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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
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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
Recourse and (strategic) mortgage defaults: Evidence from changes in housing market laws 追索权和（战略性）抵押贷款违约：来自住房市场法律变化的证据
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-01-14 DOI: 10.1016/j.euroecorev.2025.104953
Alin Marius Andrieș , Anca Copaciu , Radu Popa , Razvan Vlahu
{"title":"Recourse and (strategic) mortgage defaults: Evidence from changes in housing market laws","authors":"Alin Marius Andrieș ,&nbsp;Anca Copaciu ,&nbsp;Radu Popa ,&nbsp;Razvan Vlahu","doi":"10.1016/j.euroecorev.2025.104953","DOIUrl":"10.1016/j.euroecorev.2025.104953","url":null,"abstract":"<div><div>We study the impact of a legislative change in Romania that retroactively modified mortgage recourse policies, providing a natural experiment to analyze borrower behavior under envolving legal frameworks. Using a granular dataset of mortgage loans originated between 2003 and 2016, combined with individual income tax records, we exploit an exogenous policy shift that transitioned mortgages from a creditor-friendly to a debtor-friendly regime. Our findings provide robust evidence that eliminating penalties for default significantly increased the probability of default among existing borrowers, particularly among high-income individuals and borrowers who are less liquidity-constrained – groups traditionally considered less prone to default. These findings underscore the unintended consequences of retroactive legislative changes, including deteriorated payment discipline and increased strategic default behavior.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"173 ","pages":"Article 104953"},"PeriodicalIF":2.8,"publicationDate":"2025-01-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143098844","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
Make-up strategies with incomplete markets and bounded rationality 不完全市场和有限理性下的弥补策略
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-01-06 DOI: 10.1016/j.euroecorev.2024.104941
Michael Dobrew , Rafael Gerke , Sebastian Giesen , Joost Röttger
{"title":"Make-up strategies with incomplete markets and bounded rationality","authors":"Michael Dobrew ,&nbsp;Rafael Gerke ,&nbsp;Sebastian Giesen ,&nbsp;Joost Röttger","doi":"10.1016/j.euroecorev.2024.104941","DOIUrl":"10.1016/j.euroecorev.2024.104941","url":null,"abstract":"<div><div>We study the impact of market incompleteness and bounded rationality on the effectiveness of make-up strategies. Using a heterogeneous-agent New Keynesian model with reflective expectations, we show that make-up strategies can mitigate the negative consequences of an occasionally-binding effective lower bound. However, the benefits are small when cognitive ability is in line with micro-evidence. These findings are independent of market (in)completeness, emphasising the importance of rational expectations. While market incompleteness and bounded rationality complement each other in attenuating the effects of forward guidance, we do not observe such a complementarity for the effectiveness of make-up strategies.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"173 ","pages":"Article 104941"},"PeriodicalIF":2.8,"publicationDate":"2025-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143148875","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 climate risks 气候风险特刊导言
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-01-01 DOI: 10.1016/j.euroecorev.2024.104895
Óscar Jordá , Fernanda Nechio , Evi Pappa
{"title":"Introduction to the special issue on climate risks","authors":"Óscar Jordá ,&nbsp;Fernanda Nechio ,&nbsp;Evi Pappa","doi":"10.1016/j.euroecorev.2024.104895","DOIUrl":"10.1016/j.euroecorev.2024.104895","url":null,"abstract":"","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"171 ","pages":"Article 104895"},"PeriodicalIF":2.8,"publicationDate":"2025-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143096743","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
Corrigendum to “Herbert Glejser – Obituary” [European Economic Review (2024) 104867 “Herbert Glejser -讣告”的勘误表[欧洲经济评论（2024）104867]
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-01-01 DOI: 10.1016/j.euroecorev.2024.104913
{"title":"Corrigendum to “Herbert Glejser – Obituary” [European Economic Review (2024) 104867","authors":"","doi":"10.1016/j.euroecorev.2024.104913","DOIUrl":"10.1016/j.euroecorev.2024.104913","url":null,"abstract":"","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"171 ","pages":"Article 104913"},"PeriodicalIF":2.8,"publicationDate":"2025-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143141292","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
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