I use narrative historical data on site selection decisions for a subset of US colleges to identify runner-up locations that were strongly considered to become the sites of new colleges. Using runner-up counties as counterfactuals in a difference-in-difference model, I find that establishing a college causes 62 percent more patents per year. Linking patents to novel college yearbook data reveals that only 12 percent of patents in a college’s county came from that college’s alumni or faculty. I find only small differences in patenting between establishing colleges and establishing other institutions as well as between colleges with different focuses on technical fields. (JEL I23, N31, N32, N71, N72, O31, O34)
{"title":"How Do Institutions of Higher Education Affect Local Invention? Evidence from the Establishment of US Colleges","authors":"Michael J. Andrews","doi":"10.1257/pol.20200320","DOIUrl":"https://doi.org/10.1257/pol.20200320","url":null,"abstract":"I use narrative historical data on site selection decisions for a subset of US colleges to identify runner-up locations that were strongly considered to become the sites of new colleges. Using runner-up counties as counterfactuals in a difference-in-difference model, I find that establishing a college causes 62 percent more patents per year. Linking patents to novel college yearbook data reveals that only 12 percent of patents in a college’s county came from that college’s alumni or faculty. I find only small differences in patenting between establishing colleges and establishing other institutions as well as between colleges with different focuses on technical fields. (JEL I23, N31, N32, N71, N72, O31, O34)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"616 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136048797","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Treatment practices vary widely across hospitals, often with little connection to patients’ medical needs. We assess impacts of these differences in delivery practices at childbirth. We find that infants quasi-randomly delivered at hospitals with higher C-section rates are born in better shape and are less likely to be readmitted, with suggestive evidence of improved survival. These benefits are driven by avoidance of prolonged labors that pose risks to infant health. In contrast, these infants are more likely to visit the emergency department for respiratory-related problems, consistent with a large observational literature linking C-section to chronic reductions in respiratory health. (JEL I11, I12, J13, J16)
{"title":"The Health Impacts of Hospital Delivery Practices","authors":"David Card, Alessandra Fenizia, David Silver","doi":"10.1257/pol.20210034","DOIUrl":"https://doi.org/10.1257/pol.20210034","url":null,"abstract":"Treatment practices vary widely across hospitals, often with little connection to patients’ medical needs. We assess impacts of these differences in delivery practices at childbirth. We find that infants quasi-randomly delivered at hospitals with higher C-section rates are born in better shape and are less likely to be readmitted, with suggestive evidence of improved survival. These benefits are driven by avoidance of prolonged labors that pose risks to infant health. In contrast, these infants are more likely to visit the emergency department for respiratory-related problems, consistent with a large observational literature linking C-section to chronic reductions in respiratory health. (JEL I11, I12, J13, J16)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"247 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135359257","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Forward markets are believed to aggregate information about future spot prices and reduce the cost of producing the commodity. We develop a measure of the extent to which forward and spot prices agree in markets with transaction costs. Using this measure, we show that day-ahead prices better reflect real-time prices at all locations in California’s electricity market after the introduction of financial trading. We then present evidence suggesting that operating costs and input fuel use fell after the introduction of financial trading on days when the nonconvexities inherent to the production and transmission of electricity are especially relevant. (JEL D23, D24, G13, L94, L98, Q48)
{"title":"Can Forward Commodity Markets Improve Spot Market Performance? Evidence from Wholesale Electricity","authors":"Akshaya Jha, Frank A. Wolak","doi":"10.1257/pol.20200234","DOIUrl":"https://doi.org/10.1257/pol.20200234","url":null,"abstract":"Forward markets are believed to aggregate information about future spot prices and reduce the cost of producing the commodity. We develop a measure of the extent to which forward and spot prices agree in markets with transaction costs. Using this measure, we show that day-ahead prices better reflect real-time prices at all locations in California’s electricity market after the introduction of financial trading. We then present evidence suggesting that operating costs and input fuel use fell after the introduction of financial trading on days when the nonconvexities inherent to the production and transmission of electricity are especially relevant. (JEL D23, D24, G13, L94, L98, Q48)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136048796","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We contribute to the literature on the effect of taxes on the locational choices of wealthy individuals by examining the geographical sensitivity of the Forbes 400 richest Americans to state estate taxes. Though we find billionaires’ effective tax rates are only about half the statutory rate, their residential choices are highly sensitive to these taxes, as 35 percent of local billionaires leave states with an estate tax. This tax-induced mobility causes a large reduction in the aggregate tax base. Nonetheless, we find that the revenue benefit of an estate tax exceeds the cost for the vast majority of states. (JEL H24, H31, H71, R23)
