-
作者：Auer, Raphael A.; Levchenko, Andrei A.; Saure, Philip
作者单位：Bank for International Settlements (BIS); Center for Economic & Policy Research (CEPR); University of Michigan System; University of Michigan; National Bureau of Economic Research; Johannes Gutenberg University of Mainz
摘要：We document that international input-output linkages contribute substantially to synchronizing producer price inflation (PPI) across countries. Using a multicountry, industry-level data set that combines information on PPI and exchange rates with global input-output linkages, we recover the underlying cost shocks that are propagated internationally via the global input-output network, thus generating the observed dynamics of PPI. We then compare the extent to which common global factors accoun...
-
作者：Jakiela, Pamela; Ozier, Owen
作者单位：University System of Maryland; University of Maryland College Park; IZA Institute Labor Economics; The World Bank
摘要：We estimate the impact of Kenya's postelection crisis on individual risk preferences. The crisis interrupted a longitudinal survey of more than five thousand Kenyan youth, creating plausibly exogenous variation in exposure to civil conflict prior to the survey. Our results indicate that the postelection crisis sharply increased individual risk aversion. Immediately after the crisis, the fraction of subjects displaying extreme risk aversion increased by more than 80%. Findings remain robust whe...
-
作者：Shertzer, Allison; Walsh, Randall P.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; National Bureau of Economic Research
摘要：Residential segregation by race grew sharply during the early twentieth century as black migrants from the South arrived in northern cities. Using newly assembled neighborhood-level data, we provide the first systematic evidence on the impact of prewar population dynamics within cities on the emergence of the American ghetto. Leveraging exogenous changes in neighborhood racial composition, we show that white flight in response to black arrivals was quantitatively large and accelerated between ...
-
作者：Banks, James; Carvalho, Leandro S.; Perez-Arce, Francisco
作者单位：University of Manchester; University of Southern California
摘要：This paper studies the causal effect of education on decision making. In 1972, England raised its minimum school-leaving age from 15 to 16 for students born after September 1, 1957. An online survey was conducted with 2,700 individuals born in a 36-month window on either side of this date. Participants made 25 incentivized risk choices that allow us to measure multiple dimensions of decision making. Despite the policy having effects on education, educational qualifications, and income, we find...
-
作者：Ferman, Bruno; Pinto, Cristine
作者单位：Getulio Vargas Foundation
摘要：We derive an inference method that works in differences-in-differences settings with few treated and many control groups in the presence of heteroskedasticity. As a leading example, we provide theoretical justification and empirical evidence that heteroskedasticity generated by variation in group sizes can invalidate existing inference methods, even in data sets with a large number of observations per group. In contrast, our inference method remains valid in this case. Our test can also be com...
-
作者：Koster, Hans R. A.; van Ommeren, Jos
作者单位：Vrije Universiteit Amsterdam; HSE University (National Research University Higher School of Economics); Tinbergen Institute; University of London; London School Economics & Political Science; Center for Economic & Policy Research (CEPR)
摘要：We study the economic effects of place-based policies in the housing market, by investigating the effects of a place-based program on prices of surrounding owner-occupied properties. The program improved the quality of public housing in 83 impoverished neighborhoods throughout the Netherlands. We combine a first-difference approach with a fuzzy regression-discontinuity design to address the fundamental issue that these neighborhoods are endogenously treated. Improvements in public housing indu...
-
作者：Black, Sandra E.; Butikofer, Aline; Devereux, Paul J.; Salvanes, Kjell G.
作者单位：University of Texas System; University of Texas Austin; National Bureau of Economic Research; IZA Institute Labor Economics; Norwegian School of Economics (NHH); University College Dublin
摘要：We examine the effect of radiation exposure in utero, resulting from nuclear weapon testing in the 1950s and early 1960s, on long-run outcomes of Norwegian children. Exposure to low-dose radiation, specifically during months 3 and 4 in utero, leads to lower IQ scores for men and lower education attainment and earnings among men and women. Children of persons affected in utero also have lower cognitive scores, suggesting a persistent intergenerational effect of the shock to endowments. Given th...
-
作者：Barnichon, Regis; Brownlees, Christian
作者单位：Center for Economic & Policy Research (CEPR); Pompeu Fabra University; Barcelona School of Economics
摘要：Local projections (LP) is a popular methodology for the estimation of impulse responses (IR). Compared to the traditional VAR approach, LP allow for more flexible IR estimation by imposing weaker assumptions on the dynamics of the data. The nonparametric nature of LP comes at an efficiency cost, and in practice, the LP estimator may suffer from excessive variability. In this work, we propose an IR estimation methodology based on B-spline smoothing called smooth local projections (SLP). The SLP...
-
作者：Konig, Michael D.; Liu, Xiaodong; Zenou, Yves
作者单位：Vrije Universiteit Amsterdam; University of Colorado System; University of Colorado Boulder; Monash University
摘要：We analyze a model of R&D alliance networks where firms are engaged in R&D collaborations that lower their production costs while competing on the product market. We provide a complete characterization of the Nash equilibrium and determine the optimal R&D subsidy program that maximizes total welfare. We then structurally estimate this model using a unique panel of R&D collaborations and annual company reports. We use our estimates to study the impact of targeted versus nondiscriminatory R&D su...
-
作者：Brooks, Leah; Lutz, Byron
作者单位：George Washington University; Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：We document intracity spatial persistence and its causes. Streetcars dominated urban transit in Los Angeles County from the 1890s to the early 1910s, and were off the road entirely by 1963. However, we find that streetcars' influence remains readily visible in the current pattern of urban density and that this influence has not dissipated in the sixty years since the streetcar's removal. We examine land use regulation as both a consequence of streetcars and a mechanism for the persistent effec...
