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作者：Kluender, Raymond
作者单位：Harvard University
摘要：Pay-as-you-go contracts reduce minimum purchase requirements, which may increase market participation. This paper randomizes the introduction and price(s) of a novel pay-as-you-go contract to the California auto insurance market, where 17% of drivers are uninsured. The pay-as-you-go contract increases take-up by 10.8 p.p. (89%) and days with coverage by 4.6 days over the 3-month experiment (27%). Demand is relatively inelastic, and pay-as-you-go increases insurance coverage in part by relaxing...
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作者：Gupta, Atul; Howell, Sabrina T.; Yannelis, Constantine; Gupta, Abhinav
作者单位：University of Pennsylvania; National Bureau of Economic Research; University of Pennsylvania; National Bureau of Economic Research
摘要：Amid an aging population and a growing role for private equity (PE) in the care of older adults, this paper studies how PE ownership affects U.S. nursing homes using patient-level Medicare data. We show that PE ownership leads to a patient cohort with lower health risk. However, after instrumenting for the patient-nursing home match, we find that PE ownership increases mortality by 11%. Declines in measures of patient well-being, nurse staffing, and compliance with care standards help to expla...
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作者：Landoni, Mattia; Zeldes, Stephen P.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Boston; Columbia University; National Bureau of Economic Research
摘要：Under standard assumptions, individuals and the government are indifferent between traditional tax-deferred retirement accounts and front-loaded (Roth) accounts. Adding investment fees to this benchmark, individuals are still indifferent, but the government is not. We show that under weak conditions firms charge equal percent fees under both systems, yielding higher dollar fees under Traditional. We estimate that tax deferral increases demand for asset management services by $3.8 trillion, cos...
