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作者：Benzarti, Youssef
作者单位：University of California System; University of California Santa Barbara; National Bureau of Economic Research
摘要：This paper uses the universe of mortgage contracts to estimate the response of high-interest lenders to borrower protection regulations aimed at simplifying and making loan terms more transparent. Using a quasi-experimental design, I find that lenders substantially reduce interest rates-by an average of 10%-in order to avoid being subject to borrower protection, without reducing amounts loaned or the number of loans approved. This finding is consistent with high-interest lenders preferring to ...
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作者：Costa, Francisco; Nunes, Leticia; Sanches, Fabio Miessi
作者单位：University of Delaware; Getulio Vargas Foundation; Insper; BI Norwegian Business School
摘要：This paper exploits location choices of all generalist physicians who graduated in Brazil between 2001 and 2013 to study policies aimed at increasing the supply of physicians in underserved areas. We set up and estimate a supply and demand model for physicians. We estimate physicians' locational preferences using a random coefficients discrete choice model. The demand has private establishments competing for physicians with private and public facilities around the country. Policy counterfactua...
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作者：Friedberg, Leora; Isaac, Elliott
作者单位：University of Virginia; Tulane University
摘要：The U.S. income tax code encourages marriage for some and discourages marriage for others, but same-sex couples were only recently exposed to these incentives. We estimate marriage responses by exploiting variation in the recognition of same-sex marriages for tax purposes versus earlier papers leveraging smaller changes. Using the American Community Survey, which reports cohabitation and marriage, we estimate a significant though very small marriage elasticity, with further analysis suggesting...
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作者：Archakov, Ilya; Hansen, Peter Reinhard
作者单位：University of Vienna; University of Vienna; Copenhagen Business School; Copenhagen Business School
摘要：We obtain a canonical representation for block matrices. The representation facilitates simple computation of the determinant, the matrix inverse, and other powers of a block matrix, as well as the matrix logarithm and the matrix exponential. These results are particularly useful for block covariance and block correlation matrices, where evaluation of the Gaussian log-likelihood and estimation are greatly simplified. We illustrate this with an empirical application using a large panel of daily...
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作者：Carballo, Jeronimo; Graziano, Alejandro G.; Schaur, Georg; Martincus, Christian Volpe
作者单位：University of Colorado System; University of Colorado Boulder; University of Nottingham; University of Tennessee System; University of Tennessee Knoxville; Leibniz Association; Ifo Institut; Inter-American Development Bank
摘要：In this paper, we estimate the trade effects of a transit system upgrading that streamlines border processing in developing countries. Our empirical approach combines transaction-level export data from El Salvador with unique data that distinguishes export flows that were processed on the transit system. Our results indicate that the new transit system lowered regulatory border costs and raised exports. At the low end, our back-of-the-envelope estimate of the return to investment is US$ 3-to-1...
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作者：Goodkin-Gold, Matthew; Kremer, Michael; Snyder, Christopher M.; Williams, Heidi
作者单位：Harvard University; University of Chicago; National Bureau of Economic Research; Dartmouth College
摘要：We analyze optimal vaccine subsidies in a model integrating disease epidemiology into a market with rational economic agents. The focus is on an intensive vaccine campaign to quell an epidemic in the short run. Across a range of market structures, positive vaccine externalities and optimal subsidies peak for diseases that spread quickly, but not so quickly that everyone is driven to be vaccinated. We assess the practical relevance of this peak-as well as the existence of increasing social retu...
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作者：Jeong, Dahyeon; Shenoy, Ajay
作者单位：The World Bank; University of California System; University of California Santa Cruz
摘要：A party's influence over redistricting increases discontinuously when its seat share in the state legislature exceeds 50%. We apply bunching tests to show that, in the election before redistricting, parties systematically win narrow majorities in legislatures of states where they have lost recent U.S. House races. This trend of losses is reversed after redistricting despite no change in overall House vote shares in states near the cutoff. The pre-to-post-redistricting change in regression disc...
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作者：de Andersen, Henrik Y.; Bech, Stine Ludvig; De Stefani, Alessia
作者单位：International Monetary Fund
摘要：We study how homeowners' consumption responds to a negative and anticipated disposable income shock: the beginning of the amortization period on interest-only mortgages. We identify spending behavior through an event study approach, by matching loan-level data that covers the universe of Danish mortgages to detailed administrative registries on borrowers. In response to an average increase in installments worth 9% of income, consumption drops by 3% of income, when amortization begins. The redu...
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作者：Lu, Yao; Shi, Xinzheng; Sivadasan, Jagadeesh; Xu, Zhufeng
作者单位：Tsinghua University; Central University of Finance & Economics
摘要：We collect worker month-level panel data from two companies in Beijing for a two-year period before and after the opening of a nearby subway station, which significantly improved public transportation commutes for some workers. We find a significant difference-in-differences increase (12.6% of the standard deviation) in bonus pay, which is strongly correlated to worker-level performance measures, for affected workers relative to unaffected coworkers. We find no evidence that the improved perfo...
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作者：Gross, Tal; Sacarny, Adam; Shi, Maggie; Silver, David
作者单位：Boston University; National Bureau of Economic Research; Columbia University; University of Chicago; University of California System; University of California Santa Barbara
摘要：We study a 2008 policy reform in which Medicare revised its hospital payment system to better reflect patients' severity of illness. We construct a simulated instrument that predicts a hospital's policy-induced change in reimbursement using pre-reform patients and postreform rules. The reform led to large persistent changes in Medicare payment rates across hospitals. Hospitals that faced larger gains in Medicare reimbursement increased the volume of Medicare patients they treated. The estimate...
