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作者：Aguiar, Mark; Bils, Mark; Charles, Kerwin Kofi; Hurst, Erik
作者单位：Princeton University; University of Rochester; Yale University; University of Chicago
摘要：We propose a methodology exploiting time diary data and leisure Engel curves to infer quality changes across leisure activities and measure the effects on the marginal return to leisure. We study leisure returns for men aged 21-30, who have shifted leisure toward video gaming and recreational computing and have had larger market work hour declines than older men or women since 2004. We show that recreational computing is distinctly a leisure luxury for younger men. By increasing the value of t...
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作者：Rose, Evan K.; Shem-Tov, Yotam
作者单位：University of Chicago; University of California System; University of California Los Angeles
摘要：We study the causal effect of incarceration on reoffending using discontinuities in North Carolina's sentencing guidelines. A regression discontinuity analysis shows that 1 year of incarceration causes a reduction in the likelihood of being reincarcerated within 3, 5, and 8 years from sentencing by 44%, 29%, and 21%, respectively. To parse the potentially heterogeneous dose response relationship underlying these effects, we develop an econometric model of prison sentences and recidivism. We fi...
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作者：Amberg, Niklas; Jacobson, Tor; von Schedvin, Erik; Townsend, Robert
作者单位：Sveriges Riksbank; Centre for Economic Policy Research - UK; Massachusetts Institute of Technology (MIT)
摘要：Using data on liquidity shortfalls generated by the fraud and failure of a cash-in-transit firm, we demonstrate effects on firms' trade credit usage. We find that firms manage liquidity shortages by increasing the amount of credit drawn from suppliers and decreasing the amount issued to customers. The compounded trade credit adjustments are on average of similar magnitude as corresponding adjustments in cash holdings, suggesting that trade credit positions are economically important sources of...
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作者：Aucejo, Esteban; James, Jonathan
作者单位：Arizona State University; Arizona State University-Tempe; California State University System; California Polytechnic State University San Luis Obispo
摘要：This paper studies the formation of math and verbal skills during compulsory education and their impact on educational attainment. Using longitudinal data that follow students in England from elementary school to university, we find that the production functions of math and verbal skills are inherently different, where cross effects are present only in the production of math skills. Results on long-term educational outcomes indicate that verbal skills play a substantially greater role in expla...
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作者：Costa, Francisco; Gerard, Francois
作者单位：University of Delaware; University of London; Queen Mary University London
摘要：This paper provides stark evidence of hysteresis-the failure of an effect to reverse itself as its underlying cause is reversed-in energy demand. We estimate that half of the 23% reduction in residential electricity use caused by a 9-month-long policy that was imposed on millions of Brazilians has persisted for at least 12 years. We examine the implications of our finding by extending the traditional welfare analysis of corrective policies to allow for hysteresis. Our estimate highlights that ...
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作者：Curto, Vilsa; Einav, Liran; Levin, Jonathan; Bhattacharya, Jay
作者单位：Harvard University; Stanford University; National Bureau of Economic Research
摘要：We estimate the economic surplus created by the Medicare Advantage program under its reformed competitive bidding rules. We use data on the universe of Medicare beneficiaries and develop a model of plan bidding that accounts for both market power and risk selection. We estimate that the Medicare Advantage program generates substantial surplus to participants (of $217 per enrollee-month), but that approximately two-thirds of this surplus is captured by insurers. We use the model to evaluate the...
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作者：Somanathan, E.; Somanathan, Rohini; Sudarshan, Anant; Tewari, Meenu
作者单位：Indian Statistical Institute; Indian Statistical Institute Delhi; Delhi School of Economics; University of Chicago; University of North Carolina; University of North Carolina Chapel Hill
摘要：Hotter years are associated with lower economic output in developing countries. We show that the effect of temperature on labor is an important part of the explanation. Using microdata from selected firms in India, we estimate reduced worker productivity and increased absenteeism on hot days. Climate control significantly mitigates productivity losses. In a national panel of Indian factories, annual plant output falls by about 2% per degree Celsius. This response appears to be driven by a redu...
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作者：D'Acunto, Francesco; Malmendier, Ulrike; Ospina, Juan; Weber, Michael
作者单位：Boston College; University of California System; University of California Berkeley; National Bureau of Economic Research; Banco de la Republica Colombia; University of Chicago
摘要：Consumers rely on the price changes of goods in their grocery bundles when forming expectations about aggregate inflation. We use micro data that uniquely match individual expectations, detailed information about consumption bundles, and item-level prices. The weights consumers assign to price changes depend on the frequency of purchase, rather than expenditure share, and positive price changes loom larger than negative price changes. Prices of goods offered in the same store but not purchased...
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作者：Carneiro, Pedro; Garcia, Italo Lopez; Salvanes, Kjell G.; Tominey, Emma
作者单位：University of London; London School Economics & Political Science; University College London; Norwegian School of Economics (NHH); RAND Corporation; IZA Institute Labor Economics; Norwegian School of Economics (NHH); University of York - UK
摘要：We extend the standard intergenerational mobility literature by examining the relationship between adult outcomes of children and the timing of parental income during their childhood years, using data from Norway. We find first that, conditional on permanent household income, the child's human capital is higher in households where income is balanced between the early childhood and late childhood years than in households with a more imbalanced income profile. Second, compared to that in the ear...
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作者：Gola, Pawel
作者单位：BI Norwegian Business School
摘要：I examine the distributional consequences of technological change in a framework that nests Roy's (1951) and Becker's (1973) classical models: workers self-select into two sectors and then match with heterogeneous firms within each sector. In this model, technological change can be decomposed into changes in (i) the degree to which sectors covet the same skill sets and (ii) the extent to which output varies with skill in each sector. By deriving monotone comparative statics results for each of...
