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Articles 1 - 13 of 13
Full-Text Articles in Social and Behavioral Sciences
Put Your Money Where Your Butt Is: A Commitment Contract For Smoking Cessation, Xavier Giné, Dean Karlan, Jonathan Zinman
Put Your Money Where Your Butt Is: A Commitment Contract For Smoking Cessation, Xavier Giné, Dean Karlan, Jonathan Zinman
Dartmouth Scholarship
We designed and tested a voluntary commitment product to help smokers quit smoking. The product (CARES) offered smokers a savings account in which they deposit funds for six months, after which they take a urine test for nicotine and cotinine. If they pass, their money is returned; otherwise, their money is forfeited to charity. Of smokers offered CARES, 11 percent took up, and smokers randomly offered CARES were 3 percentage points more likely to pass the 6-month test than the control group. More importantly, this effect persisted in surprise tests at 12 months, indicating that CARES produced lasting smoking cessation. …
The Margins Of Multinational Production And The Role Of Intrafirm Trade, Alfonso Irarrazabal, Andreas Moxnes, Luca David Opromolla
The Margins Of Multinational Production And The Role Of Intrafirm Trade, Alfonso Irarrazabal, Andreas Moxnes, Luca David Opromolla
Dartmouth Scholarship
In this paper we provide a quantitative analytical framework for analyzing trade and multinational production (MP), consistent with a set of stylized facts for trade and MP, among them that both exports and MP adhere to a gravity model. We propose a heterogeneous firm trade model where firms choose endogenously whether to serve foreign markets through MP or exports, where headquarters and affiliates are vertically integrated, and where firms face stochastic entry and demand shocks in each market. Using a unique firm-level data set on production, trade and MP, we establish key regularities about the entry and sales patterns of …
Trade Restrictiveness And Deadweight Losses From Us Tariffs, Douglas A. Irwin
Trade Restrictiveness And Deadweight Losses From Us Tariffs, Douglas A. Irwin
Dartmouth Scholarship
This paper calculates a trade restrictiveness index, i.e., the uniform tariff that yields the same welfare loss as an existing tariff structure, for nearly a century of US data. The results show that the average tariff understates the TRI by about 75 percent. The static deadweight loss from US tariffs is about 1 percent of GDP after the Civil War, but falls almost continuously thereafter to less than one-tenth of 1 percent of GDP. Import duties produced an average welfare loss of 40 cents for every dollar of revenue, slightly higher than contemporary estimates of the marginal cost of taxation. …
Intrafirm Trade And Product Contractibility, Andrew B. Bernard, J. Bradford Jensen, Stephen J. Redding, Peter K. Schott
Intrafirm Trade And Product Contractibility, Andrew B. Bernard, J. Bradford Jensen, Stephen J. Redding, Peter K. Schott
Dartmouth Scholarship
No abstract provided.
Wholesalers And Retailers In Us Trade, Andrew B. Bernard, J. Bradford Jensen, Stephen J. Redding, Peter K. Schott
Wholesalers And Retailers In Us Trade, Andrew B. Bernard, J. Bradford Jensen, Stephen J. Redding, Peter K. Schott
Dartmouth Scholarship
International trade models typically assume that producers in one country trade directly with final consumers in another. In the real world, of course, trade can involve long chains of potentially independent actors who move goods through wholesale and retail distribution networks. These networks likely affect the mag-nitude and nature of trade frictions and hence both the pattern of trade and its welfare gains. To promote further understanding of how goods move across borders, this paper examines the extent to which US exports and imports flow through wholesalers and retailers versus “pro-ducing and consuming” firms. We highlight a number of stylized …
Disclosure By Politicians, Simeon Djankov, Rafael La Porta, Florencio Lopez-De-Silanes, Andrei Shleifer
Disclosure By Politicians, Simeon Djankov, Rafael La Porta, Florencio Lopez-De-Silanes, Andrei Shleifer
Dartmouth Scholarship
We collect data on the rules and practices of financial and conflict disclosure by members of Parliament in 175 countries. Although two-thirds of the countries have some disclosure laws, less than one-third make disclosures available to the public, and less than one-sixth of potentially useful information is publicly available in practice, on average. Countries that are richer, more democratic, and have free press have more disclosure. Public disclosure, but not internal disclosure to parliament, is positively related to government quality, including lower corruption. (JEL J13, I21, I12)
Financial Stability, The Trilemma, And International Reserves, Maurice Obstfeld, Jay C. Shambaugh, Alan M. Taylor
Financial Stability, The Trilemma, And International Reserves, Maurice Obstfeld, Jay C. Shambaugh, Alan M. Taylor
Dartmouth Scholarship
The rapid growth of international reserves, a development concentrated in the emerging markets, remains a puzzle. In this paper, we suggest that a model based on financial stability and financial openness goes far toward explaining reserve holdings in the modern era of globalized capital markets. The size of domestic financial liabilities that could potentially be converted into foreign currency (M2), financial openness, the ability to access foreign currency through debt markets, and exchange rate policy are all significant predictors of reserve stocks. Our empirical financial-stability model seems to outperform both traditional models and recent explanations based on external short-term debt.
