Intellectual Property Use in Middle Income Countries: The Case of Chile -- by...
We analyze the use of intellectual property (IP) by firms in Chile over the decade 1995-2005 as the then middle-income country experienced rapid economic growth of 4.7 percent per year. We use a novel...
View ArticleEffects of Expanding Health Screening on Treatment - What Should We Expect?...
Screening interventions can produce very different treatment and health outcomes, depending on the reasons why patients went unscreened in the first place. Economists have paid scant attention to these...
View ArticleChinese Capital Market: An Empirical Overview -- by Grace Xing Hu, Jun Pan,...
The Chinese capital market, despite its relative short history in its modern form, has experienced a tremendous growth and is now the second largest in the world. Due to China's tight capital controls,...
View ArticleThe Industrialization of South America Revisited: Evidence from Argentina,...
We use new manufacturing GDP time series to examine the industrialization in Argentina, Brazil, Chile, and Colombia since the early twentieth century. We uncover variation across countries and over...
View ArticleTrade with Correlation -- by Nelson Lind, Natalia Ramondo
We develop a trade model in which productivity--the result of a country's ability to adopt global technologies--presents an arbitrary pattern of spatial correlation. The model generates the full class...
View ArticleInvestment versus Output Subsidies: Implications of Alternative Incentives...
This paper examines the choice between subsidizing investment or output to promote socially-desirable production. We exploit a natural experiment in which wind farm developers could choose an...
View ArticleSticky Expectations and Consumption Dynamics -- by Christopher D. Carroll,...
Macroeconomic models often invoke consumption "habits" to explain the substantial persistence of aggregate consumption growth. But a large literature has found no evidence of habits in microeconomic...
View ArticleWorker Flows, Entry and Productivity in the New Zealand Construction Industry...
The 21st century global decline in productivity growth is not well understood. One possible contributor is a decline in economic dynamism. We explore the contribution of firm formation and employee...
View ArticleBank Liquidity, Credit Supply, and the Environment -- by Ross Levine, Chen...
We evaluate the impact of the credit conditions facing corporations on their emissions of toxic air pollutants. Exploiting cross-county, cross-time shale discoveries that generated liquidity windfalls...
View ArticlePolitical Campaigns and Church Contributions -- by Daniel M. Hungerman, Kevin...
We combine a new dataset of weekly Catholic church donations with a new dataset of presidential-election campaign stops to explore the impact of stops on donations. We find that stops increase...
View ArticleShort-Run Pain, Long-Run Gain? Recessions and Technological Transformation....
Recent empirical evidence suggests that job polarization associated with skill-biased technological change accelerated during the Great Recession. We use a standard neoclassical growth framework to...
View ArticleIncentives Can Reduce Bias in Online Reviews -- by Ioana Marinescu, Nadav...
Online reviews are a powerful means of propagating the reputations of products, services, and even employers. However, existing research suggests that online reviews often suffer from selection...
View ArticleWealth Taxation and Wealth Accumulation: Theory and Evidence from Denmark --...
Using administrative wealth records from Denmark, we study the effects of wealth taxes on wealth accumulation. Denmark used to impose one of the world's highest marginal tax rates on wealth, but this...
View ArticleIs There a Role for Patents in the Financing of Innovative Firms? -- by...
It is argued by many that one of the benefits of the patent system is that it creates a property right to invention that enables firms to obtain financing for the development of that invention. In this...
View ArticleWhat do Self-Reports of Wellbeing Say about Life-Cycle Theory and Policy? --...
I respond to Atkinson's plea to revive welfare economics, and to considering alternative ethical frameworks when making policy recommendations. I examine a measure of self-reported evaluative...
View ArticleEconomic and Policy Uncertainty: Export Dynamics and the Value of Agreements...
We examine the interaction of economic and policy uncertainty in a dynamic, heterogeneous firms model. Uncertainty about foreign income, trade protection and their interaction dampens export...
View ArticleKeynes on the Sequencing of Economic Policy: Recovery and Reform in 1933 --...
On December 31 1933, The New York Times published an open letter from John Maynard Keynes to President Franklin D. Roosevelt. In it Keynes encouraged FDR to expand public works through government...
View ArticleTaxing Hidden Wealth: The Consequences of U.S. Enforcement Initiatives on...
In 2008, the IRS initiated efforts to curb the use of offshore accounts to evade taxes. This paper uses administrative microdata to examine the impact of the enforcement efforts on taxpayers' reporting...
View ArticleStress Tests and Small Business Lending -- by Kristle Cortes, Yuliya...
Post-crisis stress tests have altered banks' credit supply to small business. Banks affected by stress tests reduce credit supply and raise interest rates on small business loans. Banks price the...
View ArticleEarly-Stage Business Formation: An Analysis of Applications for Employer...
This paper reports on the development and analysis of a newly constructed dataset on the early stages of business formation. The data are based on applications for Employer Identification Numbers...
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