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Firms’ borrowing costs and neighbors’ flood risk Small Bus. Econ. (IF 7.096) Pub Date : 2024-05-18 Thomas Bassetti, Lorenzo Dal Maso, Valentina Pieroni
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Recent Referees Journal of Political Economy (IF 9.637) Pub Date : 2024-05-17
Journal of Political Economy, Volume 132, Issue 5, May 2024.
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JPE Turnaround Times Journal of Political Economy (IF 9.637) Pub Date : 2024-05-17
Journal of Political Economy, Volume 132, Issue 5, Page 1792-1792, May 2024.
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Front Matter Journal of Political Economy (IF 9.637) Pub Date : 2024-05-17
Journal of Political Economy, Volume 132, Issue 5, May 2024.
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Granular Instrumental Variables Journal of Political Economy (IF 9.637) Pub Date : 2024-05-17 Xavier Gabaix, Ralph S. J. Koijen
Journal of Political Economy, Ahead of Print.
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Financial constraints, cash flow timing patterns, and asset prices J. Financ. Econ. (IF 8.238) Pub Date : 2024-05-17 Weiping Hu, Kai Li, Xiao Zhang
We show that firms collect almost 70% of their cash flows in the second half of the fiscal year, and that firms that collect more cash by year-end earn a 6.8% higher per annum risk premium and save more cash. We rationalize these facts in a quantitative investment-based asset pricing model. Immediate cash payments negatively affect profitability, but reduce equity financing costs by increasing information
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Microfranchising and necessity entrepreneurs Small Bus. Econ. (IF 7.096) Pub Date : 2024-05-16 Brett R. Devine
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The carbon premium: Correlation or causality? Evidence from S&P 500 companies Energy Econ. (IF 12.8) Pub Date : 2024-05-14 Namasi G. Sankar, Suryadeepto Nag, Siddhartha P. Chakrabarty, Sankarshan Basu
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Linking biases and paradoxes in the family entrepreneurship context: an integrative framework for future research Small Bus. Econ. (IF 7.096) Pub Date : 2024-05-13 Minas N. Kastanakis, Katerina Kampouri, Christian Linder, Michael Christofi, Alfredo De Massis
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The rebound effect of material and energy efficiency for the EU and its major trading partners Energy Econ. (IF 12.8) Pub Date : 2024-05-13 Etem Karakaya, Sedat Alataş, Elif Erkara, Betül Mert, Tuğba Akdoğan, Burcu Hiçyılmaz
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When the markets get CO.V.I.D: COntagion, Viruses, and Information Diffusion J. Financ. Econ. (IF 8.238) Pub Date : 2024-05-13 Maria Jose Arteaga-Garavito, Mariano M. Croce, Paolo Farroni, Isabella Wolfskeil
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Credible Persuasion Journal of Political Economy (IF 9.637) Pub Date : 2024-05-10 Xiao Lin, Ce Liu
Journal of Political Economy, Ahead of Print.
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Redistributive Allocation Mechanisms Journal of Political Economy (IF 9.637) Pub Date : 2024-05-10 Mohammad Akbarpour, Piotr Dworczak, Scott Duke Kominers
Journal of Political Economy, Ahead of Print.
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Organizing transactions between entrepreneurs and human capital resources under Knightian uncertainty Small Bus. Econ. (IF 7.096) Pub Date : 2024-05-09 Ryan W. Angus, Matthew A. Barlow
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The cost of health insurance and entry into entrepreneurship Small Bus. Econ. (IF 7.096) Pub Date : 2024-05-09 Frank M. Fossen, Mobarak Hossain, Sankar Mukhopadhyay, Peter Toth
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Foreign Debt, Capital Controls, and Secondary Markets: Theory and Evidence from Nazi Germany Journal of Political Economy (IF 9.637) Pub Date : 2024-05-09 Andrea Papadia, Claudio A. Schioppa
Journal of Political Economy, Ahead of Print.
