{"title":"Engineering Growth","authors":"W. Maloney, Felipe Valencia Caicedo","doi":"10.1093/jeea/jvac014","DOIUrl":"https://doi.org/10.1093/jeea/jvac014","url":null,"abstract":"This paper offers the first systematic historical evidence on the role of a central actor in modern growth theory: the engineer. We construct a database on the share of engineers in the labor force during the Second Industrial Revolution (1870–1914) at the county level for the US, and the state and national levels for the Americas. These measures are robustly correlated with income today after controlling for literacy, other types of higher order human capital (college graduates, lawyers, physicians, patenting) and demand side factors, as well as after instrumenting engineering using the 1862 US Land Grant Colleges program. Differences in engineering density in 1880 account for 10% higher US county incomes today, while national disparities in engineering density can explain approximately a quarter of the income divergence in the Americas. To document the mechanisms through which engineering density works, we show how it is correlated with higher rates of technology adoption and structural transformation across intermediate time periods, and with numerous measures of the knowledge economy today.","PeriodicalId":121231,"journal":{"name":"CEPR Discussion Paper Series","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125752532","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Exit vs. Voice","authors":"Eleonora Broccardo, Oliver Hart, Luigi Zingales","doi":"10.2139/ssrn.3671918","DOIUrl":"https://doi.org/10.2139/ssrn.3671918","url":null,"abstract":"We study the relative effectiveness of exit (divestment and boycott) and voice (engagement) strategies in promoting socially desirable outcomes in companies. We show that in a competitive world exit is less effective than voice in pushing firms to act in a socially responsible manner. Furthermore, we demonstrate that individual incentives to join an exit strategy are not necessarily aligned with social incentives, whereas they are when well-diversified investors are allowed to express their voice. We discuss what social and legal considerations might sometimes make exit preferable to voice.","PeriodicalId":121231,"journal":{"name":"CEPR Discussion Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129142195","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
S. Albrecht, Riccardo Ghidoni, E. Cettolin, S. Suetens
{"title":"Exposure to Ethnic Minorities Changes Attitudes to Them","authors":"S. Albrecht, Riccardo Ghidoni, E. Cettolin, S. Suetens","doi":"10.2139/ssrn.3683776","DOIUrl":"https://doi.org/10.2139/ssrn.3683776","url":null,"abstract":"Does exposure to ethnic minorities change the majority’s attitudes towards them? We investigate this question using novel panel data on attitudes from a general-population sample in the Netherlands matched to geographical data on refugees. We find that people who live in neighborhoods of refugees for a sufficiently long time acquire a more positive attitude. Instead, people living in municipalities hosting refugees, but not in their close neighborhood, develop a more negative attitude. The positive neighborhood effect is particularly strong for groups that are likely to have personal contact with refugees suggesting that contact with minorities can effectively reduce prejudice.","PeriodicalId":121231,"journal":{"name":"CEPR Discussion Paper Series","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122414142","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A. Gill, Matthias Heinz, Heiner Schumacher, Matthias Sutter
{"title":"Trustworthiness in the Financial Industry","authors":"A. Gill, Matthias Heinz, Heiner Schumacher, Matthias Sutter","doi":"10.2139/ssrn.3670648","DOIUrl":"https://doi.org/10.2139/ssrn.3670648","url":null,"abstract":"The financial industry has been struggling with widespread misconduct and public mistrust. Here we argue that the lack of trust into the financial industry may stem from the selection of subjects with little, if any, trustworthiness into the financial industry. We identify the social preferences of business and economics students, and follow up on their first job placements. We find that during college, students who want to start their career in the financial industry are substantially less trustworthy. Most importantly, actual job placements several years later confirm this association. The job market in the financial industry does not screen out less trustworthy subjects. If anything the opposite seems to be the case: Even among students who are highly motivated to work in finance after graduation, those who actually start their career in finance are significantly less trustworthy than those who work elsewhere.","PeriodicalId":121231,"journal":{"name":"CEPR Discussion Paper Series","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114825639","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Economic Outcomes of an Ethnic Minority: The Role of Barriers","authors":"Nitsa Kasir, Eran Yashiv","doi":"10.2139/ssrn.3573290","DOIUrl":"https://doi.org/10.2139/ssrn.3573290","url":null,"abstract":"The Arab population in Israel constitutes an ethnic minority, at around 20% of the population. The economy of this minority is characterized by inferior outcomes relative to the Jewish majority by all indicators, including employment, wages, occupational status, social welfare, education, and housing. This paper reviews key data facts and presents a model of barriers to integration facing Arabs in Israel, taking it to the data. The empirical analysis, based on a general equilibrium model of occupational choice with optimizing agents and barriers, points to an increase over time in barriers to the acquisition of human capital in highly skilled occupations, and, concurrently, a reduction in labor market barriers in all occupations. The analysis offers insights relevant to other developed economies with large ethnic minorities.","PeriodicalId":121231,"journal":{"name":"CEPR Discussion Paper Series","volume":"11 6","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"113936316","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Effect of Gender-Targeted Transfers: Experimental Evidence from India","authors":"Ingvild Almås, Vincent