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Vulnerability and Clientelism -- by Gustavo J. Bobonis, Paul Gertler, Marco...
Political clientelism is often deemed to undermine democratic accountability and representation. This study argues that economic vulnerability causes citizens to participate in clientelism. We test...
View ArticleWhat Sets College Thrivers and Divers Apart? A Contrast in Study Habits,...
Students from 4-year colleges often arrive having already done very well in high school, but by the end of first term, a wide dispersion of performance emerges, with an especially large lower tail....
View ArticleA Welfarist Role for Nonwelfarist Rules: An example with envy -- by Matthew...
I propose and formalize an argument for why economists working in the welfarist normative tradition should include nonwelfarist principles in how they judge economic policy. The key idea behind this...
View ArticleOptimal Regulation of Financial Intermediaries -- by Sebastian Di Tella
I characterize the optimal financial regulation policy in an economy where financial intermediaries trade capital assets on behalf of households, but must retain an equity stake to align incentives....
View ArticleCheck Up Before You Check Out: Retail Clinics and Emergency Room Use -- by...
Retail clinics are an innovation that has the potential to improve competition in health care markets. We use the universe of emergency room (ER) visits in New Jersey from 2006-2014 to examine the...
View ArticleThe Employment Effects of Minimum Wages: Some Questions We Need to Answer --...
The literature on the employment effects of minimum wages is about a century old, and includes hundreds of studies. Yet the debate among researchers about the employment effects of minimum wages...
View ArticleDeclining Competition and Investment in the U.S. -- by German Gutierrez,...
The U.S. business sector has under-invested relative to Tobin's Q since the early 2000's. We argue that declining competition is partly responsible for this phenomenon. We use a combination of natural...
View ArticleThe Arrival of Fast Internet and Employment in Africa -- by Jonas Hjort,...
To show how fast Internet affects employment in Africa, we exploit the gradual arrival of submarine Internet cables and maps of the terrestrial cable network. Robust difference-in-differences estimates...
View ArticleGeography, Search Frictions and Endogenous Trade Costs -- by Giulia...
We leverage detailed data on vessel movements and shipping contracts to shed new light on world trade costs and trade flows. The data reveal new facts about shipping patterns, and motivate us to build...
View ArticleThe Cyclical Sensitivity in Estimates of Potential Output -- by Olivier...
The fact that most of the persistent declines in output since the Great Recession have parlayed into equivalent declines in measures of potential output is commonly interpreted as implying that output...
View ArticleRisk Preferences in Small and Large Stakes: Evidence from Insurance Contract...
We examine risk preferences using the flood insurance decisions of over 100,000 households. In each contract, households make a small stakes decision, the deductible, and a large stakes one, the...
View ArticleIncome Mobility, Income Risk and Welfare -- by Tom Krebs, Pravin Krishna,...
This paper presents a framework for the quantitative analysis of individual income dynamics, mobility and welfare, with ex-ante identical individuals facing a stochastic income process and market...
View ArticleGeographic Cross-Sectional Fiscal Spending Multipliers: What Have We Learned?...
A geographic cross-sectional fiscal spending multiplier measures the effect of an increase in spending in one region in a monetary union. Empirical studies of such multipliers have proliferated in...
View ArticleIncentives for Replication in Economics -- by Sebastian Galiani, Paul...
Replication is a critical component of scientific credibility as it increases our confidence in the reliability of the knowledge generated by original research. Yet, replication is the exception rather...
View ArticleRisky Business? The Effect of Majoring in Business on Earnings and...
One of the most important decisions a student can make during the course of his or her college career is the choice of major. The field of study a student selects translates directly into the types of...
View ArticleThe Methuselah Effect: The Pernicious Impact of Unreported Deaths on Old Age...
We examine inferences about old age mortality that arise when researchers use survey data matched to death records. We show that even small rates of failure to match respondents can lead to substantial...
View ArticleJuvenile Punishment, High School Graduation and Adult Crime: Evidence from...
This paper contributes to the debate on the impact of juvenile punishment on adult criminal recidivism and high school completion. We link the universe of case files of those who were convicted of a...
View ArticleBalance-Sheet Diversification in General Equilibrium: Identification and...
The paper uses disaggregated data on asset holdings and liabilities to estimate a general equilibrium model where each institution determines the diversification and size of the asset and liability...
View ArticleLong-Term Trends in Private School Enrollments by Family Income -- by Richard...
We use data from multiple national surveys to describe trends in private elementary school enrollment by family income from 1968-2013. We note several important trends. First, the private school...
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