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作者：Acemoglu, Daron; Finkelstein, Amy; Notowidigdo, Matthew J.
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of Chicago
摘要：Health expenditures as a share of GDP in the United States have more than tripled over the past half-century. A common conjecture is that this is a consequence of rising income. We investigate this hypothesis by instrumenting for local area income with time series variation in oil prices interacted with local oil reserves. This strategy enables us to capture both partial equilibrium and local general equilibrium effects of income on health expenditures. Our central income elasticity estimate i...
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作者：Lu, Yi; Ng, Travis
作者单位：National University of Singapore; Chinese University of Hong Kong
摘要：Skill content varies enormously across industries and over time. This paper shows that import competition can explain a significant portion of the variation in various skill measures across manufacturing industries. Industries that face more intense import competition employ more nonroutine skill sets, including cognitive, interpersonal, and manual skills, and fewer cognitive routine skills. In addition, we find that the impact of import competition on skills is not driven by imports from low-...
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作者：Scholnick, Barry
作者单位：University of Alberta
摘要：We examine whether the magnitude of an anticipated income change affects consumption smoothing (the magnitude hypothesis). Although this hypothesis has been discussed for fifty years, we are one of the first to provide formal statistical evidence to support it. We consider the natural experiment of an individual's final mortgage payment, an anticipated income change, and examine how it affects credit card expenditure. We can identify causality because the dates of final mortgage payments acros...
