18 September 2018

The Impact of Caloric Information on Consumer Behavior

In a randomized controlled experiment in two full-service restaurants, customers given menus with calorie counts ordered 3 percent fewer calories than customers using menus without the counts, John Cawley, Alex Susskind, and Barton Willage report. Exposure to the information increased consumers’ support for requiring calorie labels by 9.6 percent.

17 September 2018

The Rich Get Richer in India's Stock Market

Return heterogeneity increases equity wealth inequality among Indian investor, according to a study by John Y. Campbell, Tarun Ramadorai, and Benjamin Ranish. This occurs both because there are many undiversified accounts, some of which experience outsize and some of which experience poor returns, and because on average large accounts are better diversified.

14 September 2018

The Effects of Disenrollment from Medicaid

From July through September 2005, the Tennessee Medicaid program disenrolled approximately 170,000 adults following a change in eligibility rules. Hospitalization rates, doctor visits, and dentist visits declined, use of free or public clinics increased, and there was no evidence of an increase in employment, a study by Thomas DeLeire finds.

13 September 2018

Persistent Effects of Initial Venture Capital Success

Venture capital firms do not exhibit persistent ability to identify the right places and times to invest, but early investment success leads to follow-on investment in later funding rounds and in larger syndicates,Ramana Nanda, Sampsa Samila, and Olav Sorenson find. This finding is consistent with initial success improving access to deal flow.

12 September 2018

Risks and Returns of Cryptocurrencies

Cryptocurrency returns can be predicted by factors which are specific to cryptocurrency markets, according to Yukun Liu and Aleh Tsyvinski. They determine that there is a strong time-series momentum effect and that proxies for investor attention strongly forecast cryptocurrency returns.

11 September 2018

Incarceration Spillovers in Criminal and Family Networks

In a study using Norwegian data, Manudeep Bhuller, Gordon B. Dahl, Katrine V. Løken, and Magne Mogstad find that when a defendant is sent to prison, the probability that his criminal network members will be charged with a crime over the ensuing four years declines 51 percentage points, The probability that his younger brothers will be charged declines 32 percentage points.

10 September 2018

Does the NIH Fund Edge Science?

The National Institutes of Health (NIH) tends to fund more rather than less novel projects in basic science, Mikko Packalen and Jay Bhattacharya find, but funding for clinical research tends to favor projects that build on well-established clinical knowledge rather than those that are related to novel clinical ideas.

7 September 2018

Heat, Humidity, and Infant Mortality

The impacts of hot days on infant mortality in the developing world are an order of magnitude larger than corresponding estimates from rich country studies, with humidity playing an important role, Michael Geruso and Dean Spears find.

6 September 2018

Turnover in the Labor Market

Workforce churn, in which new hires replace departures, generally allocates workers to higher productivity uses. Employers with younger employees experience more churn, Edward P. Lazear and Kristin McCue show, but there are also persistent unexplained differences in churn across employers.

5 September 2018

Wilderness Conservation in the Amazon

Robin Burgess, Francisco J.M. Costa, and Benjamin A. Olken show that after Brazil introduced policies to reduce illegal deforestation, the rate of deforestation, which had previously been higher than that in neighboring countries, declined to a comparable level.
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