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作者：Daruich, Diego; Fernandez, Raquel
作者单位：New York University; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; IZA Institute Labor Economics
摘要：Universal basic income (UBI) is an increasingly popular policy proposal, but there is no evidence regarding its longer-term consequences. We find that UBI generates large welfare losses in a genshocks, and intergenerational linkages via skill formation and transfers. This conclusion is robust to various alternative ways of financing UBI. By using observationally equivalent models that eliminate different sources of endogenous dynamic linkages (equilibrium capital market and parental investment...
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作者：Kolsrud, Jonas; Landais, Camille; Reck, Daniel; Spinnewijn, Johannes
作者单位：Linnaeus University; University of London; London School Economics & Political Science; University System of Maryland; University of Maryland College Park
摘要：effects of pension reforms. Using Swedish administrative data, we show that on average, workers who retire earlier consume less while retired and experience larger drops in consumption around retirement. Interpreted via a theoretical model, these findings imply that reforms incentivizing later retirement incur a substantial consumption smoothing cost. Turning to other features of pension policy, we find that reforms that redistribute based on early-career labor supply would have opposite-signe...
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作者：Aghamolla, Cyrus; Karaca-Mandic, Pinar; Li, Xuelin; Thakor, Richard T.
作者单位：Rice University; University of Minnesota System; University of Minnesota Twin Cities; National Bureau of Economic Research; Columbia University
摘要：This study examines the link between credit supply and hospital health outcomes. We use bank stress tests as exogenous shocks to credit access for hospitals that have lending relationships with tested banks. We find that affected hospitals shift their operations to increase resource utilization following a negative credit shock but reduce the quality of their care to patients across a variety of measures, including a significant increase in risk-adjusted readmission and mortality rates. The re...
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作者：Kelley, Erin M.; Lane, Gregory; Schonholzer, David
作者单位：University of Chicago; University of California System; University of California Santa Cruz
摘要：Small firms struggle to grow beyond a few employees. We introduce monitoring devices into commuter minibuses in Kenya and randomize which minibus owners have access to the data using a novel mobile app. We find that treated vehicle owners modify the terms of the contract to induce higher effort and lower risk taking from their drivers. This reduces firm costs and increases firm profitability. There is suggestive evidence that some firms expand. These results suggest that small firms may be abl...
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作者：Gagnon-Bartsch, Tristan; Rosato, Antonio
作者单位：University of Iowa; University of Queensland; University of Naples Federico II
摘要：We study how misperceptions of others' tastes influence beliefs, demand, and prices in markets with observational learning. Consumers infer a good's quality from the quantity demanded and price paid by others. When consumers exaggerate the similarity between their and others' tastes, such taste projection generates discrepant quality perceptions, which are decreasing in a projector's taste and increasing in the observed price. These biased inferences produce an excessively elastic market deman...
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作者：Ellis, Andrew; Freeman, David J.
作者单位：University of London; London School Economics & Political Science; Simon Fraser University
摘要：Experiments suggest that people fail to take into account interdependencies between their choices-they do not broadly bracket. Researchers often instead assume people narrowly bracket, , but existing designs do not test it. We design a novel experiment and revealed preference tests for how someone brackets their choices. In portfolio allocation under risk, , social allocation, , and induced-value shopping experiments, , 40-43 percent of subjects are consistent with narrow bracketing, and 0-16 ...
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作者：Aneja, Abhay; Xu, Guo
作者单位：University of California System; University of California Berkeley; University of California System; University of California Berkeley
摘要：We use newly digitized records from the post office to study the effects of strengthened state capacity between 1875 and 1901. Exploiting the implementation of the Pendleton Act-a landmark statute that shielded bureaucrats from political interference-across US cities over two waves, , we find that civil service reform reduced postal delivery errors and increased productivity. These improvements were most pronounced during election years when the reform dampened bureaucratic turnover. We provid...
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作者：da Silveira, Rava Azeredo; Sung, Yeji; Woodford, Michael
作者单位：Universite Paris Cite; Centre National de la Recherche Scientifique (CNRS); Universite PSL; Ecole Normale Superieure (ENS); Sorbonne Universite; University of Basel; Federal Reserve System - USA; Federal Reserve Bank - San Francisco; Columbia University
摘要：We propose a model of optimal decision-making subject to a memory constraint in the spirit of models of rational inattention. Our theory differs from that of Sims ( 2003 ) in not assuming costless memory of past cognitive states. The model implies that both forecasts and actions will exhibit idiosyncratic random variation; that average beliefs will exhibit a bias that fluctuates forever; and that more recent news will be given disproportionate weight in forecasts. The model provides a simple e...
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作者：Moscona, Jacob; Seck, Awa Ambra
作者单位：Massachusetts Institute of Technology (MIT); Harvard University
摘要：We study how social organization shapes patterns of economic interaction and the effects of national policy , , focusing on the distinction between age-based and kin-based groups in sub-Saharan Africa. Motivated by ethnographic accounts suggesting that this distinction affects redistribution , , we analyze a cash transfer program in Kenya and find that in age-based societies there are consumption spillovers within the age cohort , , but not the extended family , , while in kin-based societies ...
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作者：Barnwal, Prabhat
作者单位：Michigan State University
摘要：Targeted price subsidies create a gap between subsidized and unsub- sidized prices. The resulting dual pricing can lead to arbitrage oppor- tunities where intermediaries divert subsidized goods to unintended beneficiaries via the black market. I study India's Direct Benefit Transfer policy for cooking fuel subsidies, , which altered the existing subsidy program by transferring subsidies directly to beneficiaries' bank accounts. The policy decreased subsidized fuel purchases, , indi- cating a r...
