-
作者：Bernard, Andrew B.; Dhyne, Emmanuel; Magerman, Glenn; Manova, Kalina; Moxnes, Andreas
作者单位：Dartmouth College; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; European Central Bank; National Bank of Belgium; University of Mons; Universite Libre de Bruxelles; European Central Bank; National Bank of Belgium; University of London; University College London; University of Oslo
摘要：We explore firm size heterogeneity in production networks. In comprehensive data for Belgium, firms with more customers have higher total sales but lower sales and lower market shares per customer. Downstream factors, especially the number of customers, explain the vast majority of firm size dispersion. We rationalize these facts with a model of network formation and two-dimensional firm heterogeneity. Higher productivity generates more matches and larger market shares among customers. Higher ...
-
作者：Hartley, Robert Paul; Lamarche, Carlos; Ziliak, James P.
作者单位：Columbia University; University of Kentucky
摘要：We investigate the effect of welfare reform on intergenerational welfare participation, using mother-daughter pairs in the Panel Study of Income Dynamics. We find that a mother's Aid to Families with Dependent Children/Temporary Assistance for Needy Families (AFDC/TANF) participation increased her daughter's odds of adult participation in that program by roughly 25 percentage points or more, but that welfare reform attenuated this transmission by at least 50%. However, there is no diminution o...
-
作者：Seror, Avner
作者单位：Aix-Marseille Universite; Centre National de la Recherche Scientifique (CNRS); Aix-Marseille Universite
摘要：I present a model of child development that highlights the effect of parent-child interactions on the formation of skills. Through the parent's affection, the child learns and builds mental representations of the self as loved and competent. These mental representations shape the child's noncognitive skills and foster learning. I show that this model provides a unifying explanation for well-established evidence on child development. The model also sheds light on how early exposure to media dev...
-
作者：Justiniano, Alejandro; Primiceri, Giorgio E.; Tambalotti, Andrea
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago; Northwestern University; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：We study the interest rates of privately securitized residential mortgages during the credit boom of the early 2000s. They reveal a sharp and persistent drop in the spread between mortgage and Treasury rates starting in the summer of 2003. The emergence of this mortgage rate conundrum immediately followed the collapse of an unprecedented refinancing wave, and it was more pronounced in the regions where that wave had grown faster. These same areas also experienced more originations of the nonco...
-
作者：Boehm, Johannes; Dhingra, Swati; Morrow, John
作者单位：University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; Centre for Economic Policy Research - UK; University of London; London School Economics & Political Science; King's College London
摘要：Resource-based theories propose that firms grow by diversifying into products that use common capabilities. We provide evidence for common-input capabilities, using a policy that removed entry barriers in input markets to show that the similarity of a firm's and an industry's input mix determines firm production choices. We model industry choice and economies of scope from input capabilities. When the model is estimated for Indian manufacturing, input complementarities make firms 5% more likel...
-
作者：Coviello, Decio; Deserranno, Erika; Persico, Nicola
作者单位：Universite de Montreal; HEC Montreal; Northwestern University; Northwestern University; Northwestern University; National Bureau of Economic Research
摘要：We study workers who are employed by a large US retailer, work in many store locations, and are paid based on performance. By means of a border-discontinuity analysis, we document that workers become more productive and are terminated less often after a minimum wage increase. These effects are stronger among workers whose pay is more often supported by the minimum wage. However, when workers are monitored less intensely, the minimum wage depresses productivity. We interpret these findings thro...
-
作者：Bau, Natalie
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; Centre for Economic Policy Research - UK
摘要：The quality of the match between students and schools affects learning, but little is known about the magnitude of these effects or how they respond to changes in market structure. I develop a quantitative equilibrium model of school competition with horizontal competition in match quality. I estimate the model using data from Pakistan, a country with high private enrollment, and (1) quantify the importance of good matches, (2) show that profit-maximizing private schools' choices of quality ad...
-
作者：Beach, Brian; Brown, Ryan; Ferrie, Joseph; Saavedra, Martin; Thomas, Duncan
作者单位：Vanderbilt University; National Bureau of Economic Research; Children's Hospital Colorado; University of Colorado System; University of Colorado Anschutz Medical Campus; University of Colorado Denver; Northwestern University; University System of Ohio; Oberlin College; National Bureau of Economic Research; Duke University
-
作者：Barr, Andrew; Gibbs, Chloe R. R.
作者单位：Texas A&M University System; Texas A&M University College Station; University of Notre Dame
摘要：Despite substantial evidence that resources and outcomes are transmitted across generations, there has been limited inquiry into the extent to which antipoverty programs actually disrupt the cycle of bad outcomes. We leverage the rollout of the United States's largest early-childhood program, Head Start, to estimate the effect of early-childhood exposure among mothers on their children's long-term outcomes. We find evidence of intergenerational transmission of effects in the form of increased ...
-
作者：Buffa, Andrea M.; Vayanos, Dimitri; Woolley, Paul
作者单位：University of Colorado System; University of Colorado Boulder; Centre for Economic Policy Research - UK; University of London; London School Economics & Political Science; University of London; London School Economics & Political Science
摘要：We model asset management as a continuum between active and passive: managers can deviate from benchmark indices to exploit noise trader-induced distortions, but agency frictions constrain these deviations. Because constraints force managers to buy assets that they underweight when these assets appreciate, overvalued assets have high volatility, and the risk-return relationship becomes inverted. Distortions are more severe for overvalued assets than for undervalued ones because trading against...