{"title":"Taxing Billionaires: Estate Taxes and the Geographical Location of the Ultra-Wealthy","authors":"Enrico Moretti, Daniel J. Wilson","doi":"10.1257/pol.20200685","DOIUrl":"https://doi.org/10.1257/pol.20200685","url":null,"abstract":"We contribute to the literature on the effect of taxes on the locational choices of wealthy individuals by examining the geographical sensitivity of the Forbes 400 richest Americans to state estate taxes. Though we find billionaires’ effective tax rates are only about half the statutory rate, their residential choices are highly sensitive to these taxes, as 35 percent of local billionaires leave states with an estate tax. This tax-induced mobility causes a large reduction in the aggregate tax base. Nonetheless, we find that the revenue benefit of an estate tax exceeds the cost for the vast majority of states. (JEL H24, H31, H71, R23)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135658671","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
How do rising temperatures affect long-term labor reallocation in developing economies? In this paper we examine how increases in temperature impact structural transformation and urbanization within Indian districts between 1951 and 2011. We find that rising temperatures are associated with lower shares of workers in nonagricultural sectors, with effects intensifying over a longer time frame. Supporting evidence suggests that local demand effects play an important role: declining agricultural productivity under higher temperatures reduces the demand for nonagricultural goods and services, which subsequently lowers nonagricultural labor demand. Our results illustrate that rising temperatures limit sectoral and rural-urban mobility for isolated households. (JEL J61, N35, O13, O15, O18, Q54, R23)
{"title":"Climate Change and Labor Reallocation: Evidence from Six Decades of the Indian Census","authors":"Maggie Liu, Yogita Shamdasani, Vis Taraz","doi":"10.1257/pol.20210129","DOIUrl":"https://doi.org/10.1257/pol.20210129","url":null,"abstract":"How do rising temperatures affect long-term labor reallocation in developing economies? In this paper we examine how increases in temperature impact structural transformation and urbanization within Indian districts between 1951 and 2011. We find that rising temperatures are associated with lower shares of workers in nonagricultural sectors, with effects intensifying over a longer time frame. Supporting evidence suggests that local demand effects play an important role: declining agricultural productivity under higher temperatures reduces the demand for nonagricultural goods and services, which subsequently lowers nonagricultural labor demand. Our results illustrate that rising temperatures limit sectoral and rural-urban mobility for isolated households. (JEL J61, N35, O13, O15, O18, Q54, R23)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135658672","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study identifies the causal effect of pension generosity on women’s fertility behavior. It capitalizes on Brazil’s expansion of the pension system to rural workers, whose pension wealth subsequently more than tripled. Difference-in-difference, instrumental variable, and event study methods show that the pension reform reduces the propensity of childbearing of women of fertile age by 8 percent in the short run. Completed fertility declines by 1.3 children within 20 years after the reform, reducing the contribution base of the pay-as-you-go long run. The fertility response is strongest at higher birth parities, among older women, and among mothers with sons. (JEL H55, I38, J13, J16, O15)
{"title":"Pensions and Fertility: Microeconomic Evidence","authors":"Alexander M. Danzer, Lennard Zyska","doi":"10.1257/pol.20200440","DOIUrl":"https://doi.org/10.1257/pol.20200440","url":null,"abstract":"This study identifies the causal effect of pension generosity on women’s fertility behavior. It capitalizes on Brazil’s expansion of the pension system to rural workers, whose pension wealth subsequently more than tripled. Difference-in-difference, instrumental variable, and event study methods show that the pension reform reduces the propensity of childbearing of women of fertile age by 8 percent in the short run. Completed fertility declines by 1.3 children within 20 years after the reform, reducing the contribution base of the pay-as-you-go long run. The fertility response is strongest at higher birth parities, among older women, and among mothers with sons. (JEL H55, I38, J13, J16, O15)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135703271","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Using administrative data from a large public university, we show that male students are 18.6 percent more likely than female students to receive favorable grade changes made by instructors. Surveys of students and instructors reveal that regrade requests are prevalent and that male students are more likely to ask for regrades on the intensive margin. We corroborate the gender differences in regrade requests in an incentivized controlled experiment: we find that males have a higher willingness to pay to ask for regrades. Almost a third of the gender difference is due to gender differences in beliefs and the Big Five traits. (JEL D82, D91, I23, J16)
