发布求助
文献互助 智能选刊 最新文献

European Economic Review最新文献

筛选
英文 中文
Long shadow of the U.S. mortgage expansion: Evidence from local labour markets 美国抵押贷款扩张的长期阴影：来自当地劳动力市场的证据
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-02-01 DOI: 10.1016/j.euroecorev.2024.104931
Aruni Mitra , Mengying Wei
{"title":"Long shadow of the U.S. mortgage expansion: Evidence from local labour markets","authors":"Aruni Mitra ,&nbsp;Mengying Wei","doi":"10.1016/j.euroecorev.2024.104931","DOIUrl":"10.1016/j.euroecorev.2024.104931","url":null,"abstract":"<div><div>We construct U.S. county-level credit supply shocks by interacting the national mortgage growth of lenders in the early 2000s with a county’s initial exposure to those lenders. Counties with a more expansionary credit shock experienced a greater housing boom between 2003 and 2006 without a positive spillover to local labour market performance. During the Great Recession, the same counties experienced a larger drop in growth rates of mortgages, house prices and wages, and a larger increase in unemployment rates. While unemployment rates declined faster in those areas after the recession, wage growth remained depressed. The credit shock also induced a long-run increase in older firms’ employment share, suggesting a reduction in business dynamism.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"172 ","pages":"Article 104931"},"PeriodicalIF":2.8,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143157001","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
Populism’s original sin: Short-term populist penalties and uncertainty traps 民粹主义的原罪：短期民粹主义惩罚和不确定性陷阱
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-02-01 DOI: 10.1016/j.euroecorev.2024.104917
L. Guillermo Woo-Mora
{"title":"Populism’s original sin: Short-term populist penalties and uncertainty traps","authors":"L. Guillermo Woo-Mora","doi":"10.1016/j.euroecorev.2024.104917","DOIUrl":"10.1016/j.euroecorev.2024.104917","url":null,"abstract":"<div><div>This paper investigates the immediate economic impacts of populist policies. In 2018, the Mexican president-elect held an unofficial referendum with less than 1% turnout to halt the construction of Mexico City’s New International Airport. I show the policy is plausibly a natural experiment with nationwide impacts, preceding other macroeconomic shocks and populist policies dismantling economic and institutional checks. Using the synthetic control method, I find a 3.3% to 4.5% GDP reduction one year post-cancellation. Consistent with the uncertainty trap framework, this decline is due to heightened economic uncertainty and a significant drop in investment, reinforcing each other and leading to a prolonged economic downturn. The results highlight how populist policies can impose immediate economic costs by creating uncertainty traps, even before implementing institutional changes.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"172 ","pages":"Article 104917"},"PeriodicalIF":2.8,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143157002","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
An introduction to the european unemployment problem: Past trajectory, present dilemmas and future policies 介绍欧洲失业问题：过去的轨迹，目前的困境和未来的政策
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-02-01 DOI: 10.1016/j.euroecorev.2024.104928
Nauro F. Campos , Vera Z. Eichenauer , Jan-Egbert Sturm
{"title":"An introduction to the european unemployment problem: Past trajectory, present dilemmas and future policies","authors":"Nauro F. Campos ,&nbsp;Vera Z. Eichenauer ,&nbsp;Jan-Egbert Sturm","doi":"10.1016/j.euroecorev.2024.104928","DOIUrl":"10.1016/j.euroecorev.2024.104928","url":null,"abstract":"<div><div>Since 1980, the unemployment rate in Europe has consistently exceeded that in the United States. A large body of economic literature has attempted to explain the causes of this phenomenon. The aim of this paper is to provide an introductory overview of the subject, including a review of existing explanations, the establishment of a set of stylised facts and the introduction of a selection of recent contributions to the ongoing debate.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"172 ","pages":"Article 104928"},"PeriodicalIF":2.8,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143100343","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
Time-varying stock return correlation, news shocks, and business cycles 时变股票收益相关性，新闻冲击和商业周期
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-02-01 DOI: 10.1016/j.euroecorev.2024.104916
Norbert Metiu , Esteban Prieto
