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作者：Carvalho, Carlos; Dam, Niels Arne; Lee, Jae Won
作者单位：Pontificia Universidade Catolica do Rio de Janeiro; University of Virginia
摘要：We provide evidence on three mechanisms that can reconcile frequent individual price changes with sluggish aggregate price dynamics. To that end, we estimate a semistructural model that can extract information about real rigidities and the distribution of price stickiness from aggregate data. Hence, the model can also speak to the debate about the aggregate implications of sales. Our estimates indicate large real rigidities and substantial heterogeneity in price stickiness. Moreover, the cross...
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作者：Roche, Maria P.
作者单位：University System of Georgia; Georgia Institute of Technology; Harvard University
摘要：In this paper, we analyze how the physical layout of cities affects innovation by influencing the organization of knowledge exchange. We exploit a novel data set covering all census block groups in the contiguous United States with information on innovation outcomes, street infrastructure, as well as population and workforce characteristics. To deal with concerns of omitted variable bias, we apply commuting zone fixed effects and construct instruments based on historic city planning. The resul...
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作者：Kuka, Elira
作者单位：George Washington University; IZA Institute Labor Economics; National Bureau of Economic Research
摘要：While the unemployment insurance (UI) program is one of the largest safety net programs in the United States, research on its benefits is limited. This paper exploits plausibly exogenous changes in state UI laws to empirically estimate whether UI generosity mitigates any of the previously documented negative health effects of job loss. The results show that higher UI generosity increases health insurance coverage and utilization, with stronger effects during periods of high unemployment rates....
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作者：Kim, Hyuncheol Bryant; Kim, Seonghoon; Kim, Thomas T.
作者单位：Hong Kong University of Science & Technology; Cornell University; Singapore Management University; University System of Ohio; Ohio State University
摘要：We study how career and wage incentives affect labor productivity through self-selection and incentive effect channels using a two-stage field experiment in Malawi. First, recent secondary school graduates were hired with either career or wage incentives. After employment, half of the workers with career incentives randomly received wage incentives, and half of the workers with wage incentives randomly received career incentives. Career incentives attract higher-performing workers than wage in...
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作者：Wu, Alice H.
作者单位：Harvard University
摘要：This paper measures gender bias in discussions about women versus men in an online professional forum. I study the content of posts that refer to each gender and the transitions in the topics between consecutive posts once attention turns to one gender or the other. Discussions about women tend to emphasize their personal characteristics instead of professional accomplishments. Posts about women are also more likely to lead to deviations from professional topics than are posts about men. I int...
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作者：Bernardini, Marco; De Schryder, Selien; Peersman, Gert
作者单位：European Central Bank; Bank of Italy; Ghent University
摘要：We use novel quarterly data of U.S. states to examine the dynamics of relative spending multipliers in the decade surrounding the Great Recession. While multipliers were around 1 in expansions, they reached values above 4 when a state was in a recession. Also a high (low) degree of household indebtedness augmented (lowered) a state's multiplier by 0.5 in expansions and 2 in recessions. We further document modest positive spillover effects across states and show that a mere redistribution of sp...
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作者：Papageorge, Nicholas W.; Gershenson, Seth; Kang, Kyung Min
作者单位：Johns Hopkins University; National Bureau of Economic Research; American University; IZA Institute Labor Economics; Shanghai University of Finance & Economics
摘要：We show that tenth-grade teacher expectations affect students' likelihood of college completion. Our approach leverages a unique feature of a nationally representative dataset: two teachers provided their educational expectations for each student. Identification exploits teacher disagreements about the same student, an idea we formalize using a measurement error model. We estimate an elasticity of college completion with respect to teachers' expectations of 0.12. On average, teachers are overl...
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作者：Hoenen, Sebastian; Kolympiris, Christos
作者单位：Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; University of Warwick
摘要：We show that academics with experience in government jobs generate spillovers for their early-career colleagues. Our template is the National Science Foundation rotation program in which the agency employs academics, called rotators, on loan from their university. Within two years after the rotator's return, fresh assistant professors in her department increase their research resources materially and are more likely to win small and medium-size grants compared to academics in three control gro...
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作者：Aliprantis, Dionissi; Richter, Francisca G. -C.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Cleveland; University System of Ohio; Case Western Reserve University
摘要：This paper estimates neighborhood effects on adult labor market outcomes using the Moving to Opportunity (MTO) housing mobility experiment. We propose and implement a new strategy for identifying transition-specific effects that exploits identification of the unobserved component of a neighborhood choice model. Estimated local average treatment effects (LATEs) are large, result from moves between the first and second deciles of the national distribution of neighborhood quality, and pertain to ...
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作者：Bundick, Brent; Smith, A. Lee
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Kansas City
摘要：We examine the macroeconomic effects of forward guidance shocks at the zero lower bound. Empirically, we identify forward guidance shocks using unexpected changes in futures contracts around monetary policy announcements. We then embed these policy shocks in a vector autoregression to trace out their macroeconomic implications. Forward guidance shocks that lower expected future policy rates lead to moderate increases in economic activity and inflation. After examining forward guidance shocks i...
