Teacher Expectations Matter -- by Nicholas W. Papageorge, Seth Gershenson,...
We develop and estimate a joint model of the education and teacher-expectation production functions that identifies both the distribution of biases in teacher expectations and the impact of those...
View ArticleUsing Empirical Marginal Cost to Measure Market Power in the US Economy -- by...
Market power arises in the case where a seller is aware that raising output will depress price. In the profit-maximizing equilibrium with market power, price exceeds marginal cost. The Lerner...
View ArticleSocial Security Programs and Employment at Older Ages in the Netherlands --...
There have been a vast number of social security reforms aimed at increasing employment at older ages over the last two decades in the Netherlands. These reforms mainly lead to more stringent...
View ArticleAccounting for Firm Heterogeneity within U.S. Industries: Extended Supply-Use...
This paper presents experimental tables created by the U.S. Bureau of Economic Analysis comparing industry-specific shares of the components of total output of globally engaged firms located in the...
View ArticleThe Short-Run Effects of GDPR on Technology Venture Investment -- by Jian...
The General Data Protection Regulation (GDPR) came into effect in the European Union in May 2018. We study its short-run impact on investment in new and emerging technology firms. Our findings indicate...
View ArticleGlobalization, Gender, and the Family -- by Wolfgang Keller, Hale Utar
This paper shows that globalization has far-reaching implications for the economy's fertility rate and family structure because they influence work-life balance. Employing population register data on...
View ArticleWho Profits from Patents? Rent-Sharing at Innovative Firms -- by Patrick...
This paper analyzes how patent-induced shocks to labor productivity propagate into worker compensation using a new linkage of US patent applications to US business and worker tax records. We infer the...
View ArticleThe Impact of Medicaid Expansion on Voter Participation: Evidence from the...
In 2008, a group of uninsured low-income adults in Oregon was selected by lottery for the chance to apply for Medicaid. Using this randomized design and state administrative data on voter behavior, we...
View ArticleSocial Security Programs and the Elderly Employment in Japan -- by Takashi...
We examine how the change in the trend of the elderly's employment rates has been associated with changes in incentives of social security and its related programs in Japan since the 1980s. We compute...
View ArticleCollateral Damage: The Impact of Foreclosures on New Home Mortgage Lending in...
Foreclosures led to severe disruptions in home mortgage lending during the recent Great Recession and the Great Depression of the 1930s. It is difficult to measure these impacts in the modern market...
View ArticleSaving Regret -- by Axel H. Boersch-Supan, Tabea Bucher-Koenen, Michael D....
We define saving regret as the wish in hindsight to have saved more earlier in life. We measured saving regret and possible determinants in a survey of a probability sample of those aged 60-79. We...
View ArticleHeterogeneous Environmental and Grid Benefits from Rooftop Solar and the...
Federal and state policies in the U.S. subsidize electricity generation from 1.4 million rooftop solar arrays because of pollution avoidance benefits and grid congestion relief. Yet because these...
View ArticleMinimum Wages and the Distribution of Family Incomes -- by Arindrajit Dube
There is robust evidence that higher minimum wages increase family incomes at the bottom of the distribution. The long run (3 or more years) minimum wage elasticity of the non-elderly poverty rate with...
View ArticleFactor Incomes in Global Value Chains: The Role of Intangibles -- by Wen...
Recent studies document a decline in the share of labour and a simultaneous increase in the share of residual ('factorless') income in national GDP. We argue the need for study of factor incomes in...
View ArticleA Monetary Model of Bilateral Over-the-Counter Markets -- by Ricardo Lagos,...
We develop a model of monetary exchange in bilateral over-the-counter markets to study the effects of monetary policy on asset prices and financial liquidity. The theory predicts asset prices carry a...
View ArticlePolitical Discretion and Antitrust Policy: Evidence from the Assassination of...
We study the importance of discretion in antitrust enforcement by analyzing the response of asset prices to the sudden accession of Theodore Roosevelt to the presidency. During McKinley's term in...
View ArticleLong Time Out: Unemployment and Joblessness in Canada and the United States...
We compare patterns of unemployment and joblessness between Canada and the U.S. during the Great Recession. Similar to previous findings for the U.S. in Kroft et al. [2016], we document a rise in...
View ArticleSemiparametrically Efficient Estimation of the Average Linear Regression...
Let Y be an outcome of interest, X a vector of treatment measures, and W a vector of pre-treatment control variables. Here X may include (combinations of) continuous, discrete, and/or non-mutually...
View ArticleBankable Prices -- by Garth Heutel
Allowing emissions permits to be banked and borrowed over time can yield efficiency gains. I develop a model to demonstrate that banking and borrowing can also be allowed for a price policy. I compare...
View ArticleAttributing Medical Spending to Conditions: A Comparison of Methods -- by...
Partitioning medical spending into conditions is essential to understanding the cost burden of medical care. Two broad strategies have been used to measure disease-specific spending. The first...
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