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Preying on the young: Intergenerational conflict, rent seeking and growth 掠夺年轻人：代际冲突、寻租和增长
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-01-27 DOI: 10.1016/j.euroecorev.2025.104959
Ilias Boultzis
{"title":"Preying on the young: Intergenerational conflict, rent seeking and growth","authors":"Ilias Boultzis","doi":"10.1016/j.euroecorev.2025.104959","DOIUrl":"10.1016/j.euroecorev.2025.104959","url":null,"abstract":"<div><div>This paper argues that the distribution of political power across generations in democracies affects rent seeking and growth. The basis for this argument is that it takes time to acquire the skills and connections that are necessary to collect rents. As a result, mostly older individuals can benefit from rent seeking. Consequently, the old use their political power to induce more rents. This activity increases government spending, which crowds out investment, reduces growth and generates rents. The paper explores these ideas, with the help of an infinite overlapping generations model, with probabilistic voting and time consistent government policy. A calibration of the model indicates that it is consistent with key economic features of OECD countries.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"173 ","pages":"Article 104959"},"PeriodicalIF":2.8,"publicationDate":"2025-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143148877","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Explaining institutional technology 解释制度技术
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-01-27 DOI: 10.1016/j.euroecorev.2025.104968
Jason Potts , Kurt Dopfer , Bill Tulloh
{"title":"Explaining institutional technology","authors":"Jason Potts ,&nbsp;Kurt Dopfer ,&nbsp;Bill Tulloh","doi":"10.1016/j.euroecorev.2025.104968","DOIUrl":"10.1016/j.euroecorev.2025.104968","url":null,"abstract":"<div><div>This paper offers a review and several refinements and extensions of <em>Explaining Technology</em>, by Koppl et al. (2023), which develops a combinatorial theory of the evolution of technology. First, we suggest that the mechanism of tinkering can be formulated in the theory of user innovation. Second, we propose that a useful refinement is to focus on institutional technologies. This offers a better explanation of emergent levels of evolutionary selection, or major transitions, and also adapts their framework to better explain the nature of a digital economy. Third, we propose a more ambitious line of generalisation from explaining technology to explaining knowledge. We suggest this is possible from the rubric of the new ‘physics of information’ in constructor theory, assembly theory and Bayesian mechanics.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"173 ","pages":"Article 104968"},"PeriodicalIF":2.8,"publicationDate":"2025-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143098842","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
On explaining why the (human) world is rich 解释为什么（人类）世界是富有的
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-01-27 DOI: 10.1016/j.euroecorev.2025.104969
Bart J. Wilson
{"title":"On explaining why the (human) world is rich","authors":"Bart J. Wilson","doi":"10.1016/j.euroecorev.2025.104969","DOIUrl":"10.1016/j.euroecorev.2025.104969","url":null,"abstract":"<div><div>The wealth of the modern world is a natural historical marvel. Explaining it has traditionally been the purview of economic historians, as exemplified by the recent book <em>How the World Became Rich</em> by Mark Koyama and Jared Rubin. Economic historians, though, tend to only ask process-oriented “how” and “by what means” questions of the Great Enrichment. The eight co-authors of <em>Explaining Technology</em>, who are not economic historians, engage the debate asking a different question. Their goal is to explain the exponential shape of our enrichment with a model of the combinatorial evolution of technology. With an eye toward how we ask questions of the Great Enrichment, I propose broadening our inquiries to include questions typically overlooked in modern economic science, namely, “What form does it take? and “For what purpose?”</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"174 ","pages":"Article 104969"},"PeriodicalIF":2.8,"publicationDate":"2025-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143422230","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Coasian equilibria in sequential auctions 连续拍卖中的高斯均衡
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-01-25 DOI: 10.1016/j.euroecorev.2025.104960
Qingmin Liu , Konrad Mierendorff , Xianwen Shi
