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作者：Jacobsen, Mark R.
作者单位：University of California System; University of California San Diego
摘要：This paper employs an empirically estimated model to study the equilibrium effects of an increase in the US corporate average fuel economy (CAFE) standards. I identify and model heterogeneity across firms and find that the profit impacts of CAFE fall almost entirely on domestic producers. The welfare analyses consider the simultaneous household decision of vehicle and miles traveled, allowing direct comparison with a gasoline tax. Finally, I consider dynamic impacts in the used car market. I f...
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作者：Towe, Charles; Lawley, Chad
作者单位：University System of Maryland; University of Maryland College Park; University System of Maryland; University of Maryland College Park; University of Manitoba
摘要：We examine the contagion effect of residential foreclosures and find strong evidence of a social interactions influence on default decisions where the interaction is based on neighbors' behavior in a previous period. Using a unique spatially explicit parcel-level dataset documenting residential foreclosures in Maryland for the years 2006-2009 and a highly localized neighborhood definition, based on 13 nearest neighbors, we find that a neighbor in foreclosure increases the hazard of additional ...
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作者：Sinai, Todd; Souleles, Nicholas
作者单位：University of Pennsylvania
摘要：For households that face a possibility of moving across MSAs, the risk of home owning depends on the covariance of the sale prices of their current houses with the purchase prices of their likely future houses. We find empirically that households tend to move between highly correlated MSAs, significantly increasing the distribution of expected correlations in real house price growth across MSAs, and so raising the moving-hedge value of owning. Own/rent decisions are sensitive to this hedging v...
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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...
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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...
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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...
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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...
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作者：Chatterjee, Arpita; Dix-Carneiro, Rafael; Vichyanond, Jade
作者单位：University of New South Wales Sydney; University System of Maryland; University of Maryland College Park; International Monetary Fund
摘要：This paper studies the effect of exchange rate shocks on export behavior of multi-product firms. We provide a theoretical framework illustrating how firms adjust their prices, quantities, product scope, and sales distribution across products in the event of exchange rate fluctuations. In response to a real exchange rate depreciation, firms increase markups for all products, but markup increases decline with firm-product-specific marginal costs of production. We find robust evidence for our the...
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作者：Aragon, Fernando M.; Rud, Juan Pablo
作者单位：Simon Fraser University; University of London; Royal Holloway University London
摘要：This paper examines the local economic impact of Yanacocha, a large gold mine in Northern Peru. Using annual household data from 1997 to 2006, we find evidence of a positive effect of the mine's demand for local inputs on real income. The effects are only present in the supply market and surrounding areas, and reach unskilled workers in non-mining sectors. Consistent with a general equilibrium framework, we also find an increase in the local price of nontradable goods. Taken together, our resu...
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作者：Brunner, Eric; Ross, Stephen L.; Washington, Ebonya
作者单位：University System of Georgia; Georgia State University; University of Connecticut; Yale University
摘要：We assemble a novel dataset of matched legislative and constituent votes and demonstrate that less income does not mean less representation. We show: (i) The opinions of high- and low-income voters are highly correlated; the legislator's vote often reflects the desire of both. (ii) What differences in representation by income exist vary by legislator party. Republicans more often vote the will of their higher income over their lower income constituents; Democratic legislators do the reverse. (...
