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作者：Kuhn, Moritz; Schularick, Moritz; Steins, Ulrike I.
作者单位：University of Bonn; Centre for Economic Policy Research - UK; IZA Institute Labor Economics
摘要：This paper introduces a new long-run data set based on archival data from historical waves of the Survey of Consumer Finances. Studying the joint distribution of household income and wealth, we expose the central importance of portfolio composition and asset prices for wealth dynamics in postwar America. Asset prices shift the wealth distribution because of systematic differences in household portfolios along the wealth distribution. Middle-class portfolios are dominated by housing, while rich...
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作者：Brownback, Andy; Sadoff, Sally
作者单位：University of Arkansas System; University of Arkansas Fayetteville; University of California System; University of California San Diego
摘要：In a field experiment, we examine the impact of performance-based incentives for community college instructors. Instructor incentives improve student exam scores, course grades, and credit accumulation while reducing course dropout. Effects are largest among part-time adjunct instructors. During the program, instructor incentives have large positive spillovers, increasing completion rates and grades in students' courses outside our study. One year after the program, instructor incentives incre...
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作者：Calvi, Rossella
作者单位：Rice University
摘要：Almost half of missing women in India are of postreproductive ages. Can intrahousehold gender inequality and asymmetry in poverty explain a portion of these missing women? Using a natural experiment, I link women's intrahousehold bargaining power to their mortality risk. Using a structural household model, I estimate the age profile of women's bargaining power and construct women's relative poverty rates. I find that women's bargaining power declines with age, with older women's poverty rates ...
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作者：Herrera, Helios; Ordonez, Guillermo; Trebesch, Christoph
作者单位：University of Warwick; Centre for Economic Policy Research - UK; University of Pennsylvania; National Bureau of Economic Research; Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW); Leibniz Association; Ifo Institut
摘要：Political booms, measured by the rise in governments' popularity, predict financial crises above and beyond better known early warning indicators, such as credit booms. This predictive power, however, only holds in emerging economies. We argue that governments in developing countries have stronger incentives to ride unsound credit booms in order to boost their popularity, rather than implementing corrective policies that could prevent crises but are politically costly. We provide evidence of t...
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作者：Alexander, Diane
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：Billions of dollars have been spent on pilot programs searching for ways to reduce health care costs. I study one such program, in which hospitals pay doctors bonuses for reducing the total hospital costs of admitted Medicare patients. Doctors respond to the bonuses by becoming more likely to admit patients whose treatment can generate high bonuses and sorting healthier patients into participating hospitals. Conditional on patient health, however, doctors do not reduce costs or change procedur...
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作者：Costello, Anna M.
作者单位：University of Michigan System; University of Michigan
摘要：How do shocks to the banking sector travel through the corporate economy? Using a novel data set of interfirm sales, I show that suppliers exposed to a large and exogenous decline in bank financing pass this liquidity shock to their downstream customers. The spillover effect occurs through two channels: a reduction in trade credit offered and a reduction in the total supply of goods and services. After exposure to the spillover, downstream customers show a spike in credit risk and a reduction ...
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作者：Gandhi, Amit; Navarro, Salvador; Rivers, David A.
作者单位：University of Pennsylvania; Western University (University of Western Ontario)
摘要：We study the nonparametric identification of gross output production functions under the environment of the commonly employed proxy variable methods. We show that applying these methods to gross output requires additional sources of variation in the demand for flexible inputs (e.g., prices). Using a transformation of the firm's first-order condition, we develop a new nonparametric identification strategy for gross output that can be employed even when additional sources of variation are not av...
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作者：Goldin, Jacob; Reck, Daniel
作者单位：Stanford University; National Bureau of Economic Research; University of London; London School Economics & Political Science
摘要：In many settings, decision makers' behavior is observed to vary on the basis of seemingly arbitrary factors. Such framing effects cast doubt on the welfare conclusions drawn from revealed-preference analysis. We relax the assumptions underlying that approach to accommodate settings in which framing effects are present. Plausible restrictions of varying strength permit either partial or point identification of preferences for the decision makers who choose consistently across frames. Recovering...
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作者：Ely, Jeffrey C.; Szydlowski, Martin
作者单位：Northwestern University; University of Minnesota System; University of Minnesota Twin Cities
摘要：We study information as an incentive device in a dynamic moral hazard framework. An agent works on a task of uncertain difficulty, modeled as the duration of required effort. The principal knows the task difficulty and provides information over time. The optimal mechanism features moving goalposts: an initial disclosure makes the agent sufficiently optimistic that the task is easy. If the task is indeed difficult, the agent is told this only after working long enough to put the difficult task ...
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作者：Baliga, Sandeep; Sjostrom, Tomas
作者单位：Northwestern University; Rutgers University System; Rutgers University New Brunswick
摘要：Using a simple bargaining game, we investigate how strategic interactions are shaped by preferences, technology, and endowments. We study whether changes in relative military capabilities make conflicts more likely and find a nonmonotonic relationship between the cost of conflict and the probability of conflict. The game has strategic complements if the cost of conflict is small and there is a large first-mover advantage and has strategic substitutes otherwise. This characterization generates ...
