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作者：Urvoy, Camille
作者单位：University of Mannheim; Centre for Economic Policy Research - UK
摘要：What makes politicians respond to civil society organizations' demands? I use new data on government transfers to French associations and exploit close elections to show that politicians grant more funds to ideologically close organizations when the local incumbent is a political ally and was elected by a small margin. The results are consistent with politicians and organizations exchanging financial support for electoral support. Organizations secure funding because of the votes they can deli...
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作者：Boehm, Johannes; Fize, Etienne; Jaravel, Xavier
作者单位：Center for Economic & Policy Research (CEPR); Paris School of Economics; University of London; London School Economics & Political Science
摘要：We present five facts from an experiment on the marginal propensity to consume ( MPC ) out of transitory transfers: ( 1 ) the one-month MPC on a cash-like transfer is 23 percent; ( 2 ) it is substantially higher ( 61 percent) on a transfer administered via a card where remaining funds expire after three weeks, inconsistent with money fungibility; ( 3 ) the consumption response is concentrated in the first three weeks; ( 4 ) MPCs vary with household characteristics but are high even for the liq...
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作者：Cappelen, Alexander w.; Enke, Benjamin; Tungodden, Bertil
作者单位：Norwegian School of Economics (NHH); National Bureau of Economic Research
摘要：This paper leverages nationally representative surveys across 60 countries and 64,000 respondents to present novel stylized facts about the relationship-specific nature of altruism. Across individuals, universalist preferences systematically vary with demographics such as age and religiosity and are predictive of many left-wing political views, albeit in culturally highly heterogeneous ways. Across countries, universalism is strongly linked to a broader radius of trust. Looking at origins, uni...
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作者：Balboni, Clare
作者单位：University of London; London School Economics & Political Science
摘要：Coasts contain a disproportionate share of the world's population, reflecting historical advantages, but environmental change threatens a reversal of coastal fortune in the coming decades as natural disasters intensify and sea levels rise. This paper considers whether large infrastructure investments should continue to favor coastal areas. I estimate a dynamic spatial equilibrium framework using detailed geo-referenced data on road investments in Vietnam from 2000 to 2010 and find evidence tha...
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作者：Gruber, Jonathan; Howard, David h.; Leder-luis, Jetson; Caputi, Theodore l.
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Emory University; Boston University
摘要：The Medicare hospice program is intended to provide palliative care to terminal patients, but patients with long stays in hospice are highly profitable, motivating concerns about overuse among the Alzheimer's and Dementia ( ADRD ) population in the rapidly growing for-profit sector. We provide the first causal estimates of the effect of for-profit hospice on patient spending using the entry of for-profit hospices over 20 years. We find hospice has saved money for Medicare by offsetting other e...
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作者：Benigno, Gianluca; Fornaro, Luca; Wolf, Martin
作者单位：Centre for Economic Policy Research - UK; Barcelona School of Economics; Pompeu Fabra University; Centre de Recerca en Economia Internacional (CREI); University of St Gallen
摘要：We provide a model connecting the global saving glut to productivity growth. The key feature is that the tradable sector is the engine of growth of the economy. Capital flows from developing countries to the United States boost demand for US nontradable goods, inducing a reallocation of US economic activity from the tradable sector to the nontradable one. In turn, lower profits in the tradable sector lead firms to cut back investment in innovation. Since innovation in the United States determi...
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作者：Haddad, Valentin; Moreira, Alan; Muir, Tyler
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; University of Rochester
摘要：At the announcement of a new policy, agents form a view of state-contingent policy actions and impact. We develop a method to estimate this state-contingent perception and implement it for many asset-purchase interventions worldwide. Expectations of larger support in bad states-policy puts-explain a large fraction of the announcements' impact. For example, when the Fed introduced purchases of corporate bonds in March 2020, markets expected five times more price support had conditions worsened ...
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作者：Heimer, Rawley; Iliewa, Zwetelina; Imas, Alex; Weber, Martin
作者单位：Arizona State University; Arizona State University-Tempe; University of Bonn; University of Chicago; University of Mannheim
摘要：We document a robust dynamic inconsistency in risky choice. Using a unique brokerage dataset and a series of experiments, we compare people's initial risk-taking plans to their subsequent decisions. Across settings, people accept risk as part of a loss-exit strategy-planning to continue taking risk after gains and stopping after losses. Actual behavior deviates from initial strategies by cutting gains early and chasing losses. More people accept risk when offered a commitment to their initial ...
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作者：Andrabi, Tahir; Bau, Natalie; Das, Jishnu; Khwaja, Asim i.
作者单位：Claremont Colleges; Pomona College; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; University of California System; University of California Los Angeles; Georgetown University; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); Harvard University; National Bureau of Economic Research
摘要：We estimate and validate test score-based measures of school quality ( school value added, or SVA) in Pakistan. We document substantial variation in SVA within villages and within the public and private sectors, leading to a wide range of possible estimates of the private premium. We also show that parents value SVA. Heterogeneity in parental demand for quality helps explain both the evolution of the market over time and cross-market variation in school quality. The supply side responds to par...
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作者：Horton, John J.
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：Firms posting job openings in an online labor market were randomly assigned minimum hourly wages. When facing a minimum wage, fewer firms hired, but those they did hire paid higher wages. Hours- worked fell substantially. Treated firms shifted to hiring more productive workers. Using the platform's imposition of a market-wide minimum wage after the experiment, I find that many of the experimental results also hold in equilibrium, including the substitution towards more productive workers. Howe...
