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Gendered Laws and Women in the Workforce 性别法律与劳动力中的妇女
IF 8.5 1区 经济学 Q1 ECONOMICS
American Economic Review-Insights
Pub Date : 2020-05-07 DOI: 10.1257/AERI.20190542
Marie Hyland, Simeon Djankov, P. Goldberg
This paper offers for the first time a global picture of gender discrimination by the law as it affects women's economic opportunity and charts the evolution of legal inequalities over five decades. Using the World Bank's newly constructed Women, Business and the Law database, we document large and persistent gender inequalities, especially with regard to pay and treatment of parenthood. We find positive correlations between more equal laws pertaining to women in the workforce and more equal labor market outcomes, such as higher female labor force participation and a smaller wage gap between men and women. (JEL D63, J16, J31, J71, J78, K31, K38)
本文首次提供了法律性别歧视的全球图景，因为它影响了妇女的经济机会，并描绘了50年来法律不平等的演变。我们利用世界银行新建立的妇女、商业和法律数据库，记录了严重和持续存在的性别不平等现象，特别是在薪酬和为人父母待遇方面。我们发现，与女性劳动力相关的更平等的法律与更平等的劳动力市场结果之间存在正相关关系，例如更高的女性劳动力参与率和更小的男女工资差距。(jl d63, j16, j31, j71, j78, k31, k38)
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引用次数: 59
Do Immigrants Assimilate More Slowly Today than in the Past? 与过去相比，今天的移民同化速度是否更慢？
IF 8.5 1区 经济学 Q1 ECONOMICS
American Economic Review-Insights
Pub Date : 2020-03-01 DOI: 10.1257/aeri.20190079
Ran Abramitzky, Leah Boustan, Katherine Eriksson

Using millions of historical census records and modern birth certificates, we document that immigrants assimilated into US society at similar rates in the past and present. We measure cultural assimilation as immigrants giving their children less foreign names after spending more time in the United States, and show that immigrants erase about one-half of the naming gap with natives after 20 years both historically and today. Immigrants from poorer countries choose more foreign names upon first arrival in both periods but are among the fastest to shift toward native-sounding names. We find substantial cultural assimilation for immigrants of all education levels.

利用数百万历史人口普查记录和现代出生证明，我们记录了移民在过去和现在以相似的速度融入美国社会。我们用移民在美国居住时间越长，给孩子取的外国名字越少来衡量文化同化程度，结果表明，无论是在历史上还是在今天，移民在 20 年后与本地人在取名方面的差距都缩小了约一半。在这两个时期，来自较贫穷国家的移民在初来乍到时选择了更多的外国名字，但他们是最快转向本地发音名字的群体之一。我们发现，各种教育水平的移民都有大量的文化同化现象。
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引用次数: 0
The Relation between Behavior under Risk and over Time 风险下的行为与时间的关系
IF 8.5 1区 经济学 Q1 ECONOMICS
American Economic Review-Insights
Pub Date : 2020-03-01 DOI: 10.1257/AERI.20190051
Anujit Chakraborty, Yoram Halevy, Kota Saito
The paper establishes a tight relation between nonstandard behaviors in the domains of risk and time, by considering a decision-maker with non-expected utility preferences who believes that only present consumption is certain while any future consumption is uncertain. We provide the first complete characterizations of the two-way relations between the certainty effect and present bias, and between the common ratio effect and temporal reversals. (JEL D11, D15, D81, D91)
本文通过考虑具有非预期效用偏好的决策者，建立了风险和时间领域的非标准行为之间的紧密关系，该决策者认为只有当前的消费是确定的，而任何未来的消费都是不确定的。我们首次完整地刻画了确定性效应和当前偏差之间以及共同比率效应和时间反转之间的双向关系。（JEL D11、D15、D81、D91）
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引用次数: 23
An Event Long-Short Index: Theory and Applications 事件多空指数:理论与应用
IF 8.5 1区 经济学 Q1 ECONOMICS
American Economic Review-Insights
Pub Date : 2019-09-01 DOI: 10.1257/aeri.20180399
R. Fisman, Eric Zitzewitz
We propose a stock market-based measure to capture initial beliefs about an event’s effect on firm profits, which may be used to measure whether initial expectations are subsequently realized. Our “Event Long-Short Index” is the difference in market-capitalization-weighted returns of firms that outperform versus underperform the market on the event date. We use post-event index returns to measure whether initial beliefs are reinforced or attenuated. We apply our approach to the 2016 US presidential election and Brexit referendum to illustrate the index and its interpretation and to validate it, showing that it moves as expected following subsequent political and business news. (JEL D22, D72, D83, G14, L25)
