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作者：Weisburd, Sarit
作者单位：Tel Aviv University
摘要：This paper capitalizes on a unique situation in Israel where car insurance coverage is often distributed as a benefit by employers. In our sample, employer-determined coverage resulted in an average $235 discount in accident costs. Using instrumental variable analysis on data provided by an insurance firm in Israel (2001-2008), we find that each $100 reduction in accident costs results in a 1.7 percentage point increase in the probability of an accident. At an average accident rate of 16.3 per...
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作者：Allcott, Hunt; Wozny, Nathan
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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：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：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...
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作者：Milanovic, Branko
作者单位：University System of Maryland; University of Maryland College Park
摘要：Suppose that all people in the world are allocated only two characteristics over which they have (almost) no control: country of residence and income distribution within that country. Assume further that there is no migration. We show that more than one-half of variability in income of world population classified according to their household per capita in 1% income groups (by country) is accounted for by these two characteristics. The role of effort or luck cannot play a large role in explaini...
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作者：Penaranda, Francisco; Sentana, Enrique
摘要：Regression and SDF approaches with centered or uncentered moments and symmetric or asymmetric normalizations are commonly used to empirically evaluate linear factor pricing models. We show that unlike two-step or iterated GMM procedures, single-step estimators such as continuously updated GMM yield numerically identical risk prices, pricing errors, and overidentifying restrictions tests irrespective of the model validity and regardless of the factors being traded, or the use of excess or gross...
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作者：Cai, Hongbin; Chen, Yuyu; Fang, Hanming; Zhou, Li-An
作者单位：Peking University; University of Pennsylvania; National Bureau of Economic Research
摘要：We report results from a large, randomized field to study how access to formal microinsurance affects production and economic development. We induce exogenous variation in insurance coverage at the village level by randomly assigning performance incentives to the village animal husbandry worker who is responsible for signing farmers up for the insurance. We find that promoting greater adoption of insurance significantly increases farmers' sow production, and this effect seems to persist in the...
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作者：Powdthavee, Nattavudh; Riyanto, Yohanes E.
作者单位：University of London; London School Economics & Political Science; University of Melbourne; Nanyang Technological University
摘要：Standard economic models assume that the demand for expert predictions arises only under the conditions in which individuals are uncertain about the underlying process generating the data and there is a strong belief that past performances predict future performances. We set up the strongest possible test of these assumptions. In contrast to the theoretical suggestions made in the literature, people are willing to pay for predictions of truly random outcomes after witnessing only a short strea...
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作者：Avery, Robert B.; Brevoort, Kenneth P.
作者单位：Federal Reserve System - USA
摘要：Some have suggested that housing policy, embodied by the Community Reinvestment Act (CRA) and affordable housing goals of the government-sponsored enterprises (GSEs), caused the subprime crisis. We examine if these programs led to worse mortgage outcomes using two approaches. The first examines whether more activity by CRA-covered lenders, or more loan sales to the GSEs, was associated with worse outcomes. The second uses regression discontinuity to determine if outcomes were worse at the geog...
