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作者：Cahuc, Pierre; Carcillo, Stephane; Patault, Berengere; Moreau, Flavien
作者单位：Institut d'Etudes Politiques Paris (Sciences Po); Institut d'Etudes Politiques Paris (Sciences Po); Organisation for Economic Co-operation & Development (OECD); University of Amsterdam; International Monetary Fund
摘要：This paper documents the existence of judge-specific differences on granting compensation for wrongful dismissal and shows that their consequences are different for small low-performing firms than for other firms. Pro-worker judge bias reduces job creation for all firms, increases the destruction of permanent jobs in small and low-performing firms but reduces it in large high-performing firms. Pro-worker bias reduces employment and survival for small and low-performing firms but has no signifi...
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作者：Margaris, Panos; Wallenius, Johanna
作者单位：Concordia University - Canada; Stockholm School of Economics
摘要：In this paper, we develop a life cycle model that features pecuniary and non-pecuniary investments in health in order to rationalize the socioeconomic gradients in health and life expectancy in the United States. Agents accumulate health capital, which affects labor productivity, utility, the distribution of medical spending shocks, and life expectancy. We find that unequal health insurance coverage plays a negligible role in generating the observed gaps in health and longevity. Universal heal...
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作者：Troya-Martinez, Marta; Wren-Lewis, Liam
作者单位：New Economic School; INRAE
摘要：Relational contracts are typically modeled as being between a principal and an agent, such as a firm owner and a supplier. Yet, in a variety of organizations, relationships are overseen by an intermediary such as a manager. Such arrangements open the door for collusion between the manager and the agent. This paper develops a theory of such managed relational contracts. We show that managed relational contracts differ from principal-agent ones in important ways. First, kickbacks from the agent ...
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作者：Choukhmane, Taha; Coeurdacier, Nicolas; Jin, Keyu
作者单位：Massachusetts Institute of Technology (MIT); University of London; London School Economics & Political Science
摘要：We investigate whether the one-child policy has contributed to the rise in China's household saving rate and human capital in recent decades. In a life-cycle model with intergenerational transfers and human capital accumulation, fertility restrictions lower expected old-age support coming from children-inducing parents to raise saving and education investment in their offspring. Quantitatively, the policy can account for at least 30% of the rise in aggregate saving. Using the birth of twins un...
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作者：Goldluecke, Susanne; Kranz, Sebastian
作者单位：University of Konstanz; Ulm University
摘要：Game-theoretic analysis of relational contracts typically studies Pareto optimal equilibria. We illustrate how this equilibrium selection rules out very intuitive hold-up concerns in stochastic games with long-term decisions. The key problem is that Pareto optimal equilibria, even if satisfying renegotiation-proofness, do not reflect plausible concerns about how today's actions affect future bargaining positions within the relationship. We propose and characterize an alternative equilibrium se...
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作者：Pei, Guangyu
作者单位：Chinese University of Hong Kong
摘要：The pessimistic bias and the cross-sectional dispersion of households' subjective beliefs heighten during recessions. We provide empirical evidence for a dominant non-inflationary aggregate demand shock that accounts for the bulk of business-cycle fluctuations not only in real quantities but also in (1) pessimism-to what degree households are more pessimistic than the rational expectation benchmark and (2) disagreement-the cross-sectional dispersion of households' beliefs. To rationalize the e...
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作者：Dinarte-Diaz, Lelys; Egana-delSol, Pablo
作者单位：The World Bank; Universidad del Desarrollo
摘要：Violence and delinquency levels in Central America are among the highest in the world and constrain human capital acquisition. We designed and conducted a randomized experiment in El Salvador to measure the impacts of an after-school program aimed at reducing school violence. The program combines a behavioral intervention with extracurricular activities for 10-16 year old students. We find the program reduced the participants' violent behavior both inside and outside of school and indirectly i...
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作者：Malcomson, James M.
作者单位：University of Oxford
摘要：With relational contracts, increased uncertainty with no change in factor prices is shown to reduce investment in the long run even if the parties are risk-neutral. This contrasts with models based on the impact of financial risk on the cost of capital and on the option value arising from irreversible investment. For the latter, Bloom et al. (Econometrica, 2018) find that a negative first-moment shock, in addition to increased uncertainty, best matches the data. This paper develops a relationa...
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作者：Gallen, Yana
作者单位：University of Chicago; Aarhus University
摘要：Using Danish matched employer-employee data, I compare the relative pay of men and women to their relative productivity as measured by production function estimation. I find that the gender productivity gap is 8%, implying that almost two thirds of the residual gender wage gap is due to productivity differences between men and women. Motherhood plays an important role, yet it also reveals a puzzle: The pay gap for mothers is entirely explained by productivity, whereas the gap for non-mothers i...
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作者：Jia, Ruixue; Roland, Gerard; Xie, Yang
作者单位：University of California System; University of California San Diego; University of California System; University of California Berkeley; University of California System; University of California Riverside
摘要：Tobetter understand institutional differences across space and time, we propose a two-dimensional framework of the power structure among three players in society: the degree of absolute power of the Ruler over the Elites and the People, and the degree of asymmetry between the latter two in terms of their everyday rights and power. Within this framework, we show that a more absolutist Ruler prefers a more balanced Elite-People relationship. This theory helps in particular to reconcile views on ...
