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作者：Fischer, Martin; Karlsson, Martin; Nilsson, Therese; Schwarz, Nina
作者单位：Karolinska Institutet; University of Duisburg Essen; Lund University; Research Institute of Industrial Economics (IFN)
摘要：We evaluate the impact on earnings, pensions, and further labor market outcomes of two parallel educational reforms increasing instructional time in Swedish primary school. The reforms extended the annual term length and years of compulsory schooling by comparable amounts. We find striking differences in the effects of the two reforms: at 5% the returns to the term length extension were sizeable and benefited broad ranges of the population. The compulsory schooling extension had small (2%) alb...
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作者：Le Lec, Fabrice; Tarroux, Benoit
作者单位：Centre National de la Recherche Scientifique (CNRS); Ecole Normale Superieure de Lyon (ENS de LYON); Universite Claude Bernard Lyon 1; Universite Jean Monnet; Universite Lyon 2; CNRS - Institute for Humanities & Social Sciences (INSHS)
摘要：This paper investigates experimentally how people value choice. Our experiments elicit subjects' valuations of various choice sets (or menus) that differ in size and composition. The comparison of these valuations allows us to assess subjects' preferences between sets and test a number of the theories of preferences over menus proposed in the literature. The results suggest that subjects are choice-averse: the value of a choice set is significantly and robustly lower than that of its preferred...
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作者：Tan, Teck Yong
作者单位：Nanyang Technological University
摘要：This paper studies how reduced oversight creates an incentive for process innovation. With incomplete contracts, tight monitoring of workers creates a ratchet effect of innovation. Under reduced oversight, a worker accrues private knowledge about his innovation, which serves as a substitute for its inalienable property rights. The resulting asymmetric information generates an information rent for the worker, which feeds back as an innovation incentive ex ante. A weak early production incentive...
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作者：Hachula, Michael; Piffer, Michele; Rieth, Malte
作者单位：Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; University of London; Queen Mary University London
摘要：We study the macroeconomic effects of unconventional monetary policy in the euro area using structural vector autoregressions, identified with external instruments. The instruments are based on the common unexpected variation in euro area sovereign yields for different maturities on policy announcement days. We first show that expansionary monetary surprises are effective at lowering public and private interest rates and increasing economic activity, consumer prices, and inflation expectations...
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作者：Kitamura, Shuhei; Lagerlof, Nils-Petter
作者单位：University of Osaka; York University - Canada
摘要：Some of the richest places in the world have very high historical border presence, and are often located in particular geographic environments. In this paperwe compile grid-cell level data on borders between sovereign states in Europe and surrounding areas from 1500 until today to document that state borders tend to be located in rugged and mountainous terrain, by rivers, and where it rains a lot. Moreover, two commonly used measures of economic activity-night lights and population density-are...
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作者：Vogl, Tom S.
作者单位：University of California System; University of California San Diego
摘要：Evolutionary theorists have long noted that intergenerational transmission in fertility may counteract aggregate fertility decline through a process of natural selection. I study this evolutionary process by estimating how intergenerational associations in fertility vary over the fertility transition and feed back into the level of average fertility. Microdata from 40 developing countries indicate that intergenerational persistence breaks down at the onset of the fertility transition but then ...
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作者：Gathmann, Christina; Helm, Ines; Schoenberg, Uta
作者单位：Ruprecht Karls University Heidelberg; Stockholm University; University of London; University College London
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作者：Bianchi, Nicola; Giorcelli, Michela
作者单位：Northwestern University; University of California System; University of California Los Angeles
摘要：This paper studies the effects of university STEM education on innovation and labor market outcomes by exploiting a change in enrollment requirements in Italian STEM majors. University-level scientific education had two direct effects on the development of patents by students who had acquired a STEM degree. First, the policy changed the direction of their innovation. Second, it allowed these individuals to reach top positions within firms and be more involved in the innovation process. STEM de...
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作者：Bharadwaj, Prashant; Lakdawala, Leah K.; Li, Nicholas
作者单位：University of California System; University of California San Diego; Michigan State University; University of Toronto
摘要：Although bans against child labor are a ubiquitous policy tool, there is very little empirical evidence on their effectiveness. In this paper, we examine the consequences of India's landmark legislation against child labor, the Child Labor (Prohibition and Regulation) Act of 1986. Using data from employment surveys conducted before and after the ban, and using age restrictions that determined whom the ban applied to, we show that the relative probability of child employment increases and child...
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作者：Cui, Wei; Radde, Soeren
作者单位：University of London; University College London
摘要：We develop a search-theory of asset liquidity which gives rise to endogenous financing constraints on investment in an otherwise standard dynamic general equilibrium model. Asset liquidity describes the ease of issuance and resaleability of private financial claims, which is the outcome of a costly search-and-matching process for such claims implemented by financial intermediaries. Limited liquidity of private claims creates a role for liquid assets, such as government bonds, to ease financing...
