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作者：Carpenter, Jeffrey P.; Matthews, Peter Hans
作者单位：Middlebury College
摘要：The enforcement of social norms often requires that unaffected third parties sanction offenders. Given the renewed interest of economists in norms, the literature on third-party punishment is surprisingly thin. In this paper, we report the results of an experiment designed to replicate the anger-based punishment of directly affected second parties and evaluate two distinct explanations for third-party punishment: indignation and group reciprocity. We find evidence in favor of both, with the ca...
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作者：Durante, Ruben; Knight, Brian
作者单位：Institut d'Etudes Politiques Paris (Sciences Po); Brown University
摘要：This paper examines whether and how viewers respond to changes in partisan bias in media news. We use data from Italy, where the main private television network is owned by Silvio Berlusconi, the leader of the center-right coalition, and the public television corporation is largely controlled by the ruling coalition. We first document that after the 2001 national elections, when the control of the government moved from the center-left to the center-right, news content on public television shif...
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作者：Guvenen, Fatih; Kuruscu, Burhanettin
作者单位：University of Minnesota System; University of Minnesota Twin Cities; University of Toronto
摘要：In this paper, we propose an analytically tractable overlapping-generations model of human capital accumulation and study its implications for the evolution of the US wage distribution from 1970 to 2000. The key feature of the model, and the only source of heterogeneity, is that individuals differ in their ability to accumulate human capital. Therefore, wage inequality results only from differences in human capital accumulation. We examine the response of this model to skill-biased technical c...
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作者：Hatfield, John William; Padro i Miquel, Gerard
作者单位：Stanford University; University of London; London School Economics & Political Science
摘要：We revisit the classic problem of tax competition in the context of federal nations, and derive a positive theory of partial decentralization. A capital poor median voter chooses to use redistributive capital taxes to provide public goods. The expectation of high capital taxes, however, results in a small capital stock which lowers returns to redistribution. The median voter therefore wants to commit to a lower level of capital taxes. She does so by setting a partial degree of decentralization...
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作者：Hoerdahl, Peter; Tristani, Oreste
作者单位：Bank for International Settlements (BIS); European Central Bank
摘要：This paper estimates the size and dynamics of inflation risk premia in the euro area, based on a joint model of macroeconomic and term structure dynamics. Information from both nominal and index-linked yields is used in the empirical analysis. Our results indicate that the inflation risk premium on euro area 10-year nominal yields was approximately equal to 20 basis points on average over the 19992007 period. The inflation premium has also been subject to moderate, but statistically significan...
