A Fast Literature Search Engine based on top-quality journals, by Dr. Mingze Gao.
- Topic classification is ongoing.
- Please kindly let me know [mingze.gao@mq.edu.au] in case of any errors.
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Results 463 resources
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This paper examines the dynamics of violence in the Palestinian-Israeli conflict during the Second Intifada. Using data on the daily number of fatalities between September 2000 and January 2005, we estimate reaction functions for both Israelis and Palestinians and find evidence of Granger causality from Palestinian to Israeli violence, but not vice versa. This finding is consistent using either the incidence or level of fatalities and is robust to the specification of the lag structure and the level of time aggregation. We find no evidence that the Palestinians and Israelis are engaged in a predictable "tit-for-tat" cycle of violence. (JEL D74, H56, O17)
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This paper provides the first real-world evidence of Giffen behavior, i.e.,upward sloping demand. Subsidizing the prices of dietary staples for extremelypoor households in two provinces of China, we find strong evidence of Giffenbehavior for rice in Hunan, and weaker evidence for wheat in Gansu. The dataprovide new insight into the consumption behavior of the poor, who act asthough maximizing utility subject to subsistence concerns. We find that theirelasticity of demand depends significantly, and nonlinearly, on the severity oftheir poverty. Understanding this heterogeneity is important for the effectivedesign of welfare programs for the poor. (JEL D12, O12)
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We examine the impact of liquidity shocks by exploiting cross-bank liquidityvariation induced by unanticipated nuclear tests in Pakistan. We show thatfor the same firm borrowing from two different banks, its loan from the bankexperiencing a 1 percent larger decline in liquidity drops by an additional0.6 percent. While banks pass their liquidity shocks on to firms, large firms—particularly those with strong business or political ties—completely compensatethis loss by additional borrowing through the credit market. Small firmsare unable to do so and face large drops in overall borrowing and increasedfinancial distress. (JEL E44, G21, G32, L25)
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This article examines the stock market's changing valuation of corporatepatentable assets between 1910 and 1939. It shows that the value of knowledgecapital increased significantly during the 1920s compared to the 1910sas investors responded to the quality of technological inventions. Innovationwas an important driver of the late 1920s stock market runup, and the GreatCrash did not reflect a significant revaluation of knowledge capital relativeto physical capital. Although substantial quantities of influential patents wereaccumulated during the post-crash recovery, high technology firms did notearn significant excess returns over low technology firms for most of the 1930s.(JEL G14, N12, N22, O30)
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Empirical and experimental evidence suggests different levels of sophistication among families in the Boston Public School student assignment plan. We analyze the preference revelation game induced by the Boston mechanism with sincere players who report their true preferences and sophisticated players who play a best response. We characterize the set of Nash equilibrium outcomes as the set of stable matchings of a modified economy, where sincere students lose priority to sophisticated students. Any sophisticated student weakly prefers her assignment under the Pareto-dominant Nash equilibrium of the Boston mechanism to her assignment under the recently adopted student-optimal stable mechanism. (JEL D82, I21)
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A principal can observe both the output and input of an agent who works at a job involving multiple tasks. We provide a simple theory that explains why it may be optimal for the principal to use only an output-based incentive contract, even though the principal can monitor the agent's actions perfectly in all but one task and knows exactly which action is optimal for each task. (JEL D82, D86, M54)
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Existing studies establish a strong cross-country correlation between incomeand democracy but do not control for factors that simultaneously affect bothvariables. We show that controlling for such factors by including countryfixed effects removes the statistical association between income percapita and various measures of democracy. We presentinstrumental-variables estimates that also show no causal effect of incomeon democracy. The cross-country correlation between income and democracyreflects a positive correlation between changes in income and democracyover the past 500 years. This pattern is consistent with the idea thatsocieties embarked on divergent political-economic development paths atcertain critical junctures.
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Recent sovereign defaults are accompanied by interest rate spikes and deeprecessions. This paper develops a small open economy model to study defaultrisk and its interaction with output and foreign debt. Defaultprobabilities and interest rates depend on incentives for repayment.Default is more likely in recessions because this is when it is morecostly for a risk averse borrower to repay noncontingent debt. The modelclosely matches business cycles in Argentina predicting high volatility ofinterest rates, higher volatility of consumption relative to output, andnegative correlations of output with interest rates and the trade balance.
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- Journal Article (463)