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作者：Federal Reserve System - USA; Federal Reserve System Board of Governors; Federal Reserve System - USA; Federal Reserve Bank - New York; Massachusetts Institute of Technology (MIT)
摘要：We study the impact of non-pharmaceutical interventions (NPIs) on mortality and economic activity across U.S. cities during the 1918 Flu Pandemic. The combination of fast and stringent NPIs reduced peak mortality by 50 percent and cumulative excess mortality by 24 to 34 percent. However, while the pandemic itself was associated with short-run economic disruptions, we find that these disruptions were similar across cities with strict and lenient NPIs. NPIs also did not worsen medium-run economi...
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作者：Pompeu Fabra University; University of London; London School Economics & Political Science; University of London; Queen Mary University London; Harvard University
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作者：Peking University; University of Hong Kong; Peking University
摘要：This paper investigates the impact of the abolition of the civil service exam on local governance in early twentieth-century China. Before the abolition, local elites collected surtaxes that financed local public goods, but they were supervised by the state and could lose candidacy for higher status if they engaged in corrupt behavior. This prospect of upward mobility (POUM) gave them incentives to behave well, which the abolition of the exam removed. Using anti-elite protests as a proxy for t...
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作者：University of London; University College London; University of Oxford; University of London; London School Economics & Political Science
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作者：University of Warwick; Zhejiang University
摘要：How did the 1918 influenza pandemic affect female labor force participation in India over the short run and the medium run? We use an event-study approach at the district level and four waves of decadal census data in order to answer this question. We find that districts most adversely affected by influenza mortality saw a temporary increase in female labor force participation in 1921, an increase that was concentrated in the service sector. We find suggestive evidence that distress labor supp...
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作者：University of California System; University of California Santa Barbara
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作者：Open University - UK; Open University - UK
摘要：This study looks at the valuation of U.K. investment trusts for the 50 years following their appearance as companies in the 1880s. Based on a large and unique dataset compiled from primary sources, our calculations reveal a huge variation between the ordinary share prices of investment trusts and their underlying net asset fundamental values. This mismatch is a well-known puzzle in modern financial markets and has attracted a large volume of research because it casts doubt on the concept of ma...
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作者：Princeton University
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作者：Max Planck Society
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作者：Baylor University
