David A Keiser, Bhashkar Mazumder, David Molitor, Joseph S Shapiro, Brant J Walker
The quality and inequality of US drinking water investments have gained attention after recent environmental disasters in Flint, Michigan, and elsewhere. We compare the formula-based targeting of subsidized loans provided under the Safe Drinking Water Act with the targeting of congressional drinking water earmarks ("pork barrel" spending). Earmarks are often critiqued for potentially privileging wealthier and more politically connected communities. We find that earmarks target Black, Hispanic, and low-income communities, partly due to targeting water systems serving large populations. Earmark and loan targeting differ significantly across all the demographics we analyze. Compared to Safe Drinking Water Act loans, earmarks disproportionately target Hispanic communities but not Black or low-income communities.
{"title":"Do Earmarks Target Low-Income and Minority Communities? Evidence from US Drinking Water.","authors":"David A Keiser, Bhashkar Mazumder, David Molitor, Joseph S Shapiro, Brant J Walker","doi":"10.1257/pandp.20241009","DOIUrl":"10.1257/pandp.20241009","url":null,"abstract":"<p><p>The quality and inequality of US drinking water investments have gained attention after recent environmental disasters in Flint, Michigan, and elsewhere. We compare the formula-based targeting of subsidized loans provided under the Safe Drinking Water Act with the targeting of congressional drinking water earmarks (\"pork barrel\" spending). Earmarks are often critiqued for potentially privileging wealthier and more politically connected communities. We find that earmarks target Black, Hispanic, and low-income communities, partly due to targeting water systems serving large populations. Earmark and loan targeting differ significantly across all the demographics we analyze. Compared to Safe Drinking Water Act loans, earmarks disproportionately target Hispanic communities but not Black or low-income communities.</p>","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"114 ","pages":"36-40"},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC11784941/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143082350","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A major development in 2004 was the launch of a CEE-sponsored “Teaching Innovations Program” (TIP) for faculty members in economics. It is funded by a $675,000 grant over five years from the National Science Foundation and is co-directed by William Walstad and Michael Salemi. It has three phases for faculty participation. In Phase 1, faculty members will attend instructional workshops where they will work in teams to learn about interactive learning strategies and materials. Two such workshops are planned for May and June of 2005—one at the University of North Carolina and the other at Georgetown University. Additional workshops will be offered and new participants will be recruited during each year of the project. In Phase 2, faculty members will return to their home institutions, receive online instruction to help use the new teaching strategies they learned at the workshops, and apply interactive methods for teaching in their courses. In Phase 3, they will have opportunities to advance the scholarship of teaching and learning in economics by sharing teaching experiences, writing papers, and attending meetings on teaching. A more detailed description of TIP and information on how to apply for workshops can be found at www.vanderbilt.edu/AEA/AEACEE/ TIP . The CEE sponsored two paper sessions as part of the AEA program at the ASSA meetings. The first paper session was on “Perspectives on Research and Teaching in Economics.” It was chaired by Dan Hamermesh and organized by William Walstad. The paper by William Becker and Peter Kennedy reports the results from responses received from active researchers in economics who were asked if they could cite a specific instance in which their research was substantively influenced by their teaching. The paper by William Walstad and Sam Allgood presents the results from a national survey of economics faculty on their views about the relationship between teaching and research. The paper by Ronald Ehrenberg studies the decreasing share of the undergraduate students being taught by full-time tenure and tenure-track faculty and increasing shares taught by “contingent faculty” (full-time non-tenure-track and parttime faculty and graduate students). John Siegfried, Cecilia Rouse, and David Colander served as discussants for the session. The three papers are published in this issue of the Papers and Proceedings. The second CEE paper session focused on “New Developments in High School Economics” to give attention to recent activity at the pre-college level. It was chaired by Michael Watts and organized by William Walstad. The paper by Alan Krueger discusses using a webbased questionnaire for providing economics instruction in high school. The second paper, by Don Leet and Jane Lopus, offers ten observations on U.S. high-school economics textbooks using the Voluntary National Content Standards in Economics as one reference for content coverage. The third paper, by Stephen Buckles and William Walstad, explains the devel
{"title":"Report of the Committee on Economic Education","authors":"J. Siegfried","doi":"10.1257/aer.97.2.563","DOIUrl":"https://doi.org/10.1257/aer.97.2.563","url":null,"abstract":"A major development in 2004 was the launch of a CEE-sponsored “Teaching Innovations Program” (TIP) for faculty members in economics. It is funded by a $675,000 grant over five years from the National Science Foundation and is co-directed by William Walstad and Michael Salemi. It has three phases for faculty participation. In Phase 1, faculty members will attend instructional workshops where they will work in teams to learn about interactive learning strategies and materials. Two such workshops are planned for May and June of 2005—one at the University of North Carolina and the other at Georgetown University. Additional workshops will be offered and new participants will be recruited during each year of the project. In Phase 2, faculty members will return to their home institutions, receive online instruction to help use the new teaching strategies they learned at the workshops, and apply interactive methods for teaching in their courses. In Phase 3, they will have opportunities to advance the scholarship of teaching and learning in economics by sharing teaching experiences, writing papers, and