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作者：Ishimaru, Shoya
作者单位：Hitotsubashi University
摘要：This study proposes an econometric framework to interpret and empirically decompose the difference between instrumental variables (IV) and ordinary least squares (OLS) estimates given by a linear regression model when the true causal effects of the treatment are nonlinear in treatment levels and heterogeneous across covariates. I show that the IV-OLS coefficient gap consists of three estimable components: the difference in weights on the covariates, the difference in weights on the treatment l...
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作者：Benzarti, Youssef
作者单位：University of California System; University of California Santa Barbara; National Bureau of Economic Research
摘要：This paper uses the universe of mortgage contracts to estimate the response of high-interest lenders to borrower protection regulations aimed at simplifying and making loan terms more transparent. Using a quasi-experimental design, I find that lenders substantially reduce interest rates-by an average of 10%-in order to avoid being subject to borrower protection, without reducing amounts loaned or the number of loans approved. This finding is consistent with high-interest lenders preferring to ...
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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...
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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...
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作者：Blumenstock, Joshua E.; Callen, Michael; Ghani, Tarek; Gonzalez, Robert
作者单位：University of California System; University of California Berkeley; University of London; London School Economics & Political Science; Washington University (WUSTL); University System of Georgia; Georgia Institute of Technology
摘要：We provide evidence that violence reduces the adoption and use of mobile money in three separate empirical settings in Afghanistan. First, analyzing nationwide mobile money transaction logs, we find that users exposed to violence reduce use of mobile money. Second, using panel survey data from a field experiment, we show that subjects expecting violence are significantly less likely to respond to random inducements to use mobile money. Finally, analyzing nationwide financial survey data, we fi...
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作者：Gonzalez-Diaz, Julio; Palacios-Huerta, Ignacio; Abuin, Jose M.
作者单位：Universidade de Santiago de Compostela
摘要：We connect two large bodies of scientific inquiry. First, important theories in the social sciences establish that human preferences are reference-dependent. Second, a separate field of research documents substantial differences in preferences and attitudes across genders. Specifically, we examine the universe of official classic chess games (more than 250,000 subjects and 22 million games). This allows us to study differences across genders both in cognitive performance (intensive margin) and...
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作者：Li, Jia; Todorov, Viktor; Zhang, Qiushi
作者单位：Singapore Management University; Northwestern University; University of International Business & Economics
摘要：This paper provides a nonparametric test for deciding the dimensionality of a policy shock as manifest in the abnormal change in asset returns' stochastic covariance matrix, following the release of a macroeconomic announcement. We use high-frequency data in local windows before and after the event to estimate the covariance jump matrix and then test its rank. We find a one-factor structure in the covariance jump matrix of the yield curve resulting from the Federal Reserve's monetary policy sh...
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作者：Deshpande, Manasi; Fadlon, Itzik; Gray, Colin
作者单位：University of Chicago; National Bureau of Economic Research; University of California System; University of California San Diego
摘要：We study how increases in the U.S. Social Security full retirement age (FRA) affect benefit-claiming behavior and retirement behavior separately. Using long panels of Social Security administrative data, we implement complementary research designs of a traditional cohort analysis and a regression-discontinuity design. We find that while claiming ages strongly and immediately shift in response to increases in the FRA, retirement ages exhibit persistent stickiness at the old FRA of 65. We use se...
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作者：Feng, Josh
作者单位：Utah System of Higher Education; University of Utah
摘要：I use temporal discontinuities in choice sets to identify history dependence in drug demand, finding large and long-term effects. Quasi-randomly assigning a patient to a drug today increases the probability she is taking the same drug four years later by 54 percentage points. History dependence is stronger in patients taking multiple medications and weaker in drugs that are significantly more effective than substitutes. It is also weaker in generics and line extensions, driven by switching fro...
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作者：Erten, Bilge; Keskin, Pinar
作者单位：Northeastern University; Wellesley College
摘要：We study the impact of trade-induced changes in labor market conditions on violence within the household. We exploit the local labor demand shocks generated by Cambodia's WTO accession to assess how changes in the employment of women relative to men affected the risk of intimate partner violence. We document that men in districts facing larger tariff reductions experienced a significant decline in paid employment, whereas women in harder-hit districts increased their entry into the labor force...
