-
作者：Chopra, Felix; Roth, Christopher; Wohlfart, Johannes
作者单位：IZA Institute Labor Economics; Leibniz Association; Ifo Institut; Frankfurt School Finance & Management; University of Cologne; University of Cologne
摘要：We conduct afield experiment with US households to study how expectations about long-run home price growth shape spending decisions. We exogenously vary survey respondents' expectations by providing different expert forecasts. Homeowners' spending, measured using rich home-scanner data, is inelastic to home price expectations. By contrast, renters reduce their spending when expecting higher home price growth. These patterns reflect positive wealth effects for owners from higher future wealth a...
-
作者：Koffi, Marlene
作者单位：University of Toronto; National Bureau of Economic Research
摘要：This paper analyzes recognition of women's innovative ideas compared to men's using bibliometric data in economics, mathematics, and sociology. I establish similarities between papers to construct relevant counterfactual citations. On average, all-female papers receive 10 percent fewer citations than all-male papers, a disparity reduced by 40 percent when considering team sizes and disappearing in most fields with authors' publication records. Additionally, strong in-group preferences emerge: ...
-
作者：Truffa, Francesca; Wong, Ashley
作者单位：University of Michigan System; University of Michigan; Tilburg University
摘要：Can diversity lead to greater research focus on populations underrepresented in science? Between 1960 and 1990, 76 all-male US universities transitioned to coeducation. Using a generalized difference-in-differences design, we find that coeducation led to a 44 percent increase in gender-related research publications. This increase is driven by research focused on female subjects and gender differences. While coeducation led to a compositional shift with more women and researchers interested in ...
-
作者：Cooper, Ryan; Doyle, Joseph J.; Hojman, Andres
作者单位：University of Chicago; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Pontificia Universidad Catolica de Chile
摘要：Children spend years in foster care, and bureaucratic hurdles can unnecessarily prolong their stays. The Mi Abogado program was introduced in Chile to enhance legal aid for foster children and accelerate family reunification. In a novel approach, the Chilean government randomized the introduction of the program for children living in institutions to evaluate effects on child well-being. Using registry data, we find the program significantly reduced the duration of foster care without increasin...
-
作者：Antolin-Diaz, Juan; Surico, Paolo
作者单位：University of London; London Business School; Centre for Economic Policy Research - UK
摘要：Military spending has large and persistent effects on output because it shifts the composition of public spending toward R&D. This boosts innovation and private investment in the medium term and increases productivity and GDP at longer horizons. Public R&D expenditure stimulates economic activities beyond the business cycle even when it is not associated with war spending. In contrast, the effects of public investment are shorter-lived, while public consumption has a modest impact at most hori...
-
作者：Brunnermeier, Markus; Correia, Sergio; Luck, Stephan; Verner, Emil; Zimmermann, Tom
作者单位：Princeton University; Federal Reserve System - USA; Federal Reserve Bank - Richmond; Federal Reserve System - USA; Federal Reserve Bank - New York; Massachusetts Institute of Technology (MIT); University of Cologne
摘要：This paper studies how a large increase in the price level is transmitted to the real economy through firm balance sheets. Using newly digitized macro-and micro-level data from the German inflation of 1919-1923, we show inflation led to a large reduction in real debt burdens and bankruptcies. Firms with higher nominal liabilities at the onset of inflation experienced a larger decline in interest expenses, a relative increase in their equity values, and higher employment during the inflation. T...
-
作者：Gulesci, Selim; Jindani, Sam; La Ferrara, Eliana; Smerdon, David; Sulaiman, Munshi; Young, Peyton
作者单位：Trinity College Dublin; National University of Singapore; Harvard University; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); University of Queensland; Bangladesh Rural Advancement Committee BRAC; BRAC University; University of Oxford
摘要：We propose a model to study when an intermediate action can serve as a stepping stone that enables the elimination of a harmful norm. While the intermediate action may facilitate the first step, it may also become a new norm. We derive intuitive conditions for stepping stones, which depend on the relative size of social penalties and intrinsic utility benefits. We propose an econometric approach to testing whether an intermediate action is a stepping stone, and apply it to original data on fem...
-
作者：Atkeson, Andrew; Heathcote, Jonathan; Perri, Fabrizio
作者单位：University of California System; University of California Los Angeles; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：The US net foreign asset position declined sharply after 2007, reaching negative 60 percent of GDP by the third quarter of 2023. This deterioration primarily reflects a US-specific rise in corporate asset values that inflated the value of US equity liabilities to the rest of the world. To interpret these trends, we develop an international macro-finance model of flows, stocks, asset valuations, the current account, and the net foreign asset position. We find that the welfare impact of rising a...
-
作者：Khan, Muhammad Yasir
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：This paper studies, through a randomized field experiment involving community health workers in Pakistan, if public sector organizations can improve worker performance by investing in their mission motivation. The findings reveal that training aimed at strengthening mission motivation improves workers' performance in their core responsibility of monthly household visits, as well as in multiple tasks performed during and outside these visits. This holistic improvement in performance leads to im...
