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26 January 2015

Household Wealth Trends in the United States over the Great Recession

Asset prices plunged between 2007 and 2010, then rebounded from 2010 to 2013. But median wealth plummeted 44 percent from 2007 to 2010 and did not rebound, according to an analysis by Edward N. Wolff. The racial and ethnic disparity in wealth widened considerably. Households under age 45 saw both relative and absolute wealth declined sharply.

23 January 2015

Inferring Carbon Abatement Costs in Electricity Markets

Joseph A. Cullen and Erin T. Mansur show that carbon prices and cheap natural gas reduce the historic cost advantage of coal-fired power plants in a nearly identical manner, and that carbon prices are much more effective at reducing emissions when natural gas prices are low. Modest carbon prices have negligible effects on emissions when gas prices are at levels seen prior to the shale revolution.

22 January 2015

Education, HIV, and Early Fertility: Experimental Evidence from Kenya

A seven-year randomized evaluation suggests Kenyan education subsidies reduce adolescent girls' dropout, pregnancy, and marriage rates but not their rate of sexually transmitted infection (STI), according to Esther Duflo, Pascaline Dupas, and Michael Kremer. The government's HIV curriculum does not reduce pregnancy or STI. The curriculum and subsidies combined reduce STI more, but cut dropout and pregnancy less, than education subsidies alone.
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