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作者：Gruber, Jonathan; Howard, David h.; Leder-luis, Jetson; Caputi, Theodore l.
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Emory University; Rollins School Public Health; Boston University
摘要：The Medicare hospice program is intended to provide palliative care to terminal patients, but patients with long stays in hospice are highly profitable, motivating concerns about overuse among the Alzheimer's and Dementia ( ADRD ) population in the rapidly growing for-profit sector. We provide the first causal estimates of the effect of for-profit hospice on patient spending using the entry of for-profit hospices over 20 years. We find hospice has saved money for Medicare by offsetting other e...
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作者：Bachmann, Rudiger; Carstensen, Kai; Lautenbacher, Stefan; Menkhoff, Manuel; Schneider, Martin
作者单位：University of Michigan System; University of Michigan; Centre for Economic Policy Research - UK; Leibniz Association; Ifo Institut; Leibniz Association; Ifo Institut; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; University of Kiel; University of Munich; University of Copenhagen; Stanford University; National Bureau of Economic Research
摘要：This paper studies how managers plan under uncertainty. In a new panel survey of German manufacturing firms, we observe both forecasts of sales growth and a quantitative measure of subjective uncertainty. We show that subjective uncertainty reflects change experienced by firms: It is high when growth is either unusually low or unusually high. Subjective uncertainty is more than conditional volatility; while more volatile firms are typically more uncertain, experienced change alone increases un...
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作者：Serra-Garcia, Marta
作者单位：University of California System; University of California San Diego; Leibniz Association; Ifo Institut
摘要：How does information transmission change when it requires attracting the attention of receivers? This paper combines an experiment that varies freelance professionals' incentives to attract attention about scientific findings, with several online experiments that exogenously expose receivers to the content created. Attention incentives lead to significantly less information being transmitted, but not more factually inaccurate content. These incentives increase information demand and the knowle...
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作者：Backer-Peral, Veronica; Hazell, Jonathon; Mian, Atif
作者单位：University of London; London School Economics & Political Science
摘要：Each month, a fraction of UK property leases are extended by 90 years or more. We construct a new dataset using thousands of these natural experiments since 2000 and estimate the expected long-term housing yield, y * . After remaining steady at around 5 percent, y * starts to decline when the Great Recession hits and reaches a low of 2.7 percent in 2024. The decline is steeper in inelastic markets, while y * remains higher in regions more exposed to long-run climate risk. Our estimate of y * i...
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作者：Haanwinckel, Daniel
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research
摘要：This paper examines how workforce composition, labor demand, and minimum wage jointly determine wages through their effects on worker-task assignments, firm wage premiums, and firm-worker sorting. Using an estimated model of monopsonistic local labor markets, it finds that minimum wage hikes and labor demand shocks drove the decline in Brazilian wage inequality from 1998 to 2012. While rising educational attainment compressed skill premiums within firms, it also reallocated skilled workers to ...
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作者：Shapiro, Joseph s.; Walker, Reed
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：We develop a framework to estimate the marginal cost of air pollution regulation and apply it to assess policy efficiency. We exploit a provision of the Clean Air Act that requires new plants to pay incumbent facilities to reduce emissions. This offset policy creates hundreds of local pollution markets, differing by pollutant and location. Theory and transaction data suggest that offset prices reveal marginal abatement costs. We compare these prices to marginal benefits of pollution reduction ...
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作者：Lerche, Adrian
作者单位：IZA Institute Labor Economics
摘要：This paper estimates the direct effects and indirect spillover effects of investment tax credits on firms. Exploiting a differential tax credit rate change by firm size in the German manufacturing sector, I find that lowering a firm's investment cost by 7.6 percent increases its capital stock by 17.7 percent and employment by 12.0 percent. Positive local spillovers generate one additional manufacturing job for each directly created job, are strongest between firms in industries connected throu...
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作者：Lyubich, Eva
摘要：There is substantial spatial heterogeneity in household carbon emissions. I leverage movers in two decades of administrative Decennial Census and American Community Survey data to estimate place effects-the amount by which carbon emissions change for the same household living in different places-for almost 1,000 cities and roughly 61,500 neighborhoods across the United States. I estimate that place effects account for 14-23 percent of overall heterogeneity. A change in neighborhood-level place...
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作者：Benetton, Matteo; Gavazza, Alessandro; Surico, Paolo
作者单位：University of California System; University of California Berkeley; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK
摘要：This paper examines how central bank policies influence mortgage pricing in the United Kingdom. It shows that lenders price discriminate by offering two-part tariffs of interest rates and origination fees, and during unconventional monetary policies like the Funding for Lending Scheme, lenders reduced interest rates while increasing fees. Using a model of mortgage demand and lender competition, we find that central bank policies increased mortgage lending. Additionally, banning origination fee...
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作者：Alan, Sule; Kubilay, Elif
作者单位：Cornell University; Cornell University; Ihsan Dogramaci Bilkent University; University of Essex
摘要：We test the effectiveness of a behavioral program grounded in the idea that status granting and self-persuasion might yield a robust behavioral change in disadvantaged adolescents. We enlist socially connected senior middle school students with high emotional intelligence as student-teachers and entrust them with delivering a curriculum to their junior peers. The program empowers student-teachers, leading them to improve their social environment. It reduces disciplinary incidents and antisoci...
