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作者：Besley, Timothy; Persson, Torsten
作者单位：University of London; London School Economics & Political Science; Canadian Institute for Advanced Research (CIFAR); Stockholm University
摘要：This paper develops a framework to study environmentalism as a cultural phenomenon, namely as reflecting a process of social identification with certain values. The model is used to explain how the shares of environmentalists and materialists in society can coevolve with taxes on emissions to protect society against damages caused by environmental degradation. These policies are determined by electoral competition. However, even though politicians internalize the welfare of those currently ali...
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作者：Michalopoulos, Stelios; Putterman, Louis; Weil, David N.
作者单位：Brown University
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作者：Eyles, Andrew; Machin, Stephen
作者单位：University of London; University College London; University of London; London School Economics & Political Science
摘要：This paper studies the origins of what has become one of the most radical and encompassing programmes of school reform seen in the recent past in advanced countries-the introduction of academy schools to English education. Academies are independent state funded schools that are allowed to run in an autonomous manner outside of local authority control. Almost all academies are conversions from already existent state schools and so are school takeovers that enable more autonomy in operation than...
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作者：Fahn, Matthias; Merlo, Valeria; Wamser, Georg
作者单位：Johannes Kepler University Linz; Eberhard Karls University of Tubingen
摘要：Existing theories of a firm's optimal capital structure seem to fail in explaining why many healthy and profitable firms rely heavily on equity financing, even though benefits associated with debt (like tax shields) appear to be high and the bankruptcy risk low. This holds in particular for firms that show a strong commitment toward their workforce and are popular among employees. We demonstrate that such financing behavior may be driven by implicit arrangements made between a firm and its man...
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作者：Mrazova, Monika; Neary, J. Peter
作者单位：University of Geneva; University of Oxford
摘要：We characterize how firms select between alternative ways of serving a market. First-order selection effects, whether firms enter or not, are extremely robust. Second-order ones, how firms serve a market conditional on entry, are much less so: more efficient firms select the entry mode with lower market-access costs if firms' maximum profits are supermodular in production and market-access costs, but not necessarily otherwise. We derive microfoundations for supermodularity in a range of canoni...
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作者：Alan, Sule; Ertac, Seda
作者单位：University of Essex; Ihsan Dogramaci Bilkent University; Koc University
摘要：We evaluate the impact on competitiveness of a randomized educational intervention that aims to foster grit, a skill that is highly predictive of achievement. The intervention is implemented in elementary schools, and we measure its impact using a dynamic competition task with interim performance feedback. We find that when children are exposed to a worldview that emphasizes the role of effort in achievement and encourages perseverance, the gender gap in the willingness to compete disappears. ...
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作者：Bruhin, Adrian; Fehr, Ernst; Schunk, Daniel
作者单位：University of Lausanne; University of Zurich; Johannes Gutenberg University of Mainz
摘要：We uncover heterogeneity in social preferences with a structural model that accounts for outcome-based and reciprocity-based social preferences and assigns individuals to endogenously determined preferences types. We find that neither at the aggregate level nor when we allow for several distinct preference types do purely selfish types emerge, suggesting that other-regarding preferences are the rule and not the exception. There are three temporally stable other-regarding types. When ahead, all...
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作者：Andrade, Philippe; Cahn, Christophe; Fraisse, Henri; Mesonnier, Jean-Stephane
作者单位：European Central Bank; Bank of France
摘要：We exploit the Eurosystem's longer-term refinancing operations (LTROs) of 2011-2012 to assess whether a large provision of central bank liquidity to banks during a financial crisis has a positive impact on banks' credit supply to firms. We control for credit demand by examining firms that borrow from several banks, in addition to controlling for confounding factors at the level of banks. We find that the LTROs enhanced loan supply: according to our baseline estimate, banks borrowing 1 billion ...
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作者：Bruhin, Adrian; Fehr, Ernst; Schunk, Daniel
作者单位：University of Lausanne; University of Zurich; Johannes Gutenberg University of Mainz
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作者：Michalopoulos, Stelios; Putterman, Louis; Weil, David N.
作者单位：Brown University
摘要：Does a person's historical lineage influence his or her current economic status? Motivated by a large literature in the social sciences stressing the effect of an early transition to agriculture on current economic performance at the country level, we examine the relative contemporary status of individuals as a function of how much their ancestors relied on agriculture during the preindustrial era. We focus on Africa, where-by combining anthropological records of groups with individuallevel su...
