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作者：Singleton, John D.
作者单位：University of Rochester
摘要：Charter school funding is typically set by formulas that provide the same amount for students regardless of advantage or need. I present evidence that this policy skews the distribution of students served by charters toward low-cost populations by influencing where charter schools open and whether they survive. To do this, I develop and estimate an equilibrium model of charter school supply and competition to evaluate the effects of funding policies that aim to correct these incentives. The re...
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作者：Ho, Kate; Lee, Robin S.
作者单位：Princeton University; National Bureau of Economic Research; Harvard University
摘要：We evaluate the consequences of narrow hospital networks in commercial health care markets. We develop a bargaining solution, Nash-in-Nash with Threat of Replacement, that captures insurers' incentives to exclude, and combine it with California data and estimates from Ho and Lee (2017) to simulate equilibrium outcomes under social, consumer, and insurer-optimal networks. Private incentives to exclude generally exceed social incentives, as the insurer benefits from substantially lower negotiate...
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作者：Charoenwong, Ben; Kwan, Alan; Umar, Tarik
作者单位：National University of Singapore; University of Hong Kong; Rice University
摘要：The Dodd-Frank Act shifted regulatory jurisdiction over midsize investment advisers from the SEC to state-securities regulators. Client complaints against midsize advisers increased relative to those continuing under SEC oversight by 30 to 40 percent of the unconditional probability. Complaints increasingly cited fiduciary violations and rose more where state regulators had fewer resources. Advisers responding more to weaker oversight had past complaints, were located farther from regulators, ...
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作者：Rotemberg, Martin
作者单位：New York University
摘要：Subsidy programs have two countervailing effects on firms: direct gains for eligible firms and indirect losses for those whose competitors are eligible. In 2006, India changed the eligibility criteria for small-firm subsidies, and the sales of newly eligible firms grew by roughly 35 percent. Competitors of the newly eligible firms were affected, with almost complete crowd-out within products that were less internationally traded, but little crowd-out for more-traded products. The newly eligibl...
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作者：Besanko, David; Doraszelski, Ulrich; Kryukov, Yaroslav
作者单位：Northwestern University; University of Pennsylvania; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：We study industries where the price that a firm sets serves as an investment into lower cost or higher demand. We assess the welfare implications of the ensuing competition for the market using analytical and numerical approaches to compare the equilibria of a learning-by-doing model to the first-best planner solution. We show that dynamic competition leads to low deadweight loss. This cannot be attributed to similarity between the equilibria and the planner solution. Instead, we show how lear...
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作者：Fadlon, Itzik; Nielsen, Torben Heien
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; University of Copenhagen
摘要：We study how health behaviors are shaped through family spillovers. We leverage administrative data to identify the effects of health shocks on family members' consumption of preventive care and health-related behaviors, constructing counterfactuals for affected households using households that experience the same shock but a few years in the future. Spouses and adult children immediately improve their health behaviors and their responses are both significant and persistent. These spillovers a...
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作者：Head, Keith; Mayer, Thierry
作者单位：University of British Columbia; Centre for Economic Policy Research - UK; European Central Bank; Bank of France
摘要：Following the 2016 Leave vote in the referendum on UK membership in the EU and the election of Donald Rump, trade agreements have entered a period of great instability. To predict the impact of possible disruptions to existing arrangements requires counterfactual analysis that takes into account the complex set of factors influencing the production and marketing strategies of multinational corporations. We estimate a model of multinational decision-making in the car industry. This model predic...
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作者：Miao, Jianjun; Shen, Zhouxiang; Wang, Pengfei
作者单位：Boston University; Southwestern University of Finance & Economics - China; Central University of Finance & Economics; Hong Kong University of Science & Technology
摘要：We revisit Gali's (2014) analysis by extending his model to incorporate persistent bubble shocks. We find that, under adaptive learning, a stable bubbly steady state and the associated sunspot solutions under optimal monetary policy are not E-stable. When deriving the unique forward-looking minimum stable variable (MSV) solution around an unstable bubbly steady state, we obtain results that are consistent with the conventional views: leaning against the wind policy reduces bubble volatility an...
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作者：Zimmerman, Seth D.
作者单位：University of Chicago
摘要：This paper asks whether elite colleges help students outside of historically advantaged groups reach top positions in the economy. I combine administrative data on income and leadership teams at publicly traded firms with a regression discontinuity design based on admissions rules at elite business focused degree programs in Chile. The 1.8 percent of college students admitted to these programs account for 41 percent of leadership positions and 39 percent of top 0.1 percent incomes. Admission r...
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作者：Alstadsaeter, Annette; Johannesen, Niels; Zucman, Gabriel
作者单位：Norwegian University of Life Sciences; University of Copenhagen; University of Copenhagen; University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：Drawing on a unique dataset of leaked customer lists from offshore financial institutions matched to administrative wealth records in Scandinavia, we show that offshore tax evasion is highly concentrated among the rich. The skewed distribution of offshore wealth implies high rates of tax evasion at the top: we find that the 0.01 percent richest households evade about 25 percent of their taxes. By contrast, tax evasion detected in stratified random tax audits is less than 5 percent throughout t...
