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 536 resources
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We examine how employers learn about worker productivity in arandomized pilot experiment which provided objective estimates ofteacher performance to school principals. We test several hypothesesthat support a simple Bayesian learning model with imperfectinformation. First, the correlation between performance estimatesand prior beliefs rises with more precise objective estimates and moreprecise subjective priors. Second, new information exerts greaterinfluence on posterior beliefs when it is more precise and whenpriors are less precise. Employer learning affects job separation andproductivity in schools, increasing turnover for teachers with lowperformance estimates and producing small test score improvements.(JEL D83, I21, J24, J45)
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This comment highlights different ways of coding crisis episodes in Cerra and Saxena (2008) (CS). The comment shows that the coding used for civil war implies a misrepresentation of its impact. A correct coding of civil war reveals that the average civil war leads to a loss in output of 18 percent. This makes civil wars more devastating than all other crisis studied by CS.
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In the microdata underlying US trade price indexes, 40 percent ofproducts are replaced before a single price change is observed and70 percent are replaced after two price changes or fewer. A priceindex that focuses on price changes for identical items may, therefore,miss an important component of price adjustment occurringat the time of product replacements. We provide a model of this"product replacement bias" and quantify its importance using USdata. Accounting for product replacement bias, long-run exchangerate "pass-through" is substantially higher than conventional estimatessuggest, and the terms of trade are substantially more volatile.(JEL F14, F31)
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This paper assesses the impact of pollution on worker productivity by relating exogenous daily variations in ozone with productivity of agricultural workers as recorded under piece rate contracts. We find robust evidence that ozone levels well below federal air quality standards have a significant impact on productivity. These results suggest that, in contrast to common characterizations of environmental protection as a tax on producers, environmental protection can also be viewed as an investment in human capital, and thus a tool for promoting economic growth.
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The rise of offshoring of intermediate inputs raises important questionsfor commercial policy. Do the distinguishing features of offshoringintroduce novel reasons for trade policy intervention? Doesoffshoring create new problems of global policy cooperation whosesolutions require international agreements with novel features? Inthis paper we provide answers to these questions, and thereby initiatethe study of trade agreements in the presence of offshoring. Weargue that the rise of offshoring will make it increasingly difficult forgovernments to rely on traditional GATT/WTO concepts and rules – such as market access, reciprocity and non-discrimination – to solvetheir trade-related problems. (JEL F12, F13, L24)
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Agents face a coordination problem akin to the adoption of a networktechnology. A principal announces investment subsidies that,at minimal cost, attain a given likelihood of successful coordination.Optimal subsidies target agents who impose high externalitieson others and on whom others impose low externalities. Based onthe analysis of the role of strategic uncertainty in coordination processes, we provide a methodology that can be used to find the optimal targets for a variety of interventions in a large class of coordination problems with heterogeneous agents. (JEL D81, D82, D83, O33)
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Teacher performance evaluation has become a dominant theme in school reform efforts. Yet, whether evaluation changes the performance of teachers, the focus of this paper, is unknown.Instead, evaluation has largely been studied as an input to selective dismissal decisions. We study mid-career teachers for whom we observe an objective measure of productivity – value-added tostudent achievement – before, during, and after evaluation. We find teachers are more productive in post-evaluation years, with the largest improvements among teachers performing relativelypoorly ex-ante. The results suggest teachers can gain information from evaluation and subsequently develop new skills, increase long-run effort, or both.
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Acemoglu, Johnson, and Robinson (2001) established that economic institutions today are correlated with expected mortality of European colonialists. David Albouy argues this relationship is not robust. He drops all data from Latin America and much of the data from Africa, making up almost 60 percent of our sample, despite much information on the mortality of Europeans in those places during the colonial period. He also includes a "campaign" dummy that is coded inconsistently; even modest corrections undermine his claims. We also show that limiting the effect of outliers strengthens our results, making them robust to even extreme versions of Albouy's critiques. (JEL D02, E23, F54, I12, N40, O43, P14)
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Acemoglu, Johnson, and Robinson's (2001) seminal article argues property-rights institutions powerfully affect national income, using estimated mortality rates of early European settlers to instrument capital expropriation risk. However, 36 of the 64 countries in the sample are assigned mortality rates from other countries, often based on mistaken or conflicting evidence. Also, incomparable mortality rates from populations of laborers, bishops, and soldiers–often on campaign–are combined in a manner that favors the hypothesis. When these data issues are controlled for, the relationship between mortality and expropriation risk lacks robustness, and instrumental-variable estimates become unreliable, often with infinite confidence intervals. (JEL D02, E23, F54, I12, N40, O43, P14)
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Two players choose hawkish or dovish actions in a conflict game with incomplete information. An "extremist," who can either be a hawk or a dove, attempts to manipulate decision making. If actions are strategic complements, a hawkish extremist increases the likelihood of conflict, and reduces welfare, by sending a public message which triggers hawkish behavior from both players. If actions are strategic substitutes, a dovish extremist instead sends a public message which causes one player to become more dovish and the other more hawkish. A hawkish (dovish) extremist is unable to manipulate decision making if actions are strategic substitutes (complements). (JEL D74, D82)
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Journals
- American Economic Review (256)
- Journal of Finance (60)
- Journal of Financial Economics (124)
- Review of Financial Studies (96)
Topic
- Bond (21)
- CEO (12)
- Capital Structure (9)
- Director (8)
- Mergers and Acquisitions (4)
Resource type
- Journal Article (536)