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作者：Gabriel, Ricardo Duque; Klein, Mathias; Pessoa, Ana Sofia
作者单位：University of Bonn; Sveriges Riksbank
摘要：Using a newly assembled rich dataset at the regional level, this paper provides novel empirical evidence on the effects of fiscal policy in the Eurozone. Our baseline estimates reveal a government spending relative output multiplier around 2, an employment multiplier of 1.4, and a cost per job created of approximately euro30,000. Moreover, we find that a regional fiscal stimulus leads to a significant increase in private investment, productivity, and durable consumption. The labor share also i...
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作者：Merilainen, Jaakko; Mitrunen, Matti; Virkola, Tuomo
作者单位：Instituto Tecnologico Autonomo de Mexico; University of Helsinki; VATT Institute for Economic Research
摘要：This paper employs newly collected historical data from Finland to present evidence of historically contingent, long-run consequences of a famine. We document high levels of local inequality in terms of income and land distribution until a violent uprising in 1918. These inequalities partly originated from the famine of 1866-1868, which increased the concentration of land and power to large landowners. We further show that regions with more exposure to the famine had more labor coercion by the...
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作者：Zhang, Hongliang; Zhang, Junsen; Zhang, Ning
作者单位：Zhejiang University; University of Oxford
摘要：In the mass movement of sending urban youth to the countryside during China's Cultural Revolution, many families with multiple age-eligible children were forced to make a send-down choice among the siblings. We exploit this rare social experiment and employ data on urban twins in China to investigate the effect of childhood send-down experience on children's old-age support to parents. We find that compared with their twin siblings who had stayed in the city, send-downs were less likely to mak...
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作者：Battisti, Michele; Dustmann, Christian; Schoenberg, Uta
作者单位：University of Glasgow; University of London; University College London; University of London; University College London
摘要：This paper investigates the effects of technological and organizational change (T&O) on jobs and workers. We show that although T&O reduces firm demand for routine relative to abstract task-based jobs, affected workers do not face higher probability of non-employment or lower earnings growth than unaffected workers. Rather, firms that adopt T&O offer routine workers retraining opportunities to upgrade to more abstract jobs. Older workers form an important exception: T&O increases the risk that...
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作者：Blasutto, Fabio
作者单位：Universite Libre de Bruxelles
摘要：In this paper, I analyze the determinants of cohabitation, marriage, and divorce in the USA. I first document that college graduates are more likely to marry, and less likely to cohabit and divorce, than non-college educated individuals. To account for these facts within a unified framework, I build and estimate a life-cycle model of partnership formation and dissolution where income processes differ by gender and education. I find that the main driver of education-based differences in mating ...
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作者：Eilat, Ran; Eliaz, Kfir
作者单位：Ben-Gurion University of the Negev; Tel Aviv University; Utah System of Higher Education; University of Utah
摘要：We consider the problem faced by a group of players who bargain over what public signal to acquire before deciding on a collective action. The players differ in their privately known state-dependent payoffs from taking the action, and therefore differ also in their willingness to pay for the public signal. We take a mechanism design approach to characterizing the efficient frontier of outcomes achievable via bargaining over information. We identify novel distortions in the optimal information ...
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作者：Chone, Philippe; Linnemer, Laurent; Verge, Thibaud
作者单位：Institut Polytechnique de Paris; ENSAE Paris
摘要：Double marginalization is a robust phenomenon in procurement under asymmetric information when sophisticated contracts can be implemented. In this context, vertical integration causes merger-specific elimination of double marginalization but biases the make-or-buy decision against independent suppliers. If the buyer has full bargaining power over prices and quantities, a vertical merger benefits final consumers even when it results in the exclusion of efficient suppliers. If on the contrary th...
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作者：Maican, Florin G.; Orth, Matilda; Roberts, Mark J.; Vuong, Van Anh
作者单位：University of Gothenburg; Research Institute of Industrial Economics (IFN); Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Maastricht University
摘要：This article estimates a dynamic structural model of firm R&D investment in twelve Swedish manufacturing industries and uses it to measure rates of return to R&D and to simulate the impact of trade restrictions on the investment incentives. Export market profits are a substantial source of the expected return to R&D. R&D spending is found to have a larger impact on firm productivity in the export market than in the domestic market. Counterfactual simulations show that trade restrictions lower ...
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作者：Juvenal, Luciana; Monteiro, Paulo Santos
作者单位：International Monetary Fund; University of York - UK
摘要：We consider the canonical trade model with heterogeneous firms, love for variety and trade costs, and integrate it in the consumption CAPM model. This yields a structural gravity equation that includes an additional factor related to risk premia. Empirical evidence based on firm-level data confirms the importance of cross-sectional heterogeneity in risk and time-varying risk premia to shape bilateral trade flows. The structural gravity model augmented to account for fluctuations in risk premia...
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作者：de la Croix, David; Docquier, Frederic; Fabre, Alice; Stelter, Robert
作者单位：Universite Catholique Louvain; Centre for Economic Policy Research - UK; University of Luxembourg; Centre National de la Recherche Scientifique (CNRS); Aix-Marseille Universite; University of Basel; Max Planck Society
摘要：We argue that market forces shaped the geographic distribution of upper-tail human capital across Europe during the Middle Ages, and contributed to bolstering universities at the dawn of the Humanistic and Scientific Revolutions. We build a unique database of thousands of scholars from university sources covering all of Europe, construct an index of their ability, and map the academic market in the medieval and early modern periods. We show that scholars tended to concentrate in the best unive...
