-
作者：Faia, Ester; Fuster, Andreas; Pezone, Vincenzo; Zafar, Basit
作者单位：Goethe University Frankfurt; Centre for Economic Policy Research - UK; Swiss Federal Institutes of Technology Domain; Ecole Polytechnique Federale de Lausanne; Swiss Finance Institute (SFI); Tilburg University; University of Michigan System; University of Michigan; National Bureau of Economic Research
摘要：We conduct two survey experiments to study which information people choose to consume and how it affects their beliefs. In the first experiment, respondents choose between optimistic and pessimistic article headlines related to the COVID-19 pandemic and are then randomly shown one of the articles. Respondents with more pessimistic prior beliefs tend to prefer pessimistic headlines, providing evidence of confirmation bias. Additionally, respondents assigned to the less preferred article discoun...
-
作者：Demir, Banu; Javorcik, Beata; Michalski, Tomasz K.; Ors, Evren
作者单位：Ihsan Dogramaci Bilkent University; Centre for Economic Policy Research - UK; University of Oxford; Hautes Etudes Commerciales (HEC) Paris
摘要：We examine the propagation of a small unexpected supply shock through a production network and the role financial constraints play in its transmission. Using data on almost all Turkish supplier-customer links, we exploit the heterogeneous impact of an unexpected import-tax increase for identification. We find that this relatively minor shock had a nontrivial economic impact on exposed firms and propagated downstream through affected suppliers. Importantly, we show that low-liquidity firms ampl...
-
作者：Bonilla-Mejia, Leonardo; Morales, Juan S.
作者单位：Banco de la Republica Colombia
摘要：This paper studies the executive-legislative exchange of centrally allocated benefits (jam) for legislative support in Colombia using data from road building projects, legislative roll-call votes, and a leaked database which uncovered the assignment of road contracts to individual legislators. We draw hypotheses from a model in which an executive spreads jam to sway legislators. We document that assigned projects had excess costs, legislators targeted were more likely to be swing voters in con...
-
作者：Ruffini, Krista
作者单位：Georgetown University
摘要：paper examines whether higher earnings for frontline workers affects the quality of employees' output. I leverage increases in the statutory minimum wage, combined with worker, consumer, and firm outcomes in the nursing home sector. I find that higher minimum wages increase income and retention among low-wage employees and improve consumer outcomes, measured by fewer inspection violations; lower rates of adverse, preventable health conditions; and lower resident mortality. Firms maintain profi...
-
作者：Broer, Tobias; Kohlhas, Alexandre N.
作者单位：Paris School of Economics; University of Oxford
摘要：We document two stylized facts in expectational survey data. First, professional forecasters overrevise their macroeconomic expectations. Second, such overrevisions mask evidence of both over- and underreactions to public signals. We show that the first fact is inconsistent with standard models of noisy rational expectations, but consistent with behavioral and strategic models. The second fact, in contrast, presents a puzzle for existing theories. We propose an extension of noisy rational expe...
-
作者：Caria, Stefano A.; Falco, Paolo
作者单位：University of Warwick; University of Copenhagen
摘要：Does low trust in workers discourage firms from hiring? We conduct an experiment in Ghana with real entrepreneurs who have the option to hire anonymous workers for a trivial but tedious task. Shirking attracts no penalty and completion of the task is an indicator of trustworthiness. We elicit employers' expectations and study how they change with random signals of workers' previous behavior. We find that employers underestimate workers' trustworthiness, which reduces hiring and profits. Negati...
-
作者：Riley, Emma
作者单位：University of Michigan System; University of Michigan
摘要：This paper presents experimental evidence on the impact of a role model on secondary school students' exam performance in Uganda. Students were individually randomized to see either a movie featuring a female role model, Queen of Katwe, or to see a placebo movie. I find that treatment with the role model immediately before an important national exam leads to students performing better on their exams, particularly in math, with effects largest for female students. Female students exposed to the...
-
作者：Angrist, Joshua; Hull, Peter; Pathak, Parag A.; Walters, Christopher
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Brown University; University of California System; University of California Berkeley
摘要：We introduce two empirical strategies harnessing the randomness in school assignment mechanisms to measure school value-added. The first estimator controls for the probability of school assignment, treating take-up as ignorable. We test this assumption using randomness in assignments. The second approach uses assignments as instrumental variables (IVs) for low-dimensional models of value-added and forms empirical Bayes posteriors from these IV estimates. Both strategies solve the underidentifi...
-
作者：Santoleri, Pietro; Mina, Andrea; Di Minin, Alberto; Martelli, Irene
作者单位：Scuola Superiore Sant'Anna; University of Cambridge
摘要：We leverage the discontinuity in the assignment mechanism of the Small and Medium Enterprise Instrument-the first European research and development (R&D) subsidy targeting small firms-to provide the broadest quasi-experimental evidence on R&D grants over both geographical and sectoral scopes. Grants trigger sizable impacts on a wide range of firm-level outcomes. Heterogeneous effects are consistent with grants reducing financial frictions. This reduction is due to funding rather than certifica...
-
作者：Russell, Lauren C.; Yu, Lei; Andrews, Michael J.
作者单位：University of Pennsylvania; University System of Maryland; University of Maryland College Park
摘要：We investigate how the presence of a college affects local educational attainment. As counterfactuals for current college locations, we use historical runner-up locations that were strongly considered to become college sites but were ultimately not chosen. We find that winning counties today have college degree attainment rates 56% higher than runner-up counties and more private-sector employment in human-capital-intensive industries. These effects are not driven primarily by recent in-migrati...
