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Community-based Development and Poverty Alleviation: An Evaluation of China’s Poor Village Investment Program
Park, Albert; Wang, Sangui - C.E.P.R. Discussion Papers - 2010
We conduct the first systematic evaluation of the world’s largest community-based development program--China’s flagship … consumption of richer households by 6.1 to 9.2 percent. We also find suggestive evidence that governance matters in the …
Persistent link: https://www.econbiz.de/10008468658
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Cognitive Ability and Paternalism
Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2002
This Paper analyses the welfare effects of price restrictions on private contracting in a world where agents have a limited cognitive ability. People compute the costs and benefits of entering a transaction with an error. The government knows the distribution of true costs and benefits as well...
Persistent link: https://www.econbiz.de/10005662402
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Forced Saving, Redistribution and Nonlinear Social Security Schemes
Cremer, Helmuth; De Donder, Philippe; Maldonado, Darío; … - C.E.P.R. Discussion Papers - 2008
This paper studies the design of a nonlinear social security scheme in a society where individuals differ in two respects: productivity and degree of myopia. Myopic individuals may not save 'enough' for their retirement because their 'myopic self' emerges when labor supply and savings decisions...
Persistent link: https://www.econbiz.de/10005498031
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Taxing Sin Goods and Subsidizing Health Care
Cremer, Helmuth; De Donder, Philippe; Maldonado, Darío; … - C.E.P.R. Discussion Papers - 2008
We consider a two-period model. In the first period, individuals consume two goods: one is sinful and the other is not. The sin good brings pleasure but has a detrimental effect on second period health and individuals tend to underestimate this effect. In the second period, individuals can...
Persistent link: https://www.econbiz.de/10005504681
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Parenting with Style: Altruism and Paternalism in Intergenerational Preference Transmission
Doepke, Matthias; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2014
paternalism towards children. They can affect their children's choices via two channels: either by influencing children …
Persistent link: https://www.econbiz.de/10011083685
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Can You Teach Old Dragons New Tricks? FDI and Innovation Activity in Chinese State-Owned Enterprises
Girma, Sourafel; Gong, Yundan; Görg, Holger - C.E.P.R. Discussion Papers - 2006
We investigate whether inward FDI, either at the firm or industry level, has any impact on product innovation by … that export, invest in human capital or R&D, or have prior innovation experience. We also find that SOEs with internal R …
Persistent link: https://www.econbiz.de/10005123532
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The Territorial Dynamics Of Innovation In China And India
Crescenzi, Riccardo; Rodriguez-Pose, Andres; Storper, … - C.E.P.R. Discussion Papers - 2012
This paper analyses the geography of innovation in China and India. Using a tailor-made panel database for regions in … between the provinces and states within both countries are quite different. In China, the concentration of innovation is …. Innovative areas in China, rather than generate knowledge spillovers, seem to produce strong backwash effects. In India, by …
Persistent link: https://www.econbiz.de/10011083752
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First to “Read” the News: News Analytics and Institutional Trading
Keim, Donald B; Massa, Massimo; von Beschwitz, Bastian - C.E.P.R. Discussion Papers - 2015
We investigate whether providers of high frequency news analytics affect the stock market. As identification, we exploit a unique experiment based on differences in news event classifications between different product releases of a major provider of news analytics. We document a causal effect of...
Persistent link: https://www.econbiz.de/10011252620
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Tips and Tells from Managers: How Analysts and the Market Read Between the Lines of Conference Calls
Druz, Marina; Wagner, Alexander F; Zeckhauser, Richard - C.E.P.R. Discussion Papers - 2015
Stock prices react significantly to the tone (negativity of words) managers use on earnings conference calls. This reaction reflects reasonably rational use of information. “Tone surprise” -- the residual when negativity in managerial tone is regressed on the firm’s recent economic...
Persistent link: https://www.econbiz.de/10011145406
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Corporate Governance
Tirole, Jean - C.E.P.R. Discussion Papers - 1999
The paper first develops an economic analysis of the concept of shareholder value, describes its approach and discusses some open questions. It emphasizes the relationship between pledgeable income, monitoring and control rights using a unifying and simple framework. The paper then provides a...
Persistent link: https://www.econbiz.de/10005666704