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Zero-Sum Thinking, the Evolution of Effort-Suppressing Beliefs, and Economic Development
Carvalho, Jean-Paul; Bergeron, Augustin; Henrich, Joseph; … - National Bureau of Economic Research - 2023
We study the evolution of belief systems that suppress productive effort. These include concerns about the envy of others, beliefs in the importance of luck for success, disdain for competitive effort, and traditional beliefs in witchcraft. We show that such demotivating beliefs can evolve when...
Persistent link: https://www.econbiz.de/10014372420
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The Economics of Women's Rights
Tertilt, Michele; Doepke, Matthias; Montenbruck, Laura; … - National Bureau of Economic Research - 2022
Two centuries ago, in most countries around the world, women were unable to vote, had no say over their own children or property, and could not obtain a divorce. Women have gradually gained rights in many areas of life, and this legal expansion has been closely intertwined with economic...
Persistent link: https://www.econbiz.de/10013462666
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Rebel Governance and Development : The Persistent Effects of Guerrillas in El Salvador
Bandiera, Antonella; Dinarte-Diaz, Lelys; Jimenez, Juan … - National Bureau of Economic Research - 2022
displaced state authorities and promoted the creation of self-governing institutions that embodied local values and openly … state. Our results suggest that community institutions in guerrilla-controlled areas led to enduring land fragmentation and … disengagement with the government. We argue that when non-state actors develop alternative governance institutions, they can lead to …
Persistent link: https://www.econbiz.de/10013388844
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Natural and Neutral Real Interest Rates : Past and Future
Obstfeld, Maurice - National Bureau of Economic Research - 2023
This paper surveys the decline in real interest rates in advanced and emerging economies over the past several decades, linking that process to a range of global factors that have operated with different force in different periods. The paper argues that estimates of long-run equilibrium real...
Persistent link: https://www.econbiz.de/10014447270
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Sovereign Haircuts : 200 Years of Creditor Losses
Luckner, Clemens von <Graf>; Meyer, Josefin; Reinhart, … - National Bureau of Economic Research - 2024
We study sovereign external debt crises over the past 200 years, with a focus on creditor losses, or "haircuts". Our sample covers 327 sovereign debt restructurings with external private creditors over 205 default spells since 1815. Creditor losses vary widely (from none to 100%), but the...
Persistent link: https://www.econbiz.de/10014576628
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Banking Crises in Historical Perspective
Frydman, Carola; Xu, Chenzi - National Bureau of Economic Research - 2023
institutions, regulations and historical contexts that give rise to these divergent experiences. We conclude by identifying …
Persistent link: https://www.econbiz.de/10014248010
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Tracing Sustainability in the Long Run : Genuine Savings Estimates 1850 - 2018
McLaughlin, Eoin; Ducoing, Cristián; Oxley, Les - National Bureau of Economic Research - 2023
We introduce a new database of historical Genuine Savings (GS), an indicator of sustainable development promoted by the World Bank and widely used in contemporary economic research. GS derives from the theoretical work on wealth accounting, and addresses shortcomings in conventional metrics of...
Persistent link: https://www.econbiz.de/10014250172
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Lee Bounds With Multilayered Sample Selection
Kroft, Kory - 2024
This paper investigates the causal effect of job training on wage rates in the presence of firm heterogeneity. When training affects worker sorting to firms, sample selection is no longer binary but is "multilayered". This paper extends the canonical Heckman (1979) sample selection model - which...
Persistent link: https://www.econbiz.de/10015072893
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Production, Trade, and Cross-Border Data Flows
Chang, Qing; Cong, Lin William; Liyong, Wang; Zhang, … - National Bureau of Economic Research - 2023
-existing development gaps in data economies on each country's production and international trade. Raw data as byproducts of consumption can … or even freeze trade. Cross-border data flows mitigate the situation and improve welfare when added to international … trade. Data-inefficient countries where data are less important in production enjoy a "latecomer's advantage'' with …
Persistent link: https://www.econbiz.de/10014322803
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The Social Costs of Sovereign Default
Farah-Yacoub, Juan P.; Luckner, Clemens von <Graf>; … - National Bureau of Economic Research - 2024
This paper investigates the economic and social consequences of sovereign default on external debt. We focus on the crises' impact on real per capita GDP, infant mortality, life expectancy, poverty headcounts, and calorie supply per capita. After methodological exclusions, the sample covers 221...
Persistent link: https://www.econbiz.de/10014576629