{"title":"Time-varying stock return correlation, news shocks, and business cycles","authors":"Norbert Metiu ,&nbsp;Esteban Prieto","doi":"10.1016/j.euroecorev.2024.104916","DOIUrl":"10.1016/j.euroecorev.2024.104916","url":null,"abstract":"<div><div>The cross-sectional average of the pairwise correlations between U.S. stock returns is considered as a measure of risk to aggregate wealth priced by the stock market. We show that this measure predicts future U.S. output growth at a horizon of one to four years. A stronger average correlation of stock returns foreshadows significantly lower future output growth, even when controlling for some other widely used financial predictors. An innovation to average correlation gives rise to macroeconomic dynamics that resemble negative news about future total factor productivity (TFP) in a vector autoregression. TFP news shocks thus appear to be a key source of aggregate risk priced into stocks.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"172 ","pages":"Article 104916"},"PeriodicalIF":2.8,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143100386","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
Learning to be rational in the presence of news: A lab investigation 在新闻面前学会理性：一项实验室调查
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-02-01 DOI: 10.1016/j.euroecorev.2024.104948
Joep Lustenhouwer , Isabelle Salle
{"title":"Learning to be rational in the presence of news: A lab investigation","authors":"Joep Lustenhouwer ,&nbsp;Isabelle Salle","doi":"10.1016/j.euroecorev.2024.104948","DOIUrl":"10.1016/j.euroecorev.2024.104948","url":null,"abstract":"<div><div>We conduct a laboratory experiment in a micro-founded macroeconomic model where participants receive public announcements about future government spending shocks, and are tasked with repeatedly forecasting output over a given horizon. By eliciting several-period-ahead predictions, we can investigate forecast revisions in relation to these announcements. We find that subjects learn the magnitude of the effect of the shocks on output, albeit not with perfect accuracy. We find micro-level evidence that they persistently underreact to the announcements in a way consistent with sticky information, but find little support for fully backward-looking expectations. We rationalize the experimental data with a Bayesian updating model, which provides a particularly good description of the behaviors in longer-horizon environments and among attentive, experienced, and effortful subjects.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"172 ","pages":"Article 104948"},"PeriodicalIF":2.8,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143156998","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
Safe spaces for children: School sanitation and sexual violence 儿童安全空间：学校卫生和性暴力
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-02-01 DOI: 10.1016/j.euroecorev.2025.104952
Pei Gao , Aditi Kothari , Yu-Hsiang Lei
{"title":"Safe spaces for children: School sanitation and sexual violence","authors":"Pei Gao ,&nbsp;Aditi Kothari ,&nbsp;Yu-Hsiang Lei","doi":"10.1016/j.euroecorev.2025.104952","DOIUrl":"10.1016/j.euroecorev.2025.104952","url":null,"abstract":"<div><div>This paper demonstrates the gendered impact of inadequate school sanitation, highlighting its link to sexual violence against children. Using panel analysis and a triple-difference strategy with district-year data, we find that constructing sex-specific toilets in schools significantly reduces child rapes, while having no effect on other sexual crimes (e.g., adult rape). The reduction is more pronounced in co-educational and secondary schools. Conversely, unisex toilets are ineffective, because girls feel unsafe to use them and continue defecating openly. Additionally, the deterrent effect of school sanitation is stronger in areas with more gender-equal norms, emphasizing the need for broad, culture-based preventive measures.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"172 ","pages":"Article 104952"},"PeriodicalIF":2.8,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143100335","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
How malleable is the aversion to stigmatized work? 对污名化工作的厌恶有多大的可塑性？
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-02-01 DOI: 10.1016/j.euroecorev.2024.104945
Florian H. Schneider , Martin Schonger , Ivo Schurtenberger
{"title":"How malleable is the aversion to stigmatized work?","authors":"Florian H. Schneider ,&nbsp;Martin Schonger ,&nbsp;Ivo Schurtenberger","doi":"10.1016/j.euroecorev.2024.104945","DOIUrl":"10.1016/j.euroecorev.2024.104945","url":null,"abstract":"<div><div>Conflicting narratives about controversial business models are common in the debates surrounding stigmatized companies. We study whether such narratives affect individuals’ willingness to accept stigmatized work. In a laboratory experiment, we show that reservation wages for a job which assists the marketing of tobacco products are substantially higher than for a similar but non-stigmatized job. We then randomly expose participants either to narratives commonly used by the tobacco industry or to narratives used by a civil society opponent of the tobacco industry. Neither set of narratives affects behavior. This finding can be explained by the firm moral views held by participants. Our results suggest that aversion to stigmatized work is a robust feature of preferences, which is necessary for moral concerns to persistently influence labor market outcomes.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"172 ","pages":"Article 104945"},"PeriodicalIF":2.8,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143157004","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
