-
作者：Nannicini, Tommaso; Stella, Andrea; Tabellini, Guido; Troiano, Ugo
作者单位：Bocconi University; Federal Reserve System - USA; Federal Reserve System Board of Governors; Harvard University
摘要：We investigate a channel through which social capital may improve economic well-being and the functioning of institutions: political accountability. The main idea is that voters who share values and beliefs that foster cooperation are more likely to vote based on criteria of social welfare rather than narrow personal interest. We frame this intuition into a simple model of political agency and take it to the data using information on the criminal prosecutions and absenteeism rates of Italian m...
-
作者：Ashenfelter, Orley C.; Hosken, Daniel S.; Weinberg, Matthew C.
作者单位：Princeton University; National Bureau of Economic Research; Drexel University
摘要：Many experts speculate that US antitrust policy towards horizontal mergers has been too lenient. We estimate the price effects of Whirlpool's acquisition of Maytag to provide new evidence on this debate. We compare price changes in appliance markets most affected by the merger to markets where concentration changed much less or not at all. We estimate price increases for dishwashers and relatively large price increases for clothes dryers, but no price effects for refrigerators or clothes washe...
-
作者：Fetter, Daniel K.
作者单位：Wellesley College; National Bureau of Economic Research
摘要：The largest twentieth-century increase in US home ownership occurred between 1940 and 1960, associated largely with declining age at first ownership. I shed light on the contribution of coincident government mortgage market interventions by examining home loan benefits granted under the World War II and Korean War GI Bills. Veterans' benefits increased home ownership rates primarily by shifting purchase earlier in life, explaining 7.4 percent of the overall 1940-1960 increase, and 25 percent o...
-
作者：Moita, Rodrigo M. S.; Paiva, Claudio
作者单位：Insper; California State University System; California State University Channel Islands
摘要：The early work of Stigler (1971) treats the regulatory process as the arbitration of conflicting economic and political interests rather than a pure welfare-maximizing effort. This paper builds on these ideas and models the regulatory process as a game where the industry-lobby, consumers-voters, and a regulator-politician interact to define the regulated price, in alternating electoral and non-electoral periods. The equilibrium that emerges consists of a fully rational political price cycle in...
-
作者：Antwi, Yaa Akosa; Moriya, Asako S.; Simon, Kosali
作者单位：Purdue University System; Purdue University; Purdue University in Indianapolis; Indiana University System; Indiana University Bloomington; National Bureau of Economic Research
摘要：Using data from the Survey of Income and Program Participation (SIPP), we study the health insurance and labor market implications of the recent Affordable Care Act (ACA) provision that allows dependents to remain on parental policies until age 26. Our comparison of outcomes for young adults aged 19-25 with those who are older and younger, before and after the law, shows a high take-up of parental coverage, resulting in substantial reductions in uninsurance and other forms of coverage. We also...
-
作者：Bushnell, James B.; Chong, Howard; Mansur, Erin T.
作者单位：University of California System; University of California Davis; National Bureau of Economic Research; Cornell University; Dartmouth College
摘要：We investigate how cap-and-trade regulation affects profits. In late April 2006, the EU CO2 allowance price dropped 50 percent, equating to a (sic) 28 billion reduction in the value of aggregate annual allowances. We examine daily returns for 552 stocks from the EUROSTOXX index. Despite reductions in environmental costs, we find that stock prices fell for firms in both carbon- and electricity-intensive industries, particularly for firms selling primarily within the EU. Our results imply that i...
-
作者：Niepmann, Friederike; Schmidt-Eisenlohr, Tim
作者单位：University of Oxford
摘要：Financial institutions are increasingly linked internationally. As a result, financial crises and government intervention have stronger effects beyond borders. We provide a model of international contagion allowing for bank bailouts. While a social planner trades off tax distortions, liquidation losses, and intra- and intercountry income inequality, in the noncooperative game between governments there are inefficiencies due to externalities, a lack of burden sharing, and free riding. We show t...
-
作者：Bettinger, Eric P.; Evans, Brent J.; Pope, Devin G.
作者单位：Stanford University; University of Chicago
摘要：Improving college performance and retention can be difficult. We propose a simple and low-cost change in the way colleges use the ACT exam in their admission decisions that can greatly increase their ability to identify students at a high risk of underperforming and dropping out. Specifically, we show that only two of the four subtests of the ACT, English and Mathematics, can effectively predict outcomes in college. This result is robust across various samples, specifications and outcome measu...
-
作者：Cullen, Joseph
作者单位：Washington University (WUSTL)
摘要：Production subsidies for renewable energy, such as solar or wind power, are rationalized by their environmental benefits. Subsidizing these projects allows clean, renewable technologies to produce electricity that otherwise would have been produced by dirtier, fossil-fuel power plants. In this paper, I quantify the emissions offset by wind power for a large electricity grid in Texas using the randomness inherent in wind power availability. When accounting for dynamics in the production process...
-
作者：Rouse, Cecilia Elena; Hannaway, Jane; Goldhaber, Dan; Figlio, David
作者单位：Princeton University; National Bureau of Economic Research; American Institutes for Research; University of Washington; University of Washington Seattle; Northwestern University
摘要：While numerous studies have found that school accountability boosts test scores, it is uncertain whether estimated test score gains reflect genuine improvements or merely gaming behaviors. This paper brings to bear new evidence from a unique five-year, three-round survey conducted of a census of public elementary schools in Florida that is linked with detailed administrative data on student performance. We show that schools facing accountability pressure changed their instructional practices i...
