-
作者：Dessein, Wouter; Frankel, Alex; Kartik, Navin
作者单位：Columbia University; University of Chicago; Columbia University
摘要：Many US colleges now use test-optional admissions. A frequent claim is that by not seeing standardized test scores, a college can admit a student body it prefers, say, with more diversity. But how can observing less information improve decisions? This paper proposes that test-optional policies are a response to social pressure on admission decisions. We model a college that bears disutility when it makes admission decisions that society dislikes. Going test optional allows the college to reduc...
-
作者：Kleyen, Henrik; Kreiner, Claus; Larsen, Kristian; Sogaard, Jakob
作者单位：Princeton University; National Bureau of Economic Research; Centre for Economic Policy Research - UK; Leibniz Association; Ifo Institut; University of Copenhagen
摘要：We investigate long-run earnings responses to taxes in the presence of dynamic returns to effort. First, we develop a theoretical model of earnings determination with dynamic returns to effort. In this model, earnings responses are delayed and mediated by job switches. Second, using administrative data from Denmark, we verify our model's predictions about earnings and hours-worked patterns over the life cycle. Third, we provide a quasi-experimental analysis of long-run earnings elasticities. I...
-
作者：Kroft, Kory; Luo, Yao; Mogstad, Magne; Setzler, Bradley
作者单位：University of Toronto; National Bureau of Economic Research; University of Chicago; Statistics Norway; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：We develop, identify, and estimate a model of imperfect competition in both labor and product markets. Our context is the US construction industry, where firms compete for workers, private market projects, and government procurements. Our empirical approach leverages bidding data from procurement auctions linked to employer-employee tax records. We find imperfect competition in both markets generates a total wage markdown of more than 30 percent and a total price markup of around 45 percent. B...
-
作者：Shapiro, Joseph s.; Walker, Reed
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：We develop a framework to estimate the marginal cost of air pollution regulation and apply it to assess policy efficiency. We exploit a provision of the Clean Air Act that requires new plants to pay incumbent facilities to reduce emissions. This offset policy creates hundreds of local pollution markets, differing by pollutant and location. Theory and transaction data suggest that offset prices reveal marginal abatement costs. We compare these prices to marginal benefits of pollution reduction ...
-
作者：Hartzmark, Samuel M.; Solomon, David H.
作者单位：Boston College
摘要：We demonstrate that predictable uninformed cash flows forecast aggregate market stock returns. Buying pressure from dividend payments (announced weeks prior) predicts higher value-weighted market returns, with returns for the top quintile of payment days four times higher than the lowest. This holds internationally and increases when reinvestment is high and market liquidity is low. We estimate a market-level price multiplier of 1.9. These results suggest price pressure is a widespread result ...
-
作者：Yang, Frank
作者单位：Harvard University
摘要：A nested bundling strategy creates menus in which more expensive bundles include all the goods of less expensive ones. We study when nested bundling is optimal and determine which nested menu is optimal, when consumers differ in one dimension. We define a partial order on bundles by (i) set inclusion and (ii) sales quantity when sold alone. We show that, under quasi-concavity assumptions, if the undominated bundles with respect to this partial order are nested, then nested bundling is optimal....
-
作者：Szeidl, Adam; Szucs, Ferenc
摘要：We model populism as the dissemination of a false alternative reality, according to which the intellectual elite conspires against the populist for purely ideological reasons. If enough voters are receptive to it, this alternative reality-by discrediting the elite's truthful message-reduces political accountability. Elite criticism, because it is more consistent with the alternative reality, strengthens receptive voters' support for the populist. Alternative realities are endogenously conspira...
-
作者：Abou Daher, Chaza; Field, Erica; Swanson, Kendal; Vyborny, Kate
作者单位：Duke University; National Bureau of Economic Research; Duke University; The World Bank
摘要：We conduct a field experiment to quantify the impact of the lifting of the Saudi women's driving ban on women's employment by randomizing rationed spaces in driver's training. Treated women are 41 percent more likely to be employed yet are 19 percent less likely to be able to make purchases without family permission. Patterns of heterogeneous treatment effects reveal that these divergent impacts of access to driving are experienced by distinct subgroups of women. The results underscore the imp...
-
作者：Amodio, Francesco; Medina, Pamela; Morlacco, Monica
作者单位：McGill University; IZA Institute Labor Economics; University of Toronto; University Toronto Scarborough; University of Toronto; University of Southern California
摘要：This paper shows that self-employment shapes labor market power in low-income countries, with implications for industrial development. Using Peruvian data, we find that wage-setting power increases with employer concentration but less so where self-employment is more prevalent. A general equilibrium model shows that in oligopsonistic labor markets, self-employment raises the supply elasticity of wage labor, weakening employer market power. However, by the same mechanism, procompetitive policie...
-
作者：Hawkins, Amelia; Hollrah, Christopher; Miller, Sarah; Wherry, Laura r.; Aldana, Gloria; Wong, Mitchell
作者单位：Brandeis University; University of Michigan System; University of Michigan; National Bureau of Economic Research; New York University; University of California System; University of California Los Angeles; University of California Los Angeles Medical Center; David Geffen School of Medicine at UCLA
摘要：The Supplemental Security Income program uses a birth weight cutoff at 1,200 grams to determine eligibility. Using birth certificates linked to administrative records, we find low-income families of infants born just below the cutoff receive higher monthly cash benefits (equal to 27 percent of family income) at ages 0-2 with smaller benefits continuing through age 10. Yet we detect no improvements in health care use and mortality in infancy, nor in health and human capital outcomes as observed...