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Unraveling the crystal ball: Machine learning models for crude oil and natural gas volatility forecasting Energy Econ. (IF 12.8) Pub Date : 2024-05-10 Aviral Kumar Tiwari, Gagan Deep Sharma, Amar Rao, Mohammad Razib Hossain, Dhairya Dev
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Forecasting oil futures returns with news Energy Econ. (IF 12.8) Pub Date : 2024-05-10 Zhiyuan Pan, Hao Zhong, Yudong Wang, Juan Huang
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Regulatory arbitrage or random errors? Implications of race prediction algorithms in fair lending analysis J. Financ. Econ. (IF 8.238) Pub Date : 2024-05-10 Daniel L. Greenwald, Sabrina T. Howell, Cangyuan Li, Emmanuel Yimfor
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Debtor income manipulation in consumer credit contracts J. Financ. Econ. (IF 8.238) Pub Date : 2024-05-10 Vyacheslav Mikhed, Sahil Raina, Barry Scholnick, Man Zhang
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Realizing expectations? High-impact entrepreneurship across countries Small Bus. Econ. (IF 7.096) Pub Date : 2024-05-04 Johannes Kleinhempel, Saul Estrin
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Crowding in Private Quality: The Equilibrium Effects of Public Spending in Education Q. J. Econ. (IF 13.7) Pub Date : 2024-05-09 Tahir Andrabi, Natalie Bau, Jishnu Das, Naureen Karachiwalla, Asim Ijaz Khwaja
We estimate the equilibrium effects of a public school grant program administered through school councils in Pakistani villages with multiple public and private schools and clearly defined catchment boundaries. The program was randomized at the village-level, allowing us to estimate its causal impact on the market. Four years after the start of the program, test scores were 0.2 sd higher in public
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A time-frequency-based interval decomposition ensemble method for forecasting gasoil prices under the trend of low-carbon development Energy Econ. (IF 12.8) Pub Date : 2024-05-09 Zichun Yan, Fangzhu Tian, Yuying Sun, Shouyang Wang
Given that gasoil plays a crucial role in carbon emission reduction, in this paper we propose a time-frequency-based interval decomposition ensemble (TFIDE) learning approach to forecast gasoil prices and capture the nonlinear impact of the global trend of low-carbon development on gasoil prices. The proposed method integrates bivariate empirical mode decomposition (BEMD), an interval multilayer perceptron
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Integrated geo-techno-economic and real options analysis of the decision to invest in a medium enthalpy deep geothermal heating plant. A case study in Northern Belgium Energy Econ. (IF 12.8) Pub Date : 2024-05-09 Spiros Gkousis, Kris Welkenhuysen, Virginie Harcouët-Menou, Justin Pogacnik, Ben Laenen, Tine Compernolle
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The limits of waste as a resource: a critique and a proposition towards a new scalar imagination for the circular economy model Camb. J. Reg. Econ. Soc. (IF 5.176) Pub Date : 2024-05-09 Stylianos Zavos, Olli Pyyhtinen
In the article, we critically confront the idea of waste-to-resource at the heart of the circular economy. We discuss some of the blind spots and shortcomings of three circular economy principles: designing out waste, emulating natural systems and decoupling economic growth from resource use. We suggest that their limitations are intimately connected to a scalar reasoning ruled by strict, disjunctive
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Are artificial intelligence and blockchain the key to unlocking the box of clean energy? Energy Econ. (IF 12.8) Pub Date : 2024-05-08 Shengyao Yang, Meng Nan Zhu, Haiyan Yu
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Investments in transmission lines and storage units considering second-order stochastic dominance constraints Energy Econ. (IF 12.8) Pub Date : 2024-05-08 Ruth Domínguez, Miguel Carrión, Sebastiano Vitali
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Global, Arctic, and Antarctic sea ice volume predictions using score-driven threshold climate models Energy Econ. (IF 12.8) Pub Date : 2024-05-07 Szabolcs Blazsek, Alvaro Escribano, Erzsebet Kristof
The literature on sea ice predictions uses a variety of general circulation models (GCMs), which suggest diverse predictions of the date of ice-free or almost ice-free oceans, and focus mainly on the Arctic. GCMs are not sensitive enough to tipping points in the Atlantic meridional overturning circulation (AMOC), and they underestimate the sensitivity of Arctic sea ice to carbon emissions. We contribute
