American Economic Review
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R&D Investment, Exporting, and Productivity Dynamics 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... ...
American Economic Review - Tập 101 Số 4 - Trang 1312-1344 - 2011
Peer Effects in Program Participation 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... ...
American Economic Review - Tập 104 Số 7 - Trang 2049-2074 - 2014
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 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 h... ...
American Economic Review - Tập 98 Số 4 - Trang 1629-1635 - 2008
The Impact of the Massachusetts Health Care Reform on Health Care Use Among Children 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 ... ...
American Economic Review - Tập 102 Số 3 - Trang 502-507 - 2012
Estimation and Inference of Impulse Responses by Local Projections 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 projectio... ...
American Economic Review - Tập 95 Số 1 - Trang 161-182 - 2005
Liquidity, Efficiency, and Bank Bailouts 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 b... ...
American Economic Review - Tập 94 Số 3 - Trang 455-483 - 2004
Bond Risk Premia 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 retur... ...
American Economic Review - Tập 95 Số 1 - Trang 138-160 - 2005
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