Using a mix of household- and employer-based survey data from 46 countries, we provide novel evidence that workers in larger establishments perform more non-routine analytical tasks, even within narrowly defined occupations. Moreover, workers in larger establishments rely more on the use of information and communication technologies to perform these tasks. We also document a 15% raw wage premium that workers in larger establishments enjoy relative to their counterparts in smaller establishments. A mediation analysis shows that our novel empirical facts on the task content of jobs are able to explain 5–20% of the establishment size wage premium, a similar fraction to what can be explained by selection of workers on education, gender and age.
{"title":"Establishment size and the task content of jobs: evidence from 46 countries","authors":"Micole De Vera, Javier Garcia-Brazales","doi":"10.1111/ecca.12563","DOIUrl":"https://doi.org/10.1111/ecca.12563","url":null,"abstract":"<p>Using a mix of household- and employer-based survey data from 46 countries, we provide novel evidence that workers in larger establishments perform more non-routine analytical tasks, even within narrowly defined occupations. Moreover, workers in larger establishments rely more on the use of information and communication technologies to perform these tasks. We also document a 15% raw wage premium that workers in larger establishments enjoy relative to their counterparts in smaller establishments. A mediation analysis shows that our novel empirical facts on the task content of jobs are able to explain 5–20% of the establishment size wage premium, a similar fraction to what can be explained by selection of workers on education, gender and age.</p>","PeriodicalId":48040,"journal":{"name":"Economica","volume":"92 366","pages":"548-579"},"PeriodicalIF":1.6,"publicationDate":"2024-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecca.12563","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143554891","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We evaluate the efficacy of the Financial Action Task Force (FATF) Recommendations 2012, which set the global standard on combating money laundering and terrorist financing, by exploiting its staggered adoption in 16 East and South African countries. Using the trade gap as a proxy for trade-related fraud activities, such as trade-based money laundering, we find that the adoption of the FATF recommendations is correlated with a 15.3% reduction in trade-related fraud. The FATF is particularly effective within countries with capable state and low corruption. The amount by which FATF adoption can reduce trade-related fraud depends on a country's compliance level. Our results are robust to a series of robustness checks and contribute to a lively policy debate surrounding the role of international organizations in combating the financing of organized crimes.
{"title":"Combating trade-related fraud: do the Financial Action Task Force recommendations bite?","authors":"Sami Bensassi, Arisyi F. Raz","doi":"10.1111/ecca.12561","DOIUrl":"https://doi.org/10.1111/ecca.12561","url":null,"abstract":"<p>We evaluate the efficacy of the Financial Action Task Force (FATF) Recommendations 2012, which set the global standard on combating money laundering and terrorist financing, by exploiting its staggered adoption in 16 East and South African countries. Using the trade gap as a proxy for trade-related fraud activities, such as trade-based money laundering, we find that the adoption of the FATF recommendations is correlated with a 15.3% reduction in trade-related fraud. The FATF is particularly effective within countries with capable state and low corruption. The amount by which FATF adoption can reduce trade-related fraud depends on a country's compliance level. Our results are robust to a series of robustness checks and contribute to a lively policy debate surrounding the role of international organizations in combating the financing of organized crimes.</p>","PeriodicalId":48040,"journal":{"name":"Economica","volume":"92 365","pages":"322-347"},"PeriodicalIF":1.6,"publicationDate":"2024-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecca.12561","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142869255","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Bachmann, R., Baqaee, D., Bayer, C., Kuhn, M., Löschel, A., Moll, B., Peichl, A., Pittel, K. and Schularick, M. (2024). What if? The macroeconomic and distributional effects for Germany of a stop of energy imports from Russia. Economica, 91(364), 1157–1200. https://doi.org/10.1111/ecca.12546.
We thank Anne Helene Beck for pointing out the error below.
We apologize for this error.