我们提出了一种基于股票市场的指标来捕捉关于事件对公司利润影响的初始信念，该指标可用于衡量初始预期是否随后实现。我们的“事件长短指数”是指在事件日期表现优于市场和表现不佳的公司的市值加权回报率的差异。我们使用事件后指数回报来衡量最初的信念是得到了强化还是减弱。我们将我们的方法应用于2016年美国总统大选和英国脱欧公投，以说明该指数及其解释，并对其进行验证，表明它在随后的政治和商业新闻之后如预期那样变化。（JEL D22，D72，D83，G14，L25）
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引用次数: 14
Aging, Output Per Capita, and Secular Stagnation 老龄化、人均产出和长期停滞
IF 8.5 1区 经济学 Q1 ECONOMICS
American Economic Review-Insights
Pub Date : 2019-09-01 DOI: 10.1257/AERI.20180383
Gauti B. Eggertsson, M. Lancastre, L. Summers
This paper re-examines the relationship between population aging and economic growth. We confirm previous research such as Cutler et al. (1990) and Acemoglu and Restrepo (2017) that show positive correlation between population aging and per capita output growth. Our contribution is demonstrating that this relationship breaks down when the adjustment of interest rates is inhibited by a lower bound on nominal rates, as during the Great Financial Crisis decade. Indeed, during the “secular stagnation regime” of 2008–2015 that prevailed in a number of countries, aging had a negative impact on living standards, consistent with the secular stagnation hypothesis. (JEL E23, E32, E43, G01, I31, J14)
本文重新审视了人口老龄化与经济增长的关系。我们确认了Cutler et al.(1990)和Acemoglu and Restrepo(2017)等先前的研究表明人口老龄化与人均产出增长呈正相关。我们的贡献是证明，当利率调整受到名义利率下限的抑制时，这种关系就会破裂，就像在大金融危机期间那样。事实上，在2008年至2015年在许多国家盛行的“长期停滞制度”期间，老龄化对生活水平产生了负面影响，这与长期停滞假说相一致。(jel e23, e32, e43, g01, i31, j14)
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引用次数: 12
A Bias of Screening 筛选的偏差
IF 8.5 1区 经济学 Q1 ECONOMICS
American Economic Review-Insights
Pub Date : 2019-09-01 DOI: 10.1257/aeri.20180578
David Lagziel, E. Lehrer
This paper deals with the issue of screening. It focuses on a decision maker who, based on noisy unbiased assessments, screens elements from a general set. Our analysis shows that stricter screening not only reduces the number of accepted elements, but possibly reduces their average expected value. We provide a characterization for optimal threshold strategies for screening and also derive implications to cases where such screening strategies are suboptimal. We further provide various applications of our results to credit ratings, auctions, general trade, the Peter Principle, and affirmative action. (JEL C38, D44, F10, G24, J15)
本文讨论筛选问题。它关注的是一个决策者，他基于嘈杂的无偏见评估，从一般集合中筛选元素。我们的分析表明，更严格的筛选不仅减少了可接受元素的数量，而且可能降低了它们的平均期望值。我们提供了筛选的最佳阈值策略的特征，并得出了这种筛选策略次优的情况的含义。我们进一步提供了我们的结果在信用评级、拍卖、一般贸易、彼得原则和平权行动中的各种应用。（JEL C38，D44，F10，G24，J15）
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引用次数: 4
Maimonides Rule Redux Maimonides规则Redux
IF 8.5 1区 经济学 Q1 ECONOMICS
American Economic Review-Insights
Pub Date : 2019-09-01 DOI: 10.1257/AERI.20180120
J. Angrist, Victor Lavy, Jetson Leder-Luis, Adi Shany
We use Maimonides’ rule as an instrument for class size in large Israeli samples from 2002–2011. In contrast with Angrist and Lavy (1999), newer estimates show no evidence of class size effects. The new data also reveal enrollment manipulation near Maimonides cutoffs. A modified rule that uses birthdays to impute enrollment circumvents manipulation while still generating precisely estimated zeros. In both old and new data, Maimonides’ rule is unrelated to socioeconomic characteristics conditional on a few controls. Enrollment manipulation therefore appears to be innocuous. We briefly discuss possible explanations for the disappearance of Israeli class size effects since the early 1990s. (JEL C38, H52, I21, I28)
我们使用迈蒙尼德规则作为2002-2011年以色列大样本班级规模的工具。与Angrist和Lavy(1999)相比，较新的估计没有显示班级规模效应的证据。新的数据还揭示了在迈蒙尼德截止点附近的招生操纵。修改后的规则使用生日来估算注册，避免了操作，同时仍然生成精确估计的零。在旧的和新的数据中，迈蒙尼德的规则与少数控制条件下的社会经济特征无关。因此，招生操纵似乎是无害的。我们简要讨论了自20世纪90年代初以来以色列班级规模效应消失的可能解释。(jel c38, h52, i21, i28)
