The Rise in Life Expectancy, Health Trends among the Elderly, and the Demand...
The objective is to review the evidence on (a) ageing and health and (b) the demand for health- and social services among the elderly. Issues are: does health status of the elderly improve over time,...
View ArticleCash Flow Duration and the Term Structure of Equity Returns -- by Michael Weber
The term structure of equity returns is downward-sloping: stocks with high cash flow duration earn 1.10% per month lower returns than short-duration stocks in the cross section. I create a measure of...
View ArticleMarketplace Plan Payment Options for Dealing with High-Cost Enrollees -- by...
Two of the three elements of the ACA's "premium stabilization program," reinsurance and risk corridors, are set to expire in 2017, leaving risk adjustment alone to protect plans against risk of...
View ArticleThe Marginal Propensity to Consume Over the Business Cycle -- by Tal Gross,...
This paper estimates how the marginal propensity to consume (MPC) varies over the business cycle by exploiting exogenous variation in credit card borrowing limits. Ten years after an individual...
View ArticleFamily Descent as a Signal of Managerial Quality: Evidence from Mutual Funds...
We study the relation between mutual fund managers' family backgrounds and their professional performance. Using hand-collected data from individual Census records on the wealth and income of managers'...
View ArticleAssessing Point Forecast Accuracy by Stochastic Error Distance -- by Francis...
We propose point forecast accuracy measures based directly on distance of the forecast-error c.d.f. from the unit step function at 0 ("stochastic error distance," or SED). We provide a precise...
View ArticleDo Hospital-Owned Skilled Nursing Facilities Provide Better Post-Acute Care...
As hospitals are increasingly held accountable for patients' post-discharge outcomes under new payment models, hospitals may choose to acquire skilled nursing facilities (SNFs) to better manage these...
View ArticleThe Opportunity Costs of Entrepreneurs in International Trade -- by Timothy...
We show that a trade model with an exogenous set of heterogeneous firms with fixed operating costs has the same aggregate outcomes as a span-of-control model. Fixed costs in the heterogeneous-firm...
View ArticleLife-Cycle Consumption Patterns at Older Ages in the US and the UK: Can...
In this paper we document significantly steeper declines in nondurable expenditures in the UK compared to the US, in spite of income paths being similar. We explore several possible causes, including...
View ArticleAugmenting the Human Capital Earnings Equation with Measures of Where People...
We augment standard ln earnings equations with variables reflecting unmeasured attributes of workers and measured and unmeasured attributes of their employer. Using panel employee-establishment data...
View ArticleThe Effects of School Desegregation on Mixed-Race Births -- by Nora Gordon,...
We find a strong positive correlation between black exposure to whites in their school district and the prevalence of later mixed-race (black-white) births, consistent with the literature on...
View ArticleNigerian Stock Exchange And Bloomberg Set To Hold 2nd CEO Roundtable - With...
The Nigerian Stock Exchange (NSE) in collaboration with Bloomberg is set to host the 2nd NSE Bloomberg CEO Roundtable Event on Wednesday, 31st August 2016 at the Stock Exchange House, Marina,...
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 ArticleIsrael and the 1990-2015 Global Developments: Riding with the Global Flows...
The global economy has been buffeted by several unprecedented economic events during the past 35 years. We survey the impact of these events on Israel's development, institutions, and economic...
View ArticlePredicting Experimental Results: Who Knows What? -- by Stefano DellaVigna,...
Academic experts frequently recommend policies and treatments. But how well do they anticipate the impact of different treatments? And how do their predictions compare to the predictions of...
View ArticleExclusion Bias in the Estimation of Peer Effects -- by Bet Caeyers, Marcel...
We formalize a noted [Guryan et al., 2009] but unexplored source of bias in peer effect estimation, arising because people cannot be their own peer. We derive, for linear-in-means models with...
View ArticleThe Effects of Unemployment Insurance Benefits: New Evidence and...
The Great Recession has renewed interest in Unemployment Insurance (UI) programs around the world. At the same time, there have been important advances in both theory and measurement of UI. In this...
View ArticleThe Effect of Unconventional Fiscal Policy on Consumption Expenditure -- by...
Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation expectations and accelerate consumption expenditure. It is budget neutral and time...
View ArticleHealthy-Time Measures of Health Outcomes and Healthcare Quality -- by...
The purposes of this paper are to describe some conceptual and empirical foundations of "healthy-time" measures of health outcomes or healthcare quality, and to explore how to expand the empirical...
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