Number of found documents: 657
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Sexual-orientation discrimination and biological attributions: experimental evidence from Russia
Baghumyan, Gayane
2023 - English
Understanding what drives discriminatory behavior is important in order to identify the best strategy to combat it. In this study, I exogenously manipulate participants’ beliefs about the origins of sexual orientation by providing evidence that supports biological causes of homosexuality. I employ money allocation tasks to measure discrimination. This allows me to causally identify the impact of information on discriminatory behavior. I first document the prevalence of discrimination against individuals with same-sex partners in Russia. On average, roughly 54% of participants exhibit discriminatory behavior against profiles with same-sex partners by allocating 16 percentage points less money to them. Further, the results suggest that exposure to evidence on the biological causes of homosexuality negatively affects discriminatory behavior. Participants in the treatment group allocate less money to profiles with same-sex partners, relative to participants in the baseline group. Potential rationales for this behavior could include the following: (i) the provision of information that contradicts existing beliefs might cause cognitive dissonance, triggering irritation and intensifying discriminatory tendencies, (ii) the information might foster beliefs that individuals in same-sex partnerships are fundamentally ’other’ - even at a biological level - thereby widening the perceived social gap between participants and these sexual minority groups and fostering discrimination further. Keywords: discrimination; information; sexual minorities Fulltext is available at external website.
Sexual-orientation discrimination and biological attributions: experimental evidence from Russia

Understanding what drives discriminatory behavior is important in order to identify the best strategy to combat it. In this study, I exogenously manipulate participants’ beliefs about the origins of ...

Baghumyan, Gayane
Národohospodářský ústav, 2023

Racial discrimination and lost innovation: evidence from US inventors, 1895–1925
Coluccia, D. M.; Dossi, G.; Ottinger, Sebastian
2023 - English
How can racial discrimination harm innovation? We study this question using data on US inventors linked to population censuses in 1895-1925. Our novel identification strategy leverages plausibly exogenous variation in the timing of lynchings and the name of the victims.\nWe find an immediate and persistent decrease in patents granted to inventors who share their names with the victims of lynchings, but only when victims are Black. We hypothesize that lynchings accentuate the racial content of the victim’s name to patent examiners,\nwho do not observe inventor race from patent applications. We interpret these findings as evidence of discrimination by patent examiners and provide evidence against alternative mechanisms. Keywords: discrimination; innovation; lynchings Fulltext is available at external website.
Racial discrimination and lost innovation: evidence from US inventors, 1895–1925

How can racial discrimination harm innovation? We study this question using data on US inventors linked to population censuses in 1895-1925. Our novel identification strategy leverages plausibly ...

Coluccia, D. M.; Dossi, G.; Ottinger, Sebastian
Národohospodářský ústav, 2023

Quo vadis? Evidence on new firm-bank matching and firm performance following “sin” bank closures
Goncharenko, R.; Mamonov, Mikhail; Ongena, S.; Popova, S.; Turdyeva, N.
2023 - English
In this paper, we analyze how firms search for new lenders after a financial regulator forcibly closes their prior banks, and what happens to the firms’ performance during this transition period. In 2013, the Central Bank of Russia launched a large-scale bank closure policy and started detecting fraudulent (sin) banks and revoking their licenses. By 2020, two-thirds of all operating banks had been shuttered. We analyze this unique period in history using credit register data. First, we establish that before sin bank closures, there was no informational leakage and the borrowing firms remain unaffected. After the closures, there is a clear sorting pattern: poorly-performing firms rush to other (not-yet-detected) sin banks, while profitable firms transfer to financially solid banks. We find that the coupling of poorly-performing firms and not-yet-detected sin banks occurs more frequently when the two sin banks (the prior and the next lender) are commonly owned or when the local banking market is unconcentrated. Finally, we show that during the transition period (i.e., after the sin bank closures and before matching to new banks), poorly-performing firms shrink in size and experience a sharp decline in borrowings and market sales, whereas profitable firms strengthen in terms of employment, investment, and market sales. A potential mechanism involves credit risk underpricing by sin banks: we find that poorly-performing firms (especially commonly owned) received loans at lower interest rates than profitable firms prior to sin bank closures. Keywords: credit register; bank clean-up; regulatory forbearance Fulltext is available at external website.
Quo vadis? Evidence on new firm-bank matching and firm performance following “sin” bank closures

In this paper, we analyze how firms search for new lenders after a financial regulator forcibly closes their prior banks, and what happens to the firms’ performance during this transition period. In ...

