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作者：Hennig-Schmidt, Heike; Rockenbach, Bettina; Sadrieh, Abdolkarim
作者单位：University of Bonn; University of Erfurt; Otto von Guericke University
摘要：We present a field experiment to assess the effect of own and peer wage variations on actual work effort of employees with hourlywages. Work effort neither reacts to an increase of the own wage, nor to a positive or negative peer comparison. This result seems at odds with numerous laboratory experiments that show a clear own wage sensitivity on effort. In an additional real-effort laboratory experiment we show that explicit cost and surplus information that enables an exact calculation of an e...
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作者：Fabbri, Daniela
作者单位：University of Amsterdam
摘要：This paper investigates the economic effects on firms' policies of differences in law enforcement. We find that in judicial districts where trials are longer, bank financing is more costly and firms are smaller. However, we do not find any significant relation between law enforcement and firms' leverage ratio. We rationalize our results within a two-region dynamic general equilibrium model with asymmetric information and collateralized credit contracts. We find that a stronger enforcement of c...
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作者：Tabellini, Guido
作者单位：Bocconi University; Bocconi University
摘要：Does culture have a causal effect on economic development? The data on European regions suggest that it does. Culture is measured by indicators of individual values and beliefs, such as trust and respect for others, and confidence in individual self determination. To isolate the exogenous variation in culture, we rely on two historical variables used as instruments: the literacy rate at the end of the 19th century, and the political institutions in place over the past several centuries. The po...
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作者：Booth, Alison; Coles, Melvyn
作者单位：Australian National University; University of Essex
摘要：Societies are characterized by customs governing the allocation of non-market goods such as marital partnerships. We explore how such customs affect the educational investment decisions of young singles and the subsequent joint labor supply decisions of partnered couples. We consider two separate matching paradigms-one where partners marry for money and the other where partners marry for romantic reasons orthogonal to productivity or debt. Whereas marrying for money generates greater investmen...
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作者：Kuester, Keith; Wieland, Volker
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Philadelphia; Goethe University Frankfurt
摘要：In this paper, we aim to design a monetary policy for the euro area that is robust to the high degree of model uncertainty at the start of monetary union and allows for learning about model probabilities. To this end, we compare and ultimately combine Bayesian and worst-case analysis using four reference models estimated with pre-European Monetary Union (EMU) synthetic data. We start by computing the cost of insurance against model uncertainty, that is, the relative performance of worst-case o...
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作者：McKenzie, David; Gibson, John; Stillman, Steven
作者单位：University of Waikato
摘要：How much do migrants stand to gain in income from moving across borders? Answering this question is complicated by non-random selection of migrants from the general population, which makes it hard to obtain an appropriate comparison group of non-migrants. New Zealand allows a quota of Tongans to immigrate each year with a random ballot used to choose among the excess number of applicants. A unique survey conducted by the authors allows experimental estimates of the income gains from migration ...