attending meetings on teaching. A more detailed description of TIP and information on how to apply for workshops can be found at www.vanderbilt.edu/AEA/AEACEE/ TIP . The CEE sponsored two paper sessions as part of the AEA program at the ASSA meetings. The first paper session was on “Perspectives on Research and Teaching in Economics.” It was chaired by Dan Hamermesh and organized by William Walstad. The paper by William Becker and Peter Kennedy reports the results from responses received from active researchers in economics who were asked if they could cite a specific instance in which their research was substantively influenced by their teaching. The paper by William Walstad and Sam Allgood presents the results from a national survey of economics faculty on their views about the relationship between teaching and research. The paper by Ronald Ehrenberg studies the decreasing share of the undergraduate students being taught by full-time tenure and tenure-track faculty and increasing shares taught by “contingent faculty” (full-time non-tenure-track and parttime faculty and graduate students). John Siegfried, Cecilia Rouse, and David Colander served as discussants for the session. The three papers are published in this issue of the Papers and Proceedings. The second CEE paper session focused on “New Developments in High School Economics” to give attention to recent activity at the pre-college level. It was chaired by Michael Watts and organized by William Walstad. The paper by Alan Krueger discusses using a webbased questionnaire for providing economics instruction in high school. The second paper, by Don Leet and Jane Lopus, offers ten observations on U.S. high-school economics textbooks using the Voluntary National Content Standards in Economics as one reference for content coverage. The third paper, by Stephen Buckles and William Walstad, explains the devel","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"49 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73540198","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Most economy-wide studies of merger activity ignore deals whose terms are not announced. Using US data, I find that restricting attention to mergers with publicized values eliminates 60 percent or more of transactions. Exploiting a change in antitrust law, I find that mergers with unpublicized values are competitively significant. The data even suggest that these transactions reflect, at least in part, strategic attempts to avoid enforcement actions by escaping detection. Last, relying on an idiosyncratic feature of accounting standards to infer their size distribution, I find that ignoring mergers with unpublicized values undermeasures the extent of stealth consolidation by 40 percent.
{"title":"Terms of the Deal Were Not Announced: Accounting for Mergers with Unpublicized Values","authors":"Thomas G. Wollmann","doi":"10.1257/pandp.20231099","DOIUrl":"https://doi.org/10.1257/pandp.20231099","url":null,"abstract":"Most economy-wide studies of merger activity ignore deals whose terms are not announced. Using US data, I find that restricting attention to mergers with publicized values eliminates 60 percent or more of transactions. Exploiting a change in antitrust law, I find that mergers with unpublicized values are competitively significant. The data even suggest that these transactions reflect, at least in part, strategic attempts to avoid enforcement actions by escaping detection. Last, relying on an idiosyncratic feature of accounting standards to infer their size distribution, I find that ignoring mergers with unpublicized values undermeasures the extent of stealth consolidation by 40 percent.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"143 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74870174","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Review of the Editor, American Economic Journal: Microeconomics","authors":"","doi":"10.1257/pandp.113.765","DOIUrl":"https://doi.org/10.1257/pandp.113.765","url":null,"abstract":"","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"14 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73343142","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In a managed retreat, or “buyout,” program, homeowners are offered their property's fair-market value to relocate from a flood-prone area. Using a nationwide sample of federal buyout acquisitions and the universe of US housing transactions over the last two decades, we estimate whether the discount in buyout price compensation, calculated using a hedonic prediction model, depends on a homeowner's race. We provide the first systematic evidence of inequitable compensation in a federal buyout program using nationwide administrative data. Disproportionate compensation, in an attempt to adapt to a warming climate, may further widen the wealth and social mobility gaps.
{"title":"Racial Gaps in Federal Flood Buyout Compensations","authors":"K. Jowers, Lala Ma, C. Timmins","doi":"10.1257/pandp.20231131","DOIUrl":"https://doi.org/10.1257/pandp.20231131","url":null,"abstract":"In a managed retreat, or “buyout,” program, homeowners are offered their property's fair-market value to relocate from a flood-prone area. Using a nationwide sample of federal buyout acquisitions and the universe of US housing transactions over the last two decades, we estimate whether the discount in buyout price compensation, calculated using a hedonic prediction model, depends on a homeowner's race. We provide the first systematic evidence of inequitable compensation in a federal buyout program using nationwide administrative data. Disproportionate compensation, in an attempt to adapt to a warming climate, may further widen the wealth and social mobility gaps.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"5 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77730802","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We estimate the responsiveness of net labor migration to regional differences in unemployment rates across the United States since the mid-1970s. Our baseline estimate suggests an elasticity of roughly -0.3. For typical labor force participation ratios, an increase of 100 unemployed workers in an area is associated with net out-migration of roughly 47 workers. Instrumenting for regional unemployment produces even higher estimates. Our estimates are stable over time, inclusive of the Great Recession. The estimates depend crucially on accurate data and accounting for long-term trends in migration and unemployment.
