-
作者：Card, David; Dahl, Gordon B.
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; University of California System; University of California San Diego
摘要：We study the link between family violence and the emotional cues associated with wins and losses by professional football teams. We hypothesize that the risk of violence is affected by the gain-loss utility of game outcomes around a rationally expected reference point. Our empirical analysis uses police reports of violent incidents on Sundays during the professional football season. Controlling for the pregame point spread and the size of the local viewing audience, we find that upset losses (...
-
作者：Acemoglu, Daron; Hassan, Tarek A.; Robinson, James A.
作者单位：Massachusetts Institute of Technology (MIT); University of Chicago; Harvard University
摘要：We document a statistical association between the severity of the persecution, displacement and mass murder of Jews by the Nazis during World War II and long-run economic and political outcomes within Russia. Cities that experienced the Holocaust most intensely have grown less, and both cities and administrative districts (oblasts) where the Holocaust had the largest impact have worse economic and political outcomes since the collapse of the Soviet Union. We provide evidence that the lasting i...
-
作者：Athey, Susan; Ellison, Glenn
作者单位：Harvard University; Massachusetts Institute of Technology (MIT)
摘要：This article examines a model in which advertisers bid for sponsored-link positions on a search engine. The value advertisers derive from each position is endogenized as coming from sales to a population of consumers who make rational inferences about firm qualities and search optimally. Consumer search strategies, equilibrium bidding, and the welfare benefits of position auctions are analyzed. Implications for reserve prices and a number of other auction design questions are discussed.
-
作者：Ellingsen, Tore; Kristiansen, Eirik Gaard
作者单位：Stockholm School of Economics; Norwegian School of Economics (NHH)
摘要：We develop a model of financial contracting under imperfect enforcement. Financial contracts are designed to keep entrepreneurs from diverting project returns, but enforcement is probabilistic and penalties are limited. The model rationalizes the prevalence of straight debt and common stock, and its predictions are consistent with a host of empirical capital structure regularities. JEL Codes: G32.
-
作者：Maggi, Giovanni; Staiger, Robert W.
作者单位：Yale University; National Bureau of Economic Research; Stanford University
摘要：Although disputes are typically treated as synonymous with concerns about enforcement in economic models of trade agreements, in reality most WTO disputes seem to concern the interpretation of vague provisions, or instances where the agreement is silent. And some have suggested that the WTO's Dispute Settlement Body (DSB) could usefully grant exceptions to rigid contractual obligations. These activist DSB roles could help complete an incomplete contract. But how activist should the DSB be? Sho...
-
作者：Malmendier, Ulrike; Nagel, Stefan
作者单位：University of California System; University of California Berkeley; Stanford University; National Bureau of Economic Research
摘要：We investigate whether individual experiences of macroeconomic shocks affect financial risk taking, as often suggested for the generation that experienced the Great Depression. Using data from the Survey of Consumer Finances from 1960 to 2007, we find that individuals who have experienced low stock market returns throughout their lives so far report lower willingness to take financial risk, are less likely to participate in the stock market, invest a lower fraction of their liquid assets in st...
-
作者：Baird, Sarah; McIntosh, Craig; Oezler, Berk
作者单位：George Washington University; University of California System; University of California San Diego; The World Bank
摘要：This article assesses the role of conditionality in cash transfer programs using a unique experiment targeted at adolescent girls in Malawi. The program featured two distinct interventions: unconditional transfers (UCT arm) and transfers conditional on school attendance (CCT arm). Although there was a modest decline in the dropout rate in the UCT arm in comparison with the control group, it was only 43% as large as the impact in the CCT arm at the end of the 2-year program. The CCT arm also ou...
-
作者：Dittmar, Jeremiah E.
作者单位：American University
摘要：The printing press was the great innovation in early modern information technology, but economists have found no macroeconomic evidence of its impact. This article exploits city-level data. Between 1500 and 1600, European cities where printing presses were established in the 1400s grew 60% faster than otherwise similar cities. Cities that adopted printing in the 1400s had no prior advantage, and the association between adoption and subsequent growth was not due to printers choosing auspicious ...
-
作者：Chetty, Raj; Friedman, John N.; Hilger, Nathaniel; Saez, Emmanuel; Schanzenbach, Diane Whitmore; Yagan, Danny
作者单位：Harvard University; National Bureau of Economic Research; University of California System; University of California Berkeley; Northwestern University
摘要：In Project STAR, 11,571 students in Tennessee and their teachers were randomly assigned to classrooms within their schools from kindergarten to third grade. This article evaluates the long-term impacts of STAR by linking the experimental data to administrative records. We first demonstrate that kindergarten test scores are highly correlated with outcomes such as earnings at age 27, college attendance, home ownership, and retirement savings. We then document four sets of experimental impacts. F...