Goncharenko, R.; Mamonov, Mikhail; Ongena, S.; Popova, S.; Turdyeva, N.
Národohospodářský ústav, 2023

The price of war: macroeconomic and cross-sectional effects of sanctions on Russia
Mamonov, Mikhail; Pestova, Anna
2023 - English
How much do sanctions harm the sanctioned economy? We examine the case of Russia, which has faced three major waves of international sanctions over the last decade (in 2014, 2017, and 2022). In a VAR model of the Russian economy, we first apply sign restrictions to isolate shocks to international credit supply to proxy for the financial sanctions shocks. We provide a microeconomic foundation for the sign restriction approach by exploiting the syndicated loan deals in Russia. We then explore the effects of the overall sanctions shocks (financial, trade, technological, etc.) by employing a high-frequency identification (HFI) approach. Our HFI is based on each OFAC/EU sanction announcement and the associated daily changes in the yield-to-maturity of Russia’s US dollar-denominated sovereign bonds. Our macroeconomic estimates indicate that Russia’s GDP may have lost no more than 0.8% due to the financial sanctions shock, and up to 3.2% due to the overall sanctions shock cumulatively over the 2014–2015 period. In 2017, the respective effects are 0 and 0.5%, and in 2022, they are 8 and 12%. Our cross-sectional estimates show that the real income of richer households declines by 1.5–2.0% during the first year after the sanctions shock, whereas the real income of poorer households rises by 1.2% over the same period. Finally, we find that the real total revenue of large firms with high (low) TFPs declines by 2.2 (4.0)% during the first year after the sanctions shock, whereas the effects on small firms are close to zero. Overall, our results indicate heterogeneous effects of sanctions with richer households residing in big cities and larger firms with high TFPs being affected the most. Keywords: sanctions news shock; monetary policy; commodity terms-of-trade Fulltext is available at external website.
The price of war: macroeconomic and cross-sectional effects of sanctions on Russia

How much do sanctions harm the sanctioned economy? We examine the case of Russia, which has faced three major waves of international sanctions over the last decade (in 2014, 2017, and 2022). In a VAR ...

Mamonov, Mikhail; Pestova, Anna
Národohospodářský ústav, 2023

Quantitative easing in the euro area: implications for income and wealth inequality
Stojanović, Dušan
2023 - English
This study examines how and to what extent quantitative easing of the ECB affects household income and wealth inequality in the euro area. Previous theoretical models have investigated the dynamics of inequality measures through differential access of households to financial/capital market (the portfolio rebalancing channel), neglecting the labor market differential (the earnings heterogeneity channel). Although the portfolio rebalancing channel may provide insight into wealth inequality and non-labor income inequality, this is not the case with labor (and thus total) income inequality. To be in line with the empirical evidence on labor income inequality, this study also considers segmented labor market on the basis of capital-skill complementarity in production and asymmetric real wage rigidities. When only financial market segmentation is considered, the quantitative results indicate a drop in total income inequality that is diminished over time, while wealth inequality experiences a rise that gradually becomes weaker. The introduction of the segmented labor market significantly mitigates the observed drop in total income inequality, while a rise in wealth inequality is largely amplified. Given the possible broadening of the ECB’s mandate towards distributional issues in the future, the analysis of segmented labor and financial markets can be more beneficial to the ECB as it provides a clearer picture of the inequality effects. Keywords: quantitative easing; capital-skill complementarity; asymmetric real wage rigidity Fulltext is available at external website.
Quantitative easing in the euro area: implications for income and wealth inequality

This study examines how and to what extent quantitative easing of the ECB affects household income and wealth inequality in the euro area. Previous theoretical models have investigated the dynamics of ...

Stojanović, Dušan
Národohospodářský ústav, 2023

Disclosure discrimination: an experiment focusing on communication in the hiring process
Badalyan, S.; Korlyakova, Darya; Rehák, Rastislav
2023 - English
We focus on communication among hiring team members and document the existence of discrimination in the disclosure of information about candidates. In particular, we conduct an online experiment with a nationally representative sample of Czech individuals who act as human resource assistants and hiring managers in our online labor market. The main novel feature of our experiment is the monitoring of information flow between human resource assistants and hiring managers. We exogenously manipulate candidates’ names to explore the causal effects of their gender and nationality on information that assistants select for managers. Our findings reveal that assistants disclose more information about family and less information about work for female candidates relative to male candidates. An in-depth analysis of the disclosed information suggests that gender stereotypes play an important role in this disclosure discrimination. Furthermore, assistants disclose less information about foreigners overall. This effect appears to be driven by the less attention assistants are willing to devote to the CVs of foreigners, measured by the extra effort to learn more about the candidates. Keywords: information; disclosure; hiring Fulltext is available at external website.
Disclosure discrimination: an experiment focusing on communication in the hiring process

We focus on communication among hiring team members and document the existence of discrimination in the disclosure of information about candidates. In particular, we conduct an online experiment with ...