{"title":"Coasian equilibria in sequential auctions","authors":"Qingmin Liu ,&nbsp;Konrad Mierendorff ,&nbsp;Xianwen Shi","doi":"10.1016/j.euroecorev.2025.104960","DOIUrl":"10.1016/j.euroecorev.2025.104960","url":null,"abstract":"<div><div>We study stationary equilibria in a sequential auction setting. A seller runs a sequence of standard first-price or second-price auctions to sell an indivisible object to potential buyers. The seller can commit to the rule of the auction and the reserve price of the current period but not to reserve prices of future periods. We prove the existence of stationary equilibria and establish a uniform Coase conjecture—as the period length goes to zero, the seller’s profit from running sequential auctions converges to the profit of running an efficient auction uniformly across all points in time and all symmetric stationary equilibria.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"173 ","pages":"Article 104960"},"PeriodicalIF":2.8,"publicationDate":"2025-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143098840","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Status classification by lottery contests 状态分类抽奖比赛
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-01-25 DOI: 10.1016/j.euroecorev.2025.104961
Aner Sela
{"title":"Status classification by lottery contests","authors":"Aner Sela","doi":"10.1016/j.euroecorev.2025.104961","DOIUrl":"10.1016/j.euroecorev.2025.104961","url":null,"abstract":"<div><div>We study the optimal design of status classifications in organizational structures under the assumption that agents in a lottery (Tullock) contest care about their relative position. For each such a contest with any number of status categories that is smaller than or equal to the number of agents, we provide sufficient conditions for the optimal partition, which is the distribution of agents among the status categories that maximizes the agents’ symmetric equilibrium effort. We show that, for any number of status categories, in the optimal partition of status categories, the higher the status category, the more agents are included in it. However, in the optimal partition of status categories, a higher status category may not contain more agents than a lower status category when agents receive monetary rewards in addition to the payoff from their relative position (status).</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"173 ","pages":"Article 104961"},"PeriodicalIF":2.8,"publicationDate":"2025-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143098843","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The wealth of working nations 劳动国家的财富
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-01-25 DOI: 10.1016/j.euroecorev.2025.104962
Jesús Fernández-Villaverde , Gustavo Ventura , Wen Yao
{"title":"The wealth of working nations","authors":"Jesús Fernández-Villaverde ,&nbsp;Gustavo Ventura ,&nbsp;Wen Yao","doi":"10.1016/j.euroecorev.2025.104962","DOIUrl":"10.1016/j.euroecorev.2025.104962","url":null,"abstract":"<div><div>Due to aging populations, the gap between GDP growth per capita and GDP growth per working-age adult (or per hour worked) has widened in many advanced economies. Countries like Japan, which have shown lackluster GDP growth per capita, have performed surprisingly well in terms of GDP growth per working-age adult (or per hour worked). Many advanced economies are also following similar balanced growth paths per working-age adult despite significant differences in the levels of GDP per working-age adult. We calibrate a standard neoclassical growth model to reflect changes in the working-age population for each economy. This model aligns more closely with the data for all the economies in our sample when we match GDP growth per working-age adult rather than when we match GDP growth per capita, the “canonical” calibration target.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"173 ","pages":"Article 104962"},"PeriodicalIF":2.8,"publicationDate":"2025-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143098841","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Introduction to the special issue on rethinking macroeconomic policy in times of turmoil 《在动荡时期重新思考宏观经济政策》特刊导言
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-01-24 DOI: 10.1016/j.euroecorev.2025.104964
Juan J. Dolado, Evi Pappa
{"title":"Introduction to the special issue on rethinking macroeconomic policy in times of turmoil","authors":"Juan J. Dolado,&nbsp;Evi Pappa","doi":"10.1016/j.euroecorev.2025.104964","DOIUrl":"10.1016/j.euroecorev.2025.104964","url":null,"abstract":"","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"173 ","pages":"Article 104964"},"PeriodicalIF":2.8,"publicationDate":"2025-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143444863","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Strategic parental investments in a competitive marriage market 在竞争激烈的婚姻市场中，父母的战略性投资
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-01-23 DOI: 10.1016/j.euroecorev.2025.104958
V. Bhaskar , Wenchao Li , Junjian Yi
