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作者：Muralidharan, Karthik; Singh, Abhijeet; Ganimian, Alejandro J.
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; Stockholm School of Economics; New York University
摘要：We study the impact of a personalized technology-aided after-school instruction program in middle-school grades in urban India using a lottery that provided winners with free access to the program. Lottery winners scored 0.370 sigma higher in math and 0.23 sigma higher in Hindi over just a 4.5-month period. IV estimates suggest that attending the program, for 90 days would increase math and Hindi test scores by 0.6 sigma and 0.390 sigma respectively. We find similar absolute test score gains f...
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作者：Adrian, Tobias; Boyarchenko, Nina; Giannone, Domenico
作者单位：International Monetary Fund; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：We study the conditional distribution of GDP growth as a function of economic and financial conditions. Deteriorating financial conditions are associated with an increase in the conditional volatility and a decline in the conditional mean of GDP growth, leading the lower (pantiles of GDP growth to vary with, financial conditions and the upper (pantiles' to he stable over time. Upside risks to GDP growth are low in most periods while downside risks increase as financial conditions become tighte...
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作者：Carvalho, Vasco M.; Grassi, Basile
作者单位：University of Cambridge; Centre for Economic Policy Research - UK; Alan Turing Institute; Bocconi University; Bocconi University
摘要：Do large firm dynamics drive the business cycle? We answer this question by developing a quantitative theory of aggregate fluctuations caused by firm-level disturbances alone. We show that a standard heterogeneous firm dynamics setup already contains in it a theory of the business cycle, without appealing to aggregate shocks. We offer an analytical characterization of the law of motion of the aggregate state in this class of models, the firm size distribution, and show that aggregate output an...