巴赫曼,R., Baqaee, D.,拜耳,C.,库恩,M., Löschel, A., Moll, B., Peichl, A., Pittel, K.和Schularick, M.(2024)。如果什么?停止从俄罗斯进口能源对德国的宏观经济和分配影响。经济,91(364),1157-1200。https://doi.org/10.1111/ecca.12546.We感谢Anne Helene Beck指出下面的错误。我们为这个错误道歉。
{"title":"Correction to ‘What if? The macroeconomic and distributional effects for Germany of a stop of energy imports’","authors":"","doi":"10.1111/ecca.12562","DOIUrl":"https://doi.org/10.1111/ecca.12562","url":null,"abstract":"<p> <span>Bachmann, R.</span>, <span>Baqaee, D.</span>, <span>Bayer, C.</span>, <span>Kuhn, M.</span>, <span>Löschel, A.</span>, <span>Moll, B.</span>, <span>Peichl, A.</span>, <span>Pittel, K.</span> and <span>Schularick, M.</span> (<span>2024</span>). <span>What if? The macroeconomic and distributional effects for Germany of a stop of energy imports from Russia</span>. <i>Economica</i>, <span>91</span>(<span>364</span>), <span>1157</span>–<span>1200</span>. https://doi.org/10.1111/ecca.12546.</p><p>We thank Anne Helene Beck for pointing out the error below.</p><p>We apologize for this error.</p>","PeriodicalId":48040,"journal":{"name":"Economica","volume":"92 365","pages":"349"},"PeriodicalIF":1.6,"publicationDate":"2024-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecca.12562","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142869098","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We exploit a dataset of criminal trials in 19th century London to evaluate the impact of an accused's right to counsel on convictions. While lower-level crimes had an established history of professional representation prior to 1836, individuals accused of committing a felony did not, despite the prosecution being conducted by professional attorneys. The Prisoners' Counsel Act 1836 remedied this and first introduced the right to counsel in common law systems. Using a difference-in-differences estimation strategy, we identify the effect of the universal right to defence counsel. We find the surprising result that the professionalization of the courtroom led to an increase in the conviction rate. We argue that this effect was a consequence of the Act inducing a shift in the beliefs of jurors, who grew more likely to believe the evidence put before them once it could be challenged in an adversarial courtroom. We go further, and employ a topic modelling approach to the text of the transcripts to provide suggestive evidence on how the trials changed when the right to defence counsel was fully introduced, documenting a movement towards increased usage of precise and detailed language when discussing details of alleged offences.
{"title":"The right to counsel: criminal prosecution in 19th century London","authors":"Bryan C. McCannon, Zachary Porreca","doi":"10.1111/ecca.12560","DOIUrl":"https://doi.org/10.1111/ecca.12560","url":null,"abstract":"<p>We exploit a dataset of criminal trials in 19th century London to evaluate the impact of an accused's right to counsel on convictions. While lower-level crimes had an established history of professional representation prior to 1836, individuals accused of committing a felony did not, despite the prosecution being conducted by professional attorneys. The Prisoners' Counsel Act 1836 remedied this and first introduced the right to counsel in common law systems. Using a difference-in-differences estimation strategy, we identify the effect of the universal right to defence counsel. We find the surprising result that the professionalization of the courtroom led to an increase in the conviction rate. We argue that this effect was a consequence of the Act inducing a shift in the beliefs of jurors, who grew more likely to believe the evidence put before them once it could be challenged in an adversarial courtroom. We go further, and employ a topic modelling approach to the text of the transcripts to provide suggestive evidence on how the trials changed when the right to defence counsel was fully introduced, documenting a movement towards increased usage of precise and detailed language when discussing details of alleged offences.</p>","PeriodicalId":48040,"journal":{"name":"Economica","volume":"92 365","pages":"285-321"},"PeriodicalIF":1.6,"publicationDate":"2024-11-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142868960","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Fengze Han, Runliang Li, Sen Ma, Tzu-Chang Forrest Cheng
We investigate the deterrent effects of a firm-targeted sanction and a politician-targeted sanction deployed by mainland China against Taiwan to deter support for ‘Taiwan independence’. In the short run, we find that the signal sent by the targeted sanctions generated deterrence to firms that were not directly sanctioned, but were politically inclined towards ‘Taiwan independence’. Specifically, we find that those firms that donated more to the party that supports ‘Taiwan independence’, while investing in mainland China before the sanction, experienced a decrease in stock return. In terms of magnitude, for those firms entirely leaning towards ‘Taiwan independence’, their stock returns are expected to decrease by around 1.3–1.5 percentage points after the sanction events, which translates into a decrease in the overall market value of sampled firms by 0.305–0.604%. In the medium to long run, we find no evidence that firms affected by the deterrence of the sanction reduced their investment in mainland China as a behaviour response.
