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作者：Baird, Sarah; McIntosh, Craig; Oezler, Berk
作者单位：George Washington University; University of California System; University of California San Diego; The World Bank
摘要：This article assesses the role of conditionality in cash transfer programs using a unique experiment targeted at adolescent girls in Malawi. The program featured two distinct interventions: unconditional transfers (UCT arm) and transfers conditional on school attendance (CCT arm). Although there was a modest decline in the dropout rate in the UCT arm in comparison with the control group, it was only 43% as large as the impact in the CCT arm at the end of the 2-year program. The CCT arm also ou...
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作者：Dittmar, Jeremiah E.
作者单位：American University
摘要：The printing press was the great innovation in early modern information technology, but economists have found no macroeconomic evidence of its impact. This article exploits city-level data. Between 1500 and 1600, European cities where printing presses were established in the 1400s grew 60% faster than otherwise similar cities. Cities that adopted printing in the 1400s had no prior advantage, and the association between adoption and subsequent growth was not due to printers choosing auspicious ...
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作者：Chetty, Raj; Friedman, John N.; Hilger, Nathaniel; Saez, Emmanuel; Schanzenbach, Diane Whitmore; Yagan, Danny
作者单位：Harvard University; National Bureau of Economic Research; University of California System; University of California Berkeley; Northwestern University
摘要：In Project STAR, 11,571 students in Tennessee and their teachers were randomly assigned to classrooms within their schools from kindergarten to third grade. This article evaluates the long-term impacts of STAR by linking the experimental data to administrative records. We first demonstrate that kindergarten test scores are highly correlated with outcomes such as earnings at age 27, college attendance, home ownership, and retirement savings. We then document four sets of experimental impacts. F...
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作者：Hart, Oliver; Holmstrom, Bengt
作者单位：Harvard University; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：The formal literature on firm boundaries has assumed that ex post conflicts are resolved through bargaining. In reality, parties often simply exercise their decision rights. We develop a model, based on shading, in which the use of authority has a central role. We consider two firms deciding whether to adopt a common standard. Nonintegrated firms may fail to coordinate if one firm loses. An integrated firm can internalize the externality, but puts insufficient weight on employee benefits. We u...
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作者：Hornbeck, Richard
作者单位：Harvard University; National Bureau of Economic Research
摘要：This paper examines the impact on agricultural development of the introduction of barbed wire fencing to the American Plains in the late nineteenth century. Without a fence, farmers risked uncompensated damage by others' livestock. From 1880 to 1900, the introduction and near-universal adoption of barbed wire greatly reduced the cost of fences, relative to the predominant wooden fences, especially in counties with the least woodland. Over that period, counties with the least woodland experienc...
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作者：Rothstein, Jesse
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：Growing concerns over the inadequate achievement of US. students have led to proposals to reward good teachers and penalize (or fire) bad ones. The leading method for assessing teacher quality is value added modeling (VAM), which decomposes students' test scores into components attributed to student heterogeneity and to teacher quality. Implicit in the VAM approach are strong assumptions about the nature of the educational production function and the assignment of students to classrooms. In th...
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作者：Riboni, Alessandro; Ruge-Murcia, Francisco J.
作者单位：Universite de Montreal
摘要：This paper studies the theoretical and empirical implications of monetary policy making by committee under four different voting protocols. The protocols are a consensus model, where a supermajority is required for a policy change; an agenda-setting model, where the chairman controls the agenda; a dictator model, where the chairman has absolute power over the committee; and a simple majority model, where policy is determined by the median member. These protocols give preeminence to different a...
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作者：Foster, Dean P.; Young, H. Peyton
作者单位：University of Pennsylvania; University of Oxford; Brookings Institution
摘要：We show that it is very difficult to devise performance-based compensation contracts that reward portfolio managers who generate excess returns while screening out managers who cannot generate such returns. Theoretical bounds are derived on the amount of fee manipulation that is possible under various performance contracts. We show that recent proposals to reform compensation practices, such as postponing bonuses and instituting clawback provisions, will not eliminate opportunities to game the...
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作者：Azoulay, Pierre; Zivin, Joshua S. Graff; Wang, Jialan
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of California System; University of California San Diego
摘要：We estimate the magnitude of spillovers generated by 112 academic super-stars who died prematurely and unexpectedly, thus providing an exogenous source of variation in the structure of their collaborators' coauthorship networks. Following the death of a superstar, we find that collaborators experience, on average, a lasting 5% to 8% decline in their quality-adjusted publication rates. By exploring interactions of the treatment effect with a variety of star, coauthor, and star/coauthor dyad cha...
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作者：Atkeson, Andrew; Chari, Varadarajan V.; Kehoe, Patrick J.
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; University of California System; University of California Los Angeles; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; University of Minnesota System; University of Minnesota Twin Cities; National Bureau of Economic Research
摘要：In standard monetary policy approaches, interest-rate rules often produce indeterminacy. A sophisticated policy approach does not. Sophisticated policies depend on the history of private actions, government policies, and exogenous events and can differ on and off the equilibrium path. They can uniquely implement any desired competitive equilibrium. When interest rates are used along the equilibrium path, implementation requires regime-switching. These results are robust to imperfect informatio...
