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作者：Malikov, Emir; Zhao, Shunan
作者单位：Nevada System of Higher Education (NSHE); University of Nevada Las Vegas; Oakland University
摘要：We develop a novel methodology for the proxy variable identification of firm productivity in the presence of productivity-modifying learning and spillovers, which facilitates a unified internally consistent analysis of the spillover effects among firms. Contrary to the popular two-step empirical approach, ours does not postulate contradictory assumptions about firm productivity across the estimation steps. Instead, we explicitly accommodate cross-sectional dependence in productivity induced by...
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作者：Bai, Ying; Jia, Ruixue
作者单位：Chinese University of Hong Kong; University of California System; University of California San Diego; University of London; London School Economics & Political Science
摘要：We study how political hierarchy shapes regional development in China, using variations driven by regime changes during the 1000-2000 C.E. period. We find that changes in the status of the provincial capital led to the rise and decline of different prefectures as measured by population and urbanization. Two other novel findings stand out: (1) the economic advantages of the provincial capitals did not persist if they lost their political status, and (2) political hierarchy shaped economic devel...
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作者：Asquith, Brian J.; Mast, Evan; Reed, Davin
作者单位：W.E. Upjohn Institute for Employment Research; Federal Reserve System - USA; Federal Reserve Bank - Philadelphia
摘要：We study the local effects of new market-rate housing in low-income areas using microdata on large apartment buildings, rents, and migration. New buildings decrease rents in nearby units by about 6% relative to units slightly farther away or near sites developed later, and they increase in-migration from low-income areas. We show that new buildings absorb many high-income households and increase the local housing stock substantially. If buildings improve nearby amenities, the effect is not lar...
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作者：Fioretti, Michele; Wang, Hongming
作者单位：Institut d'Etudes Politiques Paris (Sciences Po); Hitotsubashi University
摘要：Public procurement bodies increasingly resort to pay-for-performance contracts to promote efficient spending. We show that firm responses to pay-for-performance can widen the inequality in accessing social services. Focusing on the quality bonus payment initiative in Medicare Advantage, we find that higher quality-rated insurers responded to bonus payments by selecting healthier enrollees with premium differences across counties. Selection is profitable because the quality rating fails to adju...
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作者：Ye, Han; Yi, Junjian
作者单位：Lingnan University; Peking University
摘要：Using administrative data from a large and diverse emergency department (ED), we examine the impact of race concordance between patients and physicians on physician decision-making and patient health outcomes. We find that patient-physician race concordance increases consultation time and decreases the probability of inpatient admission and diagnostic testing. Subsequently, race-concordant patients have lower revisit rates after ED discharge. The effect of race concordance is largely driven by...
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作者：Geruso, Michael; Layton, Timothy J. J.; McCormack, Grace; Shepard, Mark
作者单位：University of Texas System; University of Texas Austin; Harvard University; National Bureau of Economic Research
摘要：Insurance markets often feature consumer sorting along both an extensive margin (whether to buy) and an intensive margin (which plan to buy). We present a new graphical theoretical framework that extends a workhorse model to incorporate both selection margins simultaneously. A key insight from our framework is that policies aimed at addressing one margin of selection often involve an economically meaningful trade-off on the other margin in terms of prices, enrollment, and welfare. Using data f...
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作者：Andersson, David; Berger, Thor; Prawitz, Erik
作者单位：Uppsala University; Linkoping University; Research Institute of Industrial Economics (IFN); Lund University
摘要：We exploit exogenous variation arising from the historical rollout of the Swedish railroad network across municipalities to identify the impacts of improved transport infrastructure on innovative activity. A network connection led to a local surge in patenting due to an increased entry and productivity of inventors. As the railroad network expanded, inventors in connected areas began to develop ideas with applications outside the local economy, which were subsequently sold to firms along the n...
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作者：Ben Zeev, Nadav
作者单位：Ben-Gurion University of the Negev
摘要：Recent work stresses a potentially important relation between credit supply shocks and aggregate TFP based on factor misallocation. I take three steps to examine this relation. First, using state-of-the-art credit supply shock and aggregate TFP measures, I show that an adverse credit supply shock has a weak and very short-lived effect on aggregate TFP. Second, using firm-level data, I show that firm-level capital stock responses to an adverse credit supply shock produce an insignificant and ne...
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作者：Goetz, Daniel; Rodnyansky, Alexander
作者单位：University of Toronto; University Toronto Mississauga; University of Cambridge; Centre for Economic Policy Research - UK
摘要：Do firms respond to cost shocks by reducing the quality of their products? Using microdata from a large Russian retailer that refreshes its product line twice-yearly, we document that higher quality products are more profitable than lower quality ones, but that the number of high-quality products experiences a relative decrease after a large ruble devaluation in 2014. We show that rising firm costs-and not shrinking consumer incomes-explains the reallocation, and rationalize the data with a mo...
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作者：Guo, Audrey
作者单位：Santa Clara University
摘要：This paper investigates the extent to which state-level differences in business taxes influence the location decisions of multiestablishment firms. Each state in the United States administers their own unemployment insurance program, and cross-state variation leads to significant tax differences across state lines. This decentralized administration creates opposing employment incentives on the intensive and extensive margins depending on the economic conditions. Studying the locations of multi...
