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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：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：Levchenko, Andrei A.; Pandalai-Nayar, Nitya
作者单位：University of Michigan System; University of Michigan; University of Texas System; University of Texas Austin
摘要：We propose a novel identification scheme for a nontechnology business cycle shock, which we label sentiment. This is a shock orthogonal to identified surprise and news TFP shocks that maximize the short-run forecast error variance of an expectational variable, alternatively a GDP forecast or a consumer confidence index. We then estimate the international transmission of three identified shocks-surprise TFP, news of future TFP, and sentiment-from the United States to Canada. The US sentiment sh...
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作者：Berge, Lars Ivar Oppedal; Bjorvatn, Kjetil; Galle, Simon; Miguel, Edward; Posner, Daniel N.; Tungodden, Bertil; Zhang, Kelly
作者单位：Norwegian School of Economics (NHH); BI Norwegian Business School; University of California System; University of California Berkeley; University of California System; University of California Los Angeles
摘要：Ethnicity has been shown to shape political, social, and economic behavior in Africa, but the underlying mechanisms remain contested. We utilize lab experiments to isolate one mechanism-an individual's bias in favor of coethnics and against non-coethnics-that has been central in both theory and in the conventional wisdom about the impact of ethnicity. We employ an unusually rich research design involving a large sample of 1300 participants from Nairobi, Kenya; the collection of multiple rounds...
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作者：Baudin, Thomas; de la Croix, David; Gobbi, Paula E.
作者单位：IESEG School of Management; Centre National de la Recherche Scientifique (CNRS); CNRS - Institute for Humanities & Social Sciences (INSHS); Universite Paris Cite; Universite Catholique Louvain; Universite Libre de Bruxelles
摘要：Although developing countries are characterized by high average fertility rates, they are as concerned by childlessness as developed countries. Beyond natural sterility, there are two main types of childlessness: one driven by poverty and another by the high opportunity cost of child-rearing. We measure the importance of the components of childlessness with a structural model of fertility and marriage. Deep parameters are identified using census data from 36 developing countries. As average ed...
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作者：Alpanda, Sami; Kabaca, Serdar
作者单位：State University System of Florida; University of Central Florida; Bank of Canada
摘要：This paper evaluates the international spillover effects of large-scale asset purchases (LSAPs) using an estimated two-country dynamic stochastic general-equilibrium model with nominal and real rigidities and portfolio balance effects. Portfolio balance effects arise from imperfect substitutability between short- and long-term bond portfolios in each country, as well as between domestic and foreign bonds within these portfolios. We show that LSAPs in the United States lower long-term yields an...
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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
摘要：Using administrative data on firms and workers in Germany, we quantify the spillover effects of mass layoffs. Our empirical strategy combines matching with an event study approach to trace employment and wages in regions hit by a mass layoff relative to suitable control regions. We find sizable and persistent negative spillover effects on the regional economy: regions, and especially firms producing in the same broad industry as the layoff plant, lose many more jobs than in the initial layoff....
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作者：Andersen, Simon Calmar; Beuchert, Louise; Nielsen, Helena Skyt; Thomsen, Mette Kjaergaard
作者单位：Aarhus University; University of Southern Denmark
摘要：Teacher's aides are used worldwide, in various school systems, although, there is no strong evidence of their impact on student outcomes. We use a randomized trial to challenge this state of evidence. We randomly allocate 105 schools to two types of treatments-aides with or without a teaching degree-compared to a control group. Both types of aides have positive impacts on test scores and the effects are persistent over time for disadvantaged students. Exploratory analyses of mechanisms suggest...
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作者：Olivetti, Claudia; Patacchini, Eleonora; Zenou, Yves
作者单位：Boston College; Cornell University; Monash University
摘要：We study whether a woman's labor supply as a young adult is shaped by the work behavior of her adolescent peers' mothers. Using detailed information on a sample of U.S. teenagers who are followed over time, we find that labor force participation of high school peers' mothers affects adult women's labor force participation, above and beyond the effect of their own mothers. The analysis suggests that women who were exposed to a larger number of working mothers during adolescence are less likely ...
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作者：Baudin, Thomas; de la Croix, David; Gobbi, Paula
作者单位：Universite Paris Cite; IESEG School of Management; Centre National de la Recherche Scientifique (CNRS); CNRS - Institute for Humanities & Social Sciences (INSHS); Universite Catholique Louvain; Universite Libre de Bruxelles
