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作者：Kluender, Raymond; Mahoney, Neale; Wong, Francis; Yin, Wesley
作者单位：Harvard University; Stanford University; National Bureau of Economic Research; University of Munich; University of California System; University of California Los Angeles
摘要：Two in five Americans have medical debt, nearly half of whom owe at least $2,500. Concerned by this burden, governments and private donors have undertaken large, high-profile efforts to relieve medical debt. We partnered with RIP Medical Debt (now Undue Medical Debt) to conduct two randomized experiments that relieved medical debt with a face value of $169 million for 83,401 people between 2018 and 2020. Our experiments focused on downstream medical debt that had been sold to debt collectors, ...
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作者：Maxted, Peter
作者单位：University of California System; University of California Berkeley
摘要：By augmenting the continuous-time specification of Harris and Laibson (2013) with the assumption that hard borrowing constraints do not bind in equilibrium, present bias can be tractably incorporated into rich consumption-saving models featuring stochastic income, risky and illiquid assets, and costly borrowing. I present closed-form expressions characterizing how present bias affects consumption, illiquid asset demand, and welfare. This welfare analysis specifies the channels through which pr...
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作者：Greenstone, Michael; Pande, Rohini; Ryan, Nicholas; Sudarshan, Anant
作者单位：University of Chicago; Yale University; University of Warwick
摘要：Market-based environmental regulations are seldom used in low-income countries, where pollution is highest but state capacity is often low. We collaborated with the Gujarat Pollution Control Board (GPCB) to design and experimentally evaluate the world's first particulate-matter emissions market, which covered industrial plants in a large Indian city. There are three main findings. First, the market functioned well. Treatment plants, randomly assigned to the emissions market, traded permits to ...
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作者：Taubinsky, Dmitry; Butera, Luigi; Saccarola, Matteo; Lian, Chen
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：We study how people's beliefs about the economy covary with household-level events, using a unique link between Danish administrative data and a large-scale survey of consumer expectations. We find that compared to actual inflation, people's inflation forecasts covary much more strongly (and negatively) with both recently realized household income changes and measures of expected future household income changes. We formally establish that these findings are stark deviations from the Bayesian r...
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作者：Nimier-David, Elio; Sraer, David; Thesmar, David
作者单位：Cornell University; University of California System; University of California Berkeley; National Bureau of Economic Research; Centre for Economic Policy Research - UK; Massachusetts Institute of Technology (MIT)
摘要：Since 1967, all French firms with more than 100 employees have been required to share a fraction of their excess profits with their employees. Through this scheme, firms with excess profits distribute, on average, 10.5% of their pretax income to workers. In 1990, the eligibility threshold was reduced to 50 employees. We exploit this regulatory change to identify the effects of mandated profit-sharing on firms and their employees. The cost of mandated profit-sharing for firms is evident in the ...
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作者：Sangani, Kunal
作者单位：Northwestern University
摘要：Empirical studies find that the pass-through of input cost changes to prices is incomplete: a 10% increase in costs causes downstream prices to rise less than 10%, even at long horizons. Using microdata from gas stations, food products, and manufacturing industries, I find that incomplete pass-through in percentages often disguises complete pass-through in levels: a $1/unit increase in input costs leads to $1/unit higher downstream prices. Pass-through appears incomplete in percentages due to ...
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作者：Andries, Marianne; Bursztyn, Leonardo; Chaney, Thomas; Djourelova, Milena; Imas, Alex
摘要：We explore the mechanics of empathy. We show that information about an outgroup can activate and magnify empathy when presented in conjunction with an experience simulating their struggles. This response increases the willingness to help the struggling group. We provide evidence for this effect in an immersive virtual reality experiment where participants (witnesses) experience a simulation of the struggle of unauthorized migrants (protagonists), then replicate these results in a series of con...
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作者：Cirera, Xavier; Comin, Diego; Cruz, Marcio
作者单位：The World Bank; The World Bank
摘要：We study technology sophistication using a novel approach that measures the sophistication of the most advanced (MAX) and the most widely used (MOST) technologies in key business functions within establishments. Using data from over 21,000 establishments across 15 countries, we find that establishments generally underutilize the most sophisticated technologies available in a business function. These MAX-MOST gaps are persistent and strongly associated with productivity both across establishmen...
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作者：Errico, Marco; Lashkari, Danial
作者单位：European Central Bank; Bank of Italy; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：We characterize the contribution of changes in quality, price, and variety entry/exit to the aggregate price index for smooth, invertible demand systems, generalizing the standard results derived in the CES case. The results require the knowledge of heterogeneous cross-product elasticities of substitution. To apply them in practice, we also show how to identify rich demand systems using data only on prices and market shares, without the need for external cost-shock instruments or strong assump...
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作者：Chiovelli, Giorgio; Michalopoulos, Stelios; Papaioannou, Elias; Sequeira, Sandra
作者单位：Universidad de Montevideo; Brown University; University of London; London Business School; University of London; London School Economics & Political Science
摘要：We study the effect of conflict-induced displacement on human capital and occupational shifts, focusing on the Mozambican civil war (1977-1992), during which millions of civilians were forced to flee to the countryside, cities, and neighboring countries. Reconstructing the wartime mobility histories of the surviving population, we examine the consequences of multiple displacement trajectories in a unified framework. First, we characterize the education and sectoral employment of the universe o...