Countervailing Power In Wholesale Pharmaceuticals, Sara F. Ellison, Christopher M. Snyder
Countervailing Power In Wholesale Pharmaceuticals, Sara F. Ellison, Christopher M. Snyder
Dartmouth Scholarship
Using data on wholesale prices for antibiotics sold to U.S. drugstores, we test the growing theoretical literature on ‘countervailing power’ (a term for the ability of large buyers to extract discounts from suppliers). Large drugstores receive a modest discount for antibiotics produced by competing suppliers but no discount for antibiotics produced by monopolists. These findings support theories suggesting that supplier competition is a prerequisite for countervailing power. As further evidence for the importance of supplier competition, we find that hospitals receive substantial discounts relative to drugstores, attributed to hospitals' greater ability to induce supplier competition through restrictive formularies.
Multiple-Product Firms And Product Switching, Andrew B. Bernard, Stephen J. Redding, Peter K. Schott
Multiple-Product Firms And Product Switching, Andrew B. Bernard, Stephen J. Redding, Peter K. Schott
Dartmouth Scholarship
This paper examines the frequency, pervasiveness, and determinants of product switching by US manufacturing firms. We find that one-half of firms alter their mix of five-digit SIC products every five years, that product switching is correlated with both firm- and firm-product attributes, and that product adding and dropping induce large changes in firm scope. The behavior we observe is consistent with a natural generalization of existing theories of industry dynamics that incorporates endogenous product selection within firms. Our findings suggest that product switching contributes to a reallocation of resources within firms toward their most efficient use. (JEL L11, L21, L25, …
Financial Exchange Rates And International Currency Exposures, Philip R. Lane, Jay C. Shambaugh
Financial Exchange Rates And International Currency Exposures, Philip R. Lane, Jay C. Shambaugh
Dartmouth Scholarship
In order to gain a better empirical understanding of the international financial implications of currency movements, we construct a database of international currency exposures for a large panel of countries over 1990-2004. We show that trade-weighted exchange rate indices are insufficient to understand the financial impact of currency movements and that our currency measures have high explanatory power for the valuation term in net foreign asset dynamics. Exchange rate valuation shocks are sizable, not quickly reversed, and may entail substantial wealth redistributions. Further, we show that many developing countries have substantially reduced their negative foreign currency positions over the last …
Searching For Effective Teachers With Imperfect Information, Douglas O. Staiger, Jonah E. Rockoff
Searching For Effective Teachers With Imperfect Information, Douglas O. Staiger, Jonah E. Rockoff
Dartmouth Scholarship
Over the past four decades, empirical researchers -- many of them economists -- have accumulated an impressive amount of evidence on teachers. In this paper, we ask what the existing evidence implies for how school leaders might recruit, evaluate, and retain teachers. We begin by summarizing the evidence on five key points, referring to existing work and to evidence we have accumulated from our research with the nation's two largest school districts: Los Angeles and New York City. First, teachers display considerable heterogeneity in their effects on student achievement gains. Second, estimates of teacher effectiveness based on student achievement data …
What The Stock Market Decline Means For The Financial Security And Retirement Choices Of The Near-Retirement Population, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai
What The Stock Market Decline Means For The Financial Security And Retirement Choices Of The Near-Retirement Population, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai
Dartmouth Scholarship
This paper investigates the effect of the current recession on the retirement age population. Data from the Health and Retirement Study suggest that those approaching retirement age (early boomers ages 53 to 58 in 2006) have only 15.2 percent of their wealth in stocks, held directly or in defined contribution plans or IRAs. Their vulnerability to a stock market decline is limited by the high value of their Social Security wealth, which represents over a quarter of the total household wealth of the early boomers. In addition, their defined contribution plans remain immature, so their defined benefit plans represent sixty …
Is There Monopsony In The Labor Market? Evidence From A Natural Experiment, Douglas O. Staiger, Joanne Spetz, Ciaran S. Phibbs
Is There Monopsony In The Labor Market? Evidence From A Natural Experiment, Douglas O. Staiger, Joanne Spetz, Ciaran S. Phibbs
Dartmouth Scholarship
Recent theoretical and empirical advances have renewed interest in monopsonistic models of the labor market. However, there is little direct empirical support for these models. We use an exogenous change in wages at Department of Veterans Affairs (VA) hospitals as a natural experiment to investigate the extent of monopsony in the nurse labor market. We estimate that labor supply to individual hospitals is quite inelastic, with short-run elasticity around 0.1. We also find that non-VA hospitals responded to the VA wage change by changing their own wages.