Facts and figures on gender in entrepreneurship and innovation
Křížková, Alena; Marková Volejníčková, Romana; Pospíšilová, Marie; Vohlídalová, Marta
2023 - anglický Klíčová slova: gender equality; gender in entrepreneurship; gender in science; gender in innovation; gender stereotypes; good practices Plné texty jsou dostupné v digitálním repozitáři Akademie Věd. Facts and figures on gender in entrepreneurship and innovation

Křížková, Alena; Marková Volejníčková, Romana; Pospíšilová, Marie; Vohlídalová, Marta
Sociologický ústav, 2023

Disclosure discrimination: an experiment focusing on communication in the hiring process
Badalyan, S.; Korlyakova, Darya; Rehák, Rastislav
2023 - anglický 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. Klíčová slova: information; disclosure; hiring Dokument je dostupný na externích webových stránkách. 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

Racial discrimination and lost innovation: evidence from US inventors, 1895–1925
Coluccia, D. M.; Dossi, G.; Ottinger, Sebastian
2023 - anglický 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. We 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, who 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. Klíčová slova: discrimination; innovation; lynchings Dokument je dostupný na externích webových stránkách. 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 - anglický 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. Klíčová slova: credit register; bank clean-up; regulatory forbearance Dokument je dostupný na externích webových stránkách. 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 - anglický 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. Klíčová slova: sanctions news shock; monetary policy; commodity terms-of-trade Dokument je dostupný na externích webových stránkách. 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 - anglický 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. Klíčová slova: quantitative easing; capital-skill complementarity; asymmetric real wage rigidity Dokument je dostupný na externích webových stránkách. 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

Extrapolative income expectations and retirement savings
Cota, Marta
2023 - anglický 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. Klíčová slova: extrapolative expectations; forecast errors; illiquid savings Dokument je dostupný na externích webových stránkách. 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

Social ties at work and effort choice: experimental evidence from Tanzania
Chegere, M.; Falco, P.; Menzel, Andreas
2023 - anglický 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 Klíčová slova: firms; hiring; productivity Dokument je dostupný na externích webových stránkách. 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

Human capital affects religious identity: causal evidence from Kenya
Alfonsi, L.; Bauer, Michal; Chytilová, Julie; Miguel, E.
2023 - anglický 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. Klíčová slova: human capital; economic conditions; religious denomination Dokument je dostupný na externích webových stránkách. 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

Transformations in the Interpretation of Music Folklore: From the Protection of Everyday Culture to the Emergence of a Music Genre (Using the Czech Republic as a Case Study)
Uhlíková, Lucie; Pavlicová, M.
2023 - anglický From the 1960s onwards, efforts began to develop in Czech ethnology, which gradually began to include folklore manifestations in their second existence in professional research. The field of folklorism sometimes overlapped with the existence of folk traditions, sometimes built on them, and sometimes was only inspired by them to varying degrees. The distinction in such defined categories was not easy even in the past, and with the increasingly rapid development of society, it became blurred in the general consciousness. Within this scope, a contemporary broad music genre, music folklore, has emerged that is not easy to define in terms of content. In this paper, the authors outline its historical formation, show model moments of its development, and deal with its polyfunctionality: many collectives present themselves not only on stage (together with dancers) and in concert settings (independently), but also participate in local ethno-cultural traditions, dance parties, family celebrations (weddings, birthdays), and commercially focused events. To illustrate this, the paper uses archival source material, and field research based on interviews with selected musicians. Klíčová slova: Music folklore; transformations of folk tradition; music genre; folk revivalism in the Czech Republic Dokument je dostupný na externích webových stránkách. Transformations in the Interpretation of Music Folklore: From the Protection of Everyday Culture to the Emergence of a Music Genre (Using the Czech Republic as a Case Study)

From the 1960s onwards, efforts began to develop in Czech ethnology, which gradually began to include folklore manifestations in their second existence in professional research. The field of ...

Uhlíková, Lucie; Pavlicová, M.
Etnologický ústav, 2023