Long-Term Orientation and Educational Performance -- by David Figlio, Paola...
We use remarkable population-level administrative education and birth records from Florida to study the role of Long-Term Orientation on the educational attainment of immigrant students living in the...
View ArticleEmployment Effects of the ACA Medicaid Expansions -- by Pauline Leung,...
We examine whether the recent expansions in Medicaid from the Affordable Care Act reduced "employment lock" among childless adults who were previously ineligible for public coverage. We compare...
View ArticleEstimating Currency Misalignment Using the Penn Effect: It's Not as Simple As...
We investigate the strength of the Penn effect in the most recent version of the Penn World Tables (PWTs). We find that the earlier findings of a Penn effect are confirmed, but that there is some...
View ArticleThe More We Die, The More We Sell? A Simple Test of the Home-Market Effect --...
The home-market effect, first hypothesized by Linder (1961) and later formalized by Krugman (1980), is the idea that countries with larger demand for some products at home tend to have larger sales of...
View ArticleThe Impact of Removing Tax Preferences for U.S. Oil and Natural Gas...
This paper presents a novel methodology for estimating impacts on domestic supply of oil and natural gas arising from changes in the tax treatment of oil and gas production. It corrects a downward bias...
View ArticleEstimating Path Dependence in Energy Transitions -- by Kyle C. Meng
Addressing climate change requires transitioning away from coal-based energy. Recent structural change models demonstrate that temporary interventions could induce permanent fuel switching when...
View ArticleFrom Chronic Inflation to Chronic Deflation: Focusing on Expectations and...
The paper discusses policy relevant models, going from (1) chronic inflation in the 20th century after WWII, to (2) credit sudden stop episodes that got exacerbated in Developed Market economies after...
View ArticleThe Persistent Power of Behavioral Change: Long-Run Impacts of Temporary...
I use a field experiment in rural Kenya to study how temporary incentives to save impact long-run economic outcomes. Study participants randomly selected to receive large temporary interest rates on an...
View ArticleThe I Theory of Money -- by Markus K. Brunnermeier, Yuliy Sannikov
A theory of money needs a proper place for financial intermediaries. Intermediaries diversify risks and create inside money. In downturns, micro-prudent intermediaries shrink their lending activity,...
View ArticleTrophy Hunting vs. Manufacturing Energy: The Price-Responsiveness of Shale...
We analyze the relative price elasticity of unconventional versus conventional natural gas extraction. We separately analyze three key stages of gas production: drilling wells, completing wells, and...
View ArticleEarly Effects of the 2010 Affordable Care Act Medicaid Expansions on Federal...
We test whether early Affordable Care Act (ACA) Medicaid expansions in Connecticut (CT), Minnesota (MN), California (CA), and the District of Columbia (DC) affected SSI applications, SSI and DI awards,...
View ArticleThe Pros and Cons of Sick Pay Schemes: Testing for Contagious Presenteeism...
This paper provides an analytical framework and uses data from the US and Germany to test for the existence of contagious presenteeism and negative externalities in sickness insurance schemes. The...
View ArticlePrice of Long-Run Temperature Shifts in Capital Markets -- by Ravi Bansal,...
We use the forward-looking information from the US and global capital markets to estimate the economic impact of global warming, specifically, long-run temperature shifts. We find that global warming...
View ArticleUnintended Consequences of Rewards for Student Attendance: Results from a...
In an experiment in non-formal schools in Indian slums, a reward scheme for attending a target number of school days increased average attendance when the scheme was in place, but had heterogeneous...
View ArticleRisk Preferences and The Macro Announcement Premium -- by Hengjie Ai, Ravi...
The paper develops a theory for equity premium around macroeconomic announcements. Stock returns realized around pre-scheduled macroeconomic announcements, such as the employment report and the FOMC...
View ArticleHow Do Voters Matter? Evidence from US Congressional Redistricting -- by...
How does the partisan composition of an electorate impact the policies adopted by an elected representative? We take advantage of variation in the partisan composition of Congressional districts...
View ArticleWhat Would it Take to Reduce US Greenhouse Gas Emissions 80% by 2050? -- by...
I investigate the cost and feasibility of reducing US GHG emissions by 80% from 2005 levels by 2050. The US has stated in its Paris COP 21 submission that this is its aspiration, and Hillary Clinton...
View ArticleCollective Intertemporal Choice: the Possibility of Time Consistency -- by...
Recent work on collective intertemporal choice suggests that non-dictatorial social preferences are generically time inconsistent. We argue that this claim conflates time consistency with two distinct...
View ArticleImmunization and Moral Hazard: The HPV Vaccine and Uptake of Cancer Screening...
Immunization can cause moral hazard by reducing the cost of risky behaviors. In this study, we examine the effect of HPV vaccination for cervical cancer on participation in the Pap test, which is a...
View ArticleCan Natural Gas Save Lives? Evidence from the Deployment of a Fuel Delivery...
There has been a widespread displacement of coal by natural gas as space heating and cooking technology in Turkey in the last two decades, triggered by the deployment of natural gas networks. In this...
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