-
作者：Williamson, OE
作者单位：University of California System; University of California Berkeley
-
作者：Soares, RR
作者单位：University System of Maryland; University of Maryland College Park
摘要：This paper develops a model where reductions in mortality are the main force behind economic development. The model generates a pattern of changes similar to the demographic transition, where gains in life expectancy at birth are followed by reductions infertility and increases in the rate of human capital accumulation. The onset of the transition is characterized by a critical level of life expectancy at birth, which marks the movement of the economy from a Malthusian equilibrium to an equili...
-
作者：Jefferson, PN
作者单位：Swarthmore College
-
作者：Aragones, E; Gilboa, I; Postlewaite, A; Schmeidler, D
摘要：People may be surprised to notice certain regularities that hold in existing knowledge they have had for some time. That is, they may learn without getting new factual information. We argue that this can be partly explained by computational complexity. We show that, given a knowledge base, finding a small set of variables that obtain a certain value of R-2 is computationally hard, in the sense that this term is used in computer science. We discuss some of the implications of this result and of...
-
作者：Ashcraft, AB
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York
-
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...
-
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...
-
作者：Grubb, FW
作者单位：University of Delaware
-
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...
-
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...
