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Voting under debtor distress
Grossmann, Jakub; Jurajda, Štěpán
2023 - anglický
There is growing evidence on the role of economic conditions in the recent successes of populist and extremist parties. However, little is known about the role of over-indebtedness, even though debtor distress has grown in Europe following the financial crisis. We study the unique case of the Czech Republic, where by 2017, nearly one in ten citizens had been served at least one debtor distress warrant even though the country consistently features low unemployment. Our municipality-level difference-in-differences analysis asks about the voting consequences of a rise in debtor distress following a 2001 deregulation of consumer-debt collection. We find that debtor distress has a positive effect on support for (new) extreme right and populist parties, but a negative effect on a (traditional) extreme-left party. The effects of debtor distress we uncover are robust to whether and how we control for economic hardship, the effects of debtor distress and economic hardship are of similar magnitude, but operate in opposing directions across the political spectrum.
Klíčová slova:
debtor distress; distress warrants; populist parties
Dokument je dostupný na externích webových stránkách.
Voting under debtor distress
There is growing evidence on the role of economic conditions in the recent successes of populist and extremist parties. However, little is known about the role of over-indebtedness, even though debtor ...
Caves in Bohemia et Moravia Subterranea by Mauritius Vogt (1669–1730)
Rychnová, L.; Vokurka, Michal
2023 - anglický
The Manuscript Bohemia et Moravia Subterranea (1729) by Mauritius Vogt reflects the subterranean landscapes and underground spaces based on Athanasius Kircher’s theories. The paper analyses the application of Kirchers’s terminology to the natural phenomena from Bohemia and Moravia. Further, we focused on how Vogt worked with his sources – how far he relied on literature, correspondence, or personal experience.
Klíčová slova:
Mauritius Vogt; caves; subterranean; underground; early modern period
Plné texty jsou dostupné na jednotlivých ústavech Akademie věd ČR.
Caves in Bohemia et Moravia Subterranea by Mauritius Vogt (1669–1730)
The Manuscript Bohemia et Moravia Subterranea (1729) by Mauritius Vogt reflects the subterranean landscapes and underground spaces based on Athanasius Kircher’s theories. The paper analyses the ...
The long-term impact of energy poverty and its mitigation on educational attainment: evidence from China
Martirosyan, Yervand
2023 - anglický
Existing studies demonstrate the short-run connection between environmental conditions and academic performance. However, the long-term effects of exposure to adverse living conditions on academic achievement remain underexplored. This study investigates the long-term impact of energy poverty, and policy interventions aimed at alleviating it, on the academic performance of Chinese schoolchildren starting from infancy. It specifically utilizes the Huai River Policy, which provides free winter heating exclusively to northern regions in China but not to adjacent southern regions. My findings suggest a significant positive influence of winter heating on schoolchildren’s academic performance, with a more pronounced effect for children born during winter months. The insights gained from this research could inform policy debates to enhance educational outcomes and human well-being.\n
Klíčová slova:
energy poverty; academic performance; climate
Dokument je dostupný na externích webových stránkách.
The long-term impact of energy poverty and its mitigation on educational attainment: evidence from China
Existing studies demonstrate the short-run connection between environmental conditions and academic performance. However, the long-term effects of exposure to adverse living conditions on academic ...
Vowel length in infant-directed speech: the realisation of short-long contrasts in Czech IDS
Svoboda, Michaela; Chládková, Kateřina; Kocjančič Antolík, T.; Paillereau, Nikola; Slížková, P.
2023 - anglický
When interacting with young children, talkers across many languages use a speech style that reflects positive affect, draws infants' attention, and supposedly facilitates language acquisition. As for the latter, a well-documented feature of infant-directed speech is an exaggeration of spectrally-cued vowel contrasts. Here we tested whether talkers exaggerate also durationally cued contrasts. Sixty-three mothers, native speakers of Czech, were recorded while playing with their infant (4- to 10-month-olds, IDS) and while speaking to an adult (ADS). The durations of the five Czech phonemically short vowels were compared to their long counterparts. Vowel duration (normalised for word duration) was longer in IDS than in ADS more for phonemically long vowels at the younger infant ages, indicating a developmentally specific early exaggeration of length contrasts in Czech infant-directed speech. The present finding suggests that in a language with phonemic length, caregivers' realisation of speech sounds may go beyond merely being longer and slower overall.
