Healthy, Happy and Idle: Estimating the Health Capacity to Work at Older Ages...
After two decades of reforms that have tightened eligibility for early retirement and the generosity of social security payments, the German government has begun to turn back time and re-introduce more...
View ArticleHealth Capacity to Work at Older Ages: Evidence from Japan -- by Emiko Usui,...
This paper explores the extent to which older Japanese can potentially expand the labor supply, based on two analytic approaches: the Milligan-Wise and Cutler et al. methods. First, we examine how much...
View ArticleWork Capacity and Longer Working Lives in Belgium -- by Alain Jousten,...
We explore the link between health indicators and employment rates of the population aged 55 or more. Our focus lies on work capacity as a key determinant of employment. Using cohort mortality...
View ArticleHealth, Work Capacity and Retirement in Sweden -- by Per Johansson, Lisa...
Following an era of a development towards earlier retirement, there has been a reversed trend to later exit from the labor market in Sweden since the late 1990s. We investigate whether or not there are...
View ArticleWho Did the Ethanol Tax Credit Benefit? An Event Analysis of Subsidy...
Using commodity futures contract and spot prices, we estimate the incidence of the US ethanol subsidy accruing to corn farmers, ethanol producers, gasoline blenders, and gasoline consumers at...
View ArticleAccounting for the Rise in College Tuition -- by Grey Gordon, Aaron Hedlund
We develop a quantitative model of higher education to test explanations for the steep rise in college tuition between 1987 and 2010. The framework extends the quality-maximizing college paradigm of...
View ArticleWhat Forces Dictate the Design of Pollution Monitoring Networks? -- by...
The U.S. Environmental Protection Agency (USEPA) maintains networks of pollution monitors for two basic purposes: to check and enforce the attainment of national ambient air quality standards (NAAQS)...
View ArticleWage Inequality and Cognitive Skills: Re-Opening the Debate -- by Stijn...
Inequality in the United States is high by international standards, and keeps rising. This is likely to bring significant social as well as economic costs, including lower growth. In this paper, we use...
View ArticlePatents and Innovation in Economic History -- by Petra Moser
A strong tradition in economic history, which primarily relies on qualitative evidence and statistical correlations, has emphasized the importance of patents as a primary driver of innovation. Recent...
View ArticleThe One Child Policy and Promotion of Mayors in China -- by Juan Carlos...
We study the implementation of the One Child Policy to test whether the promotions of mayors were meritocratic. We model the incentive design of provincial governments that evaluate mayors using...
View ArticlePartners in Crime: Schools, Neighborhoods and the Formation of Criminal...
Why do crime rates differ greatly across neighborhoods and schools? Comparing youth who were assigned to opposite sides of newly drawn school boundaries, we show that concentrating disadvantaged youth...
View ArticleUsing Lagged Outcomes to Evaluate Bias in Value-Added Models -- by Raj...
Value-added (VA) models measure the productivity of agents such as teachers or doctors based on the outcomes they produce. The utility of VA models for performance evaluation depends on the extent to...
View ArticleThe Bright Side of Patents -- by Joan Farre-Mensa, Deepak Hegde, Alexander...
Motivated by concerns that the patent system is hindering innovation, particularly for small inventors, this study investigates the bright side of patents. We examine whether patents help startups grow...
View ArticleGlobal Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815-2015...
Capital flow and commodity cycles have long been connected with economic crises. Sparse historical data, however, has made it difficult to connect their timing. We date turning points in global capital...
View ArticleThe Effects of Trade Policy -- by Pinelopi K. Goldberg, Nina Pavcnik
The last two decades have witnessed a shift in the focus of international trade research from trade policy to other forms of trade frictions (e.g., transportation, information and communication costs)....
View ArticleThe Aggregate Implications of Regional Business Cycles -- by Martin Beraja,...
We argue that it is difficult to make inferences about the drivers of aggregate business cycles using regional variation alone because (i) the local and aggregate elasticities to the same type of shock...
View ArticleFinancial Frictions and Unconventional Monetary Policy in Emerging Economies...
We analyze conventional and unconventional monetary policies in a dynamic small open-economy model with financial frictions. In the model, financial intermediaries or banks borrow from the world market...
View ArticleJapanization: Is it Endemic or Epidemic? -- by Takatoshi Ito
Japanization is defined as a combinations of the following economic conditions: (1) the actual growth rate is lower than the potential growth rate for an extended period; (2) the natural real interest...
View ArticleCFTC Issues An Exemption To The Korea Exchange Permitting Designated Korea...
The Commodity Futures Trading Commission (CFTC) today issued an Order to the Korea Exchange (KRX) permitting certain KRX Members to solicit and accept orders and in connection therewith, accept funds...
View ArticleESMA, National Securities Regulators And ECB To Exchange Information
The European Securities and Markets Authority (ESMA) and the European Central Bank (ECB) have concluded a Memorandum of Understanding (MoU) that will allow the exchange of information and cooperation...
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