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作者：Anderson, D. Mark; Brown, Ryan; Charles, Kerwin Kofi; Rees, Daniel I.
作者单位：Montana State University System; Montana State University Bozeman; National Bureau of Economic Research; University of Colorado System; University of Colorado Denver; Yale University
摘要：Exploiting variation across states and municipalities in the timing and details of midwifery laws introduced during the period 1900-1940 and using data assembled from various primary sources, we find that requiring midwives to be licensed reduced maternal mortality by 7%-8% and may have led to modest reductions in infant mortality. These estimates represent the strongest evidence to date that licensing restrictions can improve the health of consumers and are directly relevant to ongoing policy...
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作者：Pastor, Lubos; Veronesi, Pietro
作者单位：Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; University of Chicago; National Bank of Slovakia; National Bureau of Economic Research; University of Chicago; Center for Economic & Policy Research (CEPR)
摘要：We develop a model of political cycles driven by time-varying risk aversion. Agents choose to work in the public or private sector and to vote Democratic or Republican. In equilibrium, when risk aversion is high, agents elect Democrats-the party promising more redistribution. The model predicts higher average stock market returns under Democratic presidencies, explaining the well-known presidential puzzle. The model can also explain why economic growth has been faster under Democratic presiden...
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作者：Chen, Yan; Kesten, Onur
作者单位：University of Michigan System; University of Michigan; Tsinghua University; University of Sydney
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作者：Aizawa, Naoki; Fang, Hanming
作者单位：University of Wisconsin System; University of Wisconsin Madison; National Bureau of Economic Research; University of Pennsylvania; ShanghaiTech University
摘要：We present and empirically implement an equilibrium labor market search model where risk-averse workers facing medical expenditure shocks are matched with firms making health insurance coverage decisions. We use our estimated model to evaluate the equilibrium impact of many health care reform proposals, including the 2010 Affordable Care Act (ACA). We use the estimates of the early impact of the ACA as a model validation. We find that income-based subsidies for health insurance premiums are cr...
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作者：Caliendo, Lorenzo; Mion, Giordano; Opromolla, Luca David; Rossi-Hansberg, Esteban
作者单位：Yale University; University of Sussex; Banco de Portugal; Princeton University
摘要：Using employer-employee matched and firm production quantity and input data for Portuguese firms, we study the endogenous response of productivity to firm reorganizations as measured by changes in the number of management layers. We show that, as a result of an exogenous demand or productivity shock that makes the firm reorganize and add a management layer, quantity-based productivity increases by about 6%, while revenue-based productivity drops by around 3%. Such a reorganization makes the fi...
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作者：Giorcelli, Michela; Moser, Petra
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; New York University; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR)
摘要：This paper exploits variation in the adoption of copyrights within Italy-due to the timing of Napoleon's military victories-to investigate the causal effects of copyrights on creativity. Baseline regressions compare changes in opera production across Italian states with and without copyrights. This analysis yields three main results. First, the adoption of copyrights led to a significant increase in the number of newly created operas. Second, copyrights raised the quality of new operas, measur...
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作者：Alexander, Diane
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：Billions of dollars have been spent on pilot programs searching for ways to reduce health care costs. I study one such program, in which hospitals pay doctors bonuses for reducing the total hospital costs of admitted Medicare patients. Doctors respond to the bonuses by becoming more likely to admit patients whose treatment can generate high bonuses and sorting healthier patients into participating hospitals. Conditional on patient health, however, doctors do not reduce costs or change procedur...
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作者：Herskovic, Bernard; Kelly, Bryan; Lustig, Hanno; Van Nieuwerburgh, Stijn
作者单位：University of California System; University of California Los Angeles; Yale University; National Bureau of Economic Research; Stanford University; National Bureau of Economic Research; Columbia University; Center for Economic & Policy Research (CEPR)
摘要：Firm volatilities comove strongly over time, and their common factor is the dispersion of the economy-wide firm size distribution. In the cross section, smaller firms and firms with a more concentrated customer base display higher volatility. Network effects are essential to explaining the joint evolution of the empirical firm size and firm volatility distributions. We propose and estimate a simple network model of firm volatility in which shocks to customers influence their suppliers. Larger ...