Global spillovers of taxation in the online advertising market. Theory and evidence from facebook 网络广告市场税收的全球溢出效应。来自facebook的理论和证据
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-02-01 DOI: 10.1016/j.euroecorev.2024.104935
Andrea Lassmann , Federica Liberini , Antonio Russo , Ángel Cuevas , Rubén Cuevas
{"title":"Global spillovers of taxation in the online advertising market. Theory and evidence from facebook","authors":"Andrea Lassmann ,&nbsp;Federica Liberini ,&nbsp;Antonio Russo ,&nbsp;Ángel Cuevas ,&nbsp;Rubén Cuevas","doi":"10.1016/j.euroecorev.2024.104935","DOIUrl":"10.1016/j.euroecorev.2024.104935","url":null,"abstract":"<div><div>We study the effect of corporate taxes on multinational digital platforms and the global online advertising market. Using a novel dataset of advertising prices and user product preferences from Facebook, jointly with international trade data, we show that an increase in the platform’s corporate tax rate in several countries had a sizeable effect on advertising prices therein. Given the platform’s two-sided and multinational structure, we also document substantial spillovers in the effects of ad prices across countries. The results are consistent with our theoretical model, which shows that, due to consumers’ limited tolerance for ads, the platform reduces the supply of ads to advertisers located in countries where it faces a higher tax rate.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"172 ","pages":"Article 104935"},"PeriodicalIF":2.8,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143100341","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
Monetary policy transmission under supply chain pressure 供应链压力下的货币政策传导
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-02-01 DOI: 10.1016/j.euroecorev.2024.104949
Sebastian Laumer , Matthew Schaffer
{"title":"Monetary policy transmission under supply chain pressure","authors":"Sebastian Laumer ,&nbsp;Matthew Schaffer","doi":"10.1016/j.euroecorev.2024.104949","DOIUrl":"10.1016/j.euroecorev.2024.104949","url":null,"abstract":"<div><div>This study examines how global supply chain conditions influence the transmission of US monetary policy during the pre-pandemic period. We find that elevated supply chain pressures amplify the standard effects of monetary policy shocks on macroeconomic outcomes. For instance, peak effects on output and prices are 160 and 30 percent larger, respectively, when supply chains are stressed. This amplification arises from an intensification of the credit channel, as financial variables related to the cost of external finance become more sensitive to monetary policy under heightened supply chain pressures. For example, the peak response of the excess bond premium doubles in magnitude. Firm-level estimates further support this conclusion, with investment becoming three times more responsive to monetary policy shocks when supply chains are strained. When extending the sample beyond March 2020, the amplification effect becomes larger and occurs at longer lag lengths.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"172 ","pages":"Article 104949"},"PeriodicalIF":2.8,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143100381","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
Garbling an evaluation to retain an advantage 歪曲评估以保持优势
IF 2.8 2区 经济学
European Economic Review Pub Date : 2025-02-01 DOI: 10.1016/j.euroecorev.2024.104940
Ascensión Andina-Díaz , José A. García-Martínez
{"title":"Garbling an evaluation to retain an advantage","authors":"Ascensión Andina-Díaz ,&nbsp;José A. García-Martínez","doi":"10.1016/j.euroecorev.2024.104940","DOIUrl":"10.1016/j.euroecorev.2024.104940","url":null,"abstract":"<div><div>We study information transmission in a model of career concerns in which experts evaluate their worth based on social comparisons. There are two experts, each of whom receives an informative signal about the state of the world and makes a statement to the principal. The quality of the signal each expert receives is unknown to the other players, and the experts differ in the prior that their signal is fully informative. Accordingly, we speak of the stronger and the weaker expert, where the stronger expert is ex-ante more likely to receive a better signal. We show that expert heterogeneity and social comparisons drive expert dissent. We identify an incentive for the stronger expert to deliberately misreport an informative signal in order to sabotage the weaker expert, garble the principal’s evaluation, and maintain her initial advantage. In equilibrium, this expert may even completely contradict her signal and the decision of the other expert. This result suggests a new rationale for social dissent that may help shed light on current polarization trends.</div></div>","PeriodicalId":48389,"journal":{"name":"European Economic Review","volume":"172 ","pages":"Article 104940"},"PeriodicalIF":2.8,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143100384","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
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：604180095
Book学术官方微信