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作者：Jager, Simon; Schoefer, Benjamin; Heining, Joerg
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of California System; University of California Berkeley
摘要：We estimate the wage effects of shared governance, or codetermination, in the form of a mandate of one-third of corporate board seats going to worker representatives. We study a reform in Germany that abruptly abolished this mandate for stock corporations incorporated after August 1994, while it locked the mandate for the slightly older cohorts. Our research design compares firm cohorts incorporated before the reform and after; in a robustness check we draw on the analogous difference in unaff...
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作者：Macchiavello, Rocco; Morjaria, Ameet
作者单位：University of London; London School Economics & Political Science; Northwestern University
摘要：How does competition affect market outcomes when formal contracts are not enforceable and parties resort to relational contracts? Difficulties with measuring relational contracts and dealing with the endogeneity of competition have frustrated attempts to answer this question. We make progress by studying relational contracts between upstream farmers and downstream mills in Rwanda's coffee industry. First, we identify salient dimensions of their relational contracts and measure them through an ...
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作者：Rose, Evan K.
作者单位：Microsoft
摘要：Most convicted offenders serve their sentences under community supervision at home instead of in prison. Under supervision, however, a technical rule violation, such as not paying fees, can result in incarceration. Rule violations account for 25% of prison admissions nationally and are significantly more common among black offenders. I test whether technical rules are effective tools for identifying likely reoffenders and deterring crime and examine their disparate racial impacts using adminis...
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作者：Bonomi, Giampaolo; Gennaioli, Nicola; Tabellini, Guido
作者单位：University of California System; University of California San Diego; Bocconi University; Bocconi University; Bocconi University
摘要：We present a theory of identity politics that builds on two ideas. First, when policy conflict renders a certain social divide-economic or cultural-salient, a voter identifies with her economic or cultural group. Second, the voter slants her beliefs toward the stereotype of the group she identifies with. We obtain three implications. First, voters' beliefs are polarized along the distinctive features of salient groups. Second, if the salience of cultural policies increases, cultural conflict r...
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作者：Cantoni, Enrico; Pons, Vincent
作者单位：University of Bologna; Harvard University; National Bureau of Economic Research
摘要：U.S. states increasingly require identification to vote-an ostensible attempt to deter fraud that prompts complaints of selective disenfranchisement. Using a difference-in-differences design on a panel data set with 1.6 billion observations, 2008-2018, we find that the laws have no negative effect on registration or turnout, overall or for any group defined by race, gender, age, or party affiliation. These results hold through a large number of specifications. Our most demanding specification ...
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作者：Abaluck, Jason; Bravo, Mauricio Caceres; Hull, Peter; Starc, Amanda
作者单位：Yale University; National Bureau of Economic Research; Brown University; Northwestern University
摘要：Competition in health insurance markets may fail to improve health outcomes if consumers are not able to identify high-quality plans. We develop and apply a novel instrumental variables framework to quantify the variation in causal mortality effects across plans and measure how much consumers attend to this variation. We first document large differences in the observed mortality rates of Medicare Advantage plans in local markets. We then show that when plans with high mortality rates exit thes...
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作者：Hanson, Samuel G.; Lucca, David O.; Wright, Jonathan H.
作者单位：Harvard University; Federal Reserve System - USA; Federal Reserve Bank - New York; Johns Hopkins University
摘要：Long-term nominal interest rates are surprisingly sensitive to high-frequency (daily or monthly) movements in short-term rates. Since 2000, this high-frequency sensitivity has grown even stronger in U.S. data. By contrast, the association between low-frequency changes (at 6- or 12-month horizons) in long- and short-term rates, which was also strong before 2000, has weakened substantially. This puzzling post-2000 pattern arises because increases in short rates temporarily raise the term premium...
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作者：Baron, Matthew; Verner, Emil; Xiong, Wei
作者单位：Cornell University; Massachusetts Institute of Technology (MIT); Princeton University; The Chinese University of Hong Kong, Shenzhen; National Bureau of Economic Research
摘要：We examine historical banking crises through the lens of bank equity declines, which cover a broad sample of episodes of banking distress with and without banking panics. To do this, we construct a new data set on bank equity returns and narrative information on banking panics for 46 countries over the period of 1870 to 2016. We find that even in the absence of panics, large bank equity declines are associated with substantial credit contractions and output gaps. Although panics are an importa...
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作者：Derenoncourt, Ellora; Montialoux, Claire
作者单位：University of California System; University of California Berkeley
摘要：The earnings difference between white and black workers fell dramatically in the United States in the late 1960s and early 1970s. This article shows that the expansion of the minimum wage played a critical role in this decline. The 1966 Fair Labor Standards Act extended federal minimum wage coverage to agriculture, restaurants, nursing homes, and other services that were previously uncovered and where nearly a third of black workers were employed. We digitize over 1,000 hourly wage distributio...
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作者：Altmejd, Adam; Barrios-Fernandez, Andres; Drlje, Marin; Goodman, Joshua; Hurwitz, Michael; Kovac, Dejan; Mulhern, Christine; Neilson, Christopher; Smith, Jonathan
作者单位：Stockholm School of Economics; Stockholm University; Stockholm University; University of London; London School Economics & Political Science; VATT Institute for Economic Research; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Charles University Prague; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Boston University; Princeton University; Leibniz Association; Leibniz Institut fur Wirtschaftsforschung Halle (IWH); RAND Corporation; University System of Georgia; Georgia State University
摘要：Family and social networks are widely believed to influence important life decisions, but causal identification of those effects is notoriously challenging. Using data from Chile, Croatia, Sweden, and the United States, we study within-family spillovers in college and major choice across a variety of national contexts. Exploiting college-specific admissions thresholds that directly affect older but not younger siblings' college options, we show that in all four countries a meaningful portion o...
