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Government Spending and Legislative Organization: Quasi-experimental Evidence from Germany

By Peter Egger and Marko Koethenbuerger

蝌蚪网 Journal: Applied Economics, October 2010

This paper presents empirical evidence of a positive effect of council size on government spending using a dataset of 2,056 municipalities in the German state of Bavaria over a period of 21 years. We apply a regression discontinuity design to avoid an end...

Defensive Investments and the Demand for Air Quality: Evidence from the NOx Budget Program

By Olivier 顿别蝉肠丑锚苍别蝉, Michael Greenstone, and Joseph S. Shapiro

蝌蚪网 Review, October 2017

The demand for air quality depends on health impacts and defensive investments, but little research assesses the empirical importance of defenses. A rich quasi-experiment suggests that the Nitrogen Oxides (NOx) Budget Program (NBP), a cap-and-trade market...

Globalization, Brain Drain, and Development

By 贵谤茅诲茅谤颈肠 Docquier and Hillel Rapoport

Journal of Economic Literature, September 2012

This paper reviews four decades of economics research on the brain drain, with a focus on recent contributions and on development issues. We first assess the magnitude, intensity, and determinants of the brain drain, showing that brain drain (or high-skil...

Battle Scars? The Puzzling Decline in Employment and Rise in Disability Receipt among Vietnam Era Veterans

By David H. Autor, Mark G. Duggan, and David S. Lyle

蝌蚪网 Review, May 2011

Using Current Population Survey and US Army administrative data, we document that between 2000 and 2010, the employment rate of Vietnam era veterans fell markedly relative to non-veterans of the same cohorts while simultaneously their enrollment increased...

Mindful Economics: The Production, Consumption, and Value of Beliefs

[Symposium: Motivated Beliefs]

By Roland 叠茅苍补产辞耻 and Jean Tirole

Journal of Economic Perspectives, Summer 2016

In this paper, we provide a perspective into the main ideas and findings emerging from the growing literature on motivated beliefs and reasoning. This perspective emphasizes that beliefs often fulfill important psychological and functional needs of the in...

On Testing for Speculative Bubbles

[Symposium: Bubbles]

By Robert P. Flood and Robert J. Hodrick

Journal of Economic Perspectives, Spring 1990

The possibility that movements in prices could be due to the self-fulfilling prophecies of market participants has long intrigued observers of free markets. This paper surveys the current state of the empirically-oriented literature concerning rational dy...

Shifting Mandates: The Federal Reserve's First Centennial

By Carmen M. Reinhart and Kenneth S. Rogoff

蝌蚪网 Review, May 2013

The Federal Reserve's mandate has evolved considerably over the organization's hundred-year history. It was changed from an initial focus in 1913 on financial stability, to fiscal financing in World War II and its aftermath, to a strong anti-inflation foc...

Monopoly and the Incentive to Innovate When Adoption Involves Switchover Disruptions

By Thomas J. Holmes, David K. Levine, and James A. Schmitz

蝌蚪网 Journal: Microeconomics, August 2012

Arrow (1962) argued that since a monopoly restricts output relative to a competitive industry, it would be less willing to pay a fixed cost to adopt a new technology. We develop a new theory of why a monopolistic industry innovates less. Firms often face ...

Gender Differences in Salary and Promotion in the Humanities

By Donna K. Ginther and Kathy J. Hayes

蝌蚪网 Review, May 1999

Are Biofuels the Culprit? OPEC, Food, and Fuel

By Gal Hochman, Deepak Rajagopal, and David Zilberman

蝌蚪网 Review, May 2010

Aid under Fire: Development Projects and Civil Conflict

By Benjamin Crost, Joseph Felter, and Patrick Johnston

蝌蚪网 Review, June 2014

We estimate the causal effect of a large development program on conflict in the Philippines through a regression discontinuity design that exploits an arbitrary poverty threshold used to assign eligibility for the program. We find that barely eligible m...

Environmental Health Risks and Housing Values: Evidence from 1,600 Toxic Plant Openings and Closings

By Janet Currie, Lucas Davis, Michael Greenstone, and Reed Walker

蝌蚪网 Review, February 2015

Regulatory oversight of toxic emissions from industrial plants and understanding about these emissions' impacts are in their infancy. Applying a research design based on the openings and closings of 1,600 industrial plants to rich data on housing marke...

Was Electricity a General Purpose Technology? Evidence from Historical Patent Citations

By Petra Moser and Tom Nicholas

蝌蚪网 Review, May 2004

The Most Dangerous Idea in Federal Reserve History: Monetary Policy Doesn't Matter

By Christina D. Romer and David H. Romer

蝌蚪网 Review, May 2013

Monetary policy-makers' beliefs about how the economy functions are a key determinant of the conduct of policy. That monetary policy has little impact under the prevailing circumstances is a belief which has resurfaced periodically over the Federal Reserv...

A Cautionary Tale about the Use of Administrative Data: Evidence from Age of Marriage Laws

By Rebecca M. Blank, Kerwin Kofi Charles, and James M. Sallee

蝌蚪网 Journal: Applied Economics, April 2009

This paper demonstrates that administrative data may be inferior to survey data under particular circumstances. We examine the effect of state laws governing the minimum age of marriage in the United States. The estimated effects of these laws are much...

Keeping It Simple: Financial Literacy and Rules of Thumb

By Alejandro Drexler, Greg Fischer, and Antoinette Schoar

蝌蚪网 Journal: Applied Economics, April 2014

Micro-entrepreneurs often lack the financial literacy required to make important financial decisions. We conducted a randomized evaluation with a bank in the Dominican Republic to compare the impact of two distinct programs: standard accounting trainin...

Organizing Debt Relief: The Need for a New Institution

[Symposium: New Institutions for Developing Country Debt]

By Peter B. Kenen

Journal of Economic Perspectives, Winter 1990

In March 1989, the new U.S. Secretary of the Treasury, Nicholas Brady, endorsed a change in strategy for dealing with developing country debt, calling for a three-year waiver of clauses in existing loan agreements that stand in the way of debt reduction "...

Policy Watch: Tax Credits for Low-Income Workers with Children

By C. Eugene Steuerle

Journal of Economic Perspectives, Summer 1990

The most important tax credits available to low-income households with children are the earned income tax credit (EITC), the child tax credit, and the child and dependent care tax credit (hereafter, child-care credit). Only the EITC and the child-care cre...

Women's Quest for Economic Equality

[Symposium: Women in the Labor Market]

By Victor R. Fuchs

Journal of Economic Perspectives, Winter 1989

The persistence of substantial gender inequality a quarter-century after the passage of major antidiscrimination legislation and several decades of massive social change poses a major problem for economic analysis and policy. Why are women at an economic ...

Fixed Effects, Invariance, and Spatial Variation in Intergenerational Mobility

By Gary Chamberlain

蝌蚪网 Review, May 2016

Chetty et al. (2014) document variation across commuting zones in intergenerational mobility. With over 700 commuting zones, the task of estimating place effects involves a high-dimension parameter space. I develop a fixed-effects model along with an orac...