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Globalization, Government Popularity, and the Great Skill Divide -- by Cevat G. Aksoy, Sergei Guriev, Daniel S. Treisman
Published: 25/09/2018How does international trade affect the popularity of governments and leaders? We provide the first large-scale, systematic evidence that the divide between skilled and unskilled workers worldwide is ... Read moreSource: papers.nber.org -
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Economists (and Economics) in Tech Companies -- by Susan Athey, Michael Luca
Published: 25/09/2018As technology platforms have created new markets and new ways of acquiring information, economists have come to play an increasingly central role in tech companies - tackling problems such as platform ... Read moreSource: papers.nber.org -
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STEM Careers and Technological Change -- by David J. Deming, Kadeem L. Noray
Published: 25/09/2018Science, Technology, Engineering, and Math (STEM) jobs are a key contributor to economic growth and national competitiveness. Yet STEM workers are perceived to be in short supply. This paper shows tha ... Read moreSource: papers.nber.org
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Diverging Trends in National and Local Concentration -- by Esteban Rossi-Hansberg, Pierre-Daniel Sarte, Nicholas Trachter
Published: 25/09/2018The views expressed herein are those of the authors and do not necessarily represent the views of the Federal Reserve Bank of Richmond or the Federal Reserve System. We thank Eric LaRose and Sara Ho f ... Read moreSource: papers.nber.org -
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The Pivotal Role of Fairness: Which Consumers Like Annuities? -- by Suzanne B. Shu, Robert Zeithammer, John W. Payne
Published: 25/09/2018Life annuities can be a valuable component of the decumulation stage of wealth during retirement. While economists argue that most retirees should annuitize, actual demand in the marketplace is low. W ... Read moreSource: papers.nber.org -
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When does Product Liability Risk Chill Innovation? Evidence from Medical Implants -- by Alberto Galasso, Hong Luo
Published: 25/09/2018Liability laws designed to compensate for harms caused by defective products may also affect innovation. We examine this issue by exploiting a major quasi-exogenous increase in liability risk faced by ... Read moreSource: papers.nber.org
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The Consequences of Academic Match between Students and Colleges -- by Eleanor Wiske Dillon, Jeffrey A. Smith
Published: 25/09/2018We consider the effects of student ability, college quality, and the interaction between the two on academic outcomes and earnings using data on two cohorts of college enrollees. Student ability and c ... Read moreSource: papers.nber.org -
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Fiscal and Education Spillovers from Charter School Expansion -- by Matthew Ridley, Camille Terrier
Published: 25/09/2018The fiscal and educational consequences of charter expansion for non-charter students are central issues in the debate over charter schools. Do charter schools drain resources and high-achieving peers ... Read moreSource: papers.nber.org -
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Innovation, Knowledge Diffusion, and Globalization -- by Nelson Lind, Natalia Ramondo
Published: 25/09/2018We review a recent body of theoretical literature that links the creation and diffusion of knowledge and technology to openness. We analyze two channels through which the spread of new ideas occurs: i ... Read moreSource: papers.nber.org
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History Remembered: Optimal Sovereign Default on Domestic and External Debt -- by Pablo D'Erasmo, Enrique G. Mendoza
Published: 25/09/2018Infrequent but turbulent overt sovereign defaults on domestic creditors are a "forgotten history" in Macroeconomics. We propose a heterogeneous-agents model in which the government chooses optimal deb ... Read moreSource: papers.nber.org -
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The Economic Effect of Immigration Policies: Analyzing and Simulating the U.S. Case -- by Andri Chassamboulli, Giovanni Peri
Published: 25/09/2018In this paper we analyze the economic effects of changing immigration policies in a realistic institutional set-up, using a search model calibrated to the migrant flows between the US and the rest of ... Read moreSource: papers.nber.org -
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Information: Hard and Soft -- by Jose Maria Liberti, Mitchell A. Petersen
Published: 25/09/2018Information is a fundamental component of all financial transactions and markets, but it can arrive in multiple forms. We define what is meant by hard and soft information and describe the relative ad ... Read moreSource: papers.nber.org
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Commodity Currencies and Monetary Policy -- by Michael B. Devereux, Gregor W. Smith
Published: 25/09/2018Countries that specialize in commodity exports often exhibit a correlation between the relevant commodity price and the value of their currency. We explore a natural but little-studied explanation for ... Read moreSource: papers.nber.org -
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Measurement Error in Imputed Consumption -- by Scott R. Baker, Lorenz Kueng, Steffen Meyer, Michaela Pagel
Published: 25/09/2018Because of limitations in survey-based measures of household consumption, a growing literature uses an alternative measure of consumer expenditures commonly referred to as "imputed consumption." This ... Read moreSource: papers.nber.org -
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Why Does Credit Growth Crowd Out Real Economic Growth? -- by Stephen G. Cecchetti, Enisse Kharroubi
Published: 25/09/2018We examine the negative relationship between the rate of growth in credit and the rate of growth in output per worker. Using a panel of 20 countries over 25 years, we establish that there is a robust ... Read moreSource: papers.nber.org
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Vanished Classmates: The Effects of Local Immigration Enforcement on Student Enrollment -- by Thomas Dee, Mark Murphy
Published: 25/09/2018Immigration and Customs Enforcement (ICE) is the federal law-enforcement agency with primary responsibility for enforcing immigration laws within the U.S. However, for over a decade, ICE has formed pa ... Read moreSource: papers.nber.org -
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Inheritance Taxation and Wealth Effects on the Labor Supply of Heirs -- by Fabian Kindermann, Lukas Mayr, Dominik Sachs
Published: 25/09/2018The taxation of bequests can have a positive impact on the labor supply of heirs through wealth effects. This leads to an increase in future labor income tax revenue on top of direct bequest tax reven ... Read moreSource: papers.nber.org -
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MPC Heterogeneity in Europe: Sources and Policy Implications -- by Miguel Ampudia, Russell Cooper, Julia Le Blanc, Guozhong Zhu
Published: 25/09/2018This paper studies household financial choices in four EU countries. The estimation of key parameters uses a simulation method of moments approach to match moments on asset market participation rates, ... Read moreSource: papers.nber.org
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Macroprudential FX Regulations: Shifting the Snowbanks of FX Vulnerability? -- by Toni Ahnert, Kristin Forbes, Christian Friedrich, Dennis Reinhardt
Published: 25/09/2018Can macroprudential foreign exchange (FX) regulations on banks reduce the financial and macroeconomic vulnerabilities created by borrowing in foreign currency? To evaluate the effectiveness and uninte ... Read moreSource: papers.nber.org -
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Lazy Prices -- by Lauren Cohen, Christopher Malloy, Quoc Nguyen
Published: 25/09/2018Using the complete history of regular quarterly and annual filings by U.S. corporations from 1995-2014, we show that when firms make an active change in their reporting practices, this conveys an impo ... Read moreSource: papers.nber.org -
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Capital Reallocation -- by Andrea L. Eisfeldt, Yu Shi
Published: 25/09/2018Capital reallocation is procyclical, despite measured productive reallocative opportunities being acyclical, or even countercyclical. This paper reviews the advances in the literature studying the cau ... Read moreSource: papers.nber.org
