The Effect of State Medicaid Expansions on Prescription Drug Use: Evidence...
This study provides a national analysis of how the 2014 Affordable Care Act (ACA) Medicaid expansions have affected aggregate prescription drug utilization. Given the prominent role of prescription...
View Article'Acting Wife': Marriage Market Incentives and Labor Market Investments -- by...
Do single women avoid career-enhancing actions because these actions could signal personality traits, like ambition, that are undesirable in the marriage market? We answer this question through two...
View ArticlePrestige and Profit: The Royal Society of Arts and Incentives for Innovation,...
Debates have long centered around the relative merits of prizes and other incentives for technological innovation. Some economists have cited the experience of the prestigious Royal Society of Arts...
View ArticlePolitical Determinants of Competition in the Mobile Telecommunication...
We study how political factors shape competition in the mobile telecommunication sector. We show that the way a government designs the rules of the game has an impact on concentration, competition, and...
View ArticleLocation Choice, Portfolio Choice -- by Ioannis Branikas, Harrison Hong,...
Households hold nondiversified stock portfolios of firms headquartered near their city of residence. Explanations assign a causal role for proximity, either in generating an informational advantage or...
View ArticleMisallocation, Selection and Productivity: A Quantitative Analysis with Panel...
We use household-level panel data from China and a quantitative framework to document the extent and consequences of factor misallocation in agriculture. We find that there are substantial frictions in...
View ArticleBirth Order and Delinquency: Evidence from Denmark and Florida -- by Sanni N....
Birth order has been found to have a surprisingly large influence on educational attainment, yet much less is known about the role of birth order on delinquency outcomes such as disciplinary problems...
View ArticleInvariance times. (arXiv:1702.01045v1 [q-fin.CP])
On a probability space $(\Omega,\mathcal{A},\mathbb{Q})$ we consider two filtrations $\mathbb{F}\subset \mathbb{G}$ and a $\mathbb{G}$ stopping time $\theta$ such that the $\mathbb{G}$ predictable...
View ArticleEmergence of Distributed Coordination in the Kolkata Paise Restaurant Problem...
In this paper, we study a large-scale distributed coordination problem and propose efficient adaptive strategies to solve the problem. The basic problem is to allocate finite number of resources to...
View ArticleApproaches to Asian Option Pricing with Discrete Dividends....
The method and characteristics of several approaches to the pricing of discretely monitored arithmetic Asian options on stocks with discrete, absolute dividends are described. The contrast between...
View ArticleOn utility maximization without passing by the dual problem....
We treat utility maximization from terminal wealth for an agent dynamically investing in a continuous-time financial market and receiving a possibly unbounded random endowment. The utility function is...
View ArticleImmigration and the Rise of American Ingenuity -- by Ufuk Akcigit, John...
This paper builds on the analysis in Akcigit, Grigsby, and Nicholas (2017) by using U.S. patent and Census data to examine macro and micro-level aspects of the relationship between immigration and...
View ArticleThe Anatomy of Sentiment-Driven Fluctuations -- by Sushant Acharya, Jess...
We characterize the entire set of linear equilibria of beauty contest games under general information structures. In particular, we focus on equilibria in which sentiments, that is self-fulfilling...
View ArticleThe Country Chronologies to Exchange Rate Arrangements into the 21st Century:...
Detailed country-by-country chronologies are an informative companion piece to our paper "Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?," which provides a comprehensive...
View ArticleExchange Arrangements Entering the 21st Century: Which Anchor Will Hold? --...
This paper provides a comprehensive history of anchor or reference currencies, exchange rate arrangements, and a new measure of foreign exchange restrictions for 194 countries and territories over...
View ArticleThe Global Rise of Corporate Saving -- by Peter Chen, Loukas Karabarbounis,...
The sectoral composition of global saving changed dramatically during the last three decades. Whereas in the early 1980s most of global investment was funded by household saving, nowadays nearly...
View ArticleThe Recent Growth Boom in Developing Economies: A Structural Change...
Growth has accelerated in a wide range of developing countries over the last couple of decades, resulting in an extraordinary period of convergence with the advanced economies. We analyze this...
View ArticleAntitrust Treatment of Nonprofits: Should Hospitals Receive Special Care? --...
Nonprofit hospitals receive favorable tax treatment in exchange for providing socially beneficial activities. Extending this rationale would suggest that, insofar as suppression of competition would...
View ArticleSocial Ties and Favoritism in Chinese Science -- by Raymond Fisman, Jing Shi,...
We study favoritism via hometown ties, a common source of favor exchange in China, in fellow selection of the Chinese Academies of Sciences and Engineering. Hometown ties to fellow selection committee...
View ArticleCapital Misallocation: Frictions or Distortions? -- by Joel M. David, Venky...
We study a model of investment in which both technological and informational frictions as well as institutional/policy distortions lead to capital misallocation, i.e., static marginal products are not...
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