Badalyan, S.; Korlyakova, Darya; Rehák, Rastislav
Národohospodářský ústav, 2023

Human capital affects religious identity: causal evidence from Kenya
Alfonsi, L.; Bauer, Michal; Chytilová, Julie; Miguel, E.
2023 - English
We study how human capital and economic conditions causally affect the choice of religious denomination. We utilize a longitudinal dataset monitoring the religious history of more than 5,000 Kenyans over twenty years, in tandem with a randomized experiment (deworming) that has exogenously boosted education and living standards. The main finding is that the program reduces the likelihood of membership in a Pentecostal denomination up to 20 years later when respondents are in their mid-thirties, while there is a comparable increase in membership in traditional Christian denominations. The effect is concentrated and statistically significant among a sub-group of participants who benefited most from the program in terms of increased education and income. The effects are unlikely due to increased secularization, because the program does not reduce measures of religiosity. The results help explain why the global growth of the Pentecostal movement, sometimes described a “New Reformation”, is centered in low-income communities. Keywords: human capital; economic conditions; religious denomination Fulltext is available at external website.
Human capital affects religious identity: causal evidence from Kenya

We study how human capital and economic conditions causally affect the choice of religious denomination. We utilize a longitudinal dataset monitoring the religious history of more than 5,000 Kenyans ...

Alfonsi, L.; Bauer, Michal; Chytilová, Julie; Miguel, E.
Národohospodářský ústav, 2023

Social ties at work and effort choice: experimental evidence from Tanzania
Chegere, M.; Falco, P.; Menzel, Andreas
2023 - English
Many firms hire workers via social networks. Whether workers who are socially connected to their employers exert more effort on the job is an unsettled debate. We address this question through a novel experiment with small-business owners in Tanzania. Participants are paired with a worker who conducts a real-effort task, and receive a payoff that depends on the worker’s effort. Some business owners are randomly paired with workers they are socially connected with, while others are paired with strangers. With a design that is sufficiently powered to detect economically meaningful effects, we find that being socially connected to one’s employer does not affect workers’ effort.\n Keywords: firms; hiring; productivity Fulltext is available at external website.
Social ties at work and effort choice: experimental evidence from Tanzania

Many firms hire workers via social networks. Whether workers who are socially connected to their employers exert more effort on the job is an unsettled debate. We address this question through a novel ...

Chegere, M.; Falco, P.; Menzel, Andreas
Národohospodářský ústav, 2023

Extrapolative income expectations and retirement savings
Cota, Marta
2023 - English
Why do employees’ retirement contributions gradually increase throughout their careers? This paper uses a structural life-cycle model based on household expectations data to explain workers’ retirement contribution decisions. The Michigan Survey of Consumers data shows that young households extrapolate from their recent income realizations and overstate the persistence and volatility of their future income. The structural life-cycle model with extrapolative expectations quantifies the difference in retirement contribution rates compared to rational expectations. Contrary to rational workers, extrapolative workers’ contributions match the data on retirement contributions over the life cycle. Consequently, mandating automatic enrollment yields negligible effects on retirement savings. Keywords: extrapolative expectations; forecast errors; illiquid savings Fulltext is available at external website.
Extrapolative income expectations and retirement savings

Why do employees’ retirement contributions gradually increase throughout their careers? This paper uses a structural life-cycle model based on household expectations data to explain workers’ ...

Cota, Marta
Národohospodářský ústav, 2023

Do pessimistic expectations about discrimination make minorities withdraw their effort? Causal evidence
Korlyakova, Darya
2022 - English
There is a long-standing concern that expected discrimination discourages minorities from exercising effort to succeed. Effort withdrawal could contribute to confirming negative stereotypes about minorities’ productivity and enduring disparities. This paper extends the findings of correlational research by exogenously manipulating individuals’ beliefs about discrimination against their group and exploring a causal link between perceived discrimination and individuals’ labor market behavior. For this purpose, we conduct an online experiment in the US with a diverse sample of 2,000 African Americans. We randomly assign individuals to two groups and inform one group about the frequency of discrimination against African Americans in a previous survey. To study the information effects on effort, we subsequently measure participants’ results on a math task. We document that most individuals initially overestimate discrimination against African Americans. The overestimation decreases strongly and significantly as a result of information provision. At the same time, treated individuals, males in particular, attempt and solve correctly fewer math problems compared to untreated individuals. Hence, our findings do not support the common concern that minorities’ inflated expectations about discrimination induce them to underperform. Keywords: perceived discrimination; racial minorities; effort Fulltext is available at external website.
Do pessimistic expectations about discrimination make minorities withdraw their effort? Causal evidence

There is a long-standing concern that expected discrimination discourages minorities from exercising effort to succeed. Effort withdrawal could contribute to confirming negative stereotypes about ...

Korlyakova, Darya
Národohospodářský ústav, 2022

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