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作者：Garthwaite, Craig; Gross, Tal; Notowidigdo, Matthew J.
作者单位：Northwestern University; National Bureau of Economic Research; Columbia University; University of Chicago
摘要：We study the effect of public health insurance on labor supply by exploiting a large public health insurance disenrollment. In 2005, approximately 170,000 Tennessee residents abruptly lost Medicaid coverage. Using both across- and within-state variation in exposure to the disenrollment, we estimate large increases in labor supply, primarily along the extensive margin. The increased employment is concentrated among individuals working at least 20 hours a week and receiving private, employer-pro...
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作者：Piketty, Thomas; Zucman, Gabriel
作者单位：Paris School of Economics; University of London; London School Economics & Political Science; University of California System; University of California Berkeley
摘要：How do aggregate wealth-to-income ratios evolve in the long run and why? We address this question using 1970-2010 national balance sheets recently compiled in the top eight developed economies. For the United States, United Kingdom, Germany, and France, we are able to extend our analysis as far back as 1700. We find in every country a gradual rise' of wealth-income ratios in recent decades, from about 200-300% in 1970 to 400-600% in 2010. In effect, today's ratios appear to be returning to the...
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作者：Cantoni, Davide; Yuchtman, Noam
作者单位：University of Munich; Leibniz Association; Ifo Institut
摘要：We present new data documenting medieval Europe's Commercial Revolution using information on the establishment of markets in Germany. We use these data to test whether medieval universities played a causal role in expanding economic activity, examining the foundation of Germany's first universities after 1386 following the papal schism. We find that the trend rate of market establishment breaks upward in 1386 and this break is greatest where the distance to a university shrank most. There is n...
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作者：Chodorow-Reich, Gabriel
作者单位：Harvard University
摘要：This article investigates the effect of bank lending frictions on employment outcomes. I construct a new data set that combines information on banking relationships and employment at 2,000 nonfinancial firms during the 2008-9 crisis. The article first verifies empirically the importance of banking relationships, which imply a cost to borrowers who switch lenders. I then use the dispersion in lender health following the Lehman crisis as a source of exogenous variation in the availability of cre...
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作者：Karabarbounis, Loukas; Neiman, Brent
作者单位：University of Chicago
摘要：The stability of the labor share of income is a key foundation in macroeconomic models. We document, however, that the global labor share has significantly declined since the early 1980s, with the decline occurring within the large majority of countries and industries. We show that the decrease in the relative price of investment goods, often attributed to advances in information technology and the computer age, induced firms to shift away from labor and toward capital. The lower price of inve...
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作者：Brunnermeier, Markus K.; Simsek, Alp; Xiong, Wei
作者单位：Princeton University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT)
摘要：This article proposes a welfare criterion for economies in which agents have heterogeneously distorted beliefs. Instead of taking a stand on whose belief is correct, our criterion asserts that an allocation is belief-neutral efficient (inefficient) if it is efficient (inefficient) under any convex combination of agents' beliefs. Although this criterion gives an incomplete ranking of social allocations, it can identify positive-and negative-sum speculation driven by conflicting beliefs in a bro...
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作者：Olea, Jose Luis Montiel; Strzalecki, Tomasz
作者单位：New York University; Harvard University
摘要：This article provides an axiomatic characterization of quasi-hyperbolic discounting and a more general class of semi-hyperbolic preferences. We impose consistency restrictions directly on the intertemporal trade-offs by relying on what we call annuity compensations. Our axiomatization leads naturally to an experimental design that disentangles discounting from the elasticity of intertemporal substitution. In a pilot experiment we use the partial identification approach to estimate bounds for t...
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作者：Puga, Diego; Trefler, Daniel
作者单位：Center for Economic & Policy Research (CEPR); University of Toronto
摘要：International trade can have profound effects on domestic institutions. We examine this proposition in the context of medieval Venice circa 800-1600. Early on, the growth of long-distance trade enriched a broad group of merchants who used their newfound economic muscle to push for constraints on the executive, that is, for the end of a de facto hereditary Doge in 1032 and the establishment of a parliament in 1172. The merchants also pushed for remarkably modern innovations in contracting insti...
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作者：Gollin, Douglas; Lagakos, David; Waugh, Michael E.
作者单位：University of Oxford; University of California System; University of California San Diego; National Bureau of Economic Research; New York University
摘要：According to national accounts data, value added per worker is much higher in the nonagricultural sector than in agriculture in the typical country, particularly in developing countries. Taken at face value, this agricultural productivity gap suggests that labor is greatly misallocated across sectors. In this article, we draw on new micro evidence to ask to what extent the gap is still present when better measures of sector labor inputs and value added are taken into consideration. We find tha...
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作者：Billings, Stephen B.; Deming, David J.; Rockoff, Jonah
作者单位：University of North Carolina; University of North Carolina Charlotte; Harvard University
摘要：We study the end of race-based busing in Charlotte-Mecklenburg schools (CMS). In 2001, school boundaries in CMS were redrawn dramatically, and half of students received a new assignment. Using addresses measured prior to the policy change, we compare students in the same neighborhood that lived on opposite sides of a newly drawn boundary. We find that both white and minority students score lower on high school exams when they are assigned to schools with more minority students. We also find de...
