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China's Financial System and Economy : A Review
He, Zhiguo; Wei, Wei - National Bureau of Economic Research - 2022
China's financial system has been integral to its spectacular economic growth over the past 40 years. We review the recent literature on China's financial system and its connections to the Chinese economy based on the categories of Aggregate Financing to the Real Economy (AFRE), a broad measure...
Persistent link: https://www.econbiz.de/10013361979
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The Great Leveraging
Taylor, Alan M. - 2012
What can history tell us about the relationship between the banking system, financial crises, the global economy, and economic performance? Evidence shows that in the advanced economies we live in a world that is more financialized than ever before as measured by importance of credit in the...
Persistent link: https://www.econbiz.de/10012460371
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Port Efficiency, Maritime Transport Costs and Bilateral Trade
Clark, Ximena - 2004
determinant of shipping costs. Improving port efficiency from the 25th to the 75th percentile reduces shipping costs by 12 percent … explain variations in port efficiency and find that they are linked to excessive regulation, the prevalence of organized crime …
Persistent link: https://www.econbiz.de/10012468340
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How to Auction an Essential Facility When Underhand Integration is Possible
Engel, Eduardo M.R.A. - 2001
There are many industries in which potentially competitive segments require services provided by natural monopoly bottlenecks (essential facilities). Since it is difficult to regulate these facilities, developing countries are using Demsetz auctions, where the facility is awarded to the firm...
Persistent link: https://www.econbiz.de/10012470580
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Investment in Infrastructure and Trade : The Case of Ports
Brancaccio, Giulia; Kalouptsidi, Myrto; Papageorgiou, … - National Bureau of Economic Research - 2024
theory to capture port technology, with tools from demand estimation. We use our framework, together with a collection of … unveils three policy-relevant messages: (i) investing in port infrastructure can lead to substantial trade and welfare gains …) there are sizable spillovers across ports, as investing in one port can decongest a wider set of ports, suggesting that …
Persistent link: https://www.econbiz.de/10014544781
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Identifying Agglomeration Shadows : Long-run Evidence from Ancient Ports
Hornbeck, Richard; Michaels, Guy; Rauch, Ferdinand - National Bureau of Economic Research - 2024
We examine "agglomeration shadows" that emerge around large cities, which discourage some economic activities in nearby areas. Identifying agglomeration shadows is complicated, however, by endogenous city formation and "wave interference" that we show in simulations. We use the locations of...
Persistent link: https://www.econbiz.de/10014576663
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Contracts with Interdependent Preferences
Ray, Debraj; Weretka, Marek - National Bureau of Economic Research - 2024
This paper studies contracting between a principal and multiple agents. The setup is classical except for the assumption that agents have interdependent preferences. We characterize cost effective contracts, and relate the direction of co-movement in rewards -- "joint liability" (positive) or...
Persistent link: https://www.econbiz.de/10014512144
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Dynamic Inconsistency in Risky Choice : Evidence from the Lab and Field
Heimer, Rawley; Iliewa, Zwetelina; Imax, Alex; Weber, Martin - National Bureau of Economic Research - 2023
We document a robust dynamic inconsistency in risky choice. Using a unique brokerage dataset and a series of experiments, we compare people's initial risk-taking plans to their subsequent decisions. Across settings, people accept risk as part of a "loss-exit" strategy--planning to continue...
Persistent link: https://www.econbiz.de/10014226107
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Nudging the Nudger : A Field Experiment on the Effect of Performance Feedback to Service Agents on Increasing Organ Donor Registrations
House, Julian; Lacetera, Nicola; Macis, Mario; Mažar, Nina - National Bureau of Economic Research - 2022
We conducted a randomized controlled trial involving nearly 700 customer-service representatives (CSRs) in a Canadian government service agency to study whether providing CSRs with performance feedback with or without peer comparison affected their subsequent organ donor registration rates....
Persistent link: https://www.econbiz.de/10013435109
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The Impact of Joint versus Separate Prediction Mode on Forecasting Accuracy
Imas, Alex; Jung, Minah H.; Saccardo, Silvia; Vosgerau, … - National Bureau of Economic Research - 2022
interventions and treatment changes. We present applications to managerial decision-making and forecasting of scientific results …
Persistent link: https://www.econbiz.de/10013435173