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作者：Miller, Amalia R.; Segal, Carmit
作者单位：University of Virginia; University of Zurich
摘要：This paper exploits variation in the timing and outcomes of employment discrimination lawsuits against U.S. law enforcement agencies to estimate the cumulative and persistent employment effects of temporary externally imposed affirmative action (AA). We find that AA increased black employment at all ranks by 4.5 to 6.2 percentage points relative to national trends. We also find no erosion of these employment gains in the fifteen years following AA termination, although black employment growth ...
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作者：Peter, Klara Sabirianova; Svejnar, Jan; Terrell, Katherine
作者单位：University of North Carolina; University of North Carolina Chapel Hill; Center for Economic & Policy Research (CEPR); Charles University Prague; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Columbia University
摘要：Economic development implies that the efficiency of firms in developing countries starts approaching that of firms from advanced economies. Various development policies have been pursued to achieve this convergence. We test for this convergence in two economies that represent alternative models of implementing market-oriented development policies: the Czech Republic and Russia. Using 1992-2000 panel data on virtually all medium and large industrial firms in each country and accounting for endo...
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作者：Hamilton, James D.; Owyang, Michael T.
作者单位：University of California System; University of California San Diego; Federal Reserve System - USA; Federal Reserve Bank - St. Louis
摘要：This paper develops a framework for inferring common Markov-switching components in panel data sets with large cross-section and time series dimensions. We study similarities and differences across U. S. states in the timing of business cycles. We hypothesize that there exists a small number of cluster designations, with individual states in a given cluster sharing certain business cycle characteristics. We find that although oil-producing and agricultural states can sometimes experience a sep...
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作者：Holly, Sean; Petrella, Ivan
作者单位：University of Cambridge; University of London; Birkbeck University London
摘要：This paper argues that factor demand linkages can be important for the transmission of both sectoral and aggregate shocks. We show this using a panel of highly disaggregated manufacturing sectors together with sectoral structural VARs. When sectoral interactions are explicitly accounted for, a contemporaneous technology shock to all manufacturing sectors implies a positive response in both output and hours at the aggregate level. Otherwise there is a negative correlation, as in much of the exi...
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作者：Dovern, Jonas; Fritsche, Ulrich; Slacalek, Jiri
作者单位：University of Hamburg; European Central Bank
摘要：We investigate determinants of disagreement-cross-sectional dispersion of individual forecasts-about key economic indicators. Disagreement about economic activity, in particular about GDP growth, has a distinct dynamic from disagreement about prices: inflation and interest rates. Disagreement about GDP growth intensifies strongly during recessions. Disagreement about prices rises with their level, declines under independent central banks, and both its level and its sensitivity to macroeconomic...
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作者：Lindqvist, Erik
作者单位：Stockholm School of Economics; Research Institute of Industrial Economics (IFN)
摘要：This paper studies the relationship between height and leadership. Using data from a representative sample of Swedish men, I document that tall men are significantly more likely to attain managerial positions. An increase in height by 10 centimeters (3.94 inches) is associated with a 2.2 percentage point increase in the probability of holding a managerial position. Selection into managerial positions explains about 15% of the unconditional height-wage premium. However, about half of the height...
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作者：Bikker, Jacob A.; Shaffer, Sherrill; Spierdijk, Laura
作者单位：European Central Bank; De Nederlandsche Bank NV; Utrecht University; Utrecht University; University of Wyoming; Australian National University; University of Groningen
摘要：The Panzar-Rosse test has been widely applied to assess competitive conduct, often in specifications controlling for firm scale or using a price equation. We show that neither a price equation nor a scaled revenue function yields a valid measure for competitive conduct. Moreover, even an unscaled revenue function generally requires additional information about costs and market equilibrium to infer the degree of competition. Our theoretical findings are confirmed by an empirical analysis of com...
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作者：Bogan, Vicki L.
作者单位：Cornell University
摘要：The capital structure of lending institutions has become an increasingly prominent issue in the world of finance. Contemporaneously, microfinance institutions (MFIs) have risen to the forefront as invaluable lending institutions in the development process. Since capital constraints have hindered the expansion of microfinance programs and microfinance organizations have had various degrees of sustainability, the question of how best to finance these organizations is a key issue. This paper expl...
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作者：Corsetti, Giancarlo; Meier, Andre; Mueller, Gernot J.
作者单位：University of Cambridge; Center for Economic & Policy Research (CEPR); International Monetary Fund; University of Bonn
摘要：The short-run effects of fiscal policy depend not only on current tax and spending choices, but also on expectations about future policy adjustment. While general equilibrium models typically restrict medium-term adjustment to taxation, we highlight the importance of government spending dynamics. First, we provide time series evidence for the United States suggesting that an exogenous increase in government spending prompts a rise in public debt, followed over time by a reduction in spending b...
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作者：Campante, Filipe R.; Chor, Davin
作者单位：Harvard University; Singapore Management University
摘要：We investigate how the link between individual schooling and political participation is affected by country characteristics. Using individual survey data, we find that political participation is more responsive to schooling in land-abundant countries and less responsive in human capital-abundant countries, even while controlling for country political institutions and cultural attitudes. We find related evidence that political participation is less responsive to schooling in countries with a hi...
