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作者：Basu, Susanto; Pascali, Luigi; Schiantarelli, Fabio; Serven, Luis
作者单位：Boston College; Pompeu Fabra University; Barcelona School of Economics
摘要：We show that the welfare of a country's infinitely lived representative consumer is summarized, to a first order, by total factor productivity (TFP), appropriately defined, and by the capital stock per capita. The result holds for both closed and open economies, regardless of the type of production technology and the degree of product market competition. Welfare-relevant TFP needs to be constructed with prices and quantities as perceived by consumers, not firms. Thus, factor shares need to be ...
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作者：Maloney, William F.; Caicedo, Felipe Valencia
作者单位：The World Bank; University of British Columbia
摘要：This paper offers the first systematic historical evidence on the role of a central actor in modern growth theory: the engineer. We construct a database on the share of engineers in the labor force during the Second Industrial Revolution (1870-1914) at the county level for the United States and the state and national levels for the Americas. These measures are robustly correlated with income today after controlling for literacy, other types of higher-order human capital (college graduates, law...
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作者：van Veldhuizen, Roel
作者单位：Lund University
摘要：A long line of laboratory experiments has found that women are less likely to sort into competitive environments. Although part of this effect may be explained by gender differences in risk attitudes and self-confidence, previous studies have attributed the majority of the gender gap to gender differences in a competitiveness trait. I re-examine this result using a novel experiment that allows me to separate competitiveness from alternative explanations using causal treatments. In contradictio...
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作者：Dragusanu, Raluca; Montero, Eduardo; Nunn, Nathan
作者单位：University of Chicago; Harvard University; Canadian Institute for Advanced Research (CIFAR); University of British Columbia
摘要：We study the effects of Fair Trade (FT) certification of coffee on producers and households in Costa Rica. Examining the production dynamics of all Costa Rican coffee mills from 1999 to 2014, we find that when global coffee prices are lower and the FT guaranteed minimum price is binding, FT certification is associated with a higher sales price, greater sales, and more revenues. We also find that certification reduces the probability of a mill closing down and exiting the industry. Looking at h...
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作者：Gonzalo Llosa, Luis; Venkateswaran, Venky
作者单位：Pontificia Universidad Catolica del Peru; New York University
摘要：Do private incentives to acquire information reflect the full social value of such information? We show that the answer to this question is typically negative in a canonical business cycle setting, where firms set prices under imperfect information about aggregate productivity. The wedge between private and social values of information is related to market power and ex-post inefficiencies in the use of information. The first reduces the private value of information (relative to its social valu...
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作者：Dauth, Wolfgang; Findeisen, Sebastian; Moretti, Enrico; Suedekum, Jens
作者单位：Otto Friedrich University Bamberg; University of Konstanz; University of California System; University of California Berkeley
摘要：Using administrative German data, we show that large cities allow for a more efficient matching between workers and firms and this has important consequences for geographical inequality. Specifically, the match between high-quality workers and high-quality plants is significantly tighter in large cities relative to small cities. Wages in large cities are higher not only because of the higher worker quality but also because of a stronger assortative matching. Strong assortative matching in larg...
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作者：Arias, Eric; Larreguy, Horacio; Marshall, John; Querubin, Pablo
作者单位：Instituto Tecnologico Autonomo de Mexico; Columbia University; New York University
摘要：Effective policy-making requires that voters avoid electing malfeasant politicians. However, informing voters of incumbent malfeasance in corrupt contexts may not reduce incumbent support. As our simple learning model shows, electoral sanctioning is limited where voters already believed incumbents to be malfeasant, while information's effect on turnout is non-monotonic in the magnitude of reported malfeasance. We conducted a field experiment in Mexico that informed voters about malfeasant mayo...
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作者：Cui, Wei
作者单位：University of London; University College London
摘要：This paper studies the macroeconomic effects of capital reallocation with financial shocks. I develop a model in which firms face borrowing constraints, idiosyncratic productivity shocks, and idiosyncratic liquidation costs. The idiosyncratic risks of productivity and liquidation costs generate an option value of staying in business and a liquidation delay for unproductive firms. A new feature arises from the delay. Unproductive firms that are not liquidated increase their leverage over time, ...
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作者：Attanasio, Orazio; Baker-Henningham, Helen; Bernal, Raquel; Meghir, Costas; Pineda, Diana; Rubio-Codina, Marta
作者单位：Yale University; Norwegian School of Economics (NHH); Bangor University; University West Indies Mona Jamaica; Universidad de los Andes (Colombia); Inter-American Development Bank
摘要：Early childhood development is becoming the focus of policy worldwide. However, the evidence on the effectiveness of scalable models is scant, particularly when it comes to infants in developing countries. In this paper, we describe and evaluate with a cluster-Randomized Controlled Trial an intervention designed to improve the quality of child stimulation within the context of an existing parenting program in Colombia, known as FAMI. The intervention improved children's development by 0.16 of ...
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作者：Zhang, Donghai
作者单位：University of Bonn
摘要：Monetary policy shocks affect interest rates at long horizons (10 years or more). Furthermore, the private sectoras real GDP forecasts are revised upward in response to a monetary tightening. These facts challenge the prevailing theories in academic and policy circles. In this paper, I propose a micro-founded model to rationalize those facts, based on the signaling channel of monetary policy. I consider a framework where the central bank has private information about future economic conditions...
