22 May 2020

Extreme Capital Flow Movements Since the Crisis

Episodes of sudden surges, stops, flight, and retrenchment in capital flows have not increased since the global financial crisis, but now are less correlated with changes in global risk and more difficult to explain with basic variables, Kristin J. Forbes and Francis E. Warnock conclude.

21 May 2020

Enrollment Spillovers in the Oregon Experiment

Analyzing the impact of expanded adult Medicaid eligibility on the Medicaid enrollment of eligible children in the 2008 Oregon Medicaid lottery, Adam Sacarny, Katherine Baicker, and Amy Finkelstein estimate that for every nine adults who enroll in Medicaid due to the lottery, one additional child also enrolls.

20 May 2020

Rebates in the Pharmaceutical Industry

In a study of list prices of prescription drugs and the rebates from manufacturers negotiated by large-scale drug purchasers, Pragya Kakani, Michael Chernew, and Amitabh Chandra find that between 2012 and 2017, the annual inflation rate of list prices was 12 percent, while that of net-of-rebate prices was just 3 percent.

19 May 2020

The Effect of Banning Menthol Cigarettes

Investigating whether menthol cigarettes promote youth smoking, Christopher Carpenter and Hai V. Nguyen find provincial menthol bans in Canada significantly increased non-menthol cigarette smoking among youths, resulting in no overall net change in youth smoking rates.

18 May 2020

Buyers Under-estimate Risks of Flood Damage

A study by Miyuki Hino and Marshall Burke finds that house prices do not fully incorporate available information about flood risk, and estimates that in aggregate floodplain homes in the US are overvalued by $34 billion.

15 May 2020

US Visa Policies and Unauthorized Mexican Immigration

Legal entry bans for deported individuals are ineffective at current rates of legal immigration, since the likelihood of ultimate legal entry is low, but increased legalization rates or a temporary work visa program would amplify the deterrent effects of deportation, Brian K. Kovak and Rebecca Lessem show.

14 May 2020

Across-Country Wage Transmission in Multinational Firms

Multinational employers that link wages at subsidiaries outside of their home region to wage levels at their headquarters transmit wage changes arising from shocks to minimum wages at home, as well as from exchange rates, to their workers at their subsidiaries, Jonas Hjort, Xuan Li, and Heather Sarsons find.

13 May 2020

Ridehailing and Traffic Fatalities

The arrival of ridehailing is associated with an increase of approximately 3 percent in the number of fatalities and fatal accidents, for both vehicle occupants and pedestrians, according to a study by John M. Barrios, Yael Hochberg, and Hanyi Yi.

12 May 2020

The Role of Industry Effects in Earnings Inequality

Most of the rising between-firm earnings inequality that is a key source of the overall increase in earnings inequality across US workers is accounted for by rising inter-industry earnings differentials, not a changing distribution of employment across industries, John C. Haltiwanger and James R. Spletzer conclude.

11 May 2020

Administrative Discretion in Scientific Funding

Analyzing data from a prestigious training program at the National Institute of Health, Donna K. Ginther and Misty L. Heggeness find evidence that the existing peer-review system outperforms program leader discretion in predicting high-quality science and future research independence.
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