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作者：Saint-Paul, Gilles
作者单位：Paris School of Economics; New York University; New York University Abu Dhabi
摘要：Abstract When policymakers and private agents use models, the economists who design the model have an incentive to alter it in order to influence outcomes in a fashion consistent with their own preferences. I discuss some consequences of the existence of such ideological bias. In particular, I analyze the role of measurement infrastructures such as national statistical institutes, the extent to which intellectual competition between different schools of thought may lead to polarization of view...
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作者：Bandiera, Oriana; Barankay, Iwan; Rasul, Imran
作者单位：University of London; London School Economics & Political Science; University of Pennsylvania; University of London; University College London
摘要：Abstract Many organizations rely on teamwork, and yet field evidence on the impacts of team-based incentives remains scarce. Compared to individual incentives, team incentives can affect productivity by changing both workers' effort and team composition. We present evidence from a field experiment designed to evaluate the impact of rank incentives and tournaments on the productivity and composition of teams. Strengthening incentives, either through rankings or tournaments, makes workers more l...
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作者：Blanchard, Olivier J.; Riggi, Marianna
作者单位：International Monetary Fund; Massachusetts Institute of Technology (MIT)
摘要：Abstract In the 1970s, large increases in the price of oil were associated with sharp decreases in output and large increases in inflation. In the 2000s, even larger increases in the price of oil were associated with much milder movements in output and inflation. Using a structural VAR approach, Blanchard and Gali (in J. Gali and M. Gertler (eds.) 2009, International Dimensions of Monetary Policy, University of Chicago Press, pp. 373-428) argued that this reflected a change in the causal relat...
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作者：Gali, Jordi
作者单位：Pompeu Fabra University; Barcelona School of Economics
摘要：Abstract I revisit the General Theory's discussion of the role of wages in employment determination through the lens of the New Keynesian model. The analysis points to the key role played by the monetary policy rule in shaping the link between wages and employment, and in determining the welfare impact of enhanced wage flexibility. I show that the latter is not always welfare improving.
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作者：Andrews, Martyn J.; Bradley, Steve; Stott, Dave; Upward, Richard
作者单位：University of Manchester; Lancaster University; University of Nottingham
摘要：Abstract We estimate the stock-flow matching model using micro-level data from a well-defined labor market. Using a dataset of complete labor-market histories for both sides of the market, we estimate hazard functions for job-seekers and vacancies. We find that the stock of new vacancies has a significant positive impact on the job-seeker hazard, over and above that of the total stock of vacancies. There is an even stronger robust result for vacancy hazards. Thus we find evidence in favor of s...
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作者：Debortoli, Davide; Nunes, Ricardo
作者单位：University of California System; University of California San Diego
摘要：Abstract The tendency of countries to accumulate public debt has been rationalized in models of political disagreement and lack of commitment. We analyze in a benchmark model how the evolution of public debt is affected by lack of commitment per se. While commitment introduces indeterminacy in the level of debt, lack of commitment creates incentives for debt to converge to specific levels. One of the levels that debt often converges to implies no debt accumulation at all. In a simple example w...
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作者：Serra-Garcia, Marta; van Damme, Eric; Potters, Jan
作者单位：University of California System; University of California San Diego; Tilburg University; Tilburg University; Tilburg University; Tilburg University
摘要：Abstract We compare communication about private information to communication about actions in a one-shot 2-person public good game with private information. The informed player, who knows the exact return from contributing and whose contribution is unobserved, can send a message about the return or her contribution. Theoretically, messages can elicit the uninformed player's contribution, and allow the informed player to free-ride. The exact language used is not expected to matter. Experimental...
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作者：Funk, Patricia; Gathmann, Christina
作者单位：Pompeu Fabra University; Barcelona School of Economics; Ruprecht Karls University Heidelberg
摘要：Abstract Using a new data set on Swiss cantons since 1890, we analyze how the adoption of proportional representation affects fiscal policy. In line with economic theory, we show that proportional systems shift spending toward broad goods (like education and welfare benefits) but decrease spending on geographically targetable goods (like roads). We find little evidence that proportional representation increases the overall size of government. An analysis of the underlying theoretical mechanism...
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作者：Bartling, Bjoern; Fehr, Ernst; Schmidt, Klaus M.
作者单位：University of Zurich; University of Zurich; University of Munich
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作者：Gorodnichenko, Yuriy; Schnitzer, Monika
作者单位：University of California System; University of California Berkeley; University of Munich
摘要：Abstract This paper examines micro-level channels through which financial development can affect such macroeconomic outcomes as level of income. Specifically, we investigate theoretically and empirically how financial constraints affect a firm's innovation activities. Theoretical predictions are tested using unique firm survey data, which provide direct measures for innovations and firm-specific financial constraints, as well as information on shocks to firms' internal funds that serve as firm...