{"title":"Deterrent effects of targeted sanctions by mainland China on Taiwan: evidence from 2021–2 sanction events","authors":"Fengze Han, Runliang Li, Sen Ma, Tzu-Chang Forrest Cheng","doi":"10.1111/ecca.12559","DOIUrl":"https://doi.org/10.1111/ecca.12559","url":null,"abstract":"<p>We investigate the deterrent effects of a firm-targeted sanction and a politician-targeted sanction deployed by mainland China against Taiwan to deter support for ‘Taiwan independence’. In the short run, we find that the signal sent by the targeted sanctions generated deterrence to firms that were not directly sanctioned, but were politically inclined towards ‘Taiwan independence’. Specifically, we find that those firms that donated more to the party that supports ‘Taiwan independence’, while investing in mainland China before the sanction, experienced a decrease in stock return. In terms of magnitude, for those firms entirely leaning towards ‘Taiwan independence’, their stock returns are expected to decrease by around 1.3–1.5 percentage points after the sanction events, which translates into a decrease in the overall market value of sampled firms by 0.305–0.604%. In the medium to long run, we find no evidence that firms affected by the deterrence of the sanction reduced their investment in mainland China as a behaviour response.</p>","PeriodicalId":48040,"journal":{"name":"Economica","volume":"92 365","pages":"259-284"},"PeriodicalIF":1.6,"publicationDate":"2024-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142868035","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study analyses firms' adjustment behaviour when facing higher labour costs. The empirical research design considers several outcomes, and exploits, as a source of variation in labour costs, discontinuities in the growth of contractual wages set by Italian collective bargaining institutions. The results indicate that adjustment channels are highly heterogeneous across the firms' productivity distribution. Employment, revenue, productivity and the profit margin are negatively related to contractual wage growth among relatively less efficient companies. Instead, most efficient firms do not downsize, they substitute high- with low-wage workers while preserving their productivity, and they may even increase (or at least keep constant) their profitability. We conclude that more efficient companies, which adjust through cost-saving and labour-hoarding strategies, may benefit from cleansing effects, as their product market shares increase when costs of more constrained rivals are raised.
{"title":"Firms' margins of adjustment to wage growth: the case of Italian collective bargaining","authors":"Francesco Devicienti, Bernardo Fanfani","doi":"10.1111/ecca.12558","DOIUrl":"https://doi.org/10.1111/ecca.12558","url":null,"abstract":"<p>This study analyses firms' adjustment behaviour when facing higher labour costs. The empirical research design considers several outcomes, and exploits, as a source of variation in labour costs, discontinuities in the growth of contractual wages set by Italian collective bargaining institutions. The results indicate that adjustment channels are highly heterogeneous across the firms' productivity distribution. Employment, revenue, productivity and the profit margin are negatively related to contractual wage growth among relatively less efficient companies. Instead, most efficient firms do not downsize, they substitute high- with low-wage workers while preserving their productivity, and they may even increase (or at least keep constant) their profitability. We conclude that more efficient companies, which adjust through cost-saving and labour-hoarding strategies, may benefit from cleansing effects, as their product market shares increase when costs of more constrained rivals are raised.</p>","PeriodicalId":48040,"journal":{"name":"Economica","volume":"92 365","pages":"107-149"},"PeriodicalIF":1.6,"publicationDate":"2024-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecca.12558","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142868090","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}