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作者：Shepard, Mark
作者单位：Harvard University; National Bureau of Economic Research
摘要：Health insurers increasingly compete on their networks of medical providers. Using data from Massachusetts's insurance exchange, I find substantial adverse selection against plans covering the most prestigious and expensive star hospitals. I highlight a theoretically distinct selection channel: consumers loyal to star hospitals incur high spending, conditional on their medical state, because they use these hospitals' expensive care. This implies heterogeneity in consumers' incremental costs of...
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作者：Balke, Neele; Lamadon, Thibaut
作者单位：University of Chicago; National Bureau of Economic Research
摘要：This paper examines how employer- and worker-specific productivity shocks transmit to earnings and employment. We develop an equilibrium search model and characterize the optimal contract offered by firms. Risk-neutral firms provide partial insurance against shocks to risk-averse workers and offer contingent contracts, where payments are backloaded in good times and frontloaded in bad times. The model is estimated on matched employer-employee data from Sweden. Firms absorb persistent worker an...
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作者：Carranza, Eliana; Garlick, Robert; Orkin, Kate; Rankin, Neil
作者单位：The World Bank; Duke University; University of Oxford; Stellenbosch University
摘要：We assess South African workseekers' skills and disseminate the assessment results to explore how limited information affects firm and workseeker behavior. Giving workseekers assessment results that they can credibly share with firms increases workseekers' employ-ment and earnings and better aligns their skills, beliefs and search strategies. Giving workseekers assessment results that they cannot easily share with firms has similar effects on beliefs and search, but smaller effects on employme...
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作者：Baqaee, David; Farhi, Emmanuel
作者单位：University of California System; University of California Los Angeles
摘要：We study supply and demand shocks in a disaggregated model with multiple sectors, multiple factors, input-output linkages, downward nominal wage rigidities, credit-constraints, and a zero lower bound. We use the model to understand how the COVID-19 crisis, an omnibus supply and demand shock, affects output, unemployment, and inflation, and leads to the coexistence of tight and slack labor markets. We show that negative sectoral supply shocks are stagflationary, whereas negative demand shocks a...
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作者：Cantoni, Enrico; Pons, Vincent
作者单位：University of Bologna; Harvard University; National Bureau of Economic Research; Centre for Economic Policy Research - UK
摘要：We measure the overall influence of contextual versus individual factors (e.g., voting rules and media as opposed to race and education) on voter behavior, and explore underlying mechanisms. Using a US-wide voter-level panel, 2008-2018, we examine voters who relocate across state and county lines, tracking changes in registration, turnout, and party affiliation to estimate location and individual fixed effects in a value-added model. Location explains 37 percent of the cross-state variation in...
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作者：Jovanovic, Boyan; Tsyrennikov, Viktor
摘要：In a model with multiple Pareto-ranked equilibria, we show that the set of equilibria shrinks if we allow trade in assets that pay based on the realization of a sunspot acting as an equilibrium-selection device. When the probability of a low-output outcome is high, the desire to insure against it leads the poor to promise large transfers to the rich in the high-output state. The rich then lose the incentive to exert the effort needed to sustain the high output. Thus the opening of financial ma...
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作者：Berkouwer, Susanna B.; Dean, Joshua T.
作者单位：University of Pennsylvania; University of Chicago
摘要：We study an energy efficient charcoal cookstove in an experiment with 1,000 households in Nairobi. We estimate a 39 percent reduction in charcoal spending, which matches engineering estimates, generating a 295 percent annual return. Despite fuel savings of $237 over the stove's two-year lifespan-and $295 in emissions reductions-households are only willing to pay $12. Drawing attention to energy savings does not increase demand. However, a loan more than doubles willingness to pay: credit const...
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作者：Bold, Tessa; Ghisolfi, Selene; Nsonzi, Frances; Svensson, Jakob
作者单位：Stockholm University; Catholic University of the Sacred Heart; Makerere University
摘要：Smallholder farming in many developing countries is characterized by low productivity and low-quality output. Low quality limits the price farmers can command and their potential income. We conduct a series of experiments among maize farmers in Uganda to shed light on the barriers to quality upgrading and to study its potential. We find that the causal return to quality is zero. Providing access to a market where quality is paid a market premium led to an increase in farm productivity and inco...
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作者：Card, David
作者单位：University of California System; University of California Berkeley
摘要：I briefly review the emergence of design-based research methods in labor economics in the 1980s and early 1990s. These methods were seen as a partial solution to the problems of credible inference identi-fied by Ashenfelter (1974), Leamer (1978), Hendry (1980), and oth-ers. Designed-based studies typically use a simplified one-equation model of the outcome of interest-in contrast to model-based studies that specify a data generating process for all factors determining the outcome. I discuss s...
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作者：Eichenbaum, Martin; Rebelo, Sergio; Wong, Arlene
作者单位：Northwestern University; National Bureau of Economic Research; Northwestern University; Centre for Economic Policy Research - UK; Princeton University
摘要：This paper studies how the impact of monetary policy depends on the distribution of savings from refinancing mortgages. We show that the efficacy of monetary policy is state dependent, varying in a systematic way with the pool of potential savings from refinancing. We construct a quantitative dynamic life-cycle model that accounts for our findings and use it to study how the response of consumption to a change in mortgage rates depends on the distribution of savings from refinancing. These eff...
