European Economic Review最新文献

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The kindness of strangers: Theory and evidence on spatial distance and giving 陌生人的善意：空间距离与给予的理论与证据

IF 2.4 2区经济学 Q1 ECONOMICS

European Economic Review

Pub Date : 2026-04-01 Epub Date: 2026-01-24 DOI: 10.1016/j.euroecorev.2026.105269

James Konow , Leonie Kühl , Nora Szech

Arguments for directing charitable giving to distant beneficiaries for their greater benefits contradict actual charitable donations that go mostly to more proximate beneficiaries. Controlled studies reveal mixed results finding the giving-distance relationship to be direct, inverse, flat, or various combinations of the three. This paper reports a new theory of the distinctive relationship between giving and spatial distance and relevant results from four experimental studies. Two studies vary distances between donors and beneficiaries locally: a field experiment involves local refugees and a laboratory experiment local people in need. Both find significant inverse relationships between giving and spatial distance. Two other studies involve variations at farther distances. One is a laboratory experiment that finds no significant effect of distance, but further analysis suggests that a confounding factor, viz., beneficiary need, contributes to that fact. The other is survey experiment that indicates numerous additional confounding factors in comparisons involving far distances. The experimental results are largely consistent with the predictions of the theory: giving is decreasing in spatial distance, ceteris paribus, and is decreasing in exposure to displaced persons, decreasing in support for beneficiaries from sources external to the experiment (e.g., government aid), increasing in donor intrinsic generosity, and increasing in beneficiary need. We also find qualified support for the hypothesized mediator between spatial distance and giving, moral salience. Together, these results confirm our focus on local distances, indicate the presence of confounding factors over far distances, and offer an explanation to reconcile the conflicting results in the prior literature.

为了获得更大的利益而将慈善捐赠给远方受益人的说法，与实际的慈善捐赠主要流向更近的受益人的说法相矛盾。对照研究揭示了混合的结果，发现给予距离的关系是直接的，反向的，平坦的，或三者的各种组合。本文报道了给予与空间距离的独特关系的新理论和四个实验研究的相关结果。两项研究改变了当地捐助者和受益者之间的距离：一项实地实验涉及当地难民，一项实验室实验涉及有需要的当地人民。两者都发现给予与空间距离之间存在显著的反比关系。另外两项研究涉及更远距离的变化。一个是实验室实验，没有发现距离的显著影响，但进一步分析表明，一个混淆因素，即受益人需要，促成了这一事实。另一种是调查实验，它表明在涉及远距离的比较中有许多额外的混淆因素。实验结果与理论的预测基本一致：在其他条件相同的情况下，捐赠的空间距离在减少，与流离失所者的接触在减少，实验外部来源（如政府援助）对受益人的支持在减少，捐助者的内在慷慨程度在增加，受益人的需求在增加。我们还发现了空间距离与给予、道德突出性之间的中介假设的合格支持。总之，这些结果证实了我们对局部距离的关注，表明了远距离混淆因素的存在，并提供了一种解释，以调和先前文献中相互矛盾的结果。

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引用次数: 0

Acquisitions, inventors’ turnover, and innovation: Evidence from the pharmaceutical industry 收购、发明者更替和创新：来自制药业的证据

IF 2.4 2区经济学 Q1 ECONOMICS

European Economic Review

Pub Date : 2026-04-01 Epub Date: 2026-01-18 DOI: 10.1016/j.euroecorev.2026.105263

Carmine Ornaghi , Lorenzo Cassi

This paper examines the relationship between the post-merger decline in patenting among pharmaceutical firms, as observed in previous firm-level studies, and the following individual-level dynamics: (i) the exit of inventors from the innovation market, (ii) the departure of inventors from target firms to other research labs, and (iii) a decline in the innovative output of inventors who remain within the acquired firms. Using a large sample of target companies, we estimate that acquisitions are associated with an increase in exit rates of inventors between 7.6 and 17.5 percentage points and of their departure rates ranging from 12.2 to18.9 percentage points. We find similar results are obtained for large and small deals and that top inventors of targets are also more likely to exit or to leave when an acquisition takes place. Our results show that, for each inventor that exits the innovation market, around 2 patents are foregone, representing more than 30 percent loss of the expected output these scientists could have produced over their careers. Inventors who relocate to a different lab also generate 2 fewer patents compared to similar control scientists, representing a 30 percent decrease in their productivity too. Finally, inventors that stay at the acquired targets also experience a decrease in output of nearly one fewer patent. These results point to a significant decline in both human capital and consumer welfare, which call for a closer scrutiny of M&As.

