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Global Hegemony and Exorbitant Privilege
Pflueger, Carolin - 2024
We present a dynamic two-country model in which military spending, geopolitical risk, and government bond prices are jointly determined. The model is consistent with three empirical facts: hegemons have a funding advantage, this advantage rises with geopolitical tensions, and war losers suffer...
Persistent link: https://www.econbiz.de/10015056136
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Investing with the Government : A Field Experiment in China
Colonnelli, Emanuele; Li, Bo; Liu, Ernest - National Bureau of Economic Research - 2022
We study the demand for government participation in China's venture capital and private equity market. We conduct a large-scale, non-deceptive field experiment in collaboration with the leading industry service provider, through which we survey both sides of the market: the capital investors and...
Persistent link: https://www.econbiz.de/10013334380
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War Does not Foster Cooperation when Neoclassical Mechanisms are Absent! Evidence from a Natural Experiment among Turkish Conscripts
Kıbrıs, Arzu; Cesur, Resul - National Bureau of Economic Research - 2022
conflict exposure (ACE) among Turkish conscripts. Our empirical framework identifies the causal impact and the mediating … increases opposition to peaceful means of conflict resolution and animosity towards minorities and promotes the tendency to …
Persistent link: https://www.econbiz.de/10013462722
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Measuring the Tolerance of the State : Theory and Application to Protest
Andirin, Veli; Neggers, Yusuf; Shadmehr, Mehdi; … - National Bureau of Economic Research - 2022
We develop a measure of a regime's tolerance for an action by its citizens. We ground our measure in an economic model and apply it to the setting of political protest. In the model, a regime anticipating a protest can take a costly action to repress it. We define the regime's tolerance as the...
Persistent link: https://www.econbiz.de/10013334386
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Mistrust, Misperception, and Misunderstanding : Imperfect Information and Conflict Dynamics
Acemoglu, Daron; Wolitzky, Alexander - National Bureau of Economic Research - 2023
-degenerate higher-order beliefs) can lead to conflict and drive its dynamics. We develop our analysis in the context of three classic … learning about the opponent's type, as well as the possibility of conflict spirals, traps, and cycles; and a deterrence model …. We relate these models to the empirical literature and to current and historical episodes of conflict …
Persistent link: https://www.econbiz.de/10014372438
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Banks in Space
Oberfield, Ezra; Rossi-Hansberg, Esteban; Trachter, Nicholas - National Bureau of Economic Research - 2024
We study the spatial expansion of banks in response to banking deregulation in the 1980s and 90s. During this period, large banks expanded rapidly, mostly by adding new branches in new locations, while many small banks exited. We document that large banks sorted into the densest markets, but...
Persistent link: https://www.econbiz.de/10014512110
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Scaling Smart Contracts via Layer-2 Technologies : Some Empirical Evidence
Cong, Lin William; Hui, Xiang; Tucker, Catherine; Zhou, … - National Bureau of Economic Research - 2023
Blockchain-based smart contracts can potentially replace certain traditional contracts through decentralized enforcement and reduced transaction costs. However, scalability is a key bottleneck hindering their broader application and adoption, often leading to concentrated or exclusive networks....
Persistent link: https://www.econbiz.de/10014226109
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Managers and Productivity in Retail
Metcalfe, Robert D.; Sollaci, Alexandre B.; Syverson, Chad - National Bureau of Economic Research - 2023
Across many sectors, research has established that management explains a notable portion of productivity differences across organizations. A remaining question, however, is whether it is managers themselves or firm-wide management practices that matter. We shed light on this question by...
Persistent link: https://www.econbiz.de/10014250209
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Information Aggregation and Transmission in Strategic Networks
Kung, Fan-chin; Wang, Ping - National Bureau of Economic Research - 2022
Observing the increasingly important roles played by the creation and transmission of information and tacit knowledge, we construct an information-network model incorporating both information transmitters and information aggregators. Given information-processing roles in aggregation or...
Persistent link: https://www.econbiz.de/10013435147
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Scope, Scale and Concentration : The 21st Century Firm
Hoberg, Gerard; Phillips, Gordon M. - National Bureau of Economic Research - 2022
We provide evidence that over the past 30 years, U.S. firms have expanded their scope of operations. Increases in scope and scale were achieved largely without increasing traditional operating segments. Scope expansion significantly increases valuation and is primarily realized through...
Persistent link: https://www.econbiz.de/10013462720