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作者：Davila, Alberto; Mora, Marie T.
作者单位：University of Texas System; University of Texas Rio Grande Valley
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作者：Shapiro, Carl
作者单位：University of California System; University of California Berkeley
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作者：Tumen, Semih
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作者：De Nardi, Mariacristina; French, Eric; Jones, John Bailey
作者单位：University of London; University College London; Federal Reserve System - USA; Federal Reserve Bank - Chicago; National Bureau of Economic Research; Centre for Economic Policy Research - UK; State University of New York (SUNY) System; University at Albany, SUNY
摘要：The old age provisions of the Medicaid program were designed to insure retirees against medical expenses. We estimate a structural model of savings and medical spending and use it to compute the distribution of lifetime Medicaid transfers and Medicaid valuations across currently single retirees. Compensating variation calculations indicate that current retirees value Medicaid insurance at more than its actuarial cost, but that most would value an expansion of the current Medicaid program at le...
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作者：Bobonis, Gustavo J.; Fuertes, Luis R. Camara; Schwabe, Rainer
作者单位：University of Toronto; University of Puerto Rico; University of Puerto Rico Rio Piedras; Cornerstone Research
摘要：Does monitoring corrupt activities induce a sustained reduction in corruption? Using longitudinal data on audits of municipal governments in Puerto Rico, we show corruption is considerably lower in municipalities with timely audits-before elections. However, these municipalities do not exhibit decreased levels of corruption in subsequent audits, even while mayors in these benefit from higher reelection rates. Our results suggest that audits enable voters to select responsive but corruptible po...
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作者：Michalopoulos, Stelios; Papaioannou, Elias
作者单位：Brown University; National Bureau of Economic Research; Centre for Economic Policy Research - UK; University of London; London Business School
摘要：We explore the consequences of ethnic partitioning, a neglected aspect of the Scramble for Africa, and uncover the following. First, apart from the land mass and water bodies, split and non-split groups are similar across several dimensions. Second, the incidence, severity, and duration of political violence are all higher for partitioned homelands which also experience frequent military interventions from neighboring countries. Third, split groups are often entangled in a vicious circle of go...
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作者：Kelly, Bryan; Lustig, Hanno; Van Nieuwerburgh, Stijn
作者单位：University of Chicago; Stanford University; New York University; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR)
摘要：We examine the pricing of financial crash insurance during the 2007-2009 financial crisis in US option markets, and we show that a large amount of aggregate tail risk is missing from the cost of financial sector crash insurance during the crisis. The difference in costs between out-of-the-money put options for individual banks and puts on the financial sector index increases four-fold from its precrisis 2003-2007 level. We provide evidence that a collective government guarantee for the financi...
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作者：Brunnermeier, Markus K.; Sannikov, Yuliy
作者单位：Princeton University
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作者：Gordon, Robert J.
作者单位：Northwestern University
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作者：Hoynes, Hilary; Schanzenbach, Diane Whitmore; Almond, Douglas
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; Northwestern University; Columbia University
摘要：We examine the impact of a positive and policy-driven change in economic resources available in utero and during childhood. We focus on the introduction of the Food Stamp Program, which was rolled out across counties between 1961 and 1975. We use the Panel Study of Income Dynamics to assemble unique data linking family background and county of residence in early childhood to adult health and economic outcomes. Our findings indicate access to food stamps in childhood leads to a significant redu...