本文考察了制药企业并购后专利申请数量下降与以下个人层面动态之间的关系：(i)发明家退出创新市场，（ii）发明家从目标公司转移到其他研究实验室，以及（iii）留在被收购公司的发明家创新产出下降。通过大量的目标公司样本，我们估计收购与发明人的退出率增加7.6到17.5个百分点以及他们的离职率增加12.2到18.9个百分点有关。我们发现，无论是大型交易还是小型交易，结果都是相似的，而且在收购发生时，目标的顶级发明者也更有可能退出或离开。我们的研究结果表明，每有一个发明家退出创新市场，就有大约两项专利被放弃，这意味着这些科学家在其职业生涯中本可以产生的预期产出损失超过30%。与同类科学家相比，搬到不同实验室的发明家获得的专利也减少了2项，这也意味着他们的生产力下降了30%。最后，留在被收购目标的发明人的专利产出也会减少近一项。这些结果表明，人力资本和消费者福利都出现了显著下降，这要求我们对M&；As进行更严格的审查。

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引用次数: 0

Trusting machines with morality — Delegating moral decisions to AI 信任有道德的机器——将道德决策委托给人工智能

IF 2.4 2区经济学 Q1 ECONOMICS

European Economic Review

Pub Date : 2026-04-01 Epub Date: 2026-01-08 DOI: 10.1016/j.euroecorev.2025.105255

Nicola Hüholt, Nora Szech

Research suggests that individuals are generally skeptical about the use of artificial intelligence (AI) in moral contexts, favoring human decision-makers over AI. Yet, in two experiments involving a total of 5639 participants, we find that individuals facing a real-life moral decision delegate significantly more often when they can delegate to AI rather than to a human counterpart. This result highlights AI’s relative appeal as a moral delegate, indicating that individuals’ preferences for AI’s involvement change when they themselves assume the role of a decision-maker. Responsibility shifting, previously studied as a motive for delegation to humans, extends to AI delegates. Moreover, it appears to be facilitated by individuals adapting their beliefs about AI’s capability in a self-serving manner. Ambiguity surrounding that capability allows them to interpret it in ways that justify delegation. These findings add nuance to assumptions about algorithm aversion in moral domains and raise critical questions about accountability and the ethical implications of relying on AI for morally sensitive decisions.

研究表明，人们普遍对在道德背景下使用人工智能（AI）持怀疑态度，倾向于人类决策者而不是人工智能。然而，在两个涉及5639名参与者的实验中，我们发现，当个人面临现实生活中的道德决策时，他们更倾向于委托给人工智能而不是人类。这一结果突出了人工智能作为道德代表的相对吸引力，表明当个人承担了决策者的角色时，他们对人工智能参与的偏好会发生变化。责任转移，之前被研究为委派给人类的动机，扩展到人工智能的委派。此外，它似乎是由个人以一种自私的方式调整他们对人工智能能力的信念而促成的。围绕这种能力的模糊性使他们能够以合理的委托方式来解释它。这些发现增加了关于道德领域中算法厌恶的假设的细微差别，并提出了关于依赖人工智能进行道德敏感决策的问责制和伦理影响的关键问题。

引用次数: 0

Corruption, trade liberalization and firm productivity: Evidence from Vietnam 腐败、贸易自由化与企业生产率：来自越南的证据

IF 2.4 2区经济学 Q1 ECONOMICS

European Economic Review

Pub Date : 2026-04-01 Epub Date: 2026-01-20 DOI: 10.1016/j.euroecorev.2026.105264

Chiara Tomasi , Quoc Thai Le

This paper investigates how corruption influences the gains from trade liberalization. Using firm-level data from Vietnam from 2000 to 2012, which includes the country’s accession to the World Trade Organization (WTO), the analysis provides robust causal evidence, based on fixed effects and instrumental variable estimation techniques, that corruption mitigates the positive impact of tariff reduction on firm productivity. One key mechanism through which corruption may limit productivity is by reducing importing. The paper shows that the likelihood of importing following input tariff cuts is lower for firms in provinces with higher corruption. We examine the broader implications of our firm-level findings and show that, in a counterfactual scenario without corruption, Vietnam’s productivity gains from trade liberalization would have been higher.

