What Causes Labor Turnover To Vary? -- by Edward P. Lazear, Kristin McCue
Most turnover reflects churn, where hires replace departures. Churn varies substantially by employer, industry and worker characteristics. In the LEHD (QWI) data, permanent employer differences account...
View ArticleIs Automation Labor-Displacing? Productivity Growth, Employment, and the...
Many technological innovations replace workers with machines, but this capital-labor substitution need not reduce aggregate labor demand because it simultaneously induces four countervailing responses:...
View ArticleDistributing the Green (Cards): Permanent Residency and the Income Tax after...
We explore how permanent residency affects the income tax using variation from the Immigration Reform and Control Act of 1986 (IRCA), which authorized the largest U.S. amnesty to date. We exploit the...
View ArticleAre Health Care Services Shoppable? Evidence from the Consumption of...
We study how individuals with private health insurance choose providers for lower-limb MRI scans. Lower-limb MRI scans are a fairly undifferentiated service and providers' prices routinely vary by a...
View ArticleHeat, Humidity, and Infant Mortality in the Developing World -- by Michael...
We study how extreme weather exposure impacts infant survival in the developing world. Our analysis overcomes the absence of vital registration systems in many poor countries by extracting birth...
View ArticleThe Run on Repo and the Fed's Response -- by Gary Gorton, Toomas Laarits,...
The Financial Crisis began and accelerated in short-term money markets. One such market is the multi-trillion dollar sale-and-repurchase ("repo") market, where prices show strong reactions during the...
View ArticleLocation as an Asset -- by Adrien Bilal, Esteban Rossi-Hansberg
The location of individuals determines their job opportunities, living amenities, and housing costs. We argue that it is useful to conceptualize the location choice of individuals as a decision to...
View ArticleHealth and Economic Activity Over the Lifecycle: Literature Review -- by...
We systematically review the literature linking health to economic activity, particularly education and labor market outcomes, over the lifecycle. In the first part, we review studies that link...
View ArticleThe Role of Industry, Occupation, and Location-Specific Knowledge in the...
How do regions acquire the knowledge they need to diversify their economic activities? How does the migration of workers among firms and industries contribute to the diffusion of that knowledge? Here...
View ArticlePhysician-Industry Interactions: Persuasion and Welfare -- by Matthew...
In markets where consumers seek expert advice regarding purchases, firms seek to influence experts, raising concerns about biased advice. Assessing firm-expert interactions requires identifying their...
View ArticleParental Support, Savings and Student Loan Repayment -- by Lance Lochner,...
Using unique survey and administrative data from the Canada Student Loans Program, we document that parental support and personal savings substantially lower student loan repayment problems. We develop...
View ArticlePreferred Pharmacy Networks and Drug Costs -- by Amanda Starc, Ashley Swanson
Selective contracting is an increasingly popular tool for reducing health care costs, but these savings must be weighed against consumer surplus losses from restricted access. In both public and...
View ArticleWilderness Conservation and the Reach of the State: Evidence from National...
Preserving wilderness ecosystems in developing countries is challenging because their remote location places them far from state control. We investigate this using 30x30 meter satellite data to...
View ArticleMeaningful Information for Domestic Economies in the Light of Globalization -...
Globalisation presents significant statistical challenges, particularly for small and open economies in terms of measuring macroeconomic level and growth indicators and communicating the results in a...
View ArticleFactors that Fit the Time Series and Cross-Section of Stock Returns -- by...
We propose a new method for estimating latent asset pricing factors that fit the time-series and cross-section of expected returns. Our estimator generalizes Principal Component Analysis (PCA) by...
View ArticleDoes the NIH Fund Edge Science? -- by Mikko Packalen, Jay Bhattacharya
The National Institutes of Health (NIH) plays a critical role in funding scientific endeavors in biomedicine that would be difficult to finance via private sources. One important mandate of the NIH is...
View ArticleFriedman and Phelps on the Phillips Curve Viewed from a Half Century's...
In the late 1960s the stable negatively sloped Phillips Curve (PC) was overturned by the Friedman-Phelps natural rate model. Their PC was vertical in the long run at the natural unemployment rate, and...
View ArticleA Walrasian Theory of Sovereign Debt Auctions with Asymmetric Information --...
How does investors' information about a country's fundamentals, and the fact that this information may be asymmetrically held, affect a country's financing cost? Motivated by this question, and by the...
View ArticleEffects of Prenatal Care on Birth Outcomes: Reconciling a Messy Literature --...
Research on the effects of prenatal care on birth outcomes has produced a patchwork of findings that are not easily summarized. Studies have used varying definitions of prenatal care, leading to...
View ArticleThe Persistent Effect of Initial Success: Evidence from Venture Capital -- by...
We use investment-level data to study performance persistence in venture capital (VC). Consistent with prior studies, we find that each additional IPO among a VC firm's first ten investments predicts...
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