{"title":"Strategic parental investments in a competitive marriage market","authors":"V. Bhaskar ,&nbsp;Wenchao Li ,&nbsp;Junjian Yi","doi":"10.1016/j.euroecorev.2025.104958","DOIUrl":"10.1016/j.euroecorev.2025.104958","url":null,"abstract":"<div><div>We examine the effect of a more male-biased local sex ratio on the difference between parental investments in boys and in girls in China. Relative to parents with a first-born girl, parents of a first-born boy increase labor supply and migration as the male bias in the local sex ratio rises, and they change their investment composition: they increase housing investment while reducing educational investment. These findings provide support for a theoretical model of premarital investments, where men who are in excess supply on the marriage market, are unable to commit to sharing future labor income at the time of marriage, making housing a more credible commitment device. We also discuss alternative explanations that may align with the empirical evidence. Our empirical strategy employs a novel instrument for the local sex ratio.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"173 ","pages":"Article 104958"},"PeriodicalIF":2.8,"publicationDate":"2025-01-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143148879","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Rehabilitating futures: Assessing the effects of correctional employment-focused programs on recidivism and employment 改造的未来：评估以就业为重点的矫正项目对累犯和就业的影响
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-01-23 DOI: 10.1016/j.euroecorev.2025.104954
M. Antonella Mancino
{"title":"Rehabilitating futures: Assessing the effects of correctional employment-focused programs on recidivism and employment","authors":"M. Antonella Mancino","doi":"10.1016/j.euroecorev.2025.104954","DOIUrl":"10.1016/j.euroecorev.2025.104954","url":null,"abstract":"<div><div>In this paper, I explore the effects of participating in employment-focused programs during incarceration, encompassing job skills and vocational training, on post-release employment and crime outcomes. I develop and estimate a dynamic model of crime, employment, and correctional program participation, using data from serious juvenile offenders in Maricopa County and Philadelphia County. I find that participating in employment-focused programs results in a 4.9%-point increase in employment and a 7.9%-point reduction in crime within three years post-release. These programs facilitate the transition to the legal labor sector and enhance employment stability, mitigating some of the adverse effects of criminal records. They also have a modest impact on preferences towards crime. Furthermore, I show that correctional employment-focused programs significantly affect post-release crime and employment outcomes even if criminal experience has accumulated, and that policies that enhance the impact of such programs on the job-arrival rate can have crucial effects on subsequent crime and employment outcomes.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"173 ","pages":"Article 104954"},"PeriodicalIF":2.8,"publicationDate":"2025-01-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143148874","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The dynamics of automation adoption: Firm-level heterogeneity and aggregate employment effects 自动化采用的动态：公司层面的异质性和总就业效应
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-01-20 DOI: 10.1016/j.euroecorev.2024.104943
Laura Bisio , Angelo Cuzzola , Marco Grazzi , Daniele Moschella
{"title":"The dynamics of automation adoption: Firm-level heterogeneity and aggregate employment effects","authors":"Laura Bisio ,&nbsp;Angelo Cuzzola ,&nbsp;Marco Grazzi ,&nbsp;Daniele Moschella","doi":"10.1016/j.euroecorev.2024.104943","DOIUrl":"10.1016/j.euroecorev.2024.104943","url":null,"abstract":"<div><div>We investigate the impact of investment in automation-related goods on adopting and non-adopting firms in the Italian economy during 2011–2019. We integrate datasets on trade activities, firms’, and workers’ characteristics for the population of Italian importing firms and estimate the effects on adopters’ outcomes within a difference-in-differences design exploiting import lumpiness in product categories linked to automation technologies (including robots). We find a positive average adoption effect on the adopters’ employment: firms are, on average, around 3% larger in terms of employment after an automation spike. Crucially, the employment effect is heterogeneous across firms: a positive effect is predominant among small firms, which are around 5% larger five years after the spike; on the contrary, a negative displacement effect is predominant among medium and large firms, with an employment contraction at five years of around −4%. This result can shed light on one potential reason behind the mixed results found in previous studies, which often rely on samples with different size distributions. We complete the framework with a 5-digit sector-level analysis showing that adopting automation technologies has an overall weak negative effect on aggregate employment, and with an analysis of the competition effects of automation, showing that non-adopters suffer a loss in sales and employment.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"173 ","pages":"Article 104943"},"PeriodicalIF":2.8,"publicationDate":"2025-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143148878","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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