本文探讨了腐败对贸易自由化收益的影响。利用越南2000年至2012年（包括该国加入世界贸易组织（WTO）期间）的企业层面数据，基于固定效应和工具变量估计技术，该分析提供了强有力的因果证据，表明腐败减轻了关税削减对企业生产率的积极影响。腐败可能限制生产力的一个关键机制是减少进口。研究表明，在腐败程度较高的省份，企业在降低进口关税后进行进口的可能性较低。我们研究了公司层面调查结果的更广泛含义，并表明，在没有腐败的反事实情景中，越南从贸易自由化中获得的生产力收益将更高。

引用次数: 0

Market power and global public goods 市场力量和全球公共产品

IF 2.4 2区经济学 Q1 ECONOMICS

European Economic Review

Pub Date : 2026-04-01 Epub Date: 2026-01-03 DOI: 10.1016/j.euroecorev.2026.105257

Sebastian G. Kessing

A global monopoly supplier country of green goods which are essential for the provision of global environmental public goods optimally subsidizes the export of such goods in an interior contribution equilibrium. This is not counterbalanced by an incentive to improve the terms-of-trade, since any price-induced transfers are off-set by contribution adjustments. By the same logic, a subsidy is costless for the monopoly supplier. The existence of a global monopoly supplier increases global public good supply relative to a competitive setting. The incentive to subsidize persists with impure public goods. Import-dependent countries may also benefit from a monopoly supplier. While they are strategically exploited to increase their contributions to the global public good, they do so at lower costs, and they benefit from increased contributions by the other importer countries.

对于提供全球环境公共产品至关重要的绿色产品的全球垄断供应国，在内部贡献均衡中对此类产品的出口提供最优补贴。这无法通过改善贸易条件的激励来抵消，因为任何价格引起的转移都可以通过贡献调整来抵消。按照同样的逻辑，补贴对垄断供应商来说是没有成本的。相对于竞争环境，全球垄断供应商的存在增加了全球公共产品的供应。补贴的动机持续存在于不纯的公共产品中。依赖进口的国家也可能从垄断供应商中获益。虽然它们被战略性地利用来增加它们对全球公益的贡献，但它们这样做的成本较低，而且它们从其他进口国增加的贡献中受益。

引用次数: 0

Greenflation? Greenflation吗?

IF 2.4 2区经济学 Q1 ECONOMICS

European Economic Review

Pub Date : 2026-04-01 Epub Date: 2025-12-26 DOI: 10.1016/j.euroecorev.2025.105237

Conny Olovsson , David Vestin

Using a New-Keynesian model with an energy sector, we show that a green transition requires the real price of energy to increase and the real wage to fall. We prove analytically that if energy is not used in production and nominal wages and goods prices are rigid, a flexible energy price and a monetary policy rule that sees through energy-price changes are sufficient for replicating the flex-price allocation. If energy is used, there will be deviations from efficiency. Since energy’s share of income is small, these deviations are marginal unless the carbon tax is raised aggressively and/or monetary policy is ill-suited.

我们利用能源部门的新凯恩斯模型表明，绿色转型需要能源的实际价格上涨和实际工资下降。我们分析地证明，如果能源不用于生产，并且名义工资和商品价格是刚性的，那么灵活的能源价格和通过能源价格变化看到的货币政策规则足以复制弹性价格分配。如果使用能源，效率就会有偏差。由于能源在收入中所占的份额很小，除非大幅提高碳税和/或货币政策不合适，否则这些偏差是微不足道的。

引用次数: 0

How do beliefs and preferences over jobs affect enrollment in vocational training: Experimental evidence from India 对工作的信仰和偏好如何影响职业培训的入学率：来自印度的实验证据

IF 2.4 2区经济学 Q1 ECONOMICS

European Economic Review

Pub Date : 2026-04-01 Epub Date: 2025-12-29 DOI: 10.1016/j.euroecorev.2025.105238

Apurav Yash Bhatiya , Bhaskar Chakravorty , Clément Imbert , Roland Rathelot

We survey young job seekers in rural India to understand the determinants of enrollment in a government training program with guaranteed placement into urban jobs. Respondents are over-optimistic: they expect jobs that pay more and are closer to home than actual placement opportunities. We implement an RCT and provide them with objective information on the distribution of placement salaries or job locations. The intervention successfully corrects subjects’ beliefs, which affects their decision to enroll in the program. By revealed preferences, our estimates suggest that job seekers need to be paid 50% more to work outside their home state.

我们调查了印度农村的年轻求职者，以了解参加政府培训计划并保证进入城市工作的决定因素。受访者过于乐观：与实际的就业机会相比，他们希望找到薪酬更高、离家更近的工作。我们实施随机对照试验，为他们提供关于安置工资或工作地点分布的客观信息。干预成功地纠正了受试者的信念，从而影响了他们参加该计划的决定。根据显示的偏好，我们的估计表明，在家乡以外工作的求职者需要多获得50%的报酬。

引用次数: 0

Housing prices propagation: A theory of spatial interactions 房价传播：空间相互作用理论

IF 2.4 2区经济学 Q1 ECONOMICS

European Economic Review

Pub Date : 2026-04-01 Epub Date: 2025-12-26 DOI: 10.1016/j.euroecorev.2025.105252

Christophe Bruneel-Zupanc , Guillaume Chapelle , Jean-Benoît Eyméoud , Etienne Wasmer

A puzzle is that price-to-rent ratios in the housing market of a given urban area vary a lot in time and space. In some contexts, accounting for differences in local discount rates or rent growth differences is not sufficient. We propose a variant of asset pricing equations for housing markets that include a price gradient in space. It is analogous to the transport equation in physics and generates a new range of solutions consistent with the facts. The main rationale for the price gradient in the asset pricing equation is the existence of spatial search frictions for housing, but other informational frictions are discussed. The main mechanism is supported by the data analysis of a large urban area, Paris region.

