The Long-Run Effects of Childhood Insurance Coverage: Medicaid...
This paper exploits the original introduction of Medicaid (1966-1970) and the federal mandate that states cover all cash welfare recipients to estimate the effect of childhood Medicaid eligibility on...
View ArticleThe Effect of Early Education on Social Preferences -- by Alexander W....
We present results from the first study to examine the causal impact of early childhood education on social preferences of children. We compare children who, at 3-4 years old, were randomized into...
View ArticleInvestment-less Growth: An Empirical Investigation -- by German Gutierrez,...
We analyze private fixed investment in the U.S. over the past 30 years. We show that investment is weak relative to measures of profitability and valuation - particularly Tobin's Q, and that this...
View ArticlePurchasing Power Disparity before 1914 -- by Peter H. Lindert
Economic historians' Divergence debates since 2000 have asked a different question from that asked by Angus Maddison. The issue has become "when did countries' contemporaneous purchasing powers...
View ArticleCharging Ahead: Prepaid Electricity Metering in South Africa -- by B. Kelsey...
The standard approach to recovering the cost of electricity provision is to bill customers monthly for past consumption. If unable to pay, customers face disconnection, the utility loses revenue, and...
View ArticleThe History of the Cross Section of Stock Returns -- by Juhani T. Linnainmaa,...
Using data spanning the 20th century, we show that most accounting-based return anomalies are spurious. When examined out-of-sample by moving either backward or forward in time, anomalies' average...
View ArticleActivism, Strategic Trading, and Liquidity -- by Kerry Back, Pierre...
We analyze dynamic trading in an anonymous market by an activist investor who can expend costly effort to affect firm value. We obtain the equilibrium in closed form for a general activism technology,...
View ArticleBounds on Treatment Effects in Regression Discontinuity Designs under...
A key assumption in regression discontinuity analysis is that units cannot affect the value of their running variable through strategic behavior, or manipulation, in a way that leads to sorting on...
View ArticleRelationship Lending and the Great Depression: Measurement and New...
The Great Depression remains ground zero for studying the non-monetary effects of financial crises. Despite the abundant scholarship on the period, lack of disaggregated data on lending activities has...
View ArticleClimate Risks and Market Efficiency -- by Harrison Hong, Frank Weikai Li,...
We investigate whether stock markets efficiently price risks brought on or exacerbated by climate change. We focus on drought, the most damaging natural disaster for crops and food-company cash flows....
View ArticleAccounting for Business Income in Measuring Top Income Shares: Integrated...
Business income is important in the upper tail of the personal income distribution, but the extent to which it is captured by measures of personal income varies substantially across tax regimes. Using...
View ArticleHealth, Human Capital and Domestic Violence -- by Nicholas W. Papageorge,...
We study the impact of health shocks on domestic violence and illicit drug use. We argue that health is a form of human capital that shifts incentives for risky behaviors, such as drug use, and also...
View ArticleThe Behavioralist as Policy Designer: The Need to Test Multiple Treatments to...
We explore Tinbergen's fundamental insight that policymakers need at least as many policy instruments as targets. We extend this idea using a large natural field experiment in water resource...
View ArticlePopulation Growth and Carbon Emissions -- by Gregory Casey, Oded Galor
We provide evidence that lower fertility can simultaneously increase income per capita and lower carbon emissions, eliminating a trade-off central to most policies aimed at slowing global climate...
View ArticleHeuristic Perceptions of the Income Tax: Evidence and Implications for...
Using responses from an incentivized tax forecasting task, we estimate the prevalence of previously discussed heuristics for simplifying tax forecasts (Liebman and Zeckhauser, 2004). We find strong...
View ArticlePortfolio Choices, Firm Shocks and Uninsurable Wage Risk -- by Andreas...
Assessing the importance of uninsurable wage risk for individual financial choices faces two challenges. First, the identification of the marginal effect requires a measure of at least one component of...
View ArticleITG Releases November 2016 U.S. Trading Volume
Fourth Consecutive Monthly Increase in U.S. Market Share New Monthly Records for POSIT Alert in the U.S. and Europe NEW YORK, Dec. 08, 2016 (GLOBE NEWSWIRE) -- ITG (NYSE:ITG), a leading independent...
View ArticlePassengers finally get to use the world's longest rail tunnel
The world's longest rail tunnel, the Gotthard Base Tunnel in Switzerland, will officially open on Sunday https://t.co/XAmyWhA1W7 â moneyscience (@moneyscience)â¦
View ArticleThe Entrepreneur: The Economic Function of Free Enterprise
This book presents the economic theories with regards to the entrepreneur of yesterday and those of more recent years, on which issue research has been developing exponentially since the last third of...
View ArticleThe Hermeneutic Side of Responsible Research and Innovation
The book investigates the meaning of RRI if little or no valid knowledge about consequences of innovation and technology is available. It proposes a hermeneutical turn to investigate narratives about...
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