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作者：Ager, Philipp; Boustan, Leah; Eriksson, Katherine
作者单位：University of Mannheim; Center for Economic & Policy Research (CEPR); Princeton University; National Bureau of Economic Research; University of California System; University of California Davis
摘要：The nullification of slave wealth after the US Civil War (1861-1865) was one of the largest episodes of wealth compression in history. We document that White Southern households that owned more slaves in 1860 lost substantially more wealth by 1870, relative to Southern households that had been equally wealthy before the war. Yet, their sons almost entirely recovered from this wealth shock by 1900, and their grandsons completely converged by 1940. Marriage networks and connections to other elit...
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作者：Chen, Zhao; Liu, Zhikuo; Serrato, Juan Carlos Suarez; Xu, Daniel Yi
作者单位：Fudan University; Duke University; National Bureau of Economic Research
摘要：We study a Chinese policy that awards substantial tax cuts to firms with R&D investment over a threshold or notch. -Quasi- experimental variation and administrative tax data show a significant increase in reported R&D that is partly driven by firms relabeling expenses as R&D. Structural estimates show relabeling accounts for 24.2 percent of reported R&D and that doubling R&D would increase productivity by 9 percent. Policy simulations show that firm selection and relabeling determine the -cost...
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作者：Gupta, Atul
作者单位：University of Pennsylvania; University of Pennsylvania
摘要：US policy increasingly ties payments for providers to performance on quality measures, though little empirical evidence guides the design of such incentives. I deploy administrative data to study a large federal program that penalizes hospitals with high readmissions rates. Using policy-driven variation in the penalty incentive across hospitals for identification, I find that hospital responses to the penalty account for two-thirds of the observed decrease in readmissions over this period, as ...
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作者：Eguia, Jon X.; Xefteris, Dimitrios
作者单位：Michigan State University; University of Cyprus
摘要：Vote-buying mechanisms allow agents to express any level of support for their preferred alternative at an increasing cost. Focusing on large societies with wealth inequality, we prove that the family of binary social choice rules implemented by well-behaved vote-buying mechanisms is indexed by a single parameter, which determines the importance assigned to the agents' willingness to pay to affect outcomes and to the number of supporters for each alternative. This parameter depends solely on th...
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作者：Goodman-Bacon, Andrew
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：This paper estimates the long-run effects of childhood Medicaid eligibility on adult health and economic outcomes using the program's original introduction (1966-1970) and its mandated coverage of welfare recipients. The design compares cohorts born in different years relative to Medicaid implementation, in states with different preexisting welfare-based eligibility. Early childhood Medicaid eligibility reduces mortality and disability, increases employment, and reduces receipt of disability t...
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作者：Gross, Tal; Kluender, Raymond; Liu, Feng; Notowidigdo, Matthew J.; Wang, Jialan
作者单位：Boston University; Harvard University; University of Chicago; University of Illinois System; University of Illinois Urbana-Champaign
摘要：A more generous consumer bankruptcy system provides greater insurance against financial risks but may also raise the cost of credit. We study this trade-off using the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which increased the costs of filing for bankruptcy. We identify the effects of BAPCPA on borrowing costs using variation in the effects of the reform across credit scores. We find that a one-percentage-point reduction in bankruptcy filing risk decreased credit...
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作者：Giglio, Stefano; Maggiori, Matteo; Stroebel, Johannes; Utkus, Stephen
作者单位：Yale University; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); Stanford University; New York University
摘要：We study a newly designed survey administered to a large panel of wealthy retail investors. The survey elicits beliefs that are important for macroeconomics and finance, and matches respondents with administrative data on their portfolio composition, their trading activity, and their-login behavior. We establish five facts in these data. (i) Beliefs are reflected in portfolio allocations. The sensitivity of portfolios to beliefs is small on average, but varies significantly with investor wealt...
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作者：Dynarski, Susan; Libassi, C. J.; Michelmore, Katherine; Owen, Stephanie
作者单位：University of Michigan System; University of Michigan; National Bureau of Economic Research; Columbia University; Columbia University Teachers College; Syracuse University; Colby College
摘要：High-achieving, low-income students attend selective colleges at far lower rates than upper-income students with similar achievement. Behavioral biases, intensified by complexity and uncertainty in the admissions and aid process, may explain this gap. In a large-scale experiment we test an early commitment of free tuition at a flagship university. The intervention did not increase aid: rather, students were guaranteed before application the same grant aid that they would qualify for in expecta...
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作者：Arkhangelsky, Dmitry; Athey, Susan; Hirshberg, David A.; Imbens, Guido W.; Wager, Stefan
作者单位：Stanford University; National Bureau of Economic Research; Emory University; Stanford University; Stanford University
摘要：We present a new estimator for causal effects with panel data that builds on insights behind the widely used difference-in-differences and synthetic control methods. Relative to these methods we find, both theoretically and empirically, that this synthetic difference-in-differences estimator has desirable robustness properties, and that it performs well in settings where the conventional estimators are commonly used in practice. We study the asymptotic behavior of the estimator when the system...
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作者：Banerjee, Abhijit; Finkelstein, Amy; Hanna, Rema; Olken, Benjamin A.; Ornaghi, Arianna; Sumarto, Sudarno
作者单位：Massachusetts Institute of Technology (MIT); Harvard University; University of Warwick
摘要：To investigate barriers to universal health insurance in developing countries, we designed a randomized experiment involving about 6,000 households in Indonesia who are subject to a government health insurance program with a weakly enforced mandate. Time-limited subsidies increased enrollment and attracted lower-cost enrollees, in part by reducing the strategic timing of enrollment to correspond with health needs. Registration assistance also increased enrollment, but increased attempted enrol...
