Why Do Estimates of the EMU Effect On Trade Vary so Much? -- by Andrew K. Rose
Larger data sets, with more countries and a longer span of time, exhibit systematically larger effects of European monetary union on trade. I establish this stylized fact with meta-analysis and confirm...
View ArticleAggregate Recruiting Intensity -- by Alessandro Gavazza, Simon Mongey,...
We develop a model of firm dynamics with random search in the labor market where hiring firms exert recruiting effort by spending resources to fill vacancies faster. Consistent with micro evidence, in...
View ArticleGlobalization, Inequality and Welfare -- by Pol Antras, Alonso de Gortari,...
This paper studies the welfare implications of trade opening in a world in which trade raises aggregate income but also increases income inequality, and in which redistribution needs to occur via a...
View ArticleQuality Predictability and the Welfare Benefits from New Products: Evidence...
We explore the consequence of quality unpredictability for the welfare benefit of new products, using recent developments in recorded music as our context. Digitization has expanded consumption...
View ArticleTaking Stock of the Evidence on Micro-Financial Interventions -- by Francisco...
We review the empirical evidence on microfinance and asset grants to the ultra poor or microentrepreneurs, and assess our ability to account for this evidence using quantitative theory. Properly...
View ArticleIncentives and Ethics in the Economics of Body Parts -- by Nicola Lacetera
Research shows that properly devised economic incentives increase the supply of blood without hampering its safety; similar effects may be expected also for other body parts such as bone marrow and...
View ArticleMismatch Unemployment and the Geography of Job Search -- by Ioana Marinescu,...
Could we significantly reduce U.S. unemployment by helping job seekers move closer to jobs? Using data from the leading employment board CareerBuilder.com, we show that, indeed, workers dislike...
View ArticleApplying Behavioral Economics to Public Policy in Canada -- by Robert French,...
Behavioural economics incorporates ideas from Psychology, Sociology, and Neuroscience to better predict how individuals make long-term decisions. Often the ideas adopted include present or inattention...
View ArticleCan Cash Transfers Help Households Escape an Inter-Generational Poverty Trap?...
Many poor households in developing countries are liquidity-constrained. As a result, they may under-invest in the human capital of their children. We provide new evidence on the long-term (10-year)...
View ArticleIs American Pet Health Care (Also) Uniquely Inefficient? -- by Liran Einav,...
We document four similarities between American human healthcare and American pet care: (i) rapid growth in spending as a share of GDP over the last two decades; (ii) strong income-spending gradient;...
View ArticlePublic School Quality Valuation Over the Business Cycle -- by Stuart Gabriel,...
Over the years 2000 to 2013, the Los Angeles real estate market featured a boom, a bust, and then another boom. We use this variation to test how the hedonic valuation of school quality varies over the...
View ArticleThe Rise and Nature of Alternative Work Arrangements in the United States,...
To monitor trends in alternative work arrangements, we conducted a version of the Contingent Worker Survey as part of the RAND American Life Panel in late 2015. The findings point to a significant rise...
View ArticleA Doctor Will See You Now: Physician-Patient Relationships and Clinical...
We estimate the effect of physician-patient relationships on clinical decisions in a setting where the treating physician is as good as randomly assigned. OBs are 25% (4 percentage points) more likely...
View ArticleThe Consequences of Long Term Unemployment: Evidence from Matched...
It is well known that the long-term unemployed fare worse in the labor market than the short-term unemployed, but less clear why this is so. One potential explanation is that the long-term unemployed...
View ArticleA Simpler Theory of Optimal Capital Taxation -- by Emmanuel Saez, Stefanie...
This paper develops a theory of optimal capital taxation that expresses optimal tax formulas in sufficient statistics following the methodology of optimal labor income taxation. We first consider a...
View ArticleAccounting for Business Cycles -- by Pedro Brinca, V. V. Chari, Patrick J....
We elaborate on the business cycle accounting method proposed by Chari, Kehoe, and McGrattan (2007), clear up some misconceptions about the method, and then apply it to compare the Great Recession...
View ArticleSurplus-Debt Regressions -- by Eric M. Leeper, Bing Li
Single-equation estimates of fiscal reaction functions, which relate primary surpluses to past debt-GDP ratios and control variables, are subject to potentially serious simultaneity bias that can...
View ArticlePay Now or Pay Later?: The Economics within the Private Equity Partnership --...
The economics of partnerships have been of enduring interest to economists, but many issues regarding intergenerational conflicts and their impact on the continuity of these organizations remain...
View ArticleTo the New World and Back Again: Return Migrants in the Age of Mass Migration...
We compile large datasets from Norwegian and US historical censuses to study return migration during the Age of Mass Migration (1850-1913). Return migrants were somewhat negatively selected from the...
View ArticleThomson Reuters Launches D&I Index Reveals Top 100 Most Diverse &...
Thomson Reuters today announced the launch of its new Diversity & Inclusion (D&I) Index. The D&I Index ranks the top 100 publicly traded companies globally with the most diverse and...
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