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作者：Snider, Connan; Williams, Jonathan W.
作者单位：University of California System; University of California Los Angeles; University of North Carolina; University of North Carolina Chapel Hill
摘要：We investigate the success of legislation aimed at increasing competition at highly concentrated U.S. airports, mainly by forcing these airports to increase the availability of scarce facilities. We use a multidimensional regression-discontinuity approach to exploit a sharp discontinuity in the law's implementation and identify its effects. We find that fares decrease by 13.4% (20.2%) in markets with one (both) end point(s) covered. Approximately half of the decline is driven by the entry of l...
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作者：Anderson, Eric; Jaimovich, Nir; Simester, Duncan
作者单位：Northwestern University; Duke University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT)
摘要：A leading explanation in the economic literature is that monetary policy has real effects on the economy because firms incur a cost when changing prices. Using a unique database of cost and retail price changes, we find that variation in menu costs results in up to 13.3% fewer price increases. We confirm that these effects are allocative and have a persistent impact on both prices and unit sales. We provide evidence that the menu cost channel operates only when cost increases are small in magn...
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作者：Glaeser, Edward L.; Kerr, Sari Pekkala; Kerr, William R.
作者单位：Harvard University; Wellesley College
摘要：We study entrepreneurship and growth through the lens of U.S. cities. Initial entrepreneurship correlates strongly with urban employment growth, but endogeneity bedevils interpretation. Chinitz (1961) hypothesized that coal mines near cities led to specialization in industries, like steel, with significant scale economies and that those big firms subsequently damped entrepreneurship across several generations. Proximity to historical mining deposits is associated with reduced entrepreneurship ...
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作者：Dong, Yingying; Lewbel, Arthur
作者单位：University of California System; University of California Irvine; Boston College
摘要：Regression discontinuity models are commonly used to nonparametrically identify and estimate a local average treatment effect (LATE).We show that the derivative of the treatment effect with respect to the running variable at the cutoff, referred to as the treatment effect derivative (TED), is nonparametrically identified, easily estimated, and has implications for testing external validity and extrapolating the estimated LATE away from the cutoff. Given a local policy invariance assumption, we...
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作者：Fulford, Scott L.
作者单位：Boston College
摘要：Do banks matter for growth, and if so, how? This paper examines the effects of national banks in the United States from 1870 to 1900. I use the discontinuity in entry caused by a large minimum size requirement to identify the effects of banking. For the counties on the margin between getting a bank and not, gaining a bank increased production per person by 10%. National banks in rural areas improved agriculture over manufacturing, moving counties toward geographic comparative advantage. Since ...
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作者：Lacetera, Nicola; Sydnor, Justin
作者单位：University of Toronto; University of Wisconsin System; University of Wisconsin Madison
摘要：Are location-specific factors important for understanding firms' heterogeneities? We examine prices and quality metrics for Japanese cars at wholesale auctions, comparing otherwise identical cars assembled in the United States versus Japan. We find similar values regardless of country of assembly. These results indicate that Japanese automakers in general have successfully transferred their practices to their U.S. transplants and that there is no inherent limitation to high-quality automobile ...
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作者：Allen, Treb
作者单位：Northwestern University
摘要：This paper examines how the fertility of enslaved women was affected by the promise of freedom. Exploiting geographic variation in the effect of the Fugitive Slave Law of 1850, I demonstrate a negative correlation between fertility and the distance to freedom. This negative correlation is stronger on larger plantations but weaker when the slaveholder is a woman. A similar correlation is not present for white children, slave children with white fathers, or slave children born prior to the Fugit...
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作者：Ater, Itai; Orlov, Eugene
作者单位：Tel Aviv University
摘要：We argue that the rise of online travel agencies changed the nature of competition in the airline industryfrom competition on elapsed scheduled flight times to price competition. Using flight-level data between 1997 and 2007 and geographical Internet growth patterns, we find a positive relationship between Internet access and flight times. The magnitude of this relationship is larger in competitive markets without low-cost carriers and for flights with shortest scheduled times. We also find th...
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作者：Blanchard, Emily; Matschke, Xenia
作者单位：Dartmouth College; Universitat Trier
摘要：We combine firm-level panel data on U.S. foreign affiliate activity with detailed measures of U.S. trade policy to study the relationship between offshoring and preferential market access. Consistent with theory, we find that trade preferences and offshoring activity are positively and significantly correlated. Using instrumental variables, we estimate that a 10% increase in U.S. foreign affiliate exports to the United States is associated with a 4 percentage point increase in the rate of pref...
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作者：Lakdawalla, Darius; Yin, Wesley
作者单位：University of Southern California; National Bureau of Economic Research; University of California System; University of California Berkeley
摘要：By influencing the size and bargaining power of private insurers, public subsidization of private health insurance may project effects beyond the subsidized population. We test for such spillovers by analyzing how increases in insurer size resulting from the implementation of Medicare Part D affected drug prices negotiated in the non-Medicare commercial market. On average, Part D lowered prices for commercial enrollees by 3.7 percentage. The external commercial market savings amount to $1.5 bi...
