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作者：Carneiro, Pedro; Kraftman, Lucy; Mason, Giacomo; Moore, Lucie; Rasul, Imran; Scott, Molly
作者单位：University of London; University College London
摘要：We evaluate an intervention targeting early life nutrition and well-being for households in extreme poverty in Northern Nigeria. The intervention leads to large and sustained improvements in children's anthropometric and health outcomes, including an 8 percent reduction in stunting 4 years, post-intervention. These impacts are partly driven by information-related channels. However, the certain and substantial flow of cash transfers is also key. They induce positive labor supply responses among...
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作者：Mertens, Thomas M.; Williams, John C.
作者单位：Federal Reserve System - USA; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：This paper analyzes the effects of the lower bound for interest rates on the distributions of inflation and interest rates. In a New Keynesian model with a lower bound, two equilibria emerge: policy is mostly unconstrained in the target equilibrium, whereas policy is mostly constrained in the liquidity trap equilibrium. Using options data on interest rates and inflation, we find forecast densities consistent with the target equilibrium and find no evidence in favor of the liquidity trap equili...
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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：Finkelstein, Amy; Gentzkow, Matthew; Williams, Heidi
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Stanford University
摘要：We estimate the effect of current location on elderly mortality by analyzing outcomes of movers in the Medicare population. We control for movers' origin locations as well as a rich vector of pre-move health measures. We also develop a novel strategy to adjust for remaining unobservables, using the correlation of residual mortality with movers' origins to gauge the importance of omitted variables. We estimate substantial effects of current location. Moving from a tenth to a ninetieth percentil...
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作者：Thakral, Neil; To, Linh T.
作者单位：Brown University; Boston University
摘要：This paper provides field evidence on how reference points adjust, a degree of freedom in reference-dependence models. Examining this in the context of cabdrivers' daily labor-supply behavior, we ask how the within-day timing of earnings affects decisions. Drivers work less in response to higher accumulated income, with a strong effect for recent earnings that gradually diminishes for earlier earnings. We estimate a structural model in which drivers work toward a reference point that adjusts t...
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作者：Gottlieb, Daniel; Smetters, Kent
作者单位：University of London; London School Economics & Political Science; University of Pennsylvania
摘要：Most individual life insurance policies lapse, with lapsers cross-subsidizing non-lapsers. We show that policies and lapse patterns predicted by standard rational expectations models are the opposite of those observed empirically. We propose two behavioral models consistent with the evidence: (i) consumers forget to pay premiums and (ii) consumers understate future liquidity needs. We conduct two surveys with a large insurer. New buyers believe that their own lapse probabilities are small comp...
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作者：Waldinger, Daniel
作者单位：New York University
摘要：Public housing benefits are rationed through wait lists. Theoretical work on public housing allocation has debated how much choice applicants should have over units, identifying a possible trade-off between efficiency and redistribution. This paper empirically establishes the existence and economic importance of this trade-off using wait list data from Cambridge, Massachusetts. I estimate a model of public housing preferences in a setting where heterogeneous apartments are rationed through wai...
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作者：Attar, Andrea; Mariotti, Thomas; Salanie, Francois
作者单位：University of Rome Tor Vergata; Leibniz Association; Ifo Institut; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Centre National de la Recherche Scientifique (CNRS); INRAE; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：This paper studies competitive allocations under adverse selection. We first provide a general necessary and sufficient condition for entry on an inactive market to be unprofitable. We then use this result to characterize, for an active market, a unique budget-balanced allocation implemented by a market tariff making additional trades with an entrant unprofitable. Motivated by the recursive structure of this allocation, we finally show that it emerges as the essentially unique equilibrium outc...
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作者：Fanning, Jack
作者单位：Brown University
摘要：Can an uninformed mediator improve outcomes in a dynamic reputational bargaining model? I show that a simple communication protocol used by professional mediators, of announcing an agreement only if both parties privately accept its terms, can increase the payoffs of rational bargainers, but only if communication is noisy: the mediator must sometimes fail to suggest a deal even when both bargainers accept it.
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作者：Heidhues, Paul; Strack, Philipp
作者单位：Heinrich Heine University Dusseldorf; Yale University
摘要：A (partially naive) quasi-hyperbolic discounter repeatedly chooses whether to complete a task. Her net benefits of task completion are drawn independently between periods from a time-invariant distribution. We show that the probability of completing the task conditional on not having done so earlier increases towards the deadline. Conversely, we establish nonidentifiability by proving that for any time-preference parameters and any dataset with such (weakly increasing) task-completion probabil...
