grinols, EL; Mustard, DB
作者单位：Baylor University; University System of Georgia; University of Georgia
摘要：We examine the relationship between casinos and crime using county-level data for the United States between 1977 and 1996. Casinos were nonexistent outside Nevada before 1978, and expanded to many other states during our sample period. Most factors that reduce crime occur before or shortly after a casino opens, whereas those that increase crime, including problem and pathological gambling, occur over time. The results suggest that the effect on crime is low shortly after a casino opens, and gr...
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作者：Rhine, SLW; Greene, WH; Toussaint-Comeau, M
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; New York University; Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：The roughly 9.1% of all U. S. families that are without some type of transaction account (unbanked) are disproportionately represented among minorities. The unbanked often must rely on alternative ways to carry out basic financial transactions such as cashing payroll checks and paying bills. This study analyzes unique survey data and finds that a consumer's decision to patronize check-cashing businesses is jointly made with the decision to be unbanked. For the unbanked, these businesses are an...
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作者：Blomberg, S. Brock; Hess, Gregory D.
作者单位：Claremont Colleges; Claremont Graduate University; Claremont McKenna College
摘要：We investigate the empirical effect of violence, as compared to other trade impediments, on trade flows. Our analysis is based on a panel data set with annual observations on 177 countries from 1968 to 1999, which brings together information from the Rose data set, the ITERATE data set for terrorist events, and data sets of external and internal conflict. We explore these data with traditional and theoretical gravity models. We calculate that, for a given country year, the presence of terroris...
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作者：Pencavel, John
作者单位：Stanford University
摘要：The connection between changes in earnings inequality of individuals and changes in family earnings involves several links: the movements in the employment of different family members, the association between changes in husbands' and in wives' earnings, and patterns of assortative mating. A decomposition of the logarithm of the coefficient of variation in family earnings identifies these links. The data on the dispersion of family earnings are organized not simply over time, but also by age. T...
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作者：Silva, J. M. C. Santos; Tenreyro, Silvana
作者单位：Universidade de Lisboa; University of London; London School Economics & Political Science; University of London; London School Economics & Political Science
摘要：Although economists have long been aware of Jensen's inequality, many econometric applications have neglected an important implication of it: under heteroskedasticity, the parameters of log-linearized models estimated by OLS lead to biased estimates of the true elasticities. We explain why this problem arises and propose an appropriate estimator. Our criticism of conventional practices and the proposed solution extend to a broad range of applications where log-linearized equations are estimate...
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作者：Fisman, R
作者单位：Columbia University; National Bureau of Economic Research
摘要：This paper studies the effect of foreign competition on the extent of forecasting bias. I focus on two biases often described in the behavioral economics literature: overoptimism and excessive belief in trends. Using data from firm-level surveys in five African countries, I show that firms that do not face foreign competition generate forecasts of sales growth that have greater trend and optimism biases than firms that have foreign competitors. I further provide evidence that these erroneous f...
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作者：Goolsbee, Austan; Guryan, Jonathan
作者单位：University of Chicago; National Bureau of Economic Research
摘要：In an effort to alleviate the perceived growth of a digital divide, the U.S. government enacted a major subsidy for Internet and communications investment in schools starting in 1998. In this paper, we evaluate the effect of the subsidy-known as the E-Rate-on Internet investment in California public schools. The program subsidized spending by 20%-90%, depending on school characteristics. Using new data on school technology usage in every school in California from 1996 to 2000 as well as applic...
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作者：Juster, FT; Lupton, JP; Smith, JP; Stafford, F
作者单位：University of Michigan System; University of Michigan; Federal Reserve System - USA; RAND Corporation
摘要：Using a unique set of household-level panel data, we estimate the effect of capital gains on saving by asset type, controlling for observable and unobservable household-specific fixed effects. The results suggest that the decline in the personal saving rate since 1984 is largely due to the significant capital gains in corporate equities experienced over this period. Over 5-year periods, the effect of capital gains in corporate equities on saving is substantially larger than the effect of capit...
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作者：Glick, Reuven; Guo, Xueyan; Hutchison, Michael
作者单位：Federal Reserve System - USA; Federal Reserve Bank - San Francisco; University of California System; University of California Santa Cruz
摘要：Are countries with unregulated capital flows more vulnerable to currency crises? Efforts to answer this question properly must control for self-selection bias, because countries with liberalized capital accounts may also have sounder economic policies and institutions that make them less likely to experience crises. We employ a matching and propensity-score methodology to address this issue in a panel analysis of developing countries. Our results suggest that, after controlling for sample sele...
