American Economic Journal: Economic Policy

最新文章

• Employed for Higher Pay? How Medicare Payment Rules Affect Hospital Employment of Physicians AI翻译
  作者：Dranove, David; Ody, Christopher
  作者单位：Northwestern University; Analysis Group Inc.
  摘要：Hospitals employ an increasing number of physicians and bill for a growing share of outpatient procedures. We exploit a plausibly exogenous increase in Medicare prices for hospital-employed physicians relative to Medicare prices for other physicians to show that payer reimbursement rules explain part of this trend. The shock we study explains 20 percent of the increase in physician employment and 75 percent of the increase in hospital-billed outpatient procedures between 2009 and 2013.
• Liquidity Constraints of the Middle Class AI翻译
  作者：Campbell, Jeffrey R.; Hercowitz, Zvi
  作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago; Tilburg University; Reichman University; Tel Aviv University
  摘要：Existing evidence from US middle class households shows that their MPCs out of tax rebates greatly exceed the PIH's prediction and are weakly related to their liquid assets. The standard precautionary-saving model predicts the first fact but counterfactually requires MPCs to decrease with liquid wealth. Evidence from the Survey of Consumer Finances indicates widespread saving in anticipation of major expenditures like home purchases and college education. Adding such savings to the standard pr...
• Provider Supply, Utilization, and Infant Health: Evidence from a Physician Distribution Policy AI翻译
  作者：Carrillo, Bladimir; Feres, Jose
  作者单位：Universidade Federal de Vicosa
  摘要：We analyze a policy that substantially expanded the supply of primary care physicians in Brazil. The program increased doctor visits across all age groups and led to greater utilization of doctors for prenatal care. However, these physicians replaced nurse visits for prenatal care without increasing the overall number of visits women receive. We find no evidence of gains in widely used metrics of infant health, including birth weight, gestation, and infant mortality. Together, these findings p...
• Are Consumers Poorly Informed about Fuel Economy? Evidence from Two Experiments AI翻译
  作者：Allcott, Hunt; Knittel, Christopher
  作者单位：New York University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
  摘要：It is often asserted that consumers are poorly informed about and inattentive to fuel economy, causing them to buy low-fuel economy vehicles despite their own best interest. This paper presents evidence on this assertion through two experiments providing fuel economy information to new vehicle shoppers. Results show zero statistical or economic effect on average fuel economy of vehicles purchased. In the context of a simple optimal policy model, the estimates suggest that current and proposed ...
• How Do Tax Incentives Affect Investment and Productivity? Firm-Level Evidence from China AI翻译
  作者：Liu, Yongzheng; Mao, Jie
  作者单位：Renmin University of China; University of International Business & Economics
  摘要：China initiated a major reform for capital taxation in 2004. Completed in 2009, it introduced permanent tax incentives for firms' investment in fixed assets. We explore a unique firm-level dataset from years 2005-2012 and utilize a quasi-experimental design to test the impacts of the reform on firms' investment and productivity. We find that, on average, the reform raised investment and productivity of the treated firms relative to the control firms by 38.4 percent and 8.9 percent, respectivel...
• Who Really Benefits from Consumption Tax Cuts? Evidence from a Large VAT Reform in France AI翻译
  作者：Benzarti, Youssef; Carloni, Dorian
  作者单位：University of California System; University of California Santa Barbara; Congressional Budget Office
  摘要：This paper evaluates the incidence of a large cut in value-added taxes (VATs) (for French sit-down restaurants in 2009. In contrast to previous studies, which. only focus on the price effects of VAT reforms, we estimate the effects of the VAT cut on four groups: workers, firm owners, consumers, and suppliers of material goods. Using a difference-in-differences strategy on firm-level data, we find that: firm owners pocketed more than 55 percent of the VAT cut; consumers, sellers of material goo...
• Judicial Politics and Sentencing Decisions AI翻译
  作者：Cohen, Alma; Yang, Crystal S.
  作者单位：Harvard University; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); Harvard University
  摘要：This paper investigates whether judge political affiliation contributes to racial and gender disparities in sentencing using data on over 500,000 federal defendants linked to sentencing judge. Exploiting random case assignment, we find that Republican-appointed judges sentence black defendants to 3.0 more months than similar nonblacks and female defendants to 2.0 fewer months than similar males compared to Democratic-appointed judges, 65 percent of the baseline racial sentence gap and 17 perce...
• Liquidity Constraint Tightness and Consumer Responses to Fiscal Stimulus Policy AI翻译
  作者：Kreiner, Claus Thustrup; Lassen, David Dreyer; Leth-Petersen, Soren
  作者单位：University of Copenhagen
  摘要：The marginal interest rate is the price at which a household can access additional liquidity. Consumption theory posits that variation in marginal interest rotes across consumers predicts differences in the propensity to spend a stimulus payment. This hypothesis is tested in the context of a Danish 2009 stimulus policy that transformed illiquid pension wealth into liquid wealth. Marginal interest rates ore constructed from administrative records with account level information and merged with s...
• Best Prices: Price Discrimination and Consumer Substitution AI翻译
  作者：Chevalier, Judith A.; Kashyap, Anil K.
  作者单位：Yale University; National Bureau of Economic Research; University of Chicago; Bank of England
  摘要：This paper proposes a method for aggregating prices when retailers use periodic sales to price-discriminate amongst heterogeneous customers. In the motivating model, loyal customers buy one brand and do not strategically time purchases, while Bargain Hunters always pay the lowest price available, the best price. In the model, the best price is part of an exact price index. Accounting for the best price also substantially improves the empirical match between conventional price aggregation strat...
• Does It Matter if Your Health Insurer Is For Profit? Effects of Ownership on Premiums, Insurance Coverage, and Medical Spending AI翻译
  作者：Dafny, Leemore
  作者单位：Harvard University; National Bureau of Economic Research
  摘要：There is limited empirical evidence about the impact of for-profit health insurers on various outcomes. I study the effects of conversions to for-profit status by Blue Cross and Blue Shield (BCBS) affiliates in 11 states, spanning 28 geographic markets. I find both the BCBS affiliate and its rivals increased premiums following conversions in markets where the converting affiliate had substantial market share. Medicaid enrollment rates also increased in these markets, a pattern consistent with ...