The Short-Run Effects of GDPR on Technology Venture Investment -- by Jian...
The General Data Protection Regulation (GDPR) came into effect in the European Union in May 2018. We study its short-run impact on investment in new and emerging technology firms. Our findings indicate...
View ArticleGlobalization, Gender, and the Family -- by Wolfgang Keller, Hale Utar
This paper shows that globalization has far-reaching implications for the economy's fertility rate and family structure because they influence work-life balance. Employing population register data on...
View ArticleUsing Empirical Marginal Cost to Measure Market Power in the US Economy -- by...
Market power arises in the case where a seller is aware that raising output will depress price. In the profit-maximizing equilibrium with market power, price exceeds marginal cost. The Lerner...
View ArticleThe Impact of Medicaid Expansion on Voter Participation: Evidence from the...
In 2008, a group of uninsured low-income adults in Oregon was selected by lottery for the chance to apply for Medicaid. Using this randomized design and state administrative data on voter behavior, we...
View ArticleSocial Security Programs and the Elderly Employment in Japan -- by Takashi...
We examine how the change in the trend of the elderly's employment rates has been associated with changes in incentives of social security and its related programs in Japan since the 1980s. We compute...
View ArticleCollateral Damage: The Impact of Foreclosures on New Home Mortgage Lending in...
Foreclosures led to severe disruptions in home mortgage lending during the recent Great Recession and the Great Depression of the 1930s. It is difficult to measure these impacts in the modern market...
View ArticleWho Profits from Patents? Rent-Sharing at Innovative Firms -- by Patrick...
This paper analyzes how patent-induced shocks to labor productivity propagate into worker compensation using a new linkage of US patent applications to US business and worker tax records. We infer the...
View ArticleFactor Incomes in Global Value Chains: The Role of Intangibles -- by Wen...
Recent studies document a decline in the share of labour and a simultaneous increase in the share of residual ('factorless') income in national GDP. We argue the need for study of factor incomes in...
View ArticleMinimum Wages and the Distribution of Family Incomes -- by Arindrajit Dube
There is robust evidence that higher minimum wages increase family incomes at the bottom of the distribution. The long run (3 or more years) minimum wage elasticity of the non-elderly poverty rate with...
View ArticleA Monetary Model of Bilateral Over-the-Counter Markets -- by Ricardo Lagos,...
We develop a model of monetary exchange in bilateral over-the-counter markets to study the effects of monetary policy on asset prices and financial liquidity. The theory predicts asset prices carry a...
View ArticleHeterogeneous Environmental and Grid Benefits from Rooftop Solar and the...
Federal and state policies in the U.S. subsidize electricity generation from 1.4 million rooftop solar arrays because of pollution avoidance benefits and grid congestion relief. Yet because these...
View ArticleSaving Regret -- by Axel H. Boersch-Supan, Tabea Bucher-Koenen, Michael D....
We define saving regret as the wish in hindsight to have saved more earlier in life. We measured saving regret and possible determinants in a survey of a probability sample of those aged 60-79. We...
View ArticleLong Time Out: Unemployment and Joblessness in Canada and the United States...
We compare patterns of unemployment and joblessness between Canada and the U.S. during the Great Recession. Similar to previous findings for the U.S. in Kroft et al. [2016], we document a rise in...
View ArticleBankable Prices -- by Garth Heutel
Allowing emissions permits to be banked and borrowed over time can yield efficiency gains. I develop a model to demonstrate that banking and borrowing can also be allowed for a price policy. I compare...
View ArticlePolitical Discretion and Antitrust Policy: Evidence from the Assassination of...
We study the importance of discretion in antitrust enforcement by analyzing the response of asset prices to the sudden accession of Theodore Roosevelt to the presidency. During McKinley's term in...
View ArticleSemiparametrically Efficient Estimation of the Average Linear Regression...
Let Y be an outcome of interest, X a vector of treatment measures, and W a vector of pre-treatment control variables. Here X may include (combinations of) continuous, discrete, and/or non-mutually...
View ArticleAttributing Medical Spending to Conditions: A Comparison of Methods -- by...
Partitioning medical spending into conditions is essential to understanding the cost burden of medical care. Two broad strategies have been used to measure disease-specific spending. The first...
View ArticleMarket Access, Trade Costs, and Technology Adoption: Evidence from Northern...
In this paper, we quantify market access in rural Tanzania, and the extent to which it constrains agricultural productivity. We collect granular data on farmer input and sales decisions, input and...
View ArticleThe Long-Run Impacts of Same-Race Teachers -- by Seth Gershenson, Cassandra...
We examine the impact of having a same-race teacher on students' long-run educational attainment. Leveraging random student-teacher pairings in the Tennessee STAR class-size experiment, we find that...
View ArticleMarket Access, Trade Costs, and Technology Adoption: Evidence from Northern...
In this paper, we quantify market access in rural Tanzania, and the extent to which it constrains agricultural productivity. We collect granular data on farmer input and sales decisions, input and...
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