What Was the Industrial Revolution? -- by Robert E. Lucas, Jr.
At some point in the first half of the 19th century per capita GDP in the United Kingdom and the United States began to grow at something like one to two percent per year and have continued to do so up...
View ArticleThe Effect of Cash Injections: Evidence from the 1980s Farm Debt Crisis -- by...
What is the effect of cash injections during financial crises? Exploiting county-level variation arising from random weather shocks during the 1980s Farm Debt Crisis, we analyze and measure the effect...
View ArticleTargeted Debt Relief and the Origins of Financial Distress: Experimental...
We study the drivers of financial distress using a large-scale field experiment that offered randomly selected borrowers a combination of (i) immediate payment reductions to target short-run liquidity...
View ArticleThe Disappointing Recovery of Output after 2009 -- by John G. Fernald, Robert...
U.S. output has expanded only slowly since the recession trough in 2009, even though the unemployment rate has essentially returned to a pre-crisis, normal level. We use a growth-accounting...
View ArticleThe Impact of Alcohol on Mental Health, Physical Fitness, and Job Performance...
We study the impact of legal access to alcohol on a range of behavioral and physical outcomes of U.S. Army soldiers in a regression discontinuity design. The wealth of novel data collected by the...
View ArticleInternal Capital Markets in Times of Crisis: The Benefit of Group Affiliation...
Italy's economic and banking systems have been under stress in the wake of the Global Financial Crisis and Euro Crisis. Firms in business groups have been more likely to survive this challenging...
View ArticleThe Aggregate Productivity Effects of Internal Migration: Evidence from...
We estimate the aggregate productivity gains from reducing barriers to internal labor migration in Indonesia, accounting for worker selection and spatial differences in human capital. We distinguish...
View ArticleSurvey Under-Coverage of Top Incomes and Estimation of Inequality: What is...
Survey under-coverage of top incomes leads to bias in survey-based estimates of overall income inequality. Using income tax record data in combination with survey data is a potential approach to...
View ArticleThe Integration of Economic History into Economics -- by Robert A. Margo
In the United States today the academic field of economic history is much closer to economics than it is to history in terms of professional behavior, a stylized fact that I call the "integration of...
View ArticleMandatory Access Prescription Drug Monitoring Programs and Prescription Drug...
Despite the significant cost of prescription (Rx) drug abuse and calls from policy makers for effective interventions, there is limited research on the effects of policies intended to limit such abuse....
View ArticleSupply- and Demand-side Factors in Global Banking -- by Mary Amiti, Patrick...
What is the role for supply and demand forces in determining movements in international banking flows? Answering this question is crucial for understanding the international transmission of financial...
View ArticleFoundations of Welfare Economics and Product Market Applications -- by Daniel...
A common problem in applied economics is to determine the impact on consumers of changes in prices and attributes of marketed products as a consequence of policy changes. Examples are prospective...
View ArticleA Framework for Sharing Confidential Research Data, Applied to Investigating...
Data stewards seeking to provide access to large-scale social science data face a difficult challenge. They have to share data in ways that protect privacy and confidentiality, are informative for many...
View ArticleImpacts of Climate Change and Extreme Weather on U.S. Agricultural...
This paper employs a stochastic frontier approach to examine how climate change and extreme weather affect U.S. agricultural productivity using 1940-1970 historical weather data (mean and variation) as...
View ArticleMinimum Wage Increases, Wages, and Low-Wage Employment: Evidence from Seattle...
This paper evaluates the wage, employment, and hours effects of the first and second phase-in of the Seattle Minimum Wage Ordinance, which raised the minimum wage from $9.47 to $11 per hour in 2015 and...
View ArticleThe Role of Hospital and Market Characteristics in Invasive Cardiac Service...
Little is known about how the adoption and diffusion of medical innovation is related to and influenced by market characteristics such as competition. The particular complications involved in...
View ArticleUnordered Monotonicity -- by James J. Heckman, Rodrigo Pinto
This paper presents a new monotonicity condition for unordered discrete choice models with multiple treatments. Unlike a less general version of mono-tonicity in binary and ordered choice models,...
View ArticleUnilever: Algorithms Replace Humans in Hiring Process
Kelsey Gee wrote about Unilever's "radical hiring experiment" in this morning's Wall Street Journal. Gee explained that, "To diversify its candidate pool for early-career roles that are a fast track to...
View ArticleWeekly Top 5 Papers – June 26th 2017
1. Availability Cascades and Risk Regulation by Timur Kuran (Duke University – Department of Economics) and Cass Sunstein (Harvard Law School)read more...
View ArticleA Partial Solution to Continuous Blotto. (arXiv:1706.08479v1 [q-fin.EC])
This paper analyzes the structure of mixed-strategy equilibria for Colonel Blotto games, where the outcome on each battlefield is a polynomial function of the difference between the two players'...
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