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作者：Ferreira, Pedro Cavalcanti; Monge-Naranjo, Alexander; Pereira, Luciene Torres de Mello
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Atlanta; Centre for Economic Policy Research - UK; Getulio Vargas Foundation
摘要：We study the emergence and persistence of urban slums in Brazil. Using data on labor markets, housing costs, and access to education, we construct a quantitative model to explore the impact of slums on the country's human capital and structural transformation. Urban slums emerge and persist due to their dual roles as intergenerational stepping stones for low-educated households and as blockades for higher-educated ones. Providing slum children access to schools in formal urban areas would have...
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作者：Stokey, Nancy L.
作者单位：University of Chicago
摘要：In his work on economic development, Lucas's goals were to understand the enormous diversity across countries in levels and growth rates of per capita income and to build a framework for studying developing economies with the same kind of precision and rigor that the neoclassical growth model had brought to the study of already industrialized countries. Lucas found knowledge spillovers to be a key mechanism. Thus, human capital, which he viewed broadly, is at the center of much of his work, an...
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作者：Eliason, Paul; League, Riley; Leder-Luis, Jetson; Mcdevitt, Ryan C.; Roberts, James W.
作者单位：Utah System of Higher Education; University of Utah; National Bureau of Economic Research; University of Illinois System; University of Illinois Urbana-Champaign; Boston University; Duke University
摘要：We study the effectiveness of pay-and-chase lawsuits and up-front regulations for combating health-care fraud. Between 2003 and 2017, Medicare spent $7.7 billion on 37.5 million regularly scheduled ambulance rides for patients traveling to and from dialysis facilities even though many did not satisfy Medicare's criteria for receiving reimbursements. Using an identification strategy based on the staggered timing of regulations and lawsuits across the United States, we find that adding a prior a...
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作者：Halac, Marina; Yared, Pierre
作者单位：Yale University; Center for Economic & Policy Research (CEPR); Columbia University; National Bureau of Economic Research
摘要：We propose a political economy mechanism that explains the presence of fiscal regimes punctuated by crisis periods. Our model focuses on the interaction between successive deficit-biased governments subject to independently and identically distributed fiscal shocks. We show that the economy transitions between a fiscally responsible regime and a fiscally irresponsible regime, with transitions occurring during crises when fiscal needs are large. Under fiscal responsibility, governments limit th...
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作者：Jacome, Elisa; Kuziemko, Ilyana; Naidu, Suresh
作者单位：Northwestern University; Princeton University; Columbia University; National Bureau of Economic Research
摘要：We estimate long-run trends in intergenerational relative mobility for representative samples of the US-born population. Harmonizing all surveys that include father's occupation and own family income, we develop a mobility measure that allows for the inclusion of nonwhite individuals and women for the 1910s-1970s birth cohorts. We show that mobility increases between the 1910s and 1940s cohorts and that the decline of Black-white income gaps explains about half of this rise. We also find that ...
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作者：Bakkensen, Laura; Phan, Toan; Wong, Tsz-Nga
作者单位：University of Oregon; Federal Reserve System - USA; Federal Reserve Bank - Richmond
摘要：We develop a credit search model with maturity choice where agents disagree on when a long-run disaster will damage collateral assets. It predicts that disaster-pessimistic agents are more likely to leverage risky asset purchases and prefer debt contracts with longer maturities. Intuitively, pessimists value the default option of debt contracts as implicit disaster insurance, whose coverage increases with maturity implicitly and costs less to optimistic lenders. Using high-resolution sea level...
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作者：Greenwald, Daniel L.; Lettau, Martin; Ludvigson, Sydney C.
作者单位：New York University; National Bureau of Economic Research; University of California System; University of California Berkeley; New York University; Center for Economic & Policy Research (CEPR)
摘要：Why does the stock market rise and fall? From 1989 to 2017, the real per capita value of corporate equity increased at a 7.2% annual rate. We estimate that 40% of this increase was attributable to a reallocation of rewards to shareholders in a decelerating economy, primarily at the expense of labor compensation. Economic growth accounted for just 25% of the increase, followed by a lower risk price (21%) and lower interest rates (14%). The period 1952-88 experienced only one-third as much growt...
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作者：Mommaerts, Corina
作者单位：University of Wisconsin System; University of Wisconsin Madison; National Bureau of Economic Research
摘要：This paper examines whether informal care by family members influences the demand for long-term care insurance. Motivated by evidence that the availability of informal caregivers correlates with lower insurance demand and that informal care substitutes for formal care, I estimate a dynamic model of long-term care decisions between an elderly parent and her adult child. The availability of informal care lowers demand for insurance by 7 percentage points and suppresses Medicaid spending. A polic...
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作者：Deserranno, Erika; Caria, A. Stefano; Kastrau, Philipp; Leon-Ciliotta, Gianmarco
作者单位：Northwestern University; University of Warwick; Barcelona School of Economics; Pompeu Fabra University
摘要：Does the allocation of incentives across the hierarchy of an organization matter for its performance? In an experiment with a large public health organization, we find that health care provision is highly affected by how incentives are allocated between frontline workers and their supervisors. Sharing incentives equally between these two layers raises health visits by 61% compared with unilateral allocations and uniquely improves health service provision and health outcomes. We provide reduced...
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作者：Bernini, Andrea; Facchini, Giovanni; Tabellini, Marco; Testa, Cecilia
作者单位：University of Oxford; University of Nottingham; Harvard University
摘要：How did Southern whites respond to the 1965 Voting Rights Act (VRA)? Leveraging newly digitized data on county-level voter registration by race between 1956 and 1980 and exploiting predetermined variation in exposure to the federal intervention, we document that the VRA increases both Black and white political participation. Consistent with the VRA triggering white countermobilization, the surge in white registrations is concentrated in counties where African Americans represent a political th...
