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Book

The Cambridge Companion to Medieval British Manuscripts

Edited by Orietta Da Rold, Elaine Traharne
2020
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Book

Power and Time Temporalities in Conflict and the Making of History

Edited by Natasha Wheatley, Stefanos Geroulanos, Dan Edelstein
University of Chicago Press , 2020

Time is the backdrop of historical inquiry, yet it is much more than a featureless setting for events. Different temporalities interact dynamically; sometimes they coexist tensely, sometimes they clash violently. In this innovative volume, editors Dan Edelstein, Stefanos Geroulanos, and Natasha Wheatley challenge how we interpret history by focusing on the nexus of two concepts—“power” and “time”—as they manifest in a wide variety of case studies.

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Journal Article

The Macroeconomics of Corporate Debt

Markus Brunnermeier, Arvind Krishnamurthy
The Review of Corporate Finance Studies , 2020
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Journal Article

Trade policy under monopolistic competition with firm selection

Kyle Bagwell, Seung Hoon Lee
Journal of International Economics , 2020

We analyze unilateral, efficient and Nash trade policies in a symmetric, two-country version of the Melitz-Ottaviano (2008) model. Starting at global free trade, we show that a country gains from the introduction of (1) a small import tariff; (2) a small export subsidy, if trade costs are low and the dispersion of productivities is high; and (3) an appropriately combined small increase in its import and export tariffs. The welfare of its trading partner, however, falls in each of these three cases.

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Book

Classical Athens as an Epistemic Democracy

Josiah Ober
2020
Chapter in Brill's Companion to the Reception of Athenian Democracy: From the Late Middle Ages to the Contemporary Era
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Book

Time’s Monster: How History Makes History

Priya Satia
Harvard University Press , 2020

For generations, British thinkers told the history of an empire whose story was still very much in the making. While they wrote of conquest, imperial rule in India, the Middle East, Africa, and the Caribbean was consolidated. While they described the development of imperial governance, rebellions were brutally crushed. As they reimagined empire during the two world wars, decolonization was compromised. Priya Satia shows how these historians not only interpreted the major political events of their time but also shaped the future that followed.

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Book

WHAT TECH CALLS THINKING An Inquiry Into the Intellectual Bedrock of Silicon Valley

Adrian Daub
Farrar, Straus and Giroux , 2020

Adrian Daub’s What Tech Calls Thinking is a lively dismantling of the ideas that form the intellectual bedrock of Silicon Valley. Equally important to Silicon Valley’s world-altering innovation are the language and ideas it uses to explain and justify itself. And often, those fancy new ideas are simply old motifs playing dress-up in a hoodie.

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Journal Article

Who Is My Neighbor? The Spatial Efficiency of Partisanship

Nicholas Eubank, Jonathan Rodden
Statistics and Public Policy , 2020
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Journal Article

Spatial Models, Legislative Gridlock, and Resource Policy Reform

Nathan Chael, Christophe Crombez, Pieterjan Vangerven
Annual Review of Resource Economics , 2020

This review evaluates the use of spatial models for the analysis of policymaking. First, we examine spatial theory and its applications in a variety ofinstitutional settings.

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Working Paper

Leveraging the Power of Place: A Data-Driven Decision Helper to Improve the Location Decisions of Economic Immigrants

Jeremy Ferwerda, Nicholas Adams-Cohen, Jennifer Fei, Duncan Lawrence, Jeremy M. Weinstein, Jens Hainmueller
Immigration Policy Lab (IPL) Working Paper Series , 2020

A growing number of countries have established programs to attract immigrants who can contribute to their economy. Research suggests that an immigrant's initial arrival location plays a key role in shaping their economic success. Yet immigrants currently lack access to personalized information that would help them identify optimal destinations. Instead, they often rely on availability heuristics, which can lead to the selection of sub-optimal landing locations, lower earnings, elevated outmigration rates, and concentration in the most well-known locations.

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Working Paper

Equity Duration and Predictability

Benjamin Golez, Peter Koudijs
SSRN , 2020

One of the most puzzling findings in asset pricing is that expected returns dominate variation in the dividend-to-price ratio, leaving little room for dividend growth rates. Even more puzzling is that this dominance only emerged after 1945. We develop a present value model to argue that a general increase in equity duration can explain these findings. As cash flows to investors accrue further into the future, shocks to highly persistent expected returns become relatively more important than shocks to growth rates.

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Journal Article

Do fiscal rules decrease public investment? Evidence from European panel data

Sebastiaan Wijsman, Christophe Crombez
European journal of economics and economic policies intervention , 2020
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Working Paper

Mortgage Amortization and Wealth Accumulation

Asaf Bernstein, Peter Koudijs
SSRN , 2020

Standard mortgage contracts include periodic debt repayment plans (amortization schedules) designed to build-up illiquid savings in the form of home equity, which can be substantial even from a macroeconomic standpoint. For example, U.S. households invest hundreds of ($) billions each year in mortgage amortization plans – comparable in size to pension program contributions. We provide the first empirical evidence on the causal effects of mortgage amortization on wealth accumulation. Ex-ante, effects are unclear.

