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作者：Lin, Shu
作者单位：University of Colorado System; University of Colorado Denver
摘要：This study empirically examines the international effects of inflation targeting. Employing a variety of propensity score matching methods, we find strong evidence that inflation targeting has significantly different impacts on exchange rate volatility and international reserves in different country groups. It significantly increases real and nominal exchange rate stability and international reserves in developing countries but lowers them in industrial countries. On average, inflation targeti...
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作者：Oberholzer-Gee, Felix; Waldfogel, Joel; White, Matthew W.
作者单位：Harvard University; University of Pennsylvania
摘要：Why do people frequently cooperate in defiance of their immediate incentives? One explanation is that individuals are conditionally cooperative. As an explanation of behavior in one-shot settings, such preferences require individuals to be able to discern their opponents' preferences. Using data from a television game show, we provide evidence about how individuals implement conditionally cooperative preferences. We show that contestants forgo large sums of money to be cooperative; they cooper...
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作者：Rich, Robert; Tracy, Joseph
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：This paper examines matched point and density forecasts of inflation from the Survey of Professional Forecasters to analyze the relationships among expected inflation, disagreement, and uncertainty. We undertake the empirical analysis within a seemingly unrelated regression framework and derive measures of uncertainty using a decomposition proposed by Wallis (2004, 2005) and by drawing on the concept of entropy. The results offer little evidence that disagreement is a useful proxy for uncertai...
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作者：Feldman, Naomi E.
作者单位：Ben-Gurion University of the Negev
摘要：This paper analyzes a 1992 decrease in U.S. federal income tax withholding that shifted the timing of income tax payments while leaving ultimate tax burdens unchanged. Consequently income typically received as a lump-sum refund on filing a tax return was shifted into the previous year's monthly income. This paper considers the impact of the withholding change in the context of mental accounting and finds a decrease in the probability that households contributed to a tax-preferred retirement ac...
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作者：Glick, Reuven; Taylor, Alan M.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - San Francisco; University of California System; University of California Davis; National Bureau of Economic Research
摘要：Conventional wisdom in economic history suggests that conflict between countries can be enormously disruptive of economic activity, especially international trade. We study the effects of war on bilateral trade with available data extending back to 1870. Using the gravity model, we estimate the contemporaneous and lagged effects of wars on the trade of belligerent nations and neutrals, controlling for other determinants of trade, as well as the possible effects of reverse causality. We find la...
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作者：Hering, Laura; Poncet, Sandra
作者单位：heSam Universite; Universite Pantheon-Sorbonne; Paris School of Economics
摘要：We consider the effect of geography on wages using individual data from 56 Chinese cities. We present a simple new economic geography model that links wages to individual characteristics and market access. The latter is calculated as a transport cost weighted sum of surrounding locations' market capacity. After controlling for individual skills and local factor endowments, we find that a significant fraction of the interindividual differences in returns to labor can be explained by the geograp...
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作者：Payne, A. Abigail; Roberts, Joanne
作者单位：McMaster University; University of Toronto; University of Calgary
摘要：Universities are engaged in many activities, primarily research and teaching. Many states have instituted performance measures that focus on evaluating a university's success in teaching. We suggest that multitasking may be important in this context, and we consider research outcomes after adoption. We find striking results that depend on university status. Research activity is higher at flagship institutions after the adoption of performance measures. Most of this increase in activity is with...
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作者：Black, Sandra E.; Spitz-Oener, Alexandra
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; Humboldt University of Berlin
摘要：In this study, we explore a new approach for analyzing changes in the gender pay gap that uses direct measures of job tasks and gives a comprehensive characterization of how work for men and women has changed in recent decades. Using data from West Germany, we find that women have witnessed relative increases in nonroutine analytic and interactive tasks. The most notable difference between the genders is, however, the pronounced relative decline in routine task inputs among women, driven, at l...
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作者：Coibion, Olivier
作者单位：William & Mary
摘要：I consider the empirical evidence for the sticky information model relative to the basic sticky price model, conditional on historical measures of inflation forecasts. The estimated structural parameters are inconsistent with an underlying sticky information model and the sticky information Phillips curve is statistically dominated by the new Keynesian Phillips curve. I find that the poor performance of the sticky information approach is driven by two key elements. First, the sticky informatio...
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作者：Malamud, Ofer; Pop-Eleches, Cristian
作者单位：University of Chicago; National Bureau of Economic Research; Columbia University
摘要：This paper examines the relative benefits of general education and vocational training during Romania's transition to a market economy. We examine a 1973 educational reform that shifted a large proportion of students from vocational training to general education. Using census and household survey data, we analyze the effect of this policy with a regression discontinuity design. We find that men affected by the policy are significantly less likely to work in manual or craft-related occupations ...
