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作者：Ang, Desmond
作者单位：Harvard University
摘要：This paper documents the impact of popular media on racial hate by examining the first American blockbuster: 1915's The Birth of a Nation, a fictional portrayal of the KKK's founding rife with rac-ist stereotypes. Exploiting the film's five-year road show, I find a sharp spike in lynchings and race riots coinciding with its arrival in a county. Instrumenting for road show destinations using the location of theaters prior to the movie's release, I show that the film significantly increased loca...
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作者：Romer, Christina D.; Romer, David H.
作者单位：University of California System; University of California Berkeley
摘要：The narrative approach to macroeconomic identification uses qual-itative sources, such as newspapers or government records, to pro-vide information that can help establish causal relationships. This paper discusses the requirements for rigorous narrative analysis using fresh research on the impact of monetary policy as the focal application. We read the historical Minutes and Transcripts of Federal Reserve policymaking meetings to identify significant con-tractionary and expansionary changes i...
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作者：Esposito, Elena; Rotesi, Tiziano; Saia, Alessandro; Thoenig, Mathias
作者单位：University of Turin; Collegio Carlo Alberto; Centre for Economic Policy Research - UK; University of Lausanne; University of Bologna; University of Oxford
摘要：We study how the spread of the Lost Cause narrative-a revisionist and racist retelling of the US Civil War-shifted opinions and behaviors toward national reunification and racial discrimination against African Americans. Looking at screenings of The Birth of a Nation, a blockbuster movie that greatly popularized the Lost Cause after 1915, we find that the film shifted the public discourse toward a more patriotic and less divisive language, increased military enlistment, and fostered cultural c...
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作者：Caunedo, Julieta; Jaume, David; Keller, Elisa
作者单位：University of Toronto; Bank of Mexico; University of Exeter
摘要：We study differences in exposure to factor-biased technical change among occupations by providing the first measures of capital -em-bodied technical change (CETC) and of the elasticity of substitution between capital and labor at the occupational level. We document siz-able occupational heterogeneity in both measures, but quantitatively, it is the heterogeneity in factor substitutability that fuels workers' exposure to CETC. In a general equilibrium model of worker sorting across occupations, ...
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作者：Blattner, Laura; Farinha, Luisa; Rebelo, Francisca
作者单位：Stanford University; Banco de Portugal; Boston College
摘要：We provide evidence that banks distort the composition of credit sup-ply in order to comply with ratio-based capital requirements in times of economic distress. An unexpected intervention by the European Banking Authority provides a natural experiment to study how banks respond to falling below minimum required capital ratios during an economic downturn. We show that affected banks respond by cut-ting lending but also by reallocating credit to distressed firms with underreported loan losses. W...
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作者：Ngangoue, M. Kathleen; Schotter, Andrew
作者单位：New York University
摘要：This paper presents a puzzle in the behavior of experimental subjects in what we call common-probability auctions. In common-value auc-tions, uncertainty is defined over values, while in common-probability auctions, uncertainty is defined over probabilities. We find that in contrast to the substantial overbidding found in common-value auc-tions, bidding in strategically equivalent common-probability auc-tions is consistent with Nash equilibrium. To explain our results, we run treatments to ide...
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作者：Gaynor, Martin; Mehta, Nirav; Richards-Shubik, Seth
作者单位：Carnegie Mellon University; National Bureau of Economic Research; Western University (University of Western Ontario); Lehigh University
摘要：We study health-care provider agency and optimal payments, consid-ering an expensive medication for dialysis patients. Using Medicare claims data we estimate a structural model of treatment decisions, in which providers differ in their altruism and marginal costs, and this heterogeneity is unobservable to the government. In a novel applica-tion of nonlinear pricing methods, we empirically characterize the optimal contracts in this environment. The optimal contracts eliminate medically excessiv...
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作者：Bekant, Cherry
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作者：Lopomo, Giuseppe; Persico, Nicola; Villa, Alessandro T.
作者单位：Duke University; Northwestern University; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：Adverse selection in procurement arises when low-cost bidders are also low-quality suppliers. We propose a mechanism called LoLA (lowball lottery auction) which, under some conditions, maximizes any combination of buyer's and social surplus, subject to incentive compatibility, in the presence of adverse selection. The LoLA features a floor price, and a reserve price. The LoLA has a dominant strategy equilibrium that, under mild conditions, is unique. In a counterfac-tual analysis of Italian go...