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引用次数: 7
Divest, Disregard, or Double Down? Philanthropic Endowment Investments in Objectionable Firms 撤资，无视，还是加倍下注?对不良企业的慈善捐赠投资
IF 8.5 1区 经济学 Q1 ECONOMICS
American Economic Review-Insights
Pub Date : 2019-09-01 DOI: 10.1257/aeri.20180347
B. Tran
How much, if at all, should an endowment invest in a firm whose activities run counter to the charitable missions the endowment funds? I offer the first model characterizing this type of investment decision. I introduce a strategy called “mission hedging,” where—in contrast to traditional socially responsible investing—foundations may benefit from skewing investment toward the objectionable firm in order to align funding availability with need. I characterize the trade-offs driving foundation investment decisions. By leveraging the idiosyncratic firm risk typically diversified away in profit-maximizing portfolios, foundations may find that bad actors provide good opportunities to hedge mission-specific risks. (JEL G11, G14, L31, M14)
如果一家公司的活动与捐赠基金的慈善使命背道而驰，那么捐赠基金应该向这家公司投资多少?我提出了描述这类投资决策的第一个模型。我介绍了一种名为“使命对冲”的策略，与传统的社会责任投资相比，基金会可能会从向不受欢迎的公司倾斜投资中受益，从而使资金可用性与需求保持一致。我描述了推动基金会投资决策的权衡。通过利用特殊的公司风险，通常分散在利润最大化的投资组合中，基金会可能会发现，不良行为者提供了对冲特定任务风险的好机会。(凝胶g11, g14, l31, m14)
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引用次数: 9
The Violent Consequences of Trade-Induced Worker Displacement in Mexico 墨西哥贸易导致的工人流离失所的暴力后果
IF 8.5 1区 经济学 Q1 ECONOMICS
American Economic Review-Insights
Pub Date : 2019-06-01 DOI: 10.1257/AERI.20180063
Melissa Dell, B. Feigenberg, Kensuke Teshima
Mexican manufacturing job loss induced by competition with China increases cocaine trafficking and violence, particularly in municipalities with transnational criminal organizations. When it becomes more lucrative to traffic drugs because changes in local labor markets lower the opportunity cost of criminal employment, criminal organizations plausibly fight to gain control. The evidence supports a Becker-style model in which the elasticity between legitimate and criminal employment is particularly high where criminal organizations lower illicit job search costs, where the drug trade implies higher pecuniary returns to violent crime, and where unemployment disproportionately affects low-skilled men. (JEL F16, J24, J64, K42, L60, O15, R23)
由于与中国的竞争，墨西哥制造业的工作岗位减少，增加了可卡因贩运和暴力，特别是在有跨国犯罪组织的城市。由于当地劳动力市场的变化降低了犯罪就业的机会成本，当贩毒变得更加有利可图时，犯罪组织似乎会为获得控制权而斗争。证据支持贝克式的模型，在这个模型中，在犯罪组织降低非法找工作成本、毒品交易意味着暴力犯罪的更高金钱回报、失业不成比例地影响低技能男性的地方，合法就业和犯罪就业之间的弹性特别高。(jel f16, j24, j64, k42, l60, o15, r23)
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引用次数: 58
Stealth Consolidation: Evidence from an Amendment to the Hart-Scott-Rodino Act 秘密合并:来自哈特-斯科特-罗迪诺法案修正案的证据
IF 8.5 1区 经济学 Q1 ECONOMICS
American Economic Review-Insights
Pub Date : 2019-06-01 DOI: 10.1257/AERI.20180137
Thomas G. Wollmann
Prospective merger review is the most frequent application of antitrust law. It exempts transactions on the basis of size, though small deals can have large anticompetitive effects in segmented industries. I examine its impact on antitrust enforcement and merger activity in the context of an abrupt increase in the US exemption threshold. I find that among newly-exempt deals, antitrust investigations fall to almost zero while mergers between competitors rise sharply. Effectively all of the rise reflects an endogenous response of firms to reduced premerger scrutiny, consistent with large deterrent effects of antitrust enforcement. (JEL G34, G38, K21, L41)
前瞻性并购审查是反垄断法最常见的应用。它免除了基于规模的交易，尽管在细分行业，小额交易可能会产生巨大的反竞争效应。在美国突然提高豁免门槛的背景下，我研究了它对反垄断执法和并购活动的影响。我发现，在新获得豁免的交易中，反垄断调查几乎降至零，而竞争对手之间的合并则急剧上升。实际上，所有这些上涨都反映了企业对合并前审查减少的内生反应，这与反垄断执法的巨大威慑作用是一致的。(凝胶g34, g38, k21, l41)
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引用次数: 75
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