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作者：Caprettini, Bruno; Voth, Hans-Joachim
作者单位：University of St Gallen; University of Zurich
摘要：We demonstrate an important complementarity between patriotism and public-good provision. After 1933, the New Deal led to an unprecedented expansion of the U.S. federal government's role. Those who benefited from social spending were markedly more patriotic during World War II: they bought more war bonds, volunteered more, and, as soldiers, won more medals. This pattern was new-World War I volunteering did not show the same geography of patriotism. We match military service records with the 19...
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作者：Ali, S. Nageeb; Haghpanah, Nima; Lin, Xiao; Siegel, Ron
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：The seller of an asset has the option to buy hard information about the value of the asset from an intermediary. The seller can then disclose this information before selling the asset in a competitive market. We study how the intermediary designs and sells hard information to robustly maximize the intermediary's revenue across all equilibria. Even though the intermediary could use an accurate test that reveals the asset's value, we show that robust revenue maximization leads to a noisy test wi...
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作者：Cullen, Zoe; Dobbie, Will; Hoffman, Mitchell
作者单位：Harvard University; National Bureau of Economic Research; Harvard University; University of Toronto; Centre for Economic Policy Research - UK
摘要：We experimentally test several approaches to increasing the demand for workers with a criminal record on a nationwide staffing platform by addressing potential downside risk and productivity concerns. The staffing platform asked hiring managers to make a series of hypothetical hiring decisions that affected whether workers with a criminal record could accept their jobs in the future. We find that 39% of businesses in our sample are willing to work with individuals with a criminal record at bas...
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作者：Alan, Sule; Corekcioglu, Gozde; Sutter, Matthias
作者单位：European University Institute; Ihsan Dogramaci Bilkent University; Kadir Has University; IZA Institute Labor Economics; Max Planck Society; University of Cologne; University of Innsbruck
摘要：We evaluate the impact of a training program aimed at improving the relational atmosphere in the workplace. The program encourages prosocial behavior and the use of professional language, focusing primarily on leaders' behavior and leader-subordinate interactions. We implement this program using a clustered randomized design involving over 3,000 headquarters employees of 20 large corporations in Turkey. We evaluate the program with respect to employee separation, pro- and antisocial behavior, ...
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作者：Aquilina, Matteo; Budish, Eric; O'Neill, Peter
作者单位：University of Chicago; National Bureau of Economic Research
摘要：We use stock exchange message data to quantify the negative aspect of high-frequency trading, known as latency arbitrage. The key difference between message data and widely familiar limit order book data is that message data contain attempts to trade or cancel that fail. This allows the researcher to observe both winners and losers in a race, whereas in limit order book data you cannot see the losers, so you cannot directly see the races. We find that latency arbitrage races are very frequent ...
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作者：vom Lehn, Christian; Winberry, Thomas
作者单位：Brigham Young University; IZA Institute Labor Economics; University of Pennsylvania; National Bureau of Economic Research
摘要：We argue that the network of investment production and purchases across sectors is an important propagation mechanism for understanding business cycles. Empirically, we show that the majority of investment goods are produced by a few investment hubs, which are more cyclical than other sectors. We embed this investment network into a multisector business cycle model and show that sector-specific shocks to the investment hubs and their key suppliers have large effects on aggregate employment and...
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作者：Gethin, Amory; Martinez-Toledano, Clara; Piketty, Thomas
作者单位：Paris School of Economics; Imperial College London
摘要：This article sheds new light on the long-run evolution of political cleavages in 21 Western democracies. We exploit a new database on the socioeconomic determinants of the vote, covering more than 300 elections held between 1948 and 2020. In the 1950s and 1960s, the vote for social democratic, socialist, and affiliated parties was associated with lower-educated and low-income voters. It has gradually become associated with higher-educated voters, giving rise in the 2010s to a disconnection bet...
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作者：Ilut, Cosmin; Valchev, Rosen
作者单位：Duke University; National Bureau of Economic Research; Boston College
摘要：We develop a novel bounded rationality model of imperfect reasoning as the interaction between automatic (System 1) and analytical (System 2) thinking. In doing so, we formalize the empirical consensus of cognitive psychology using a structural, constrained-optimal economic framework of mental information acquisition about the unknown optimal policy function. A key result is that agents reason less (more) when facing usual (unusual) states of the world, producing state- and history-dependent b...
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作者：Cook, Lisa D.; Jones, Maggie E. C.; Logan, Trevon D.; Rose, David
作者单位：Michigan State University; National Bureau of Economic Research; Emory University; University System of Ohio; Ohio State University; Wilfrid Laurier University
摘要：The economic analysis of racial discrimination in public accommodations is remarkably limited. To study this issue, we construct a national data set of nondiscriminatory establishments from the Negro Motorist Green Books, a travel guide published from 1936 to 1966 to aid Black Americans in finding nondiscriminatory retail and service establishments. We document patterns in the geographic spread and evolution of Green Book establishments, as well as the correlates of Green Book presence. We fin...
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作者：Smith, Matthew; Zidar, Owen; Zwick, Eric
作者单位：United States Department of the Treasury; Princeton University; National Bureau of Economic Research; University of Chicago
摘要：This article uses administrative tax data to estimate top wealth in the United States. We assemble new data that link people to their sources of capital income and develop new methods to estimate the degree of return heterogeneity within asset classes. Disaggregated fixed-income data reveal that rich individuals earn much more of their interest income in higher-yielding forms and have much greater exposure to credit risk. Consequently, in recent years, the interest rate on fixed income at the ...
