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作者：Barwick, Panle Jia; Li, Shanjun; Rao, Deyu; Zahur, Nahim Bin
作者单位：University of Wisconsin System; University of Wisconsin Madison; National Bureau of Economic Research; Stanford University; National Bureau of Economic Research; Hong Kong University of Science & Technology; Queens University - Canada
摘要：This paper exploits the universe of credit- and debit-card transactions in China during 2013-2015 and provides the first nationwide analysis of the health care cost of PM2.5 for a developing country. We leverage spatial spillovers of PM2.5 from long-range transport to generate exogenous variation in local pollution, and we employ a flexible distributed lag model to capture semiparametrically the dynamic response of pollution exposure. We find significant impacts of PM2.5 on health care spendin...
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作者：Ambrose, Brent W.; Valentin, Maxence
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Cornell University
摘要：U.S. tax system allows taxpayers to deduct local taxes from their taxable incomes. Using school district referendum results, we employ a continuous treatment two-way fixed-effects framework to provide causal evidence of a positive relation between the demand for local public goods and the share of residents deducting local taxes. We find that a 1 percentage point decrease in the share of residents deducting property taxes reduces tax and bond referendum approval rates by approximately 0.97 per...
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作者：Choudhury, Prithwiraj; Makridis, Christos A.; Khanna, Tarun; Schirmann, Kyle
作者单位：University of London; London School Economics & Political Science; Arizona State University; Arizona State University-Tempe; Gallup, Inc.; Stanford University; University of Nicosia; Harvard University
摘要：This paper reports causal evidence on how the extent of hybrid work-the number of days worked from home relative to days worked from office-affects employee attitudes and performance. Workers who spent around two days in the office each week on average self-reported greater work-life balance, more job satisfaction, and lower isolation from colleagues compared to workers who spent more or fewer days in the office. Employees in the intermediate hybrid condition received no different performance ...
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作者：Ringo, Daniel
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：Does monetary policy influence who becomes a homeowner? Lower-income home buyers may be more sensitive to interest rates, at least in part because they more frequently come up against binding payment-to-income ratio constraints in credit decisions. Exploiting the timing of high-frequency observations of individual mortgage rate locks around monetary policy shocks, I find that a 1 percentage point policy-induced increase in mortgage rates lowers the presence of lower-income households in the po...
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作者：Clemens, Jeffrey; Rogers, Parker
作者单位：University of California System; University of California San Diego
摘要：We show that the demand shocks associated with the U.S. Civil War and World War I led to substantial increases in prosthetic device patenting (relative to patenting in other medical and mechanical technology classes). Through analyses of patent texts, we find that the Civil War led inventors to focus on production process improvements, while World War I did not. Further, we find that inventors emphasized dimensions of product quality that aligned with differences in buyers' preferences across ...
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作者：Rivera, Roman G.; Ba, Bocar A.
作者单位：Georgetown University; Duke University; National Bureau of Economic Research
摘要：Does police oversight increase crime? Studies examining this relationship often rely on major scandals as shocks, but the simultaneous effect of public outrage on officer behavior and crime contaminates the results. Using a framework distinguishing oversight and outrage, we identify two events that increased oversight but elicited no public reaction. We find that despite a subsequent decline in reported misconduct, these oversight increases likely did not significantly impact crime or officer ...
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作者：Barsanetti, Bruno
摘要：I examine the long-run effects of the timing of railroad construction on city sizes. I first present a stylized model that predicts that towns that are railroad end points for a longer period of time become persistently larger. I then show that, in a sample of Brazilian railroad towns, time as end point strongly predicts town size: each additional year that a town was a railroad end point in the past is associated with a town population 0.107 log points larger in 2010. Additional testable impl...
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作者：Lee, Kwok Hao; Tan, Brandon Joel
作者单位：National University of Singapore; Harvard University
摘要：We propose a quantitative spatial model featuring heterogeneous worker groups and their travel to consume nontradable goods and services. We consider the opening of the Downtown Line in Singapore, which connected regions where high-income households have residential amenities to where nontraded sectors are productive. Leveraging transit farecard data, we show that high-income workers saw large welfare gains but low-income workers gained little. Everyone enjoyed improved access to consumption o...
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作者：Antras, Pol; Fadeev, Evgenii; Fort, Teresa C.; Tintelnot, Felix
作者单位：Harvard University; National Bureau of Economic Research; Duke University
摘要：Multinational firms (MNEs) dominate trade flows, yet their foreign production decisions are often ignored in firm-level studies of exporting and importing. Using newly merged data on U.S. firms' trade and global production, we show that MNEs are more likely to trade with countries that are proximate to their affiliates. We rationalize these patterns with a new source of firm-level scale economies that arises when fixed costs to source from, or sell in, a market are shared across the MNE's plan...
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作者：Iseringhausen, Martin; Petrella, Ivan; Theodoridis, Konstantinos
作者单位：University of Turin; Collegio Carlo Alberto; Center for Economic & Policy Research (CEPR); Cardiff University
摘要：We develop a data-rich measure of expected macroeconomic skewness in the U.S. economy. Expected macroeconomic skewness is strongly procyclical, mainly reflects the cyclicality in the skewness of real variables, is highly correlated with the cross-sectional skewness of firm-level employment growth, and is distinct from financial market skewness. Revisions in expected skewness lead to business cycle fluctuations nearly indistinguishable from those induced by the main business cycle shock of Ange...
