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作者：Bilk, Alexander; Blandin, Adam; Rogerson, Richard
作者单位：Arizona State University; Arizona State University-Tempe; Virginia Commonwealth University; Princeton University
摘要：We document two robust features of the cross-sectional distribution of usual weekly hours and hourly wages. First, usual weekly hours are heavily concentrated around 40 hours, while at the same time a substantial share of total hours come from individuals who work more than 50 hours. Second, mean hourly wages are nonmonotonic across the usual hours distribution, with a peak at 50 hours. We develop and estimate a model of labor supply to account for these features. The novel feature of our mode...
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作者：Meyer, Josefin; Reinhart, Carmen M.; Trebesch, Christoph
作者单位：Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; Harvard University; National Bureau of Economic Research
摘要：This article studies external sovereign bonds as an asset class. We compile a new database of 266,000 monthly prices of foreign-currency government bonds traded in London and New York between 1815 (the Battle of Waterloo) and 2016, covering up to 91 countries. Our main insight is that, as in equity markets, the returns on external sovereign bonds have been sufficiently high to compensate for risk. Real ex post returns average more than 6% annually across two centuries, including default episod...
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作者：Bleemer, Zachary
作者单位：University of California System; University of California Berkeley
摘要：Proposition 209 banned race-based affirmative action at California public universities in 1998. Using a difference-in-differences research design and a newly constructed longitudinal database linking all 1994-2002 University of California applicants to their educational experiences and wages, I show that ending affirmative action caused underrepresented minority (URM) freshman applicants to cascade into lower-quality colleges. The mismatch hypothesis implies that this cascade would provide net...
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作者：Heldring, Leander; Robinson, James A.; Vollmer, Sebastian
作者单位：Northwestern University; University of Chicago; University of Gottingen
摘要：We use the effect of the Dissolution of the English Monasteries after 1535 to test the commercialization hypothesis about the roots of long-run English economic development. Before the Dissolution, monastic lands were relatively unencumbered by inefficient feudal land tenure but could not be sold. The Dissolution created a market for formerly monastic lands, which could now be more effectively commercialized relative to nonmonastic lands, where feudal tenure persisted until the twentieth centu...
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作者：Goldin, Jacob; Lurie, Ithai Z.; McCubbin, Janet
作者单位：Stanford University; National Bureau of Economic Research; United States Department of the Treasury
摘要：We evaluate a randomized outreach study in which the IRS sent informational letters to 3.9 million households that paid a tax penalty for lacking health insurance coverage under the Affordable Care Act. Drawing on administrative data, we study the effect of this intervention on taxpayers' subsequent health insurance enrollment and mortality. We find the intervention led to increased coverage during the subsequent two years and reduced mortality among middle-aged adults over the same time perio...
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作者：Christensen, Darin; Dube, Oeindrila; Haushofer, Johannes; Siddiqi, Bilal; Voors, Maarten
作者单位：University of California System; University of California Los Angeles; University of Chicago; National Bureau of Economic Research; Stockholm University; Max Planck Society; University of California System; University of California Berkeley; Wageningen University & Research
摘要：Skepticism about the quality of health systems and their consequent underuse are thought to contribute to high rates of mortality in the developing world. The perceived quality of health services may be especially critical during epidemics, when people choose whether to cooperate with response efforts and front-line health workers. Can improving the perceived quality of health care promote community health and ultimately help to contain epidemics? We leverage a field experiment in Sierra Leone...
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作者：Hartzmark, Samuel M.; Hirshman, Samuel D.; Imas, Alex
作者单位：University of Chicago; National Bureau of Economic Research; University of Colorado System; University of Colorado Boulder
摘要：We examine how owning a good affects learning and beliefs about its quality. We show that people have more extreme reactions to information about a good they own compared with the same information about a nonowned good: ownership causes more optimistic beliefs after receiving a positive signal and more pessimistic beliefs after receiving a negative signal. Comparing learning to normative benchmarks reveals that people overextrapolate from signals about goods they own, which leads to an overrea...
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作者：Harel, Matan; Mossel, Elchanan; Strack, Philipp; Tamuz, Omer
作者单位：Tel Aviv University; Massachusetts Institute of Technology (MIT); Yale University; California Institute of Technology
摘要：We study how long-lived rational agents learn from repeatedly observing a private signal and each others' actions. With normal signals, a group of any size learns more slowly than just four agents who directly observe each others' private signals in each period. Similar results apply to general signal structures. We identify rational groupthink-in which agents ignore their private signals and choose the same action for long periods of time-as the cause of this failure of information aggregation.
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作者：Bandiera, Oriana; Best, Michael Carlos; Khan, Adnan Qadir; Prat, Andrea
作者单位：University of London; London School Economics & Political Science; Columbia University; National Bureau of Economic Research
摘要：We design a field experiment to study how the allocation of authority between frontline procurement officers and their monitors affects performance both directly and through the response to incentives. In collaboration with the government of Punjab, Pakistan, we shift authority from monitors to procurement officers and introduce financial incentives in a sample of 600 procurement officers in 26 districts. We find that autonomy alone reduces prices by 9% without reducing quality and that the ef...
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作者：Carvalho, Vasco M.; Nirei, Makoto; Saito, Yukiko U.; Tahbaz-Salehi, Alireza
作者单位：University of Cambridge; Alan Turing Institute; Centre for Economic Policy Research - UK; University of Tokyo; Waseda University; Northwestern University
摘要：Exploiting the exogenous and regional nature of the Great East Japan Earthquake of 2011, this article provides a quantification of the role of input-output linkages as a mechanism for the propagation and amplification of shocks. We document that the disruption caused by the disaster propagated upstream and downstream along supply chains, affecting the direct and indirect suppliers and customers of disaster-stricken firms. Using a general equilibrium model of production networks, we then obtain...
