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作者：Albouy, David
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; National Bureau of Economic Research
摘要：This paper models how to use widely available data on wages and housing costs to infer land rents, local productivity, and the total value of local amenities in the presence of federal taxes and locally produced nontraded goods. I apply the model to U.S. metropolitan areas with the aid of visually intuitive graphs. The results improve measures of productivity and feature large differences in land rents. Wage and housing cost differences across metropolitan areas are accounted for more by produ...
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作者：Engelberg, Joseph; Fisman, Raymond; Hartzell, Jay C.; Parsons, Christopher A.
作者单位：University of California System; University of California San Diego; Columbia University; University of Texas System; University of Texas Austin
摘要：We study the role of labor inputs in religious attendance using data on Oklahoma Methodist congregations from 1961 to 2003. Pastors play a significant role in church growth: replacing a 25th percentile pastor with a 75th percentile one increases annual attendance growth by 3%. A pastor's performance in his or her first church (largely the result of random assignment) predicts future performance, suggesting a causal effect of pastors on growth. The deployment of pastors by the church indicates ...
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作者：Dean, Mark; Martin, Daniel
作者单位：Brown University; Paris School of Economics
摘要：We introduce a new measure of how close a set of choices is to satisfying the observable implications of rationality and apply it to a large, balanced panel of household level consumption data. This new measure, the minimum cost index, is the minimum cost of breaking all revealed preference cycles found in choices from budget sets. Unlike existing measures of rationality, it responds to both the number and severity of revealed preference violations.
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作者：Gobillon, Laurent; Magnac, Thierry
作者单位：Paris School of Economics; Centre National de la Recherche Scientifique (CNRS); Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：In this paper, we investigate the use of interactive effect or linear factor models in regional policy evaluation. We contrast treatment effect estimates obtained using Bai (2009) with those obtained using difference in differences and synthetic controls (Abadie and coauthors). We show that difference in differences are generically biased, and we derive support conditions for synthetic controls. We construct Monte Carlo experiments to compare these estimation methods in small samples. As an em...
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作者：Fuchs-Schuendeln, Nicola; Masella, Paolo
作者单位：Goethe University Frankfurt; Center for Economic & Policy Research (CEPR); IZA Institute Labor Economics; University of Sussex
摘要：Political regimes influence the content of education and criteria used to select and evaluate students.We study the impact of a socialist education on the likelihood of obtaining a college degree and on several labor market outcomes by exploiting the reorganization of the school system in East Germany after reunification. Our identification strategy uses cutoff birth dates for school enrollment that lead to variation in the length of exposure to the socialist education system within the same b...
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作者：Madsen, Jakob B.; Ang, James B.
作者单位：Monash University; Nanyang Technological University
摘要：It is well established in the literature that financial development (FD) is conducive to growth, and yet the channels through which FD affects growth are not well understood. Using a unique new panel data set for 21 OECD countries over the past 140 years, this paper examines the extent to which FD transmits to growth through ideas production, savings, fixed investment, and schooling. Unionization and agricultural share are used as instruments for FD. The empirical results show that FD influenc...
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作者：Copeland, Adam; Shapiro, Adam Hale
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Federal Reserve System - USA; Federal Reserve Bank - San Francisco
摘要：We examine how the confluence of competition and upstream innovation influences downstream firms' profit-maximizing strategies. We focus on personal computers and use two novel data sets to describe the dramatic fall in both price (27% at an annual rate) and sales of a computer over its product cycle. Further, we document that computers are typically sold for only four months before being replaced by a higher-quality product. To explain these facts, we develop and calibrate a vintage capital m...
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作者：Clark, Andrew E.; D'Ambrosio, Conchita; Ghislandi, Simone
作者单位：Paris School of Economics; Centre National de la Recherche Scientifique (CNRS); University of Luxembourg; Bocconi University
摘要：We consider the link between poverty and subjective wellbeing and focus in particular on potential adaptation to poverty. We use panel data on almost 54,000 individuals living in Germany from 1985 to 2012 to show, first, that life satisfaction falls with both the incidence and intensity of contemporaneous poverty. We then reveal that there is little evidence of adaptation within a poverty spell: poverty starts bad and stays bad in terms of subjective well-being. We cannot identify any cause of...
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作者：Funk, Patricia
作者单位：Universita della Svizzera Italiana; Pompeu Fabra University
摘要：Opinion polls and other surveys are used to capture public sentiments on a variety of issues. If citizens are unwilling to reveal certain policy preferences to others, surveys may fail to characterize population preferences accurately. The innovation of this paper is to use unique data that allow one to measure biases in surveyed preferences for a broad range of public policies. I combine data on 184 referenda held in Switzerland between 1987 and 2007 with postballot surveys that ask how the c...
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作者：Armantier, Olivier; Nelson, Scott; Topa, Giorgio; van der Klaauw, Wilbert; Zafar, Basit
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Massachusetts Institute of Technology (MIT)
摘要：Using a unique, randomized information experiment embedded in a survey, this paper investigates how consumers' inflation expectations respond to new information. We find that respondents, on average, update their expectations in response to (certain types of) information, and do so sensibly, in a manner consistent with Bayesian updating. As a result of information provision, the distribution of inflation expectations converges toward its center and cross-sectional disagreement declines. We doc...