Klíčová slova:
infant-directed speech; vowel length; development of early input; Czech
Plné texty jsou dostupné na vyžádání prostřednictvím repozitáře Akademie věd.
Vowel length in infant-directed speech: the realisation of short-long contrasts in Czech IDS
When interacting with young children, talkers across many languages use a speech style that reflects positive affect, draws infants' attention, and supposedly facilitates language acquisition. As for ...
The Prager musikalisches Album (1838) and the nineteenth-century salon as cultural practice
Bunzel, Anja
2023 - anglický
This article deals with a collection of songs and piano pieces, the Prager musikalisches Album, published in 1838, asking two central questions. Drawing on different concepts of the musical work (Werkbegriff), I explore whether the album can be considered a work rather than a loose collection of multiple works. Within the musicological discourse there have been many attempts at defining these terms, ranging from quite narrow categorisations based on aspects of instrumentation, musical form, or stylistic matters to more open approaches encompassing the communicative process and viewing the history of genre as cultural history. Drawing on the latter, I suggest that the Prager musikalisches Album is a prime example of collective authorship, which opens up a second question, namely that of authorship. Authorship may embrace aspects of agency that exceed the realms of the person who penned a musical, literary, or artistic work. Indeed, it may be shaped by performers, audiences, presses/ salespeople, dedicatees, critics, patrons, and anyone else who has an impact on any given work at the time of its creation and/or publicization. By taking this perspective, I suggest that the Prager musikalisches Album is both reflective and representative of nineteenth-century salon culture, within whose context the album was embedded. Offering a holistic analysis of the album and its context, I use this article as a springboard to advocate for a musical historiography that takes into account the full breadth of musical culture, and which embraces, besides composers and poets, a number of other cultural agents that are often overlooked within more traditional music-historical considerations.
Klíčová slova:
nineteenth-century salon; genre; work; Prague; authorship
Plné texty jsou dostupné na jednotlivých ústavech Akademie věd ČR.
The Prager musikalisches Album (1838) and the nineteenth-century salon as cultural practice
This article deals with a collection of songs and piano pieces, the Prager musikalisches Album, published in 1838, asking two central questions. Drawing on different concepts of the musical work ...
Are subsidies to business R&D effective? Regression discontinuity evidence from the TA CR ALFA programme
Bajgar, Matěj; Srholec, Martin
2023 - anglický
Governments subsidise business research and experimental development (R&D) to promote development of the economy, because externalities and information asymmetries inherent to the innovation process make private funding of these activities fall short of what is socially desirable. Nevertheless, how effective such subsidies are and whether they achieve their goals is an open question that needs to be studied empirically. This study leverages the state-of-the-art method of regression discontinuity (RD) that allows us to come very close to making causal inferences about the effects of subsidies, to find out whether the Technology Agency of the Czech Republic’s (TA CR) ALFA programme stimulated new business R&D inputs, outputs, and positive economic impacts that would not have happened otherwise.
Klíčová slova:
government subsidies; innovations; economic development
Dokument je dostupný na externích webových stránkách.
Are subsidies to business R&D effective? Regression discontinuity evidence from the TA CR ALFA programme
Governments subsidise business research and experimental development (R&D) to promote development of the economy, because externalities and information asymmetries inherent to the innovation process ...
“Crime and punishment”? How banks anticipate and propagate global financial sanctions
Mamonov, Mikhail; Pestova, Anna; Ongena, S.
