American Economic Review
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R&D Investment, Exporting, and Productivity Dynamics
American Economic Review - Tập 101 Số 4 - Trang 1312-1344 - 2011
This paper estimates a dynamic structural model of a producer's decision to
invest in R&D and export, allowing both choices to endogenously affect the
future path of productivity. Using plant-level data for the Taiwanese
electronics industry, both activities are found to have a positive effect on the
plant's future productivity. This in turn drives more plants to self-select into
both activities, ...
Peer Effects in Program Participation
American Economic Review - Tập 104 Số 7 - Trang 2049-2074 - 2014
We estimate peer effects in paid paternity leave in Norway using a regression
discontinuity design. Coworkers and brothers are 11 and 15 percentage points,
respectively, more likely to take paternity leave if their peer was exogenously
induced to take up leave. The most likely mechanism is information transmission,
including increased knowledge of how an employer will react. The estimated peer
eff...
Do People Mean What They Say? Implications for Subjective Survey Data
American Economic Review - Tập 91 Số 2 - Trang 67-72 - 2001
Does Britain or the United States Have the Right Gasoline Tax?
American Economic Review - Tập 95 Số 4 - Trang 1276-1289 - 2005
Commitment and Conflict in Bilateral Bargaining
American Economic Review - Tập 98 Số 4 - Trang 1629-1635 - 2008
Building on previous work by Schelling and Crawford, we study a model of
bilateral bargaining in which negotiators can make binding commitments at a low
positive cost c. Most of our results concern outcomes that survive iterated
strict dominance. If commitment attempts never fail, there are three such
outcomes. In two of them, all the surplus goes to one player. In the third,
there is a high proba...
The Impact of the Massachusetts Health Care Reform on Health Care Use Among Children
American Economic Review - Tập 102 Số 3 - Trang 502-507 - 2012
In 2006 Massachusetts enacted a major health care reform aimed at achieving
near-universal coverage in the state. While other studies have found that this
reform substantially affected the use of health services in general, the impact
of the reform on children is largely unexplored. Children are of special
interest to policymakers because it is widely believed that better health in
early childhood...
Estimation and Inference of Impulse Responses by Local Projections
American Economic Review - Tập 95 Số 1 - Trang 161-182 - 2005
This paper introduces methods to compute impulse responses without specification
and estimation of the underlying multivariate dynamic system. The central idea
consists in estimating local projections at each period of interest rather than
extrapolating into increasingly distant horizons from a given model, as it is
done with vector autoregressions (VAR). The advantages of local projections are
nu...
Liquidity, Efficiency, and Bank Bailouts
American Economic Review - Tập 94 Số 3 - Trang 455-483 - 2004
Governments can efficiently provide liquidity, as when the banking system is
bailed out. We study a model in which not all assets can be used to purchase all
other assets at every date. Agents sometimes want to sell projects. The market
price of the projects sold depends on the supply of liquidity, which is
determined in general equilibrium. While private liquidity provision is socially
beneficial...
Bond Risk Premia
American Economic Review - Tập 95 Số 1 - Trang 138-160 - 2005
We study time variation in expected excess bond returns. We run regressions of
one-year excess returns on initial forward rates. We find that a single factor,
a single tent-shaped linear combination of forward rates, predicts excess
returns on one-to five-year maturity bonds with R2 up to 0.44. The
return-forecasting factor is countercyclical and forecasts stock returns. An
important component of ...
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