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作者：Rothstein, Donna S.
作者单位：United States Department of Labor
摘要：This paper investigates whether breastfeeding affects 5- to 6-year old children's cognitive development using three U.S. longitudinal data sets. The results for the full samples roughly point to a dose-response effect of breastfeeding on children's cognitive outcomes, with breastfeeding six months or more associated with about one-tenth of a standard deviation increase in cognitive test scores. The breastfeeding effects do not appear to be due to differences in maternal employment, cognitive a...
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作者：Wunsch, Conny
作者单位：Vrije Universiteit Amsterdam; Leibniz Association; Ifo Institut; IZA Institute Labor Economics
摘要：This paper demonstrates how economic theory can be combined with state-of-the-art empirics to make quantitative statements about optimal policy. Using a large administrative data set for West Germany as well as nonparametric and semiparametric estimation techniques, I parameterize the model proposed by Pavoni and Violante (2005, 2007) for the optimal choice of different financial and activation measures for unemployed workers. The parameterized model is used to study the role of job search ass...
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作者：Engle, Robert F.; Ghysels, Eric; Sohn, Bumjean
作者单位：New York University; University of North Carolina; University of North Carolina Chapel Hill; Korea University
摘要：We revisit the relation between stock market volatility and macroeconomic activity using a new class of component models that distinguish short-run from long-run movements. We formulate models with the long-term component driven by inflation and industrial production growth that are in terms of pseudo out-of-sample prediction for horizons of one quarter at par or outperform more traditional time series volatility models at longer horizons. Hence, imputing economic fundamentals into volatility ...
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作者：Poelhekke, Steven; van der Ploeg, Frederick
作者单位：University of Oxford; University of Oxford; Centre for Economic Policy Research - UK
摘要：A new and extensive panel of outward nonresource and resource FDI is used to investigate the effect of natural resources on the different components of FDI. Our main findings are as follows. First, for countries which were not a resource producer before, a resource discovery causes nonresource FDI to fall 16% in the short run and by 68% in the long run. Second, for countries that were already a resource producer, a doubling of resource rents induces a 12.4% fall in nonresource FDI. Third, on a...
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作者：Diamond, Alexis; Sekhon, Jasjeet S.
作者单位：University of California System; University of California Berkeley
摘要：This paper presents genetic matching, a method of multivariate matching that uses an evolutionary search algorithm to determine the weight each covariate is given. Both propensity score matching and matching based on Mahalanobis distance are limiting cases of this method. The algorithm makes transparent certain issues that all matching methods must confront. We present simulation studies that show that the algorithm improves covariate balance and that it may reduce bias if the selection on obs...
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作者：Cai, Hongbin; Li, Hongbin; Park, Albert; Zhou, Li-An
作者单位：Peking University; Tsinghua University; Hong Kong University of Science & Technology
摘要：Analyzing data from a unique survey of managers of Chinese private firms, we investigate how family ties with firm heads affect managerial compensation and job assignment. We find that family managers earn higher salaries and receive more bonuses, hold higher positions, and are given more decision rights and job responsibilities than nonfamily managers in the same firm. However, family managers face weaker incentives than professional managers, as seen in the lower sensitivity of their bonuses...
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作者：Belenzon, Sharon; Schankerman, Mark
作者单位：Duke University; University of London; London School Economics & Political Science
摘要：Using new data on citations to university patents and scientific publications, we study how geography affects university knowledge spillovers. Citations to patents decline sharply with distance and are strongly constrained by state borders. The effect of distance on citations to scientific publications is less sharp, and the state border effect on publications is significant only for lower-quality public universities. We show that the state border effect is heterogeneous and strongly influence...
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作者：Berdejo, Carlos; Yuchtman, Noam
作者单位：University of California System; University of California Berkeley
摘要：We present evidence that Washington State judges respond to political pressure by sentencing serious crimes more severely. Sentences are around 10% longer at the end of a judge's political cycle than at the beginning; judges' discretionary departures above the sentencing guidelines range increase by 50% across the electoral cycle, accounting for much of the greater severity. Robustness specifications, nonlinear models, and falsification exercises allow us to distinguish among explanations for ...
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作者：Corcos, Gregory; Irac, Delphine M.; Mion, Giordano; Verdier, Thierry
作者单位：Norwegian School of Economics (NHH); European Central Bank; Bank of France; University of London; London School Economics & Political Science; Paris School of Economics
摘要：How well does the theory of the firm explain the choice between intrafirm and arm's-length trade? This paper uses firm-level import data from France to look into this question. We find support for three key predicdons of property rights theories of the multinational firm. Intrafirm imports are more likely in capital- and skill-intensive firms, in highly productive firms, and from countries with well-functioning judicial institutions. We bridge previous aggregate findings with our investigation...
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作者：Gan, Li; Hernandez, Manuel A.
作者单位：Texas A&M University System; Texas A&M University College Station; National Bureau of Economic Research
摘要：Agglomeration is a location pattern frequently observed in service industries such as hotels. This paper empirically examines whether agglomeration facilitates tacit collusion in the lodging industry using a quarterly data set of hotels in Texas. We jointly model a price and occupancy rate equation under a switching regression model to identify a collusive and noncollusive regime. The estimation results indicate that clustered hotels have a higher probability of being in the potential collusiv...
