Review of Economics and Statistics

最新文章

• What Are Cities Worth? Land Rents, Local Productivity, and the Total Value of Amenities AI翻译
  作者：Albouy, David
  作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; National Bureau of Economic Research
  摘要：This paper models how to use widely available data on wages and housing costs to infer land rents, local productivity, and the total value of local amenities in the presence of federal taxes and locally produced nontraded goods. I apply the model to U.S. metropolitan areas with the aid of visually intuitive graphs. The results improve measures of productivity and feature large differences in land rents. Wage and housing cost differences across metropolitan areas are accounted for more by produ...
• Human Capital and the Supply of Religion AI翻译
  作者：Engelberg, Joseph; Fisman, Raymond; Hartzell, Jay C.; Parsons, Christopher A.
  作者单位：University of California System; University of California San Diego; Columbia University; University of Texas System; University of Texas Austin
  摘要：We study the role of labor inputs in religious attendance using data on Oklahoma Methodist congregations from 1961 to 2003. Pastors play a significant role in church growth: replacing a 25th percentile pastor with a 75th percentile one increases annual attendance growth by 3%. A pastor's performance in his or her first church (largely the result of random assignment) predicts future performance, suggesting a causal effect of pastors on growth. The deployment of pastors by the church indicates ...
• The Role of Interchange Fees in Two-Sided Markets: An Empirical Investigation on Payment Cards AI翻译
  作者：Carbo Valverde, Santiago; Chakravorti, Sujit; Rodriguez Fernandez, Francisco
  作者单位：Bangor University; Federal Reserve System - USA; Federal Reserve Bank - Chicago; University of Granada
  摘要：We study the impact of reductions in interchange fees on payment card services. We find that consumer and merchant acceptance and transaction volumes increased when interchange fees were reduced. Our results suggest that a 10% reduction in the rate of decline per quarter in the average interchange fee by an acquirer resulted in a rate of increase in merchant acceptance per quarter of up to 1.4%. In addition, a 10% increase in the rate of interaction of merchant acceptance and the total number ...
• WHEN WAR COMES HOME: THE EFFECT OF COMBAT SERVICE ON DOMESTIC VIOLENCE AI翻译
  作者：Cesur, Resul; Sabia, Joseph J.
  作者单位：University of Connecticut; University System Of New Hampshire; University of New Hampshire; United States Department of Defense; United States Army
  摘要：This study is the first to estimate the effect of war service in the Global War on Terrorism on domestic violence. We exploit a natural experiment in overseas deployment assignment among active-duty servicemen by relying on theoretical and empirical evidence that, conditional on military rank and occupation, deployment assignments are orthogonal to the propensity for violence. Our results show that assignment to combat substantially increases the probability of intimate partner violence and ch...
• Measuring Rationality with the Minimum Cost of Revealed Preference Violations AI翻译
  作者：Dean, Mark; Martin, Daniel
  作者单位：Brown University; Paris School of Economics
  摘要：We introduce a new measure of how close a set of choices is to satisfying the observable implications of rationality and apply it to a large, balanced panel of household level consumption data. This new measure, the minimum cost index, is the minimum cost of breaking all revealed preference cycles found in choices from budget sets. Unlike existing measures of rationality, it responds to both the number and severity of revealed preference violations.
• Looking for Local Labor Market Effects of NAFTA AI翻译
  作者：Hakobyan, Shushanik; McLaren, John
  作者单位：Fordham University; University of Virginia
  摘要：Using U.S. Census data for 1990 to 2000, we estimate effects of NAFTAon U.S.wages.We look for effects of the agreement by industry and by geography, measuring each industry's vulnerability to Mexican imports and each locality's dependence on vulnerable industries. We find evidence of both effects, dramatically lowering wage growth for blue-collar workers in the most affected industries and localities (even for service-sector workers in affected localities, whose jobs do not compete with import...
• What Hinders Investment in the Aftermath of Financial Crises: Insolvent Firms or Illiquid Banks? AI翻译
  作者：Kalemli-Ozcan, Sebnem; Kamil, Herman; Villegas-Sanchez, Carolina
  作者单位：University System of Maryland; University of Maryland College Park; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; Universitat Ramon Llull; Escuela Superior de Administracion y Direccion de Empresas (ESADE)
  摘要：We quantify the effects of lending and balance sheet channels on corporate investment during large devaluations. We find that if currency crises are accompanied by banking crises, domestic exporters holding unhedged foreign currency debt decrease investment while foreign exporters with better access to credit increase investment despite their unhedged foreign currency debt. We do not find such a differential effect under pure currency crises. Using firm-bank matched data during the global fina...
• Regional Policy Evaluation: Interactive Fixed Effects and Synthetic Controls AI翻译
  作者：Gobillon, Laurent; Magnac, Thierry
  作者单位：Paris School of Economics; Centre National de la Recherche Scientifique (CNRS); Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
  摘要：In this paper, we investigate the use of interactive effect or linear factor models in regional policy evaluation. We contrast treatment effect estimates obtained using Bai (2009) with those obtained using difference in differences and synthetic controls (Abadie and coauthors). We show that difference in differences are generically biased, and we derive support conditions for synthetic controls. We construct Monte Carlo experiments to compare these estimation methods in small samples. As an em...
• RISKY CHOICE IN THE LIMELIGHT AI翻译
  作者：Baltussen, Guido; van den Assem, Martijn J.; van Dolder, Dennie
  作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Vrije Universiteit Amsterdam; University of Nottingham
  摘要：This paper examines how risk behavior in the limelight differs from that in anonymity. In two separate experiments, we find that subjects are more risk averse in the limelight. However, risky choices are similarly path dependent in the different treatments. Under both limelight and anonymous laboratory conditions, a simple prospect theory model with a path-dependent reference point provides a better explanation for subjects' behavior than a flexible specification of expected utility theory. In...
• Credit Standards and Segregation AI翻译
  作者：Ouazad, Amine; Ranciere, Romain
  作者单位：Institut Polytechnique de Paris; Ecole Polytechnique; University of Southern California
  摘要：This paper explores the effects of changes in lending standards on racial segregation within metropolitan areas. Such changes affect neighborhood choices as well as aggregate prices and quantities in the housing market. Using the credit boom of 2000 to 2006 as a large-scale experiment, we put forward an IV strategy that predicts the relaxation of credit standards as the result of a credit supply shock predominantly affecting liquidity-constrained banks. The relaxed lending standards led to sig...