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作者：Ketcham, Jonathan D.; Kuminoff, Nicolai V.; Powers, Christopher A.
作者单位：Arizona State University; Arizona State University-Tempe; Arizona State University; Arizona State University-Tempe; National Bureau of Economic Research; CMS Alliance to Modernize Healthcare; Centers for Medicare & Medicaid Services; CMS Alliance to Modernize Healthcare; Centers for Medicare & Medicaid Services
摘要：Consumers' enrollment decisions in Medicare Part D call be explained by Abaluck and Gruber's (2011) model of utility maximization with psychological biases or by a neoclassical version of their model that precludes such biases. We evaluate these competing hypotheses by applying nonparametric tests of utility maximization and model validation tests to administrative data. We find that 79 percent of enrollment decisions from 2006 to 2010 satisfied basic axioms of consumer theory under the assump...
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作者：Holland, Stephen P.; Mansur, Erin T.; Muller, Nicholas Z.; Yates, Andrew J.
作者单位：University of North Carolina; University of North Carolina Greensboro; National Bureau of Economic Research; Dartmouth College; Middlebury College; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：We combine a theoretical discrete-choice model of vehicle purchases, an econometric analysis of electricity emissions, and the AP2 air pollution model to estimate the geographic variation in the environmental benefits from driving electric vehicles. The second-best electric vehicle purchase subsidy ranges from $2,785 in California to -$4,964 in North. Dakota, with, a mean of -$1,095. Ninety percent of local environmental externalities from driving electric vehicles in one state are exported to...
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作者：Abaluck, Jason; Agha, Leila; Kabrhel, Chris; Raja, Ali; Venkatesh, Arjun
作者单位：Yale University; National Bureau of Economic Research; Dartmouth College; Harvard University; Harvard University Medical Affiliates; Massachusetts General Hospital; Harvard University; Harvard University; Harvard University Medical Affiliates; Massachusetts General Hospital; Yale University; Yale New Haven Hospital
摘要：A large body of research has investigated whether physicians overuse care. There is less evidence on whether, fora fixed level of spending, doctors allocate resources to patients with the highest expected returns. We assess both sources of inefficiency, exploiting variation in rates of negative imaging tests for pulmonaty embolism. We document enormous across-doctor heterogeneity in testing conditional on patient population, which explains the negative relationship between physicians' testing ...
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作者：Bems, Rudolfs; di Giovanni, Julian
作者单位：University of Tokyo; Pompeu Fabra University; ICREA; Barcelona School of Economics; Centre de Recerca en Economia Internacional (CREI); Center for Economic & Policy Research (CEPR)
摘要：This paper shows that an income effect can drive expenditure switching between domestic and imported goods. We use a unique Latvian scanner-level dataset, covering the 2008-2009 crisis, to document several empirical findings. First, expenditure switching accounted for one-third of the fall in imports, and took place within narrowly defined product groups. Second, there was no corresponding within group change in relative prices. Third, consumers substituted from expensive imports to cheaper do...
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作者：Green, Brett; Taylor, Curtis R.
作者单位：University of California System; University of California Berkeley; Duke University
摘要：We study the optimal incentive scheme fora multistage project in which the agent privately observes intermediate progress. The optimal contract involves a soft deadline wherein the principal guarantees funding up to a certain date if the agent reports progress at that date, then the principal gives him a relatively short hard deadline to complete the project-if progress is not reported at that date, then a probationary phase begins in which the project is randomly terminated at a constant rate...
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作者：Aghion, Philippe; Akcigit, Ufuk; Deaton, Angus; Roulet, Alexandra
作者单位：Universite PSL; College de France; University of London; London School Economics & Political Science; National Bureau of Economic Research; Canadian Institute for Advanced Research (CIFAR); University of Chicago; Princeton University; Harvard University
摘要：In this paper we analyze the relationship between turnover-driven growth and subjective well-being. Our model of innovation-led growth and unemployment predicts that: (i) the effect of creative destruction on expected individual welfare should be unambiguously positive if we control for unemployment, less so if we do not; (ii) job creation has a positive and job destruction has a negative impact on well-being; (iii) job destruction has a less negative impact in areas with more generous unemplo...
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作者：Gomes, Joao; Jermann, Urban; Schmid, Lukas
作者单位：University of Pennsylvania; National Bureau of Economic Research; Duke University; Center for Economic & Policy Research (CEPR)
摘要：We develop a tractable general equilibrium model that captures the interplay between nominal long-term corporate debt, inflation, and real aggregates. We show that unanticipated inflation changes the real burden of debt and, more significantly, leads to a debt overhang that distorts future investment and production decisions. For these effects to be both large and very persistent, it is essential that debt maturity exceeds one period. We also show that interest rate rules can help stabilize ou...
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作者：Bianchi, Javier
摘要：We develop a quantitative equilibrium model of financial crises to assess the interaction between ex post interventions in credit markets and the buildup of risk ex ante. During a systemic crisis, bailouts relax balance sheet constraints and mitigate the severity of the recession. Ex ante, the anticipation of such bailouts leads to an increase in risk-taking, making the economy more vulnerable to a financial crisis. We find that moral hazard effects are limited if bailouts are systemic and bro...
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作者：Gali, Jordi; Monacelli, Tommaso
作者单位：Pompeu Fabra University; Centre de Recerca en Economia Internacional (CREI); Barcelona School of Economics; Bocconi University; Bocconi University
摘要：We study the gains from increased wage flexibility using a small open economy model with staggered price and wage setting. Two results stand out: (i) the effectiveness of labor cost reductions as a means to stimulate employment is much smaller in a currency union, and (ii) an increase in wage flexibility often reduces welfare, more likely so in an economy that is part of a currency union or with an exchange-rate-focused monetary policy. Our findings call into question the common view that wage...
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作者：Das, Jishnu; Holla, Alaka; Mohpal, Aakash; Muralidharan, Karthik
作者单位：The World Bank; University of Michigan System; University of Michigan; University of California System; University of California San Diego
摘要：We present unique audit-study evidence on health care quality in rural India, and find that most private providers lacked medical qualifications, but completed more checklist items than public providers and recommended correct treatments equally often. Among doctors with public and private practices, all quality metrics were higher in their private clinics. Market prices are positively correlated with checklist completion and correct treatment, but also with unnecessary treatments. However, pu...
