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作者：Veiga, Andre
作者单位：Imperial College London
摘要：Should insurance prices vary with age? I consider competitive markets for lemons where a signal (e.g., age) partitions consumers (e.g., young and old). I study the continuum of policies from zero price discrimination (zero PD, equal prices) to full PD (no restrictions). Restricting PD can increase welfare if high-cost markets exhibit greater adverse selection, or when the high-cost market unravels. I characterize optimal PD and show how it is affected by changes in cost. In a calibration, opti...
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作者：Lewis, Daniel J.
作者单位：University of London; University College London
摘要：I propose to identify announcement-specific decompositions of asset price changes into monetary policy shocks exploiting heteroskedasticity in intraday data, accommodating both changes in the nature of shocks and the state of the economy across announcements. I compute decompositions with respect to Fed Funds, forward guidance, asset purchase, and Fed information shocks from January 1996 to December 2019. The decompositions illustrate which announcements of unconventional policy measures had s...
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作者：Gilraine, Michael; Penney, Jeffrey
作者单位：Simon Fraser University; University of Alberta
摘要：An administrative rule in North Carolina allowed students who failed an exam to retake it approximately two weeks later, triggering a brief yet intense test preparation period. We develop a structural model that accounts for selection and find that these students score much higher on the retest. Using a regression discontinuity design, we find substantial fade-out of the test score gains after one year but some persistence thereafter. Unlike other interventions that produce similar initial inc...
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作者：Ahammer, Alexander; Grubl, Dominik; Winter-Ebmer, Rudolf
作者单位：Johannes Kepler University Linz; Johannes Kepler University Linz
摘要：We show that downsizing has substantial negative effects on the health of workers who remain in the firm. We study mass layoff (ML) sur-vivors in Austria, using workers who survive a ML themselves, but a fewyears in the future, as a control group. Based on high-quality administrativedata, we find evidence that downsizing has persistent effects on mental andphysical health, and that these effects can be explained by workers fear-ing for their own jobs. We also show that health effects due to do...
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作者：Carattini, Stefano; Roesti, Matthias
作者单位：University System of Georgia; Georgia State University; Leibniz Association; Ifo Institut; University of St Gallen
摘要：This paper combines several large-scale surveys and empirical strategies to shed new light on the determinants of cooperative behavior. We provide evidence indicating that the level of trust maximizing subjective well-being tends to be above the income maximizing level. Higher trust is also linked to more cooperative and pro-social behaviors, including the private provision of global public goods such as climate change mitigation. Consistent with warm glow theories of pro-social behavior, our ...
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作者：Vihriaelae, Erkki
作者单位：Aalto University
摘要：I study how intra-household frictions and anchoring contribute to the credit card debt puzzle, the co-holding of high-cost debt, and low-yield liquid assets. First, I find couples co-hold 42% more as units than as individuals relative to income. Moreover, in a natural experiment, couples do not cooperate to reduce high-cost debt, suggesting that intra-household frictions contribute to co-holding. Second, I find individuals who regularly make credit card debt payments equal to or near the minim...
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作者：Bessen, James; Goos, Maarten; Salomons, Anna; van den Berge, Wiljan
作者单位：Boston University; Utrecht University; Tilburg University
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作者：Khanna, Gaurav; Shih, Kevin; Weinberger, Ariel; Xu, Mingzhi; Yu, Miaojie
作者单位：University of California System; University of California San Diego; City University of New York (CUNY) System; Queens College NY (CUNY); George Washington University; Peking University; Liaoning University
摘要：We highlight a lesser-known consequence of China's integration into the world economy: the rise of services trade. We demonstrate how the United States' trade deficit in goods cycles back as a surplus in U.S. exports of education services. Focusing on China's accession to the World Trade Organization, we show that Chinese cities more exposed to trade liberalization sent more students to U.S. universities. Growth in housing income and wealth allowed Chinese families to afford U.S. tuition, and ...
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作者：Schneider, Stephan A.; Kunze, Sven
作者单位：Stockholm University; Leibniz Association; Ifo Institut; Fraunhofer Gesellschaft; Fraunhofer Germany; Fraunhofer Systems & Innovation Research
摘要：Allocations decisions are vulnerable to political influence, but it is unclear in which situations politicians use their discretionary power in a partisan manner. We analyze the allocation of presidential disaster declarations in the United States, exploiting the spatiotemporal randomness of all hurricane strikes from 1965 to 2018 along with changes in political alignment. We show that decisions are unbiased when disasters are either very strong or weak. Only after medium-intensity hurricanes ...
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作者：Schaller, Jessamyn; Eck, Chase
作者单位：Claremont Colleges; Claremont Graduate University; Claremont McKenna College; Baylor College of Medicine
摘要：We use event studies to examine changes in intergenerational financial transfers and informal care within families following wealth loss, job exit, widowhood, and health shocks. We find sharp reductions in giving to adult children following negative shocks to parents' wealth and earned income, particularly in low-wealth households. Giving also decreases with some health shocks and increases following spousal death. Meanwhile, children of low-wealth households increase financial transfers to pa...
