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作者：Greenstone, Michael; Mas, Alexandre; Hoai-Luu Nguyen
作者单位：University of Chicago; Princeton University; University of California System; University of California Berkeley
摘要：Using comprehensive data on bank lending and establishment-level outcomes from 1997-2010, this paper finds that small business lending is an unimportant determinant of small business and overall economic activity. A shift-share style research design is implemented to predict county-level lending shocks using variation in preexisting bank market shares and bank supply shifts. Counties with negative predicted lending shocks experienced declines in small business loan originations, indicating tha...
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作者：Kroft, Kory; Kucko, Kavan; Lehmann, Etienne; Schmieder, Johannes
作者单位：University of Toronto; Boston University; Universite Paris-Pantheon-Assas; Swiss School of Public Health (SSPH+)
摘要：We derive a sufficient statistics tax formula in a model that incorporates unemployment and endogenous wages to study the shape of the optimal income tax. Key sufficient statistics are the macro employment response to taxation, the micro and macro participation response to taxation, and the wage-moderating effect of tax progressivity. We empirically implement the tax formula by estimating the micro and macro elasticities using policy variation from the United States. Our results suggest that t...
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作者：Cohodes, Sarah R.
作者单位：Columbia University; Columbia University Teachers College; National Bureau of Economic Research
摘要：I evaluate long-run academic impacts of specialized programming for high-achieving students by analyzing Advanced Work Class (AWC), an accelerated curriculum delivered in dedicated classrooms for fourth through sixth graders in Boston Public Schools. Fuzzy regression discontinuity estimates show that AWC has positive yet imprecise impacts on test scores and improves longer-term outcomes, increasing high school graduation and college enrollment. These gains are driven by black and Latino studen...
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作者：Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; Chomsisengphet, Souphala; Evanoff, Douglas D.
作者单位：National University of Singapore; Federal Reserve System - USA; Federal Reserve Bank - Chicago; University System of Ohio; Ohio State University; National Bureau of Economic Research; United States Department of the Treasury; Office of the Comptroller of the Currency
摘要：This paper explores the effects of mandatory third-party review of mortgage contracts on consumer choice. The study is based on a legislative pilot carried out in Illinois in 2006, under which mortgage counseling was triggered by applicant credit scores or by their choice of risky mortgages. Low-credit score applicants for whom counselor review was mandatory did not materially alter their contract choice. Conversely, higher credit score applicants who could avoid counseling by choosing nonrisk...
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作者：Grosz, Michel
摘要：This paper estimates the labor market returns to the associate's degree in nursing (ADN), which is one of the most popular community college programs. I use student-level academic and earnings records across two decades for all community college students in California. 1 leverage random variation from admissions lotteries to produce causal estimates of the effect of the ADN on earnings and employment at a single large ADN program. Enrolling in the program increases earnings by 44 percent and t...
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作者：Liu, Li
作者单位：International Monetary Fund
摘要：In 2009, the United Kingdom changed from a worldwide to a territorial tax system, abolishing dividend taxes on foreign repatriation from many low-tax countries. This paper assesses the causal effect of territorial taxation on real investments, using a unique dataset for multinational affiliates in 27 European countries and employing the difference-in-differences approach. It finds that the territorial reform has increased the investment rate of UK multinationals by 16.7 percentage points in lo...
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作者：Bau, Natalie; Das, Jishnu
作者单位：Center for Economic & Policy Research (CEPR); University of California System; University of California Los Angeles; University of California System; University of California Los Angeles
摘要：Using data from Pakistan, we show that existing methods produce unbiased and reliable estimates of teacher value added (TVA) despite significant differences in context. Although effective teachers increase learning substantially, observed teacher characteristics account for less than 5 percent of the variation in TVA. The first two years of tenure and content knowledge correlate with TVA in our sample. Wages for public sector teachers do not correlate with TVA, although they do in the private ...
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作者：Gerarden, Todd D.; Reeder, W. Spencer; Stock, James H.
作者单位：Cornell University; Harvard University
摘要：Can supply-side environmental policies that limit the extraction of fossil fuels reduce CO2 emissions? This paper studies interactions between a specific supply-side policy-a carbon surcharge on federal coal royalties-and regulation of emissions from the power sector under the Clean Air Act. Estimates from a detailed dynamic model of the power sector suggest that, absent new downstream regulation, a royalty surcharge equal to the social cost of carbon would generate three-quarters of the emiss...
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作者：Papay, John P.; Taylor, Eric S.; Tyler, Johan H.; Laski, Mary E.
作者单位：Brown University; Harvard University
摘要：We study a program designed to encourage learning from coworkers among school teachers. In an experiment, we document gains in job performance when high- and low-skilled teachers are paired and asked to work together on improving their skills. Pairs are matched on specific skills measured in prior evaluations. Each pair includes a target teacher who scores low in one or more of 19 skills and a partner who scores high in (many of) the target's deficient skills. Student achievement improved 0.12...
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作者：Bound, John; Braga, Breno; Khanna, Gaurav; Turner, Sarah
作者单位：University of Michigan System; University of Michigan; National Bureau of Economic Research; Urban Institute; University of California System; University of California San Diego; University of Virginia
摘要：The number of international undergraduate students at US public research universities increased dramatically over the past two decades, alongside concurrent reductions in state support for universities. We show that these trends are closely connected as public research universities relied on foreign students to cushion the effects of falling appropriations. The growing capacity in emerging economies to pay for a US education provided opportunities for universities to recover revenues from full...
