Centro de Investigación Económica
Ave. Santa Teresa # 930
Mexico, D. F. 10700, Mexico
NBER Working Papers and Publications
|March 2017||How Debit Cards Enable the Poor to Save More|
with Pierre Bachas, Paul Gertler, Sean Higgins: w23252
We study a natural experiment in which debit cards are rolled out to beneficiaries of a cash transfer program, who already received transfers directly deposited into a savings account. Using administrative account data and household surveys, we find that before receiving debit cards, few beneficiaries used the accounts to make more than one withdrawal per period, or to save. With cards, beneficiaries increase their number of withdrawals and check their balances frequently; the number of checks decreases over time as their reported trust in the bank and savings increase. Their overall savings rate increases by 3–4 percent of household income.
|April 2014||On the Distributive Costs of Drug-Related Homicides|
with Nicolás Ajzenman, Sebastian Galiani: w20067
This is the first paper to study the economic effects of drug-trafficking organization violence. We exploit the manyfold increase in homicides in 2008-2011 in Mexico resulting from its war on organized drug traffickers to estimate the effect of drug-related homicides on house prices. We use an unusually rich dataset that provides national coverage on house prices and homicides and exploit within-municipality variations. We find that the impact of violence on housing prices is borne entirely by the poor sectors of the population. An increase in homicides equivalent to one standard deviation leads to a 3% decrease in the price of low-income housing. In spite of this large burden on the poor, the willingness to pay in order to reverse the increase in drug-related crime is not high. We estimat...
Published: Nicolas Ajzenman & Sebastian Galiani & Enrique Seira, 2015. "On the Distributive Costs of Drug-Related Homicides," The Journal of Law and Economics, vol 58(4), pages 779-803.
|December 2008||Comparing Open and Sealed Bid Auctions: Evidence from Timber Auctions|
with Susan Athey, Jonathan Levin: w14590
We study entry and bidding patterns in sealed bid and open auctions with heterogeneous bidders. Using data from U.S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more small bidders, shift the allocation towards these bidders, and can also generate higher revenue. We show that a private value auction model with endogenous participation can account for these qualitative effects of auction format. We estimate the model's parameters and show that it can explain the quantitative effects as well. Finally, we use the model to provide an assessment of bidder competitiveness, which has important consequences for auction choice.
Published: Susan Athey & Jonathan Levin & Enrique Seira, 2011. "Comparing open and Sealed Bid Auctions: Evidence from Timber Auctions," The Quarterly Journal of Economics, Oxford University Press, vol. 126(1), pages 207-257. citation courtesy of