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Warming the MATRIX: Uncertainty and heterogeneity in climate change impacts and policy targets in the Euro Area Energy Econ. (IF 12.8) Pub Date : 2024-05-07 Davide Bazzana, Massimiliano Rizzati, Emanuele Ciola, Enrico Turco, Sergio Vergalli
This paper explores the potential impacts of climate change and mitigation policies in the Euro Area, considering the uncertainty and heterogeneity in both climate and economic systems. Using the MATRIX model, a multi-sector and multi-agent macroeconomic model, we simulate various climate scenarios by employing different carbon cycle models, damage functions, and marginal abatement curves found in
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Associative memory, beliefs and market interactions J. Financ. Econ. (IF 8.238) Pub Date : 2024-05-07 Benjamin Enke, Frederik Schwerter, Florian Zimmermann
Recent theories and narratives highlight the potential role of associative recall in driving overreaction in expectations and market behavior. Based on a simple model, we test this idea through a series of experiments in which news are communicated with memorable contexts. Because the experimental participants predominantly remember those past news that get cued by new information, their beliefs about
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The weed, asbestos pipe and disposable tree: unmuting multispecies Flemish and Norwegian circular site stories for diverse circular economies Camb. J. Reg. Econ. Soc. (IF 5.176) Pub Date : 2024-05-07 Wendy Wuyts
This study explores diverse circular economies and methods of multispecies ethnography in Vorselaar, Belgium and Røros, Norway, to identify care-full justice in small-scale places and to challenge traditional anthropocentric and capitalocentric models. This study unearths circular site stories in Vorselaar’s community-driven sustainability practices and Røros’s integration of cultural heritage in its
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Does cap-and-trade scheme impact energy efficiency and firm value? Empirical evidence from India Energy Econ. (IF 12.8) Pub Date : 2024-05-06 Kalyani Pal, Jyoti Prasad Mukhopadhyay, Praveen Bhagawan
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Unobserved Inputs in Household Production Journal of Political Economy (IF 9.637) Pub Date : 2024-05-03 Sergey Mityakov, Thomas A. Mroz
Journal of Political Economy, Ahead of Print.
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The Health Costs of Cost-Sharing Q. J. Econ. (IF 13.7) Pub Date : 2024-05-04 Amitabh Chandra, Evan Flack, Ziad Obermeyer
What happens when patients suddenly stop their medications? We study the health consequences of drug interruptions caused by large, abrupt, and arbitrary changes in price. Medicare’s prescription drug benefit as-if-randomly assigns 65-year-olds a drug budget as a function of their birth month, beyond which out-of-pocket costs suddenly increase. Those facing smaller budgets consume fewer drugs and die
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Exploiting the sentiments: A simple approach for improving cross hedging effectiveness Energy Econ. (IF 12.8) Pub Date : 2024-05-03 Zhiyuan Pan, Ziqian Fu, Yudong Wang, Qingma Dong
This paper introduces a novel hedging strategy based on textual information for cross-hedging. The strategy allows the optimal hedge ratio to vary with the sentiment extracted from online oil news, leading to an improvement in cross-hedging effectiveness. We find that the sentiment hedging strategy outperforms traditional time-varying and static hedging strategies in both in-sample and out-of-sample
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Spillover effects of energy transition metals in Chile Energy Econ. (IF 12.8) Pub Date : 2024-05-03 Pablo Agnese, Francisco Rios
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Childcare Markets, Parental Labor Supply, and Child Development Journal of Political Economy (IF 9.637) Pub Date : 2024-05-01 Samuel Berlinski, Maria Marta Ferreyra, Luca Flabbi, Juan David Martin
We develop and estimate a model of supply and demand for childcare. On the demand side, households make consumption, labor supply, and childcare decisions. On the supply side, centers make entry, price, and quality decisions. In addition, both paid and informal caregivers are available. Child development is a function of the time spent with parents and nonparental care providers. We estimate the model
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The Value of Arbitrage Journal of Political Economy (IF 9.637) Pub Date : 2024-05-01 Eduardo Dávila, Daniel Graves, Cecilia Parlatore
Journal of Political Economy, Ahead of Print.
