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作者：Collier, Benjamin L.; Ellis, Cameron M.; Keys, Benjamin J.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; University of Iowa; University of Pennsylvania; National Bureau of Economic Research
摘要：How do collateral requirements impact consumer borrowing behavior? Using administrative loan application and performance data from the U.S. Federal Disaster Loan Program, we exploit a loan amount threshold above which households must post their residence as collateral. Our bunching estimates suggest that the median borrower is willing to give up 40% of their loan amount to avoid posting collateral. Exploiting time variation in the threshold, we estimate collateral causally reduces default rate...
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作者：Kawai, Kei; Sunada, Takeaki
作者单位：University of California Berkeley; University of California System; University of California Berkeley; University of Tokyo; University of Rochester
摘要：We estimate valence measures of candidates running in U.S. House elections from data on vote shares. Our identification and estimation strategy builds on ideas developed for estimating production functions, allowing us to control for possible endogeneity of campaign spending and sample selection of candidates due to endogenous entry. We find that incumbents have substantially higher valence measures than challengers running against them, resulting in about 3.5 percentage-point differences in t...
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作者：Ali, S. Nageeb; Mihm, Maximilian; Siga, Lucas
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; New York University; New York University Abu Dhabi; University of Essex
摘要：This paper offers a strategic rationale for zero-sum thinking in elections. We show that asymmetric information and distributional considerations together make voters wary of policies supported by others. This force impels a majority of voters to support policies contrary to their preferences and information. Our analysis identifies and interprets a form of adverse correlation that is necessary and sufficient for zero-sum thinking to prevail in equilibrium.
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作者：Dal Bo, Ernesto
作者单位：University of California Berkeley; University of California System; University of California Berkeley
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作者：Beraja, Martin; Hurst, Erik; Ospina, Juan
作者单位：Massachusetts Institute of Technology (MIT); University of Chicago; Banco de la Republica Colombia
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作者：Nelson, Scott T.
作者单位：University of Chicago
摘要：The 2009 CARD Act limited credit card lenders' ability to raise borrowers' interest rates on the basis of new information. Pricing became less responsive to public and private signals of borrowers' risk and demand characteristics, and price dispersion fell by one-third. I estimate the efficiency and distributional effects of this shift toward more pooled pricing. Prices fell for high-risk and price-inelastic consumers, but prices rose elsewhere in the market and newly exceeded willingness to p...
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作者：Agarwal, Nikhil; Hodgson, Charles; Somaini, Paulo
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Yale University; Stanford University
摘要：While the mechanism design paradigm emphasizes notions of efficiency based on agent preferences, policymakers often focus on alternative objectives. School districts emphasize educational achievement, and transplantation communities focus on patient survival. It is unclear whether choice-based mechanisms perform well when assessed based on these outcomes. This paper evaluates the assignment mechanism for allocating deceased donor kidneys on the basis of patient life-years from transplantation ...
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作者：Fieler, Ana Cecilia; Eaton, Jonathan
作者单位：Yale University; National Bureau of Economic Research; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：Welfare depends on the quantity, quality, and range of goods consumed. We use trade data, which report the quantities and prices of the individual goods that countries exchange, to learn about how the gains from trade and growth break down into these different margins. Our general equilibrium model, in which both quality and quantity contribute to consumption and to production, captures (i) how prices increase with importer and exporter per capita income, (ii) how the range of goods traded ris...
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作者：Itskhoki, Oleg; Mukhin, Dmitry
作者单位：Harvard University; University of London; London School Economics & Political Science
摘要：The Mussa (1986) puzzle is the observation of a sharp and simultaneous increase in the volatility of both nominal and real exchange rates following the end of the Bretton Woods System of pegged exchange rates in 1973. It is commonly viewed as a central piece of evidence in favor of monetary non-neutrality because it is an instance in which a change in the monetary regime caused a dramatic change in the equilibrium behavior of a real variable-the real exchange rate-and is often further interpre...
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作者：Kim, Scott; Moser, Petra
作者单位：University of Pennsylvania; New York University; National Bureau of Economic Research; Centre for Economic Policy Research - UK
摘要：This paper investigates how children affect women in science, using biographies in the American Men of Science (MoS 1956), linked with publications. First, we show that mothers have a unique life cycle pattern of productivity: While other scientists peak in their mid-30s, mothers become less productive at that age and reach peak productivity in their early-40s. Next, we estimate event studies of marriage, comparing mothers and fathers with other married scientists. Event study estimates show t...
