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作者：Ehrmann, Michael; Fratzscher, Marcel
摘要：How and why do politicians' preferences about monetary policy differ from the interest rates set by independent central banks? Looking at the European Central Bank (ECB), this paper shows that politicians, on average, favor significantly lower interest rates. Three factors explain the different preferences. First, politicians put relatively less weight on inflation (and more on output) in their preferred monetary policy reaction function. Second, their preferences are affected by political eco...
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作者：Almond, Douglas; Hoynes, Hilary W.; Schanzenbach, Diane Whitmore
作者单位：Columbia University; National Bureau of Economic Research; University of California System; University of California Davis; Northwestern University
摘要：This paper evaluates the health impacts of a signature initiative of the War on Poverty: the introduction of the modern Food Stamp Program (FSP). Using variation in the month FSP began operating in each U.S. county, we find that pregnancies exposed to FSP three months prior to birth yielded deliveries with increased birth weight, with the largest gains at the lowest birth weights. We also find small but statistically insignificant improvements in neonatal mortality. We conclude that the sizabl...
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作者：Martorell, Paco; McFarlin, Isaac, Jr.
作者单位：RAND Corporation; University of Michigan System; University of Michigan; University of Texas System; University of Texas Dallas
摘要：Providing remedial (also known as developmental) education is the primary way colleges cope with students who do not have the academic preparation needed to succeed in college-level courses. Remediation is widespread, with nearly one-third of entering freshmen taking remedial courses at an annual cost of at least $1 billion. Despite its prevalence, there is uncertainty surrounding its short- and longer-run effects. This paper presents new evidence on this question using longitudinal administra...
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作者：Card, David; Ransom, Michael
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; Brigham Young University
摘要：Defined contribution pensions in many postsecondary institutions are funded by a combination of an employer premium and a mandatory employee premium. Individuals can also contribute to a supplemental savings account. Holding constant total compensation, standard reasoning suggests that supplemental savings should depend negatively on the sum of the employer and employee pension contributions. Contrarily, we find that the supplementary savings of professors are significantly more sensitive to e...
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作者：Morikawa, Masayuki
摘要：This study aims to empirically investigate the determinants of service industry productivity, such as economies of scale and economies of density. By using establishment-level data related to personal service industries in Japan, the study estimates the production functions for both value-added and physical output measures. In almost all the service industries examined, significant economies of scale and economies of density are observed, wherein productivity increases by 7% to 15% when the mu...
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作者：Davis, Lucas W.
作者单位：National Bureau of Economic Research
摘要：This paper uses restricted census microdata to examine housing values and rents for neighborhoods in the United States where power plants were opened during the 1990s. Compared to neighborhoods with similar housing and demographic characteristics, neighborhoods within 2 miles of plants experienced 3%-7% decreases in housing values and rents, with some evidence of larger decreases within 1 mile and for large-capacity plants. In addition, there is evidence of taste-based sorting, with neighborho...
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作者：Redding, Stephen J.; Sturm, Daniel M.; Wolf, Nikolaus
作者单位：Princeton University; University of London; London School Economics & Political Science; Humboldt University of Berlin
摘要：A central prediction of a large class of theoretical models is that industry location is not uniquely determined by fundamentals. Despite the theoretical prominence of this idea, there is little systematic evidence in support of its empirical relevance. This paper exploits the division of Germany after World War II and the reunification of East and West Germany as an exogenous shock to industry location. Focusing on a particular economic activity, an air hub, we develop a body of evidence that...
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作者：Reber, Sarah J.
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research
摘要：School desegregation might have induced unintended behavioral responses of white families as well as state and local governments. This paper examines these responses and is the first to study the effects of desegregation on the finances of school districts. Desegregation induced white flight from blacker to whiter public school districts and to private schools, but the local property tax base and local revenue were not adversely affected. The state legislature directed significant new funding ...
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作者：Conley, Timothy G.; Taber, Christopher R.
作者单位：University of Chicago; University of Wisconsin System; University of Wisconsin Madison
摘要：In difference-in-differences applications, identification of the key parameter often arises from changes in policy by a small number of groups. In contrast, typical inference assumes that the number of groups changing policy is large. We present an alternative inference approach for a small (finite) number of policy changers, using information from a large sample of nonchanging groups. Treatment effect point estimators are not consistent, but we can consistently estimate their asymptotic distr...
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作者：Just, David R.; Wansink, Brian
作者单位：Cornell University
摘要：Are price and consumption independent in flat-rate price service contexts? A field experiment at an all-you-can-eat pizza restaurant shows that a 50% discount on the price of the meal led customers to consume 27.9% less pizza (2.95 versus 4.09 pieces). A second analysis indicated that individual taste ratings of this pizza tended to be inversely related to how much is consumed. One possible interpretation of these two findings is that individuals in a flat-rate (or fixed-price) context may con...