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Financial inclusion, economic development, and inequality: Evidence from Brazil J. Financ. Econ. (IF 8.238) Pub Date : 2024-05-02 Julia Fonseca, Adrien Matray
We study a financial inclusion policy targeting Brazilian cities with low bank branch coverage using data on the universe of employees from 2000–2014. The policy leads to bank entry and to similar increases in both deposits and lending. It also fosters entrepreneurship, employment, and wage growth, especially for cities initially in banking deserts. These gains are not shared equally and instead increase
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Pricing behavior of clean energy stocks? Some trading implications Energy Econ. (IF 12.8) Pub Date : 2024-05-01 Paresh Kumar Narayan
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Financial warning for coal mining investments: Evidence from the fruit fly optimisation algorithm with backpropagation neural networks Energy Econ. (IF 12.8) Pub Date : 2024-05-01 Xiaocong Ren, Zilong Huang, Yiqun He
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Measuring crisis from climate risk spillovers in European electricity markets Energy Econ. (IF 12.8) Pub Date : 2024-04-30 Wanli Zhao, Xiangyang Zhai, Qiang Ji, Zhenhua Liu
This paper studies how climate risks spill over to European electricity markets across time and frequency domains using the connectedness network approach. By introducing three climate risk measures—the climate policy uncertainty index, climate physical risk index, and climate concern index—the empirical results reveal the vulnerability of European electricity markets to volatile climate policies and
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What does it mean to be ‘left behind?’ Camb. J. Reg. Econ. Soc. (IF 5.176) Pub Date : 2024-04-30 Ann M Eisenberg
This comment critiques the idea of geographic regions being “left behind.” It argues that the term frames the regions in question as passive experiencers of natural phenomena, in turn obfuscating the structural forces that have shaped those regions and local populations’ efforts to pursue better living conditions. The comment draws on three examples from the rural United States to illustrate how the
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Learning from the best: how regional knowledge stimulates circular economy transition at company level Camb. J. Reg. Econ. Soc. (IF 5.176) Pub Date : 2024-04-30 Rahel Meili, Tobias Stucki, Ingrid Kissling-Näf
This paper investigates whether, and what kind of, regional knowledge has a stimulating effect on circular economy (CE) innovation by companies. We thus add to the literature on regional knowledge spillovers, which has rarely focussed explicitly on the CE. For the empirical study, we create econometric regressions based on a representative dataset with extensive information on the CE activities of
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Ambiguity and private investors’ behavior after forced fund liquidations J. Financ. Econ. (IF 8.238) Pub Date : 2024-04-29 Steffen Meyer, Charline Uhr
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Equity markets and ESG dynamics: Assessing spillovers and portfolio strategies through time-varying parameters Energy Econ. (IF 12.8) Pub Date : 2024-04-26 Yi Wang, Shoaib Ali, Muhammad Ayaz
Motivated by the recent surge of socially responsible activism, we examine the return and volatility transmission between the global Environmental, Governance, and Social index and traditional equity markets of G7 countries. For this purpose, we employ the TVP-VAR model on the returns and volatilities from 04 April 2011 to 09 September 2023. The variance co-variance matrix of the TVP-VAR model is used
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How does fiscal policy affect the green low-carbon transition from the perspective of the evolutionary game? Energy Econ. (IF 12.8) Pub Date : 2024-04-26 Nan Feng, Jiamin Ge
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International climate policy dilemmas: Examining effective carbon tariff and cap-and-trade regulation from a sustainable insurance perspective Energy Econ. (IF 12.8) Pub Date : 2024-04-26 Xuelian Li, Wei Zhou, Tang-Yun Lo, Jyh-Horng Lin
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Estimating the direct rebound effect for residential electricity use in seventeen European countries: Short and long-run perspectives Energy Econ. (IF 12.8) Pub Date : 2024-04-26 Camille Massié, Fateh Belaïd
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Gradual information diffusion across commonly owned firms J. Financ. Econ. (IF 8.238) Pub Date : 2024-04-26 Jie Ying
This paper studies how common institutional ownership (CIO) affects information diffusion in the stock market. My findings suggest that CIO can exacerbate the slow spread of information across firms. With over 50% of institutional investors holding concentrated stock portfolios, I infer a fundamental connection among firms with CIO. These firms exhibit cross-predictability in monthly stock returns
