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作者：Aidt, Toke; Asatryan, Zareh; Badalyan, Lusine; Heinemann, Friedrich
作者单位：University of Cambridge; Leibniz Association; Ifo Institut; Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW); Justus Liebig University Giessen; Ruprecht Karls University Heidelberg
摘要：We report robust evidence of a new short-run monetary election cycle: the monthly growth rate of the money supply (M1) around elections is higher than in other months in a sample of low- and middle-income countries. We hypothesize this is related to systemic vote buying. Consistent with this, we find no cycle in authoritarian countries and countries with strong political institutions and a pronounced cycle in elections where international election monitors reported vote buying or in close elec...
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作者：Cattaneo, Matias D.; Crump, Richard K.; Farrell, Max H.; Schaumburg, Ernst
作者单位：Princeton University; Federal Reserve System - USA; Federal Reserve Bank - New York; University of Chicago
摘要：Portfolio sorting is ubiquitous in the empirical finance literature, where it has been widely used to identify pricing anomalies. Despite its popularity, little attention has been paid to the statistical properties of the procedure. We develop a general framework for portfolio sorting by casting it as a nonparametric estimator. We present valid asymptotic inference methods and a valid mean square error expansion of the estimator leading to an optimal choice for the number of portfolios. In pra...
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作者：Gross, Daniel P.
作者单位：Harvard University; National Bureau of Economic Research
摘要：Though fundamental to innovation and essential to many industries and occupations, individual creativity has received limited attention as an economic behavior and has historically proven difficult to study. This paper studies the incentive effects of competition on individuals' creative production. Using a sample of commercial logo design competitions and a novel, content-based measure of originality, I find that intensifying competition induces agents to produce original, untested ideas over...
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作者：Muris, Chris
作者单位：University of Bristol
摘要：In the standard missing data model, data are either complete or completely missing. However, applied researchers face situations with an arbitrary number of strata of incompleteness. Examples include unbalanced panels and instrumental variables settings where some observations are missing some instruments. I propose a model for settings where observations may be incomplete, with an arbitrary number of strata of incompleteness. I derive a set of moment conditions that generalizes those in Graha...
