Related news
-
![]()
Longitudinal Determinants of End-of-Life Wealth Inequality -- by James M. Poterba, Steven F. Venti, David A. Wise
Published: 26/09/2017This paper examines inequality in end-of-life wealth and the factors that contribute to individuals reaching this life stage with few financial resources. It analyzes repeated cross-sections of the He ... Read moreSource: papers.nber.org -
-
![]()
Comparing 2SLS vs 2SRI for Binary Outcomes and Binary Exposures -- by Anirban Basu, Norma Coe, Cole G. Chapman
Published: 26/09/2017This study uses Monte Carlo simulations to examine the ability of the two-stage least-squares (2SLS) estimator and two-stage residual inclusion (2SRI) estimators with varying forms of residuals to est ... Read moreSource: papers.nber.org -
![]()
International Credit Supply Shocks -- by Ambrogio Cesa-Bianchi, Andrea Ferrero, Alessandro Rebucci
Published: 26/09/2017House prices and exchange rates can potentially amplify the expansionary effect of capital inflows by inflating the value of collateral. We first set up a model of collateralized borrowing in domestic ... Read moreSource: papers.nber.org
-
![]()
Employment Hysteresis from the Great Recession -- by Danny Yagan
Published: 26/09/2017This paper uses U.S. local areas as a laboratory to test whether the Great Recession depressed 2015 employment. In full-population longitudinal data, I find that exposure to a 1-percentage-point-large ... Read moreSource: papers.nber.org -
![]()
East Asian Financial and Economic Development -- by Randall Morck, Bernard Yeung
Published: 26/09/2017Japan, an isolated, backward country in the 1860s, industrialized rapidly to become a major industrial power by the 1930s. South Korea, among the world's poorest countries in the 1960s, joined the ran ... Read moreSource: papers.nber.org -
![]()
Central Banks: Evolution and Innovation in Historical Perspective -- by Michael D. Bordo, Pierre L. Siklos
Published: 26/09/2017Central banks have evolved for close to four centuries. This paper argues that for two centuries central banks caught up to the strategies followed by the leading central banks of the era; the Bank of ... Read moreSource: papers.nber.org
-
![]()
Who Really Benefits from Consumption Tax Cuts? Evidence from a Large VAT Reform in France. -- by Youssef Benzarti, Dorian Carloni
Published: 26/09/2017In this paper we evaluate the incidence of a large cut in value-added taxes (VAT) for French sit-down restaurants. In contrast to previous studies that focus on prices only, we estimate its effect on ... Read moreSource: papers.nber.org -
![]()
What Goes Up May Not Come Down: Asymmetric Incidence of Value-Added Taxes -- by Youssef Benzarti, Dorian Carloni, Jarkko Harju, Tuomas Kosonen
Published: 26/09/2017This paper shows that prices respond more to increases than to decreases in Value-Added Taxes (VATs). First, using all VAT reforms from 1996 to 2015 across all European countries we show that prices r ... Read moreSource: papers.nber.org -
![]()
How Credit Cycles across a Financial Crisis -- by Arvind Krishnamurthy, Tyler Muir
Published: 26/09/2017We study the behavior of credit and output across a financial crisis cycle using information from credit spreads. We show the transition into a crisis occurs with a large increase in credit spreads, i ... Read moreSource: papers.nber.org
-
![]()
Vocational and Career Tech Education in American High Schools: The Value of Depth Over Breadth -- by Daniel Kreisman, Kevin Stange
Published: 26/09/2017Vocational education is a large part of the high school curriculum, yet we have little understanding of what drives vocational enrollment or whether these courses help or harm early careers. To addres ... Read moreSource: papers.nber.org -
![]()
Flood Risk Belief Heterogeneity and Coastal Home Price Dynamics: Going Under Water? -- by Laura A. Bakkensen, Lint Barrage
Published: 26/09/2017How will climate risk beliefs affect coastal housing market dynamics? This paper provides both theoretical and empirical evidence: First, we build a dynamic housing market model with heterogeneity in ... Read moreSource: papers.nber.org -
![]()
Crude by Rail, Option Value, and Pipeline Investment -- by Thomas R. Covert, Ryan Kellogg
Published: 26/09/2017The recent large-scale use of railroads to transport crude oil out of newly discovered shale formations has no recent precedent in the U.S. oil industry. This paper addresses the question of whether c ... Read moreSource: papers.nber.org
-
![]()
Attribute Substitution in Household Vehicle Portfolios -- by James Archsmith, Kenneth Gillingham, Christopher R. Knittel, David S. Rapson
Published: 26/09/2017Household preferences for goods with a bundle of attributes may have complex substitution patterns when one attribute is changed. For example, a household faced with an exogenous increase in the size ... Read moreSource: papers.nber.org -
![]()
Agricultural Trade Reform, Reallocation and Technical Change: Evidence from the Canadian Prairies -- by Mark Brown, Shon M. Ferguson, Crina Viju
Published: 26/09/2017We decompose the impact of trade reform on technology adoption and land use to study how aggregate changes were driven by reallocation versus within-farm adaptation. Using detailed census data coverin ... Read moreSource: papers.nber.org -
![]()
What Lies Beneath: Pipeline Awareness and Aversion -- by Evan Herrnstadt, Richard L. Sweeney
Published: 26/09/2017Stated safety concerns are a major impediment to making necessary expansions to the natural gas pipeline network. While revealed willingness to pay to avoid existing natural gas pipelines appears smal ... Read moreSource: papers.nber.org
-
![]()
The Effects of Accountability Incentives in Early Childhood Education -- by Daphna Bassok, Thomas Dee, Scott Latham
Published: 26/09/2017In an effort to enhance the quality of early childhood education (ECE) at scale, nearly all U.S. states have recently adopted Quality Rating and Improvement Systems (QRIS). These accountability system ... Read moreSource: papers.nber.org -
![]()
ProPelled: The Effects of Grants on Graduation, Earnings, and Welfare -- by Jeffrey T. Denning, Benjamin M. Marx, Lesley J. Turner
Published: 26/09/2017We estimate the effect of grant aid on poor college students' attainment and earnings using student-level administrative data from four-year public colleges in Texas. To identify these effects, we exp ... Read moreSource: papers.nber.org -
![]()
The Effect of House Prices on Household Borrowing: A New Approach -- by James Cloyne, Kilian Huber, Ethan Ilzetzki, Henrik Kleven
Published: 26/09/2017We investigate the effect of house prices on household borrowing using administrative mortgage data from the UK and a new empirical approach. The data contain household-level information on house pric ... Read moreSource: papers.nber.org
-
![]()
Diagnostic Expectations and Stock Returns -- by Pedro Bordalo, Nicola Gennaioli, Rafael La Porta, Andrei Shleifer
Published: 26/09/2017We revisit La Porta's (1996) finding that returns on stocks with the most optimistic analyst long term earnings growth forecasts are substantially lower than those for stocks with the most pessimistic ... Read moreSource: papers.nber.org -
![]()
Stopping college football is a moral imperative
Published: 25/09/2017The University of California, Berkeley must stop systematically and irrevocably damaging the human brain. It is unethical. Cal should cease supporting American football. Earlier this year we learned t ... Read moreSource: blogs.berkeley.edu -
![]()
Becoming an American citizen in the age of Trump
Published: 25/09/2017"I feel proud to be a U.S. citizen at a time like this. And I feel ashamed to be a U.S. citizen at a time like this. This ambivalence, I have come to realize, is the most American thing about me." Read moreSource: blogs.berkeley.edu