Somville, L. Vandewalle","doi":"10.2139/ssrn.3686461","DOIUrl":"https://doi.org/10.2139/ssrn.3686461","url":null,"abstract":"Women are the primary recipients of many welfare programs around the world. Despite frequent claims that targeting women induces beneficial consumption shifting and gender equality, the empirical evidence on the effect of targeting is relatively scarce. We report on a highly powered intervention that randomly allocates weekly transfers to a man or woman within the household. We use detailed financial diaries to look at the impact of the recipient's gender on expenditure, income, saving, nutrition and measures of decision-making. Our results show little evidence for consumption shifting at the household level but indicate that targeted transfers empower female recipients.","PeriodicalId":121231,"journal":{"name":"CEPR Discussion Paper Series","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121334231","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Culture, Institutions and Policy","authors":"T. Persson, G. Tabellini","doi":"10.2139/ssrn.3680457","DOIUrl":"https://doi.org/10.2139/ssrn.3680457","url":null,"abstract":"We review theoretical and empirical research on the dynamic interactions between cultures and institutions. We think about culture as a system of values and about institutions as formalized rules of the game. Our presentation is organized around a simple theoretical framework of political agency, which is gradually expanded so as to introduce new links and feedbacks between culture and institutions.","PeriodicalId":121231,"journal":{"name":"CEPR Discussion Paper Series","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126931162","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Potential Consequences of Post-Brexit Trade Barriers for Earnings Inequality in the UK","authors":"Agnes Norris Keiller, Peter Levell, R. Griffith","doi":"10.1920/wp.ifs.2020.2720","DOIUrl":"https://doi.org/10.1920/wp.ifs.2020.2720","url":null,"abstract":"We examine the distributional consequences of post-Brexit trade barriers on wages in the UK. We quantify changes in trade costs across industries accounting for input-output links across domestic industries and global value chains. We allow for demand substitution by firms and consumers and worker reallocation across industries. We document the impact at the individual and household level. Blue-collar workers are the most exposed to negative consequences of higher trade costs, because they are more likely to be employed in industries that face increases in trade costs, and are less likely to have good alternative employment opportunities available in their local labour markets. Overall new trade costs have a regressive impact with lower-paid workers facing higher exposure than higher-paid workers once we account for the exposure of other household members.","PeriodicalId":121231,"journal":{"name":"CEPR Discussion Paper Series","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125876588","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Risk Sharing within the Firm: A Primer","authors":"M. Pagano","doi":"10.2139/ssrn.3510275","DOIUrl":"https://doi.org/10.2139/ssrn.3510275","url":null,"abstract":"Labor income risk is key to the welfare of most people. This risk is mainly insured “within the firm†and by public institutions, rather than by financial markets. This monograph starts by asking why such insurance is provided within the firm, and what determines its boundaries. It identifies four main constraining factors: availability of a public safety net, moral hazard on the employees’ side, moral hazard on the firms’ side, and workers’ wage bargaining power. These factors explain three empirical regularities: (i) family firms provide more employment insurance than nonfamily firms; (ii) the former pay lower real wages; and (iii) firms provide less employment insurance where public unemployment benefits are more generous. The monograph also explores the connection between risk sharing and firms’ capital structure: greater leverage calls for high wages to compensate employees for greater job risk; nevertheless, firms may want to lever up strategically in order to offset the bargaining power of labor unions. Hence, the distributional conflict between shareholders and workers may limit risk sharing within the firm. By contrast, bondholders and workers are not necessarily in conflict, as both are harmed by firms’ risk-taking. In principle, firms may also insure employees against uncertainty about their own talent, but their capacity to do so is constrained by workers’ inability to commit to their employer: in the presence of labor market competition, high-talent employees will leave unless paid in line with their high productivity, making uncertainty about talent uninsurable. The monograph concludes by showing that risk sharing within firms has declined steadily in the last three decades, and by discussing the financial, competitive, technological and institutional developments that may have conjured this outcome.","PeriodicalId":121231,"journal":{"name":"CEPR Discussion Paper Series","volume":"297 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115215845","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Application Costs and Congestion in Matching Markets","authors":"YingHua He, T. Magnac","doi":"10.1093/ej/ueac038","DOIUrl":"https://doi.org/10.1093/ej/ueac038","url":null,"abstract":"\u0000 A matching market often requires recruiting agents, or ‘programmes,’ to costly screen ‘applicants,’ and congestion increases with the number of applicants to be screened. We investigate the role of application costs: Higher costs reduce congestion by discouraging applicants from applying to certain programmes; however, they may harm match quality. In a multiple-elicitation experiment conducted in a real-life matching market, we implement variants of the Gale-Shapley Deferred-Acceptance mechanism with different application costs. Our experimental and structural estimates show that a (low) application cost effectively reduces congestion without harming match quality. JEL codes: C78, D47, D50, D61, I21","PeriodicalId":121231,"journal":{"name":"CEPR Discussion Paper Series","volume":"26 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"113934744","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
求助内容：
应助结果提醒方式：
京公网安备 11010802042870号
