The Evolution of Health Insurer Costs in Massachusetts, 2010-12 -- by Kate...
We analyze the evolution of health insurer costs in Massachusetts between 2010-2012, a period in which the use of physician cost control incentives spread among insurers. We show that the growth of...
View ArticleThe Economic Contribution of Unauthorized Workers: An Industry Analysis -- by...
This paper provides a quantitative assessment of the economic contribution of unauthorized workers to the U.S. economy, and the potential gains from legalization. We employ a theoretical framework that...
View ArticleWorld Shocks, World Prices, and Business Cycles: An Empirical Investigation...
Most existing studies of the macroeconomic effects of global shocks assume that they are mediated by a single intratemporal relative price such as the terms of trade and possibly an intertemporal price...
View ArticleScreening in Contract Design: Evidence from the ACA Health Insurance...
By steering patients to cost-effective substitutes, the tiered design of prescription drug formularies can improve the efficiency of healthcare consumption in the presence of moral hazard. However, a...
View ArticleMonetary Policy and the Stock Market: Time-Series Evidence -- by Andreas...
We construct a slope factor from changes in federal funds futures of different horizons. Slope predicts stock returns at the weekly frequency: faster monetary policy easing positively predicts excess...
View ArticleAn Economic Analysis of U.S Airline Fuel Economy Dynamics from 1991 to 2015...
Airline transport generates a growing share of global greenhouse gas emissions but as of late 2016, this sector has not faced U.S. fuel economy or emissions regulation. At any point in time, airlines...
View ArticleTime-Inconsistent Charitable Giving -- by James Andreoni, Marta Serra-Garcia
This paper examines the interaction between moral contradictions and time in charitable giving. Applying a simple theoretical framework to two longitudinal experiments with actual charitable donations,...
View ArticleThe Optimal Distribution of Population across Cities -- by David Albouy,...
The received economic wisdom is that cities are too big and that public policy should limit their sizes. This wisdom assumes, unrealistically, that city sites are homogeneous, migration is unfettered,...
View ArticleHeterogeneity and Persistence in Returns to Wealth -- by Andreas Fagereng,...
We provide a systematic analysis of the properties of individual returns to wealth using twenty years of population data from Norway's administrative tax records. We document a number of novel results....
View ArticleDurable Coalitions and Communication: Public versus Private Negotiations --...
We present a laboratory experiment to study the effect of communication on durable coalitions - coalitions that support the same allocation from one period to the next. We study a bargaining setting...
View ArticlePuzzles in the Forex Tokyo "Fixing": Order Imbalances and Biased...
"Fixing" in the foreign exchange market is a market practice that determines the bid-ask-mid-point exchange rate at a scheduled time, 10am in Tokyo and 4pm in London. The fixing exchange rate is then...
View ArticleInternational Borrowing Cycles: A New Historical Database -- by Graciela L....
The ongoing slowdown in international capital flows has brought again to the attention the booms and bust cycles in international borrowing. Many suggest that capital flow bonanzas are excessive,...
View ArticleTechnical Aspects of Correspondence Studies -- by Joanna Lahey, Ryan Beasley
This paper discusses technical concerns and choices that arise when crafting a correspondence or audit study using external validity as a motivating framework. We will discuss resume creation,...
View ArticleGender, Marriage, and Life Expectancy -- by Margherita Borella, Mariacristina...
Wages and life expectancy, as well as labor market outcomes, savings, and consumption, differ by gender and marital status. In this paper we compare the aggregate implications of two dynamic structural...
View ArticleHousing Demand, Cost-of-Living Inequality, and the Affordability Crisis -- by...
Since 1970, housing's relative price, share of expenditure, and ``unaffordability'' have all grown. We estimate housing demand using a novel compensated framework over space and an uncompensated...
View ArticleThe Affordable Care Act as Retiree Health Insurance: Implications for...
Using data from the Health and Retirement Study, we examine the effects of the Affordable Care Act (ACA) on retirement. We first calculate retirements (and in related analyses changes in expected ages...
View ArticlePast Performance and Procurement Outcomes -- by Francesco Decarolis,...
Reputational incentives may be a powerful mechanism for improving supplier performance. We analyze their role in contract awarding, exploiting an experiment run by a firm which introduced a new vendor...
View ArticleOn a World Climate Assembly and the Social Cost of Carbon -- by Martin Weitzman
This paper postulates the conceptually useful allegory of a futuristic "World Climate Assembly" (WCA) that votes for a single worldwide price on carbon emissions via the basic democratic principle of...
View ArticleInternational Transmissions of Monetary Shocks: Between a Trilemma and a...
This paper re-examines international transmissions of monetary policy shocks from advanced economies to emerging market economies. In terms of methodologies, it combines three novel features. First, it...
View ArticleComplementarity without Superadditivity -- by Steven Berry, Philip Haile,...
The distinction between complements, substitutes, and independent goods is important in many contexts. It is well known that when consumers' conditional indirect utilities for two goods are...
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