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作者：Bernheim, B. Douglas; Madsen, Erik
作者单位：Stanford University; National Bureau of Economic Research; New York University
摘要：Although economists have made substantial progress toward formulating theories of collusion in industrial cartels that account for a variety of fact patterns, important puzzles remain. Standard models of repeated interaction formalize the observation that cartels keep participants in line through the threat of punishment, but they fail to explain two important factual observations: first, apparently deliberate cheating actually occurs; second, it frequently goes unpunished even when it is dete...
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作者：Martin, Leslie A.; Nataraj, Shanthi; Harrison, Ann E.
作者单位：University of Melbourne; RAND Corporation; University of Pennsylvania; National Bureau of Economic Research
摘要：An ongoing debate in employment policy is whether promoting small and medium enterprises creates jobs. We use the elimination of small-scale industry (SSI) promotion in India to address this question. For 60 years, SSI promotion in India focused on reserving certain products for manufacture by small and medium enterprises. We identify the consequences for employment growth, investment, output, productivity, and wages of dismantling India's SSI reservations. We exploit variation in the timing o...
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作者：Dahl, Gordon B.; Lochner, Lance
作者单位：University of California System; University of California San Diego; Western University (University of Western Ontario)
摘要：Dahl and Lochner (2012) provides some of the first causal evidence of the effects of family income on child achievement using changes in the Earned Income Tax Credit. Unfortunately, a coding error in the creation of total family income affects the first stage estimates and inflates the instrumental variable (IV) estimates. Importantly, it does not affect the reduced- form estimates or alter statistical significance of the IV estimates. This response shows that correcting this error does not al...
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作者：Fang, Hanming; Gong, Qing
作者单位：University of Pennsylvania; University of Pennsylvania; National Bureau of Economic Research
摘要：We propose a novel and easy-to-implement approach to detect potential overbilling based on the hours worked implied by the service codes which physicians submit to Medicare. Using the Medicare Part B Fee-for-Service (FFS) Physician Utilization and Payment Data in 2012 and 2013 released by the Centers for Medicare and Medicaid Services, we construct estimates for physicians' hours spent on Medicare beneficiaries. We find that about 2,300 physicians, representing about 3 percent of those with 20...
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作者：Eden, Maya
作者单位：The World Bank
摘要：Decreasing returns at the macro level are an outcome of efficiency at the micro level. When inputs are scarce, an efficient economy carries out only the most productive projects; when inputs are abundant, the economy implements less productive projects as well. This link between decreasing returns and efficiency suggests that mis-allocation can reduce the extent of aggregate decreasing returns. I formalize this connection and establish two main results: (i) mis-allocation amplifies the volatil...
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作者：Nekoei, Arash; Weber, Andrea
作者单位：Stockholm University; Vienna University of Economics & Business
摘要：Contrary to standard search models predictions, past studies have not found a positive effect of unemployment insurance (UI) on reemployment wages. We estimate a positive UI wage effect exploiting an age-based regression discontinuity design in Austria. A search model incorporating duration dependence predicts two countervailing forces: UI induces workers to seek higher-wage jobs, but reduces wages by lengthening unemployment. Matching-function heterogeneity plausibly generates a negative rela...
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作者：Cornelissen, Thomas; Dustmann, Christian; Schonberg, Uta
作者单位：University of York - UK; University of London; University College London
摘要：Existing evidence on peer effects in the productivity of coworkers stems from either laboratory experiments or real-world studies referring to a specific firm or occupation. In this paper, we aim at providing more generalizable results by investigating a large local labor market, with a focus on peer effects in wages rather than productivity. Our estimation strategy-which links the average permanent productivity of workers' peers to their wages-circumvents the reflection problem and accounts f...
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作者：Hall, Robert E.
作者单位：Stanford University
摘要：Unemployment is high when financial discounts are high. In recessions, the stock market falls and all types of investment fall, including employers' investment in job creation. The discount rate implicit in the stock market rises, and discounts for other claims on business income also rise. A higher discount implies a lower present value of the benefit of a new hire to an employer. According to the leading view of unemployment- the Diamond-Mortensen-Pissarides model-when the incentive for job ...
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作者：Fisman, Raymond; Paravisini, Daniel; Vig, Vikrant
作者单位：Boston University; National Bureau of Economic Research; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; University of London; London Business School; Centre for Economic Policy Research - UK
摘要：We present evidence that cultural proximity (shared codes, beliefs, ethnicity) between lenders and borrowers increases the quantity of credit and reduces default. We identify in-group lending using dyadic data on religion and caste for officers and borrowers from an Indian bank, and a rotation policy that induces exogenous matching between them. Having an in-group officer increases credit access and loan size dispersion, reduces collateral requirements, and induces better repayment even after ...
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作者：Knoll, Katharina; Schularick, Moritz; Steger, Thomas
作者单位：University of Bonn; Leipzig University
摘要：How have house prices evolved over the long run? This paper presents annual house prices for 14 advanced economies since 1870. We show that real house prices stayed constant from the nineteenth to the mid-twentieth century, but rose strongly and with substantial cross-country variation in the second half of the twentieth century. Land prices, not replacement costs, are the key to understanding the trajectory of house prices. Rising land prices explain about 80 percent of the global house price...
