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作者：Hummels, David; Munch, Jakob R.; Xiang, Chong
作者单位：Purdue University System; Purdue University; National Bureau of Economic Research; University of Copenhagen
摘要：We employ Danish worker-firm data to study the effect of rising workload on health. Using both within-job-spell regression analyses and cohort event studies, we show that increases in firm sales lead workers to log longer hours and experience higher probabilities of stress, depression, heart disease, and strokes, with more pronounced effects for high-risk groups such as older workers, job-strained workers, and those with long initial work hours. We calculate that the average worker's ex ante w...
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作者：Bartels, Charlotte; Kersting, Felix; Wolf, Nikolaus
作者单位：Leipzig University; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; Centre for Economic Policy Research - UK; Humboldt University of Berlin; Leibniz Association; Ifo Institut
摘要：We study the dynamics of capital accumulation, income inequality, capital concentration, and voting up to 1914. Based on new panel data for Prussian regions, we reevaluate the famous revisionism debate between orthodox Marxists and their critics. We show that changes in capital accumulation led to a rise in the capital share and income inequality, as predicted by orthodox Marxists. But against their predictions, this neither led to further capital concentration nor more votes for the socialist...
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作者：Xie, Shihan
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：This paper proposes and estimates a dynamic model of household inflation expectations with information frictions and time-varying parameters, where households use a Bayesian learning model to form and update inflation expectations. The model decomposes households' inflation expectation formation process into a learning component, a noisy signal component, and a measurement component. Model-implied household inflation expectations provide a robust fit for the expectation-augmented Phillips curv...
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作者：Hagemann, Andreas
作者单位：University of Michigan System; University of Michigan
摘要：I introduce a simple permutation procedure to test conventional (nonsharp) hypotheses about the effect of a binary treatment in the presence of a finite number of large, heterogeneous clusters when the treatment effect is identified by comparisons across clusters. The procedure asymptotically controls size by applying a level-adjusted permutation test to a suitable statistic. The adjusted permutation test is easy to implement in practice and performs well at conventional levels of significance...
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作者：Genesove, David; Hansen, James
作者单位：Hebrew University of Jerusalem; University of Melbourne
摘要：We shed light on housing price inertia by investigating how the home-sale mechanism affects housing price dynamics. Using Australian data, we find that auction prices forecast better and display less momentum than negotiated prices. These findings are robust to alternative price measurements and different sample selection corrections. Motivated by microtheory that predicts different weights for buyer and seller values in auction and negotiated prices, we decompose housing prices into two diffu...
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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：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：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...
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作者：Advani, Arun; Koenig, Felix; Pessina, Lorenzo; Summers, Andy
作者单位：University of Warwick; University of London; London School Economics & Political Science; Carnegie Mellon University; Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW); University of London; London School Economics & Political Science
摘要：Using administrative data on the universe of U.K. taxpayers, we study the contribution of migrants to the rise in U.K. top incomes. We show that migrants are over-represented at the top of the income distribution, with migrants twice as prevalent in the top 0.01% as anywhere in the bottom 97% of taxpayers. These high incomes are predominantly from labor, rather than capital, and migrants are concentrated in only a handful of industries, predominantly finance. All of the observed growth in the ...
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作者：Browne, Oliver R.; Gazze, Ludovica; Greenstone, Michael; Rostapshova, Olga
作者单位：University of Warwick; University of Chicago
摘要：New technologies allow perfect detection of environmental violations at near-zero marginal cost, but take-up is low. We conducted a field experiment to evaluate enforcement of water conservation rules with smart meters in Fresno, CA. Households were randomly assigned combinations of enforcement method (automated or in-person inspections) and fines. Automated enforcement increased households' punishment rates from 0.1% to 14%, decreased summer water use by 3%, and reduced violations by 17%, whi...
