2005

最新文章

• The central role of noise in evaluating interventions that use test scores to rank schools AI翻译
  作者：Chay, KY; McEwan, PJ; Urquiola, M
  作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; Wellesley College; Columbia University; Columbia University
  摘要：Many programs reward or penalize schools based on students' average performance. Mean reversion is a potentially serious hindrance to the evaluation of such interventions. Chile's 900 Schools Program (P-900) allocated resources based on cutoffs in schools' mean test scores. This paper shows that transitory noise in average scores and mean reversion lead conventional estimation approaches to overstate the impacts of such programs. It further shows how a regression-discontinuity design can be us...
• How do hospitals respond to price changes? AI翻译
  作者：Dafny, LS
  作者单位：Northwestern University; National Bureau of Economic Research; Northwestern University; Northwestern University
  摘要：This paper examines hospital responses to changes in diagnosis-specific prices by exploiting a 1988 policy reform that generated large price changes for 43 percent of Medicare admissions. I find hospitals responded primarily by upcoding patients to diagnosis codes with the largest price increases. This response was particularly strong among for-profit hospitals. I find little evidence hospitals increased the volume of admissions differentially for diagnoses subject to the largest price increa...
• State currencies and the transition to the US dollar: Reply - Including a new view from Canada AI翻译
  作者：Grubb, FW
  作者单位：University of Delaware
• State currencies and the transition to the US dollar: Clarifying some confusions AI翻译
  作者：Michener, RW; Wright, RE
  作者单位：University of Virginia; New York University
  摘要：Farley W. Grubb's recent papers on the early U.S. monetary system would be important contributions to the common currency area literature were not most Of their historical assertions questionable and their key assumption-that the medium of exchange can be inferred from the unit of account-dubious. We contend that after 1781 most Americans eschewed government paper money in favor of full-bodied coins and convertible bank liabilities and that, contrary to Grubb's claim, bankers did not foist the...
• Financial reform: What shakes it? What shapes it? AI翻译
  作者：Abiad, A; Mody, A
  作者单位：International Monetary Fund
  摘要：What accounts for the worldwide advance of financial reforms in the last quarter century? Using a new index of financial liberalization, we find that influential events shook the policy status quo. Balance-of-payments crises spurred reforms, but banking crises set liberalization back. Falling global interest rates strengthened reformers, while new governments went both ways. The overall trend toward liberalization, however, reflected pressures and incentives generated by initial reforms that r...
• The case for open-market purchases in a liquidity trap AI翻译
  作者：Auerbach, AJ; Obstfeld, M
  作者单位：University of California System; University of California Berkeley
  摘要：Prevalent thinking about liquidity traps suggests that the perfect substitutability of money and bonds at a zero short-term nominal interest rate renders open-market operations ineffective for achieving macroeconomic stabilization goals. We show that even were this the case, there remains a powerful argument for large-scale open market operations as a fiscal policy tool. As we also demonstrate, however, this same reasoning implies that open-market operations will be beneficial for stabilizatio...
• Does increasing women's schooling raise the schooling of the next generation? Comment AI翻译
  作者：Antonovics, KL; Goldberger, AS
  作者单位：University of California System; University of California San Diego; University of Wisconsin System; University of Wisconsin Madison
• Sunspots in the laboratory AI翻译
  作者：Duffy, J; Fisher, EO
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University System of Ohio; Ohio State University; Federal Reserve System - USA; Federal Reserve Bank - Cleveland
  摘要：We show that extrinsic or nonfundamental uncertainty influences markets in a controlled environment. This work provides the first direct evidence of sunspot equilibria. These equilibria require a common understanding of the semantics of the sunspot variable, and they appear to be sensitive to the flow of information. Sunspots always occur in a closed-book call market, but they happen only occasionally in a double auction, where inframarginal bids and offers are observable.
• Tracing the economic impact of cumulative discrimination AI翻译
  作者：Blank, RM
  作者单位：University of Michigan System; University of Michigan; National Bureau of Economic Research
• Health and wealth among the poor: India and South Africa compared AI翻译
  作者：Case, A; Deaton, A
  作者单位：Princeton University; Princeton University