{"title":"Labor Mobility and Unemployment over the Business Cycle","authors":"Andrea Foschi, C. House, C. Proebsting, L. Tesar","doi":"10.1257/pandp.20231079","DOIUrl":"https://doi.org/10.1257/pandp.20231079","url":null,"abstract":"We estimate the responsiveness of net labor migration to regional differences in unemployment rates across the United States since the mid-1970s. Our baseline estimate suggests an elasticity of roughly -0.3. For typical labor force participation ratios, an increase of 100 unemployed workers in an area is associated with net out-migration of roughly 47 workers. Instrumenting for regional unemployment produces even higher estimates. Our estimates are stable over time, inclusive of the Great Recession. The estimates depend crucially on accurate data and accounting for long-term trends in migration and unemployment.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81837806","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pollution concentrations (PM2.5) in the United States have fallen in recent decades. Despite these improvements, disparities in concentrations between racial/ethnic groups persist. We combine administrative data on the universe of emergency room (ER) admissions across California with satellite information on PM2.5 concentrations and compare recent trends in racial/ethnic disparities for PM2.5 and asthma rates. We find that PM2.5 concentrations fell for the average Black, Hispanic, and White individual. Similarly, disparities in PM2.5 concentrations fell between Black and White individuals and between Hispanic and White individuals. However, racial disparities in asthma rates, as measured by asthma-related ER visits per resident, have increased overall and broadly across the income distribution.
{"title":"Do Health Disparities Narrow with Pollution Disparities? Trends from California","authors":"Danae Hernández-Cortés, Kyle C. Meng","doi":"10.1257/pandp.20231128","DOIUrl":"https://doi.org/10.1257/pandp.20231128","url":null,"abstract":"Pollution concentrations (PM2.5) in the United States have fallen in recent decades. Despite these improvements, disparities in concentrations between racial/ethnic groups persist. We combine administrative data on the universe of emergency room (ER) admissions across California with satellite information on PM2.5 concentrations and compare recent trends in racial/ethnic disparities for PM2.5 and asthma rates. We find that PM2.5 concentrations fell for the average Black, Hispanic, and White individual. Similarly, disparities in PM2.5 concentrations fell between Black and White individuals and between Hispanic and White individuals. However, racial disparities in asthma rates, as measured by asthma-related ER visits per resident, have increased overall and broadly across the income distribution.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"19 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78269709","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this paper, we examine the balance between allocative efficiency and price discovery in blockchain-based finance. Our analysis reveals that the use of private pools, while improving blockspace allocation efficiency, negatively impacts price discovery. We show that the presence of private pools limits the amount of information revealed through pending orders and increases the execution risk of informed orders. We argue that price discovery can be improved by increasing the number of validators monitoring private pools or the block production rate on the chain.
{"title":"Blockchain Private Pools and Price Discovery","authors":"A. Capponi, R. Jia, Ye Wang","doi":"10.1257/pandp.20231030","DOIUrl":"https://doi.org/10.1257/pandp.20231030","url":null,"abstract":"In this paper, we examine the balance between allocative efficiency and price discovery in blockchain-based finance. Our analysis reveals that the use of private pools, while improving blockspace allocation efficiency, negatively impacts price discovery. We show that the presence of private pools limits the amount of information revealed through pending orders and increases the execution risk of informed orders. We argue that price discovery can be improved by increasing the number of validators monitoring private pools or the block production rate on the chain.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"45 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78532375","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Report of the Task Force on Outreach to High School and Undergraduate Students in Economics","authors":"","doi":"10.1257/pandp.111.789","DOIUrl":"https://doi.org/10.1257/pandp.111.789","url":null,"abstract":"","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"21 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76772198","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The literature in pedagogy has shown that having a sense of belonging affects learning. This paper shows the result of a communication experiment in an online environment. For six consecutive terms, the instructor taught Introduction to Statistics. The instructor added a more direct communication strategy during two of those five terms. She used weekly communications that linked course material with events discussed by students previously and a personal message to each student. The intervention resulted in improved learning, measured by better grades, and more enjoyment of the course, measured using student comments in teaching evaluations.
{"title":"Messages That Foster a Sense of Belonging Improve Learning and Satisfaction: An Experiment in an Online Environment","authors":"Sara Avila Forcada","doi":"10.1257/pandp.20231048","DOIUrl":"https://doi.org/10.1257/pandp.20231048","url":null,"abstract":"The literature in pedagogy has shown that having a sense of belonging affects learning. This paper shows the result of a communication experiment in an online environment. For six consecutive terms, the instructor taught Introduction to Statistics. The instructor added a more direct communication strategy during two of those five terms. She used weekly communications that linked course material with events discussed by students previously and a personal message to each student. The intervention resulted in improved learning, measured by better grades, and more enjoyment of the course, measured using student comments in teaching evaluations.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"200 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76963086","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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