作者：Cameron, Lisa; Seager, Jennifer; Shah, Manisha
作者单位：University of Melbourne; George Washington University; University of California System; University of California Los Angeles; National Bureau of Economic Research
摘要：We examine the impact of criminalizing sex work, exploiting an event in which local officials unexpectedly criminalized sex work in one district in East Java, Indonesia, but not in neighboring districts. We collect data from female sex workers and their clients before and after the change. We find that criminalization increases sexually transmitted infections among female sex workers by 58 percent, measured by biological tests. This is driven by decreased condom access and use. We also find ev...
作者：Lian, Chen; Ma, Yueran
作者单位：University of California System; University of California Berkeley; University of Chicago
摘要：Macro-finance analyses commonly link firms' borrowing constraints to the liquidation value of physical assets. For U.S. nonfinancial firms, we show that 20% of debt by value is based on such assets (asset-based lending in creditor parlance), whereas 80% is based predominantly on cash flows from firms' operations (cash flow-based lending). A standard borrowing constraint restricts total debt as a function of cash flows measured using operating earnings (earnings-based borrowing constraints). Th...
