Peer Quality and the Academic Benefits to Attending Better Schools -- by Mark...
Despite strong demand for attending high schools with better peers, there is mixed evidence on whether doing so improves academic outcomes. We estimate the cognitive returns to high school quality...
View ArticleDoes Partisan Conflict Deter FDI Inflows to the US? -- by Marina Azzimonti
I analyze the effects of political uncertainty on foreign direct investment flows to the US using a novel indicator, the partisan conflict index (PCI). Partisan conflict is relevant for the evolution...
View ArticleSovereign Risk and Bank Lending: Evidence from 1999 Turkish Earthquake -- by...
We investigate the effect of sovereign risk on banks' credit provision. We use the August 1999 Marmara Earthquake as an unanticipated exogenous fiscal shock that led to an increase in Turkish...
View ArticleEmergence of Asia: Reforms, Corporate Savings, and Global Imbalances -- by...
One of the explanations for global imbalances is the self-financing behavior of credit-constrained firms in rapidly growing emerging markets. We use an extensive firm-level data set from several Asian...
View ArticleDifficulty to Reach Respondents and Nonresponse Bias: Evidence from Large...
How high is unemployment? How low is labor force participation? Is obesity more prevalent among men? How large are household expenditures? We study the sources of the relevant official statistics--the...
View ArticleThe Value of Trading Relationships in Turbulent Times -- by Marco Di Maggio,...
This paper investigates the ways in which the network of relationships between dealers shapes their trading behavior in the corporate bond market. They charge lower spreads to dealers with whom they...
View ArticleInflation at the Household Level -- by Greg Kaplan, Sam Schulhofer-Wohl
We use scanner data to estimate inflation rates at the household level. Households' inflation rates are remarkably heterogeneous, with an interquartile range that varies between 6.2 and 9.0 percentage...
View ArticleDebt Crises: For Whom the Bell Tolls -- by Harold Cole, Daniel Neuhann,...
What a country has done in the past, and what other countries are doing in the present, can feedback for good or for ill in debt markets. We develop a simple model of sovereign bond markets with global...
View ArticleMigration and Redistribution: Why the Federal Governance of an Economic Union...
Federal governance matters. Policy coordination allows the economic union to exercise monopsony power over migrants. Therefore the migration volumes under the policy-competition regime exceed those...
View ArticleThe Effect of Pollution on Worker Productivity: Evidence from Call-Center...
We investigate the effect of pollution on worker productivity in the service sector by focusing on two call centers in China. Using precise measures of each worker's daily output linked to daily...
View ArticleManagement as a Technology? -- by Nicholas Bloom, Raffaella Sadun, John Van...
Are some management practices akin to a technology that can explain company and national productivity, or do they simply reflect contingent management styles? We collect data on core management...
View ArticleIndividual Migration and Household Incomes -- by Julia Garlick, Murray...
We estimate the returns to internal migration in South Africa. These appear to be the first nationally representative estimates of the return to migration for any African country-- a somewhat...
View ArticleCollege Attrition and the Dynamics of Information Revelation -- by Peter...
This paper investigates the role played by informational frictions in college and the workplace. We estimate a dynamic structural model of schooling and work decisions, where individuals have imperfect...
View ArticleFinancing Durable Assets -- by Adriano A. Rampini
This paper studies the effect of durability on the financing of durable assets. We show that more durable assets require larger down payments of internal funds per unit of capital making them harder to...
View ArticleTuskegee and the Health of Black Men -- by Marcella Alsan, Marianne Wanamaker
For forty years, the Tuskegee Study of Untreated Syphilis in the Negro Male passively monitored hundreds of adult black males with syphilis despite the availability of effective treatment. The study's...
View ArticleThe Incidental Fertility Effects of School Condom Distribution Programs -- by...
While the fertility effects of improving teenagers' access to contraception are theoretically ambiguous, most empirical work has shown that access decreases teen fertility. In this paper, we consider...
View ArticleThe Political Economy of Underfunded Municipal Pension Plans -- by Jeffrey...
This paper analyzes the determinants of underfunding of local government's pension funds using a politico-economic overlapping generations model. We show that a binding downpayment constraint in the...
View ArticleKeeping College Options Open: A Field Experiment to Help All High School...
Recent research suggests that the college application process itself prevents access. This paper reports results from a large school-based experiment in which application assistance is incorporated...
View ArticleMacroeconomics and Household Heterogeneity -- by Dirk Krueger, Kurt Mitman,...
The goal of this chapter is to study how, and by how much, household income, wealth, and preference heterogeneity amplify and propagate a macroeconomic shock. We focus on the U.S. Great Recession of...
View ArticleClaims-Shifting: The Problem of Parallel Reimbursement Regimes -- by Olesya...
Parallel reimbursement regimes, under which providers have some discretion over which payer gets billed for patient treatment, are a common feature of health care markets. In the U.S., the largest such...
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