The American Economic Review

最新文章

• Monitoring Corruptible Politicians AI翻译
  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...
• The Long-Run Effects of the Scramble for Africa AI翻译
  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...
• Too-Systemic-to-Fail: What Option Markets Imply about Sector-Wide Government Guarantees AI翻译
  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...
• On the Optimal Inflation Rate AI翻译
  作者：Brunnermeier, Markus K.; Sannikov, Yuliy
  作者单位：Princeton University
• Perspectives on The Rise and Fall of American Growth AI翻译
  作者：Gordon, Robert J.
  作者单位：Northwestern University
• Long-Run Impacts of Childhood Access to the Safety Net AI翻译
  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...
• A Balls-and-Bins Model of Trade: Comment AI翻译
  作者：Blum, Bernardo S.; Claro, Sebastian; Horstmann, Ignatius J.
  作者单位：University of Toronto; Central Bank of Chile; Pontificia Universidad Catolica de Chile
  摘要：We show that the Armenter and Koren model's firm-product-country results rely on the assumption that export shipment size is independent of firm size, and this assumption is contradicted by the data. When actual shipment sizes are used in the balls-and-bins model, it cannot reproduce the data on single product/single country exporters. Beyond just showing that the shipment size assumption matters to balls-and-bins outcomes, our results highlight the important fact that shipment size is an econ...
• Can Tracking Raise the Test Scores of High-Ability Minority Students? AI翻译
  作者：Card, David; Giuliano, Laura
  作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; University of Miami
  摘要：We evaluate a tracking program in a large urban district where schools with at least one gifted fourth grader create a separate gifted/high achiever classroom. Most seats are filled by non-gifted high achievers, ranked by previous-year test scores. We study the program's effects on the high achievers using (i) a rank-based regression discontinuity design, and (ii) a between-school/cohort analysis. We find significant effects that are concentrated among black and Hispanic participants. Minoriti...
• Ostracism and Forgiveness AI翻译
  作者：Ali, S. Nageeb; Miller, David A.
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of Michigan System; University of Michigan
  摘要：Many communities rely upon ostracism to enforce cooperation: if an individual shirks in one relationship, her innocent neighbors share information about her guilt in order to shun her, while continuing to cooperate among themselves. However, a strategic victim may herself prefer to shirk, rather than report her victimization truthfully. If guilty players are to be permanently ostracized, then such deviations are so tempting that cooperation in any relationship is bounded by what the partners c...
• What Explains the Gender Gap in College Track Dropout? Experimental and Administrative Evidence AI翻译
  作者：Almas, Ingvild; Cappelen, Alexander W.; Salvanes, Kjell G.; Sorensen, Erik O.; Tungodden, Bertil
  作者单位：Stockholm University; Norwegian School of Economics (NHH)