Maria Lucia Yanguas
Department of Economics
Institutional Affiliation: UCLA
NBER Working Papers and Publications
|May 2017||The Effect of Natural Disasters on Economic Activity in US Counties: A Century of Data|
with Leah Platt Boustan, Matthew E. Kahn, Paul W. Rhode: w23410
More than 100 natural disasters strike the United States every year, causing extensive property destruction and loss of life. We construct an 80 year panel data set that includes the universe of natural disasters in the United States from 1930 to 2010 and study how these shocks affected migration rates, home prices, and poverty rates at the county level. Severe disasters increased out-migration rates by 1.5 percentage points and lowered housing prices/rents by 2.5–5.0 percent, but milder disasters had little effect on economic outcomes.
|February 2014||The Political Coase Theorem: Experimental Evidence|
with Sebastian Galiani, Gustavo Torrens: w19943
The Political Coase Theorem (PCT) states that, in the absence of transaction costs, agents should agree to implement efficient policies regardless of the distribution of bargaining power among them. This paper uses a laboratory experiment to explore how commitment problems undermine the validity of the PCT. Overall, the results support theoretical predictions. In particular, commitment issues matter, and the existence of more commitment possibilities leads to better social outcomes. Moreover, we find that the link is valid when commitment possibilities are asymmetrically distributed between players and even when a redistribution of political power is required to take advantage of those possibilities. However, we also find that at low levels of commitment there is more cooperation than stri...
Published: Galiani, Sebastian & Torrens, Gustavo & Yanguas, Maria Lucia, 2014. "The Political Coase Theorem: Experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 103(C), pages 17-38. citation courtesy of