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Something new under the sun. A spatial econometric analysis of the adoption of photovoltaic systems in Italy Energy Econ. (IF 12.8) Pub Date : 2024-04-25 A. Pronti, R. Zoboli
This paper analyses the adoption of photovoltaic systems (PV) in Italy. We employ a spatial econometric approach applied to province-level data for 2015–2021 to identify the main determinants of PV adoption and to gauge both the potential bias deriving from spatial dependence and the spillover effects affecting neighboring areas in PV diffusion. We test different spatial econometric models and different
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Can artificial intelligence help accelerate the transition to renewable energy? Energy Econ. (IF 12.8) Pub Date : 2024-04-25 Qian Zhao, Lu Wang, Sebastian-Emanuel Stan, Nawazish Mirza
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Understanding the spillover effects of ethanol production and energy prices on African food markets: A time-varying approach Energy Econ. (IF 12.8) Pub Date : 2024-04-25 Tetsuji Tanaka, Jin Guo, Xiufang Wang
Amidst recent global uncertainty caused by events such as the COVID-19 pandemic and wars, African countries are finding it even more challenging than before to achieve food security. This study utilizes the time-varying parameter vector autoregression (TVP-VAR)–based extended joint connectedness model to analyze the impact of external factors, such as U.S. ethanol production, grain speculation, international
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From policy stringency to environmental resilience: Unraveling the dose-response dynamics of environmental parameters in OECD countries Energy Econ. (IF 12.8) Pub Date : 2024-04-25 Kazi Sohag, Md. Monirul Islam, Shawkat Hammoudeh
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Uplifting India from severe energy poverty accounting for strong asymmetries: Do inclusive financial development, digitization and human capital help reduce the asymmetry? Energy Econ. (IF 12.8) Pub Date : 2024-04-25 Atif Jahanger, Mohammad Razib Hossain, Ashar Awan, Tomiwa Sunday Adebayo
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Extreme co-movements between decomposed oil price shocks and sustainable investments Energy Econ. (IF 12.8) Pub Date : 2024-04-25 Xunfa Lu, Pengchao He, Zhengjun Zhang, Nicholas Apergis, David Roubaud
This paper investigates the extreme co-movements between three types of decomposed oil price shocks, e.g., supply shock, demand shock, and risk shock, and sustainable investments, using the generalized extreme value - autoregressive conditional Fréchet - tail quotient correlation coefficient (GEV-AcF-TQCC) analytical framework. The empirical results have identified that there are regular extreme co-movements
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Does carbon ETS affect the distribution of labor's slice of the factor income pie? From the low carbon transition perspective Energy Econ. (IF 12.8) Pub Date : 2024-04-25 Fan Yu, Shilin Zheng, Shuhong Zheng, Chenhao Guo
The carbon emission trading scheme (hereafter ETS) impacts firms' production decisions and promotes them to achieve low-carbon transition. This transition entails the movement of both labor and capital factors and consequently triggers re-distribution of factor income. To analyze the impacts of the carbon ETS on factor income distribution, we first theoretically incorporate carbon emission permit as
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Consumer Search, Steering, and Choice Overload Journal of Political Economy (IF 9.637) Pub Date : 2024-04-23 Volker Nocke, Patrick Rey
We develop a model of within-firm sequential, directed search and study a firm’s ability and incentive to steer consumers. We find that the firm often benefits from adopting a noisy positioning strategy, which limits the information available to consumers. This induces consumers to keep searching but discourages some of them from visiting the firm. This occurs even though the firm and the consumers
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On the Joint Evolution of Culture and Political Institutions: Elites and Civil Society Journal of Political Economy (IF 9.637) Pub Date : 2024-04-23 Alberto Bisin, Thierry Verdier
We provide an abstract model of the interaction between culture and political institutions. The model is designed to study the political economy of elites and civil society on the determination of long-run socioeconomic activity. We characterize conditions such that the cultural traits of elites and civil society and the institutions determining their relative political power complement (substitute)
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How does green finance promote renewable energy technology innovation? A quasi-natural experiment perspective Energy Econ. (IF 12.8) Pub Date : 2024-04-24 Rabindra Nepal, Yang Liu, Jianda Wang, Kangyin Dong