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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：Devereux, Michael B.; Hnatkovska, Viktoria V.
作者单位：University of British Columbia
摘要：Models of risk-sharing predict that relative consumption growth rates are positively related to changes in real exchange rates. We investigate this hypothesis using a new multicountry and multiregional data set. Within countries, we find evidence for risk-sharing: episodes of high relative regional consumption growth are associated with regional real exchange rate depreciation. Across countries, however, the association is reversed: relative consumption and real exchange rates are negatively c...
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作者：Lieli, Robert P.; Nieto-Barthaburu, Augusto
作者单位：Central European University; Universidad Nacional de Tucuman
摘要：We study the existence of equilibria and the information content of prices in futures markets where the probability of future payoffs can be altered by an intervening agent who acts in response to the market price, hence creating a feedback effect. We focus on the market with the simplest possible structure: traders betting on the occurrence of a future event by buying or selling Arrow-Debreu securities (one dollar claims contingent on a binary outcome). We find that in the presence of feedbac...
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作者：Duarte, Margarida; Restuccia, Diego
作者单位：University of Toronto
摘要：The relative price of services rises with development. A standard interpretation of this fact is that productivity differences across countries are larger in manufacturing than in services. The service sector comprises heterogeneous categories and we document that many disaggregated service categories feature a negative income elasticity of relative prices. We divide service industries into two broad categories based on the income gradient of its relative price: traditional services with posit...
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作者：Carozzi, Felipe
作者单位：University of London; London School Economics & Political Science
摘要：During the housing bust of 2008-2009, housing prices and transaction volumes fell across the United Kingdom. Although the drop in prices was similar across housing types, transaction volumes fell more for units at the lower end of the market. I document this fact and provide panel and instrumental variable estimates showing its link with tightening credit conditions in England and Wales during 2008. I then use an overlapping-generation framework to relate the change in the composition of sales...
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作者：Ohlsson, Henry; Roine, Jesper; Waldenstrom, Daniel
作者单位：Sveriges Riksbank; Uppsala University; Stockholm School of Economics; Paris School of Economics; Research Institute of Industrial Economics (IFN)
摘要：We estimate the importance of inherited wealth in Sweden over the past 200 years. Inheritance is measured both as the annual inheritance flow divided by national income and as the share of inherited wealth in all private wealth. In the 19th century, Sweden differs from France and the United Kingdom in having much lower inheritance-income flows, but at the same time exhibiting equally large shares of inherited wealth in total wealth. This pattern is in line with Sweden at the time being a poor ...
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作者：Camera, Gabriele; Goldberg, Dror; Weiss, Avi
作者单位：Chapman University System; Chapman University; University of Bologna; Open University Israel; Bar Ilan University
摘要：The theory of money assumes decentralized bilateral exchange and excludes centralized multilateral exchange. However, endogenizing the exchange process is critical for understanding the conditions that support the use of money. We develop a traveling game to study the emergence of decentralized and centralized exchange, theoretically and experimentally. Players located on separate islands can either trade locally, or pay a cost to trade elsewhere, so decentralized and centralized markets can b...
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作者：Muto, Nozomu; Shirata, Yasuhiro; Yamashita, Takuro
作者单位：Yokohama National University; Otaru University of Commerce; Universite de Toulouse
摘要：We study an auctionthat maximizes the expected social surplus under an upper-bound constraint on the seller's expected revenue, which we call a revenue cap. Such a constrained-efficient auction may arise, for example, when (i) the auction designer is pro-buyer, that is, he maximizes the weighted sum of the buyers' and seller's auction payoffs, where the weight for the buyers is greater than that for the seller; (ii) the auction designer maximizes the (unweighted) total surplus in a multiunit a...
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作者：Cust, James; Harding, Torfinn
作者单位：The World Bank; Norwegian School of Economics (NHH)
摘要：We provide evidence that institutions have a strong influence over where oil and gas exploration takes place. We utilise a global data set on the location of exploration wells and national borders. This allows for a regression discontinuity design with the identifying assumption that the position of borders was determined independently of geology. In order to break potential simultaneity between borders, institutions, and activities in the oil sector, we focus on drilling that occurred after t...
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作者：Crost, Benjamin; Felter, Joseph H.
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; Stanford University
摘要：Many experts see a move toward high-value export crops, such as fruits and vegetables, as an important opportunity for economic growth and poverty reduction, but little is known about the effects of export crops in fragile and conflict-affected countries. We exploit movements in world market prices combined with geographic variation in crop production to show that increases in the value of bananas, the country's biggest export crop, caused an increase in conflict violence and insurgent-control...