一个令人困惑的问题是，在给定的城市地区，住房市场的租售比在时间和空间上变化很大。在某些情况下，考虑当地贴现率的差异或租金增长的差异是不够的。我们提出了住房市场资产定价方程的一个变体，其中包括空间上的价格梯度。它类似于物理学中的输运方程，并产生了一系列与事实一致的新解。资产定价方程中价格梯度的主要理论基础是住房的空间搜索摩擦的存在，但也讨论了其他信息摩擦。主要机制是由一个大型城市地区，巴黎地区的数据分析支持。

引用次数: 0

Reservoir-induced displacement and social participation: Evidence from the Spanish dictatorship 水库引起的流离失所和社会参与：来自西班牙独裁统治的证据

IF 2.4 2区经济学 Q1 ECONOMICS

European Economic Review

Pub Date : 2026-04-01 Epub Date: 2025-12-29 DOI: 10.1016/j.euroecorev.2025.105235

Laura Muñoz-Blanco

What are the long-term impacts of large inflows of forcibly displaced persons on displaced-hosting social participation outcomes? This paper addresses this question by exploring the construction of reservoirs during the Spanish dictatorship (1936–1975), which forced thousands of people into displacement. I implement an instrumental variable approach using the margin of whether the reservoir closest to a municipality was planned before the dictatorship, as well as its size and distance. To this end, I rely on a newly assembled historical panel dataset on forced displacement and social participation. I show that host municipalities experience a long-term and sizable decrease in voter turnout and new associations between 1977 and 2019. In turn, a higher share of the internally displaced population relative to natives mitigate these effects. I propose two mechanisms associated with the drop in institutional and general trust in host municipalities. The findings highlight the need to strengthen social cohesion between natives and forcibly displaced groups.

大量被迫流离失所者流入对收容流离失所者的社会参与结果有何长期影响？本文通过探索西班牙独裁统治时期（1936-1975）的水库建设来解决这个问题，这迫使成千上万的人流离失所。我实施了一种工具变量方法，使用最接近市政当局的水库是否在独裁统治之前被规划，以及它的大小和距离。为此，我依赖于一个新组装的关于被迫流离失所和社会参与的历史面板数据集。我指出，1977年至2019年期间，主办城市的选民投票率和新协会数量长期大幅下降。反过来，国内流离失所人口相对于土著人口的较高比例减轻了这些影响。我提出了两种机制，与东道国城市的机构和总体信任度下降有关。研究结果强调了加强土著居民和被迫流离失所群体之间社会凝聚力的必要性。

引用次数: 0

The long-run effects of Fiscal Rebalancing in a heterogeneous-agent model 异质性代理模型下财政再平衡的长期效应

IF 2.4 2区经济学 Q1 ECONOMICS

European Economic Review

Pub Date : 2026-04-01 Epub Date: 2025-12-30 DOI: 10.1016/j.euroecorev.2025.105243

Christophe Cahn , Patrick Fève , Julien Matheron

This paper examines the long-run macroeconomic effects of a Fiscal Rebalancing reform that shifts taxation from payroll to consumption under a balanced-budget constraint. Using a heterogeneous-agent model calibrated to French data, we compare pre- and post-reform steady states. The reform increases both aggregate labor and capital, with a stronger impact on capital in the heterogeneous-agent model than in its representative-agent counterpart. It also heightens wealth inequality, as a disproportionate share of the increase in aggregate wealth accrues to wealthier households. A welfare analysis that accounts for transition dynamics reveals positive average welfare effects overall, although high-wealth and, separately, low-productivity households experience welfare losses. The results are robust across alternative calibrations and model specifications.

本文考察了财政再平衡改革的长期宏观经济效应，该改革将税收从工资转移到平衡预算约束下的消费。使用一种根据法国数据校准的异构代理模型，我们比较了改革前和改革后的稳定状态。改革增加了总劳动力和总资本，异质性代理模型对资本的影响强于代表性代理模型。它还加剧了财富不平等，因为财富总量增长中不成比例的一部分流向了较富裕的家庭。一项考虑转型动态的福利分析显示，尽管高财富家庭和低生产率家庭分别经历了福利损失，但总体而言，平均福利效应是积极的。结果是鲁棒跨替代校准和模型规格。

引用次数: 0

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