2023 - anglický
We study the impacts of global financial sanctions on banks and their corporate borrowers in Russia. Financial sanctions were imposed consecutively between 2014 and 2019, allowing targeted (but not-yet-sanctioned) banks to adapt their international and domestic exposures in advance. Using a staggered difference-in-differences approach with in-advance adaptation to anticipated treatment, we establish that targeted banks immediately reduced their foreign assets and actually increased their international borrowings after the first sanction announcement compared to other similar banks. We reveal that the added value of the next sanction announcements was rather limited. Despite considerable outflow of domestic private deposits, the government support prevented disorderly bank failures and resulted in credit reshuffling: the banks contracted corporate lending by 4% of GDP and increased household lending by almost the same magnitude, which mostly offset the total economic loss. Further, we introduce a two-stage treatment diffusion approach that flexibly addresses potential spillovers of the sanctions to private banks with political connections. Employing unique hand-collected board membership and bank location data, our approach shows that throughout this period, politically-connected banks were not all equally recognized as potential sanction targets. Finally, using syndicated loan data, we establish that the real negative effects of sanctions materialized only when sanctioned firms were borrowing from sanctioned banks. When borrowing from unsanctioned banks, sanctioned firms even gained in terms of employment and investment but still lost in terms of market sales pointing to a misallocation of government support.
Klíčová slova:
staggered policy implementation; anticipation effects; treatment diffusion
Dokument je dostupný na externích webových stránkách.
“Crime and punishment”? How banks anticipate and propagate global financial sanctions
We study the impacts of global financial sanctions on banks and their corporate borrowers in Russia. Financial sanctions were imposed consecutively between 2014 and 2019, allowing targeted (but ...
The effects of government spending in segmented labor and financial markets
Stojanović, Dušan
2023 - anglický
This paper develops a model with high-skilled and low-skilled workers to show the expansionary effects of government spending despite large training costs for new hires. The main idea is that a fiscal stimulus induces changes in the composition of the labor force conditional on the extent of aggregate demand pressure. A period of high aggregate demand pressure is followed by a high value of forgone output as training activity causes production disruption. In this period firms decide to hire more low-skilled workers, who constitute a cheaper part of the labor force. When aggregate demand pressure is diminished, firms switch to hiring more high-skilled workers. However, the current literature considers only high-skilled workers, who tend to increase saving in government bonds to protect against poor employment prospects. In this case, the combination of weak employment prospects and the crowding-out effects of higher lump-sum taxes and government debt on private consumption and capital investment gives rise to recessionary effects. In contrast, this paper provides a model with a more realistic labor and financial market structure and suggests that countercyclical government spending in the form of government consumption and especially government investment can be used to deal with recessions.\n
Klíčová slova:
government spending; training cost; search and match frictions
Dokument je dostupný na externích webových stránkách.
The effects of government spending in segmented labor and financial markets
This paper develops a model with high-skilled and low-skilled workers to show the expansionary effects of government spending despite large training costs for new hires. The main idea is that a fiscal ...
Sexual-orientation discrimination and biological attributions: experimental evidence from Russia
Baghumyan, Gayane
2023 - anglický
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.
Klíčová slova:
discrimination; information; sexual minorities
Dokument je dostupný na externích webových stránkách.
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 ...
Hostility, population sorting, and backwardness: quasi-experimental evidence from the Red Army after WWII
Ochsner, Christian
2023 - anglický
Does a short episode of conflict or exposure to hostile troops cause regional economic backwardness, and if so, why and how does it persist? I answer these questions by exploiting economic differences across the idiosyncratic and short-lived line of contact between the Red Army and the Western Allies in South Austria at the end of WWII. Spatial regression discontinuity estimates show that hostile presence of the Red Army for 74 days caused an immediate relative population decline of around 12%, amplified to 25% by today. Age-specific migration patterns and subsequent fertility differences explain the multiplying effects. Sector development and measures of local labor productivity in 2011 also lag behind in regions briefly seized by the Red Army, likely driven by skill-specific migration and hampered investment patterns after WWII. The findings provide novel insights into the long-run effects of wars and conflicts, and point to the isolated role of the Red Army’s hostile actions after WWII to understand the European economic East-West divide.\n
Klíčová slova:
conflict; hostility; population shock
Dokument je dostupný na externích webových stránkách.
Hostility, population sorting, and backwardness: quasi-experimental evidence from the Red Army after WWII
Does a short episode of conflict or exposure to hostile troops cause regional economic backwardness, and if so, why and how does it persist? I answer these questions by exploiting economic differences ...
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