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作者：Gowrisankaran, Gautam; Langer, Ashley; Reguant, Mar
作者单位：Columbia University; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; University of Arizona
摘要：Natural gas has replaced coal as the dominant fuel for US electricity generation. However, utilities in regulated US states have retired coal more slowly than others. We build a structural model of rate-of-return regulation during an energy transition where utilities face trade-offs between lowering costs and maintaining and using legacy capacity. A regulated utility facing carbon taxes lowers short-run coal generation 48 percent as much as a cost minimizer would. Thirty years after a sudden e...
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作者：Aronoff, Daniel; Rafey, Will
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); University of California System; University of California Los Angeles; National Bureau of Economic Research
摘要：We introduce an empirical framework for valuing markets in environmental offsets. Using newly collected data on wetland conservation and offsets, we apply this framework to evaluate a set of decentralized markets in Florida, where land developers purchase offsets from long-lived producers who restore wetlands over time. We find offsets led to substantial private gains from trade, creating $2.4 billion of net surplus from 1995 to 2020 relative to direct conservation. Offset trading also generat...
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作者：Danieli, Oren; Nevo, Daniel; Walk, Itai; Weinstein, Bar; Zeltzer, Dan
作者单位：Tel Aviv University; University of California System; University of California Berkeley
摘要：The validity of instrumental variable (IV) designs is typically tested using two types of falsification tests. We characterize these tests as conditional independence tests between negative control variables - proxies for unobserved variables posing a threat to the identification - and the IV or the outcome. We describe the conditions variables must satisfy in order to serve as negative controls. We show these falsification tests examine not only independence and the exclusion restriction but ...
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作者：Dahl, Gordon B.; Knepper, Matthew
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; Leibniz Association; Ifo Institut; Leibniz Association; Ifo Institut; IZA Institute Labor Economics; Centre for Economic Policy Research - UK; Amazon.com
摘要：Why is workplace sexual harassment chronically underreported? We hypothesize that employers coerce victims into silence through the threat of a retaliatory firing. To test this, we estimate how two external shocks that reduce workers'outside options - unemployment rate increases and sharp cuts to unemployment insurance benefits - affect the selectivity of sexual harassment charges filed with the Equal Employment Opportunity Commission. We find that both shocks increase selectivity, which impli...
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作者：Eeckhout, Jan; Fu, Chunyang; Li, Wenjian; Weng, Xi
作者单位：Pompeu Fabra University; Centre de Recerca en Economia Internacional (CREI); Central University of Finance & Economics; Zhejiang University; Peking University
摘要：Should optimal income taxation change when firms have market power? We analyze how the planner can optimally tax labor income of workers and profits of entrepreneurs. We derive optimal tax rates that depend on markups and identify four distinct components: the Mirrleesian incentive effect, the Pigouvian tax correction of the negative externality of market power, redistribution through altered factor prices, and reallocation of output toward the most productive firms. We quantify the optimal ta...
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作者：Choukhmane, Taha
作者单位：Massachusetts Institute of Technology (MIT)
摘要：Using data from over 100 US retirement plans and a representative UK panel, I document the impact of auto-enrollment (AE) on retirement savings at different horizons. I replicate the impact of AE on participation and contributions in the short run (at 12 months), but I show that these gains are attenuated over the medium run (at 36 months). At this longer horizon, the average savings increases are modest, though AE significantly lowers inequality in savings. To assess AE's lifetime impact, I e...
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作者：Abou Daher, Chaza; Field, Erica; Swanson, Kendal; Vyborny, Kate
作者单位：Duke University; National Bureau of Economic Research; Duke University; The World Bank
摘要：We conduct a field experiment to quantify the impact of the lifting of the Saudi women's driving ban on women's employment by randomizing rationed spaces in driver's training. Treated women are 41 percent more likely to be employed yet are 19 percent less likely to be able to make purchases without family permission. Patterns of heterogeneous treatment effects reveal that these divergent impacts of access to driving are experienced by distinct subgroups of women. The results underscore the imp...
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作者：Amodio, Francesco; Medina, Pamela; Morlacco, Monica
作者单位：McGill University; IZA Institute Labor Economics; University of Toronto; University Toronto Scarborough; University of Toronto; University of Southern California
摘要：This paper shows that self-employment shapes labor market power in low-income countries, with implications for industrial development. Using Peruvian data, we find that wage-setting power increases with employer concentration but less so where self-employment is more prevalent. A general equilibrium model shows that in oligopsonistic labor markets, self-employment raises the supply elasticity of wage labor, weakening employer market power. However, by the same mechanism, procompetitive policie...
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作者：Gormsen, Niels Joachim; Huber, Kilian
作者单位：University of Chicago
摘要：We construct a dataset of firms' discount rates (i.e., required returns to capital) and perceived cost of capital using corporate conference calls. The relation between discount rates and the cost of capital is far below the one-to-one mapping assumed in standard theory, as it takes many years for changes in the cost of capital to be incorporated into discount rates. This pattern leads to large and time-varying discount rate wedges that affect firm investment. Moreover, increasing discount rat...
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作者：Humlum, Anders; Munch, Jakob R.; Plato, Pernille
作者单位：University of Chicago
摘要：We provide the first evidence on how workers invest in human capital after losing ability. Using quasi-random work accidents in Danish administrative data, we find that workers enroll in bachelor's programs after physical injuries, pursuing degrees that build on their past training and experience. Exploiting institutional differences in the stackability of degrees, we find that higher education moves injured workers from disability benefits to full-time employment, earning 25 percent more than...
