7 February 2014

High School Background and College Performance

Sandra Black, Jane Arnold Lincove, Jenna Cullinane, and Rachel Veron find persistent positive effects of high school quality on student performance at the University of Texas. These effects are most pronounced for women and low-income students.

6 February 2014

Malpractice Law and Health Care Outcomes

Michael Frakes and Anupam Jena examine the relationship between state damage caps that limit that amount that a plaintiff can recover in a medical malpractice suit, the frequency of medical errors, and other measures of health care quality. They find at most a modest effect for the liability system in inducing higher levels of quality.

5 February 2014

East Asian Lessons for European Growth

Anusha Chari and Peter Blair Henry compare fiscal policy responses to the Asian Crisis of 1997-98 and to the financial crisis in Europe in 2008-09. They conclude that these policy differences, in particular the abrupt switch to austerity in Europe, help to explain the post-crisis paths of output and employment in the two regions.

4 February 2014

Estimating the Effects of “Reputational” Advertising

Lint Barrage, Eric Chyn, and Justine Hastings find that in markets where British Petroleum had disseminated its “Beyond Petroleum” environmental stewardship advertising campaign before the Deepwater Horizon oil spill, the post-spill decline in both its gasoline sales and its retail margins was smaller than in markets that were not part of this campaign.

3 February 2014

Receiving a Tax Refund Increases College Enrollment

Dayanand Manoli and Nicholas Turner study households that include high school seniors and compare those that did, and did not, receive income tax refunds. They find that a $1000 tax refund raises the graduating senior’s college enrollment probability by between two and three percentage points.

31 January 2014

How do Marriage Patterns Affect Household Income Inequality?

Jeremy Greenwood, Nezih Guner, Georgi Kocharkov, and Cezar Santos find that household income inequality would have been substantially lower in 2005 – a Gini coefficient of 0.34 rather than 0.43 – if the matching between husbands and wives had been random, rather than the actual matching.

30 January 2014

Recovery from Financial Crises

Carmen Reinhart and Kenneth Rogoff analyze nearly 100 systemic banking crises, and find that 6.5 years is the median length of time that is needed after the crisis for real per capita GDP to return to its pre-crisis level. In 45 percent of the crises, there was a double-dip recession.

29 January 2014

Do Directors Matter?

Kathy Fogel, Liping Ma, and Randall Morck discover that when a "powerful" independent director of a corporation -- a director with many external ties and substantial board service experience -- dies unexpectedly, the company's stock price falls.

28 January 2014

Regulatory Jurisdiction Shopping and MRIs

Jill Horwitz and Daniel Polsky investigate how state-level certificate-of-need regulation for the opening of magnetic resonance imaging (MRI) laboratories has affected the location of these facilities. Along state borders, they find fewer MRI providers in states with strict regulations that are designed to control the number of facilities, but they find more facilities across the state line, suggesting that potential MRI providers partially circumvent the regulations by operating in adjacent states.

27 January 2014

Does Investing in Local Firms Crowd Out Investment Homes?

Hyun-Soo Choi, Harrison Hong, Jeffrey Kubik, and Jeffrey Thompson find that households in cities with few publicly traded firms headquartered there are more likely to own an investment home. The rent-to-price ratio for rental properties is also lower in cities with fewer local firms, consistent with greater supply.
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