-
作者：Bayer, Patrick; Hjalmarsson, Randi; Pozen, David
作者单位：Duke University; National Bureau of Economic Research; University System of Maryland; University of Maryland College Park; Yale University
摘要：This paper analyzes the influence that juvenile offenders serving time in the same correctional facility have on each other's subsequent criminal behavior. The analysis is based on data on over 8,000 individuals serving time in 169 juvenile correctional facilities during a two-year period in Florida. These data provide a complete record of past crimes, facility assignments, and arrests and adjudications in the year following release for each individual. To control for the nonrandom assignment ...
-
作者：Almond, Douglas; Edlund, Lena; Palme, Marten
作者单位：Columbia University; National Bureau of Economic Research; Stockholm University
摘要：We use prenatal exposure to Chernobyl fallout in Sweden as a natural experiment inducing variation in cognitive ability. Students born in regions of Sweden with higher fallout performed worse in secondary school, in mathematics in particular. Damage is accentuated within families (i.e., siblings comparison) and among children born to parents with low education. In contrast, we detect no corresponding damage to health outcomes. To the extent that parents responded to the cognitive endowment, we...
-
作者：Leider, Stephen; Moebius, Markus M.; Rosenblat, Tanya; Do, Quoc-Anh
作者单位：University of Michigan System; University of Michigan; Harvard University; National Bureau of Economic Research; Iowa State University; Singapore Management University
摘要：We conducted online field experiments in large real-world social networks in order to decompose prosocial giving into three components: (1) baseline altruism toward randomly selected strangers, (2) directed altruism that favors friends over random strangers, and (3) giving motivated by the prospect of future interaction, Directed altruism increases giving to friends by 52% relative to random strangers, whereas future interaction effects increase giving by an additional 24% when giving is socia...
-
作者：Dustmann, Christian; Ludsteck, Johannes; Schoenberg, Uta
作者单位：University of London; University College London
摘要：This paper shows that wage inequality in West Germany has increased over the past three decades, contrary to common perceptions. During the 1980s, the increase was concentrated at the top of the distribution; in the 1990s, it occurred at the bottom end as well. Our findings are consistent with the view that both in Germany and in the United States, technological change is responsible for the widening of the wage distribution at the top. At the bottom of the wage distribution, the increase in i...
-
作者：Philippon, Thomas
作者单位：New York University; National Bureau of Economic Research
摘要：I propose an implementation of the q-theory of investment using bond prices instead of equity prices. Credit risk makes corporate bond prices sensitive to future asset values, and q can be inferred from bond prices. With aggregate U. S. data, the bond market's q fits the investment equation six times better than the usual measure of q, it drives out cash flows, and it reduces the implied adjustment costs by more than an order of magnitude. Theoretical interpretations for these results are disc...
-
作者：Lalive, Rafael; Zweimueller, Josef
作者单位：University of Lausanne; University of Zurich
摘要：This paper analyzes the effects of changes in the duration of paid, job-protected parental leave on mothers' higher-order fertility and postbirth labor market careers. Identification is based on a major Austrian reform increasing the duration of parental leave from one year to two years for any child born on or after July 1, 1990. We find that mothers who give birth to their first child immediately after the reform have more second children than prereform mothers, and that extended parental le...
-
作者：Ferreira, Fernando; Gyourko, Joseph
作者单位：University of Pennsylvania; National Bureau of Economic Research
摘要：Are cities as politically polarized as states and countries? No is the answer from our regression discontinuity design analysis, which shows that whether the mayor is a Democrat or a Republican does not affect the size of city government, the allocation of local public spending, or crime rates. However, there is a substantial incumbent effect for mayors. We investigate three mechanisms that could account for the striking lack of partisan impact at the local level, and find the most support for...
-
作者：Hsieh, Chang-Tai; Klenow, Peter J.
作者单位：University of Chicago; Stanford University; National Bureau of Economic Research; National Bureau of Economic Research
摘要：Resource misallocation can lower aggregate total factor productivity (TFP). We use microdata on manufacturing establishments to quantify the potential extent of misallocation in China and India versus the United States. We measure sizable gaps in marginal products of labor and capital across plants within narrowly defined industries in China and India compared with the United States. When capital and labor are hypothetically reallocated to equalize marginal products to the extent observed in t...
-
作者：Alvarez, Fernando; Atkeson, Andrew; Edmond, Chris
作者单位：University of Chicago; National Bureau of Economic Research; University of California System; University of California Los Angeles; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; New York University; University of Melbourne
摘要：We examine the responses of prices and inflation to monetary shocks in an inventory-theoretic model of money demand. We show that the price level responds sluggishly to an exogenous increase in the money stock because the dynamics of households' money inventories leads to a partially offsetting endogenous reduction in velocity. We also show that inflation responds sluggishly to an exogenous increase in the nominal interest rate because changes in monetary policy affect the real interest rate. ...
-
作者：Card, David; Dobkin, Carlos; Maestas, Nicole
作者单位：University of California System; University of California Berkeley; University of California System; University of California Santa Cruz; RAND Corporation
摘要：Health insurance characteristics shift at age 65 as most people become eligible for Medicare. We measure the impacts of these changes on patients who are admitted to hospitals through emergency departments for conditions with similar admission rates on weekdays and weekends. The age profiles of admissions and comorbidities for these patients are smooth at age 65, suggesting that the severity of illness is similar on either side of the Medicare threshold. In contrast, the number of procedures p...
