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作者：Coviello, Decio; Deserranno, Erika; Persico, Nicola
作者单位：Universite de Montreal; HEC Montreal; Northwestern University; Northwestern University; Northwestern University; National Bureau of Economic Research
摘要：We study workers who are employed by a large US retailer, work in many store locations, and are paid based on performance. By means of a border-discontinuity analysis, we document that workers become more productive and are terminated less often after a minimum wage increase. These effects are stronger among workers whose pay is more often supported by the minimum wage. However, when workers are monitored less intensely, the minimum wage depresses productivity. We interpret these findings thro...
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作者：Bau, Natalie
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; Centre for Economic Policy Research - UK
摘要：The quality of the match between students and schools affects learning, but little is known about the magnitude of these effects or how they respond to changes in market structure. I develop a quantitative equilibrium model of school competition with horizontal competition in match quality. I estimate the model using data from Pakistan, a country with high private enrollment, and (1) quantify the importance of good matches, (2) show that profit-maximizing private schools' choices of quality ad...
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作者：Beach, Brian; Brown, Ryan; Ferrie, Joseph; Saavedra, Martin; Thomas, Duncan
作者单位：Vanderbilt University; National Bureau of Economic Research; Children's Hospital Colorado; University of Colorado System; University of Colorado Anschutz Medical Campus; University of Colorado Denver; Northwestern University; University System of Ohio; Oberlin College; National Bureau of Economic Research; Duke University
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作者：Barr, Andrew; Gibbs, Chloe R. R.
作者单位：Texas A&M University System; Texas A&M University College Station; University of Notre Dame
摘要：Despite substantial evidence that resources and outcomes are transmitted across generations, there has been limited inquiry into the extent to which antipoverty programs actually disrupt the cycle of bad outcomes. We leverage the rollout of the United States's largest early-childhood program, Head Start, to estimate the effect of early-childhood exposure among mothers on their children's long-term outcomes. We find evidence of intergenerational transmission of effects in the form of increased ...
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作者：Buffa, Andrea M.; Vayanos, Dimitri; Woolley, Paul
作者单位：University of Colorado System; University of Colorado Boulder; Centre for Economic Policy Research - UK; University of London; London School Economics & Political Science; University of London; London School Economics & Political Science
摘要：We model asset management as a continuum between active and passive: managers can deviate from benchmark indices to exploit noise trader-induced distortions, but agency frictions constrain these deviations. Because constraints force managers to buy assets that they underweight when these assets appreciate, overvalued assets have high volatility, and the risk-return relationship becomes inverted. Distortions are more severe for overvalued assets than for undervalued ones because trading against...
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作者：Hristakeva, Sylvia
作者单位：University of California System; University of California Los Angeles
摘要：Producers frequently provide retailers with financial incentives to secure product distribution. These payments often take the form of vendor allowances: lump-sum transfers to retailers that do not directly depend on quantity sold. I introduce an estimation strategy that uses observed product selections to inform unobserved allowances. I use retailers' replacement threats, which may allow them to capture both vendor transfers and lower wholesale prices. A counterfactual restricts firms to cont...
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作者：Baley, Isaac; Figueiredo, Ana; Ulbricht, Robert
作者单位：Pompeu Fabra University; Barcelona School of Economics; Centre de Recerca en Economia Internacional (CREI); Centre for Economic Policy Research - UK; Pompeu Fabra University; Tinbergen Institute; Boston College
摘要：This paper studies the cyclical dynamics of skill mismatch and quantifies its impact on labor productivity. We build a tractable directed search model, in which workers differ in skills along multiple dimensions and sort into jobs with heterogeneous skill requirements. Skill mismatch arises because of information frictions and is prolonged by search frictions. Estimated to the United States, the model replicates salient business cycle properties of mismatch. Job transitions in and out of botto...
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作者：Bell, Brian; Costa, Rui; Machin, Stephen
作者单位：University of London; King's College London; University of London; London School Economics & Political Science
摘要：We provide a unifying empirical framework to study why crime reductions occurred due to a sequence of state-level dropout age reforms enacted between 1980 and 2010 in the United States. Because the reforms changed the shape of crime-age profiles, they generate both a short-term incapacitation effect and a more sustained crime-reducing effect. In contrast to previous research looking at earlier US education reforms, we find that reform-induced crime reduction does not arise primarily from educa...
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作者：Carlson, Mark; Correia, Sergio; Luck, Stephan
作者单位：Federal Reserve System - USA; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：How does banking competition affect credit provision and growth? How does it affect financial stability? In order to identify the causal effects of banking competition, we exploit a discontinuity in bank capital requirements during the nineteenth-century National Banking Era. We show that banks operating in markets with lower entry barriers extend more credit. The resulting credit expansion, in turn, is associated with additional real economic activity. However, banks in markets with lower ent...
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作者：Fioretti, Michele
作者单位：Institut d'Etudes Politiques Paris (Sciences Po)
摘要：Many firms claim that social impact influences their strategies. This paper develops a structural model that quantifies social impact as the sum of surpluses to a firm and its stakeholders. With data from a for-profit firm whose prosocial expenditures are measurable and salient to consumers, the analysis shows that the firm spends prosocially beyond profit maximization, thereby increasing welfare substantially. Incentivizing a standard profit-maximizing firm to behave similarly would require s...
