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作者：Kolsrud, Jonas; Landais, Camille; Nilsson, Peter; Spinnewijn, Johannes
作者单位：University of London; London School Economics & Political Science; Stockholm University
摘要：This paper provides a simple, yet robust framework to evaluate the time profile of benefits paid during an unemployment spell. We derive sufficient-statistics formulae capturing the marginal insurance value and incentive costs of unemployment-benefits paid at different times during a spell. Our approach allows us to revisit separate arguments for inclining or declining profiles put forward in the theoretical literature and to identify welfare-improving-changes in the benefit profile that accou...
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作者：Donaldson, Dave
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：How large are the benefits of transportation infrastructure projects, and what explains these benefits? This paper uses archival data from colonial India to investigate the impact of India's vast railroad network. Guided by four results from a general equilibrium trade model, I find that railroads: (1) decreased trade costs and interregional price gaps; (2) increased interregional and international trade; (3) increased real income levels; and (4) that a sufficient statistic for the effect of r...
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作者：Persson, Petra; Rossin-Slater, Maya
作者单位：Stanford University; National Bureau of Economic Research; Research Institute of Industrial Economics (IFN)
摘要：Persson and Rossin-Slater (2018) find that prenatal exposure to family ruptures affects childhood and adult mental health, as well as infant physical health. We compare children whose relatives die within 280 days post-conception to children whose relatives die in the year after birth. Matsumoto correctly notes that defining the control group using actual birth dates can bias our estimates. Here, we redefine our control group using expected birth dates. The effects on mental health in childhoo...
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作者：Foarta, Dana
作者单位：Stanford University
摘要：This paper studies the welfare effects of a partial banking union in which cross-country transfers for bailouts are set at the supranational level, but policymakers in member countries decide the distribution of funds. This allows the self interested policymakers to extract rents in the bailout process. In equilibrium, such a banking union can actually lower the welfare of citizens in the country receiving transfers compared to the autarky case, as the receiving country must increase its share...
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作者：Jaravel, Xavier; Petkova, Neviana; Bell, Alex
作者单位：University of London; London School Economics & Political Science; United States Department of the Treasury; Harvard University
摘要：We establish the importance of team-specific capital in the typical inventor's career Using administrative tax and patent data for the population of US patent inventors from 1996 to 2012, we find that an inventor's premature death causes a large and long-lasting decline in their co-inventor's earnings and citation-weighted patents (-4 percent and 15 percent after 8 years, respectively), After ruling out firm disruption, network effects, and top-down spill-overs as main channels, we show that t...
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作者：Perri, Fabrizio; Quadrini, Vincenzo
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; University of Southern California
摘要：Macro developments leading up to the 2008 crisis displayed an unprecedented degree of international synchronization. Before the crisis, all G7 countries experienced credit growth, and, around the time of the Lehman bankruptcy, they all faced sharp and large contractions in both real and financial activity. Using a two-country model with financial frictions, we show that a global liquidity shortage induced by pessimistic self fulfilling expectations can quantitatively generate patterns like tho...
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作者：Persson, Petra; Rossin-Slater, Maya
作者单位：Stanford University; National Bureau of Economic Research; Research Institute of Industrial Economics (IFN); Stanford University; IZA Institute Labor Economics
摘要：This paper studies how in utero exposure to maternal stress from family ruptures affects later mental health. We find that prenatal exposure to the death of a maternal relative increases take-up of ADHD medications during childhood and anti-anxiety and depression medications in adulthood. Further, family ruptures during pregnancy depress birth outcomes and raise the risk of perinatal complications necessitating hospitalization. Our results suggest large welfare gains from preventing fetal stre...
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作者：Matsumoto, Brett
摘要：The empirical methodology used by Persson and Rossin-Slater (2018) to estimate the causal effect of in utero exposure to stress contains a potentially significant,flaw. They define the control group in a way that may bias their causal estimates and can lead to the finding of a significant relationship when there is none. In this note, I describe the source of the bias and suggest an alternative specification of the control group.
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作者：Markevich, Andrei; Zhuravskaya, Ekaterina
作者单位：New Economic School; Paris School of Economics
摘要：We document substantial increases in agricultural productivity, industrial output, and peasants' nutrition in Imperial Russia as a result of the abolition of serfdom in 1861. Before the emancipation, provinces where serfs constituted the majority of agricultural laborers lagged behind provinces that primarily relied on free labor. The emancipation led to a significant but partial catch up. Better incentives of peasants resulting from the cessation of ratchet effect were a likely mechanism behi...
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作者：Bils, Mark; Klenow, Peter J.; Malin, Benjamin A.
作者单位：University of Rochester; Stanford University; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：Employment and hours are more cyclical than dictated by productivity and consumption. This intratemporal labor wedge can arise from product or labor market distortions. Based on employee wages, the literature has attributed the intratemporal wedge almost entirely to labor market distortions. Because wages may be smoothed versions of labor's true cyclical price, we instead examine the self-employed and intermediate inputs, respectively. For recent decades in the United States, we find price mar...