{"title":"Ask and You Shall Receive? Gender Differences in Regrades in College","authors":"Cher Hsuehhsiang Li, Basit Zafar","doi":"10.1257/pol.20210053","DOIUrl":"https://doi.org/10.1257/pol.20210053","url":null,"abstract":"Using administrative data from a large public university, we show that male students are 18.6 percent more likely than female students to receive favorable grade changes made by instructors. Surveys of students and instructors reveal that regrade requests are prevalent and that male students are more likely to ask for regrades on the intensive margin. We corroborate the gender differences in regrade requests in an incentivized controlled experiment: we find that males have a higher willingness to pay to ask for regrades. Almost a third of the gender difference is due to gender differences in beliefs and the Big Five traits. (JEL D82, D91, I23, J16)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135658670","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We show that the fiscal authorities of high-tax countries can lack the incentives to combat profit shifting to tax havens. Instead, they have incentives to focus their enforcement efforts on relocating profits booked by multinationals in other high-tax countries, crowding out the enforcement on transactions that shift profits to tax havens, and reducing the global tax payments of multinational companies. The predictions of our model are motivated and supported by the analysis of two new datasets: the universe of transfer price corrections conducted by the Danish tax authority, and new cross-country data on international tax enforcement. (JEL E62, F23, H25, H26, H87, K34)
{"title":"Externalities in International Tax Enforcement: Theory and Evidence","authors":"Thomas Tørsløv, Ludvig Wier, Gabriel Zucman","doi":"10.1257/pol.20200200","DOIUrl":"https://doi.org/10.1257/pol.20200200","url":null,"abstract":"We show that the fiscal authorities of high-tax countries can lack the incentives to combat profit shifting to tax havens. Instead, they have incentives to focus their enforcement efforts on relocating profits booked by multinationals in other high-tax countries, crowding out the enforcement on transactions that shift profits to tax havens, and reducing the global tax payments of multinational companies. The predictions of our model are motivated and supported by the analysis of two new datasets: the universe of transfer price corrections conducted by the Danish tax authority, and new cross-country data on international tax enforcement. (JEL E62, F23, H25, H26, H87, K34)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"241 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135658673","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper provides causal evidence that greater minority representation on school boards translates into greater investment in minority students. Focusing on California school boards, I instrument for minority (specifically, Hispanic) representation using random ballot ordering and leverage new data from a statewide capital investment program to capture intradistrict resource allocations. I show that Hispanic board members invest the marginal dollar in high-Hispanic schools within their districts. High-Hispanic schools also exhibit gains in student achievement and decreased teacher turnover. I conclude that enhancing minority representation on school boards could help combat long-standing disparities in education. JEL (H75, I21, I22, I24, J15)
{"title":"No Spending without Representation: School Boards and the Racial Gap in Education Finance","authors":"Brett Fischer","doi":"10.1257/pol.20200475","DOIUrl":"https://doi.org/10.1257/pol.20200475","url":null,"abstract":"This paper provides causal evidence that greater minority representation on school boards translates into greater investment in minority students. Focusing on California school boards, I instrument for minority (specifically, Hispanic) representation using random ballot ordering and leverage new data from a statewide capital investment program to capture intradistrict resource allocations. I show that Hispanic board members invest the marginal dollar in high-Hispanic schools within their districts. High-Hispanic schools also exhibit gains in student achievement and decreased teacher turnover. I conclude that enhancing minority representation on school boards could help combat long-standing disparities in education. JEL (H75, I21, I22, I24, J15)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136048794","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We study the link between police officers’ on-duty injuries and their peers’ force use using a network of officers who attended the police academy together through a random lottery. On-duty injuries increase the probability of officers using force by 7 percent in the subsequent week. Officers are also more likely to injure suspects and receive complaints about neglecting victims and violating constitutional rights. The effect is concentrated in a narrow time window following the event and is not associated with significantly lower injury risk to the officer. Together, these findings suggest that emotional responses drive the effects rather than social learning. (JEL H76, J28, K42)
{"title":"Peer Effects in Police Use of Force","authors":"Justin E. Holz, Roman Rivera, Bocar A. Ba","doi":"10.1257/pol.20200227","DOIUrl":"https://doi.org/10.1257/pol.20200227","url":null,"abstract":"We study the link between police officers’ on-duty injuries and their peers’ force use using a network of officers who attended the police academy together through a random lottery. On-duty injuries increase the probability of officers using force by 7 percent in the subsequent week. Officers are also more likely to injure suspects and receive complaints about neglecting victims and violating constitutional rights. The effect is concentrated in a narrow time window following the event and is not associated with significantly lower injury risk to the officer. Together, these findings suggest that emotional responses drive the effects rather than social learning. (JEL H76, J28, K42)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"25 1","pages":""},"PeriodicalIF":5.3,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91280612","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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