-
作者：Wasserman, Melanie
作者单位：University of California System; University of California Los Angeles
摘要：This paper documents gender differences in the career paths of novice politicians. Using trajectories of over 11,000 candidates for California local offices and a regression discontinuity approach, I investigate the persistence of candidates after they win or lose elections. Losing an election causes over 50% more attrition among female than male candidates. Yet the gender gap in persistence depends on the setting: there is a smaller gap among candidates for high female representation offices ...
-
作者：Alexander, Diane; Karger, Ezra
作者单位：University of Pennsylvania; Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：We link the county-level rollout of stay-at-home orders during the COVID-19 pandemic to anonymized cell phone records and consumer spending data. We document three patterns. First, stay-at-home orders caused people to stay home: county-level measures of mobility declined 6% to 7% within two days of when the stay-at-home order went into effect. Second, stay-at-home orders caused large reductions in spending in sectors associated with mobility: small businesses and large retail chains. Third, we...
-
作者：Bartling, Bjoern; Fehr, Ernst; Ozdemir, Yagiz
作者单位：University of Zurich
摘要：The widespread use of markets leads to unprecedented material well-being in many societies. We study whether market interaction, as a side effect, erodes moral values. In an influential paper, Falk and Szech (2013) provide experimental data that seem to suggest that market interaction erodes moral values. Although we replicate their main treatment effect, we show that additional treatments are necessary to corroborate their conclusion. These treatments reveal that playing repeatedly, and not ...
-
作者：Beam, Emily A.; Quimbo, Stella
作者单位：University of Vermont
摘要：We use a randomized field experiment to test the causal impact of short-term work experience on employment and school enrollment among disadvantaged, in-school youth in the Philippines. This experience leads to a 4.4 percentage point (79%) increase in employment eight to twelve months later. Although we find no aggregate increase in enrollment, we also do not find that the employment gains push youth out of school. Our results are most consistent with work experience serving as a signal of uno...
-
作者：Cumming, Fergus; Hubert, Paul
作者单位：Bank of England; European Central Bank; Bank of France; Institut d'Etudes Politiques Paris (Sciences Po)
摘要：We investigate whether the dynamic response of aggregate consumption to monetary policy depends on the distribution of household debt relative to income. Using U.K. loan-level microdata, we propose a novel approach to isolate the fraction of households with a limited ability to smooth consumption. By exploiting time and cross-sectional variation, we show that consumption responds more to monetary policy when the share of highly indebted households is large, but find no state contingency with r...
-
作者：Ruzic, Dimitrije; Ho, Sui-Jade
作者单位：INSEAD Business School
摘要：Aggregate productivity suffers when workers and machines are not matched with their most productive uses. This paper builds a model that features industry-specific markups, industry-specific returns to scale, and establishment-specific distortions and uses it to measure the extent of this misallocation in the economy. Applying the model to restricted U.S. Census microdata on the manufacturing sector suggests that misallocation declined by 13% between 1982 and 2007. The finding of declining mis...
-
作者：Antman, Francisca M.
作者单位：University of Colorado System; University of Colorado Boulder
摘要：This paper explores the impact of water quality on mortality by exploiting a natural experiment: the rise of tea consumption in eighteenth century England. This resulted in an unintentional increase in consumption of boiled water, thereby reducing mortality rates. The methodology uses two identification strategies tying areas with lower initial water quality to larger declines in mortality rates after tea drinking became widespread and following larger volumes of tea imports. Results are robus...
-
作者：Jones, Callum
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：By the end of 2019, U.S. output was 14% below the level predicted by its pre-2008 trend. To understand why, I develop and estimate a model of the United States with demographics, real and monetary shocks, and the occasionally binding zero lower bound on nominal rates. Demographic shocks generate slow-moving trends in interest rates, employment, and productivity. Demographics alone can explain about 40% of the gap between log output per capita and its linear trend by 2019. By lowering interest ...
-
作者：La Nauze, Andrea
作者单位：University of Queensland; Leibniz Association; Ifo Institut
摘要：I test whether economic incentives impact peer effects in public-good settings. I study how a visible and subsidized contribution to a public good (installing solar panels) affects peer contributions to the same good that are neither subsidized nor visible (electing green power). Exploiting spatial variation in the feasibility of installing solar panels, I find that on average panels increase voluntary purchases of green power by neighbors. However, when subsidies to solar are high, solar pane...
-
作者：Berge, Travis J.
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：A factor stochastic volatility model estimates the common component to output gap estimates produced by the staff of the Federal Reserve, its time-varying volatility, and time-varying, horizon-specific forecast uncertainty. The output gap estimates are uncertain even well after the fact. Nevertheless, the common component is clearly procyclical, and positive innovations to the common component produce movements in macroeconomic variables consistent with an increase in aggregate demand. Heighte...