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Journal Article

Multilateral Trade Bargaining: A First Look at the GATT Bargaining Records

Kyle Bagwell, Robert W. Staiger, Ali Yurukoglu
American Economic Journal: Applied Economics , 2020

This paper empirically examines recently declassified tariff bargaining data from the GATT/WTO. Focusing on the Torquay Round (1950–1951), we document stylized facts about these interconnected high-stakes international negotiations that suggest a lack of strategic behavior among the participating governments and an important multilateral element to the bilateral bargains.

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Working Paper

MPCs, MPEs and Multipliers: A Trilemma for New Keynesian Models

Adrien Auclert, Bence Bardóczy, Matthew Rognlie
NBER , 2020

We establish an impossibility result for New Keynesian models with a frictionless labor market: these models cannot simultaneously match plausible estimates of marginal propensities to consume (MPCs), marginal propensities to earn (MPEs), and fiscal multipliers. A HANK model with sticky wages provides a solution to this trilemma.

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Book

Medieval Manuscripts in the Digital Age

edited by Benjamin Albritton, Georgia Henley, Elaine Treharne
Routledge , 2020

Medieval Manuscripts in the Digital Age explores one major manuscript repository’s digital presence and poses timely questions about studying books from a temporal and spatial distance via the online environment.

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Working Paper

Automated Linking of Historical Data

Ran Abramitzky, Leah Platt Boustan, James J. Feigenbaum, Santiago Pérez
NBER , 2020

The recent digitization of complete count census data is an extraordinary opportunity for social scientists to create large longitudinal datasets by linking individuals from one census to another or from other sources to the census. We evaluate different automated methods for record linkage, performing a series of comparisons across methods and against hand linking. We have three main findings that lead us to conclude that automated methods perform well. First, a number of automated methods generate very low (less than 5%) false positive rates.

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Working Paper

Leaving the Enclave: Historical Evidence on Immigrant Mobility from the Industrial Removal Office

Ran Abramitzky, Leah Platt Boustan, Dylan Connor
NBER , 2020

We study a program that funded 39,000 Jewish households in New York City to leave enclave neighborhoods circa 1910. Compared to their neighbors with the same occupation and income score at baseline, program participants earned 4 percent more ten years after removal, and these gains persisted to the next generation. Men who left enclaves also married spouses with less Jewish names, but they did not choose less Jewish names for their children. Gains were largest for men who spent more years outside of an enclave.

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Journal Article

Colonialism, slavery and ‘The Great Experiment’: Carbon, nitrogen and oxygen isotope analysis of Le Morne and Bois Marchand cemeteries, Mauritius

Emm Lightfoot, Saša Čaval, Diego Calaon, Jo Appleby, Jonathan Santana, Alessandra Cianciosi, Rosa Fregel, Krish Seetah
Journal of Archaeological Science , 2020

Slavery, colonialism and emancipation are important aspects of archaeological research in the Atlantic region, but the lifeways of colonial populations remain understudied in the Indian Ocean World. Here, we help to redress this imbalance by undertaking stable isotope analysis (C, N and O) on human remains from Mauritius, a location which played an important role in the movement of people across the Indian Ocean and beyond.

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Working Paper

Dissecting Mechanisms of Financial Crises: Intermediation and Sentiment

Arvind Krishnamurthy, Wenhao Li
SSRN , 2020

We develop a model of financial crises with both a financial amplification mechanism, via frictional intermediation, and a role for sentiment, via time-varying beliefs about an illiquidity state. We confront the model with data on credit spreads, equity prices, credit, and output across the financial crisis cycle. In particular, we ask the model to match data on the frothy pre-crisis behavior of asset markets and credit, the sharp transition to a crisis where asset values fall, disintermediation occurs and output falls, and the post-crisis period characterized by a slow recovery in output.

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Journal Article

Intermediation in Mortgage-Backed Securities: The Plantation Business of F.W. Hudig, 1759-1797

Abe de Jong, Tim Kooijmans, Peter Koudijs
SSRN , 2020

Dutch-Caribbean plantations attracted substantial outside funding in the 1760s. This came to an abrupt end after the 1773 credit crisis. We use one banker’s detailed archives to analyze how bankers and investors were initially able to overcome asymmetric information problems, and why the system eventually broke down. Bankers oversaw plantations’ cash flows and placed debt with investors in the form of mortgage-backed securities. Strong growth led to lax screening and an oversupply of credit. After a fall in commodity prices, plantation debts were unsustainable.

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Journal Article

Using Conjoint Experiments to Analyze Elections: The Essential Role of the Average Marginal Component Effect (AMCE)

Kirk Bansak, Jens Hainmueller, Daniel J. Hopkins, Teppei Yamamoto
SSRN , 2020

Political scientists have increasingly deployed conjoint survey experiments to understand multi-dimensional choices in various settings. We begin with a general framework for analyzing voter preferences in multi-attribute elections using conjoints. With this framework, we demonstrate that the Average Marginal Component Effect (AMCE) is well-defined in terms of individual preferences and represents a central quantity of interest to empirical scholars of elections: the effect of a change in an attribute on a candidate or party's expected vote share.

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