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Conventional wisdom in the field of international finance holds that the U.S. economy has become so open financiallly as to be characterized by perfect capital mobility: a highly elastic supply of foreign capital prevents the domestic rate of return from rising significantly above the world rate...
Persistent link: https://www.econbiz.de/10012477303
spillovers as the domestic scientists they displace. To test this condition, we conduct an experiment in which each immigrant …
Persistent link: https://www.econbiz.de/10012453197
Many community organizations provide services similar to government programs, but there is limited evidence how increased government aid affects the use and availability of charitable services. This study examines how greater access to federal nutrition assistance through schoolwide free meal...
Persistent link: https://www.econbiz.de/10015361438
The presence of a westward-moving frontier of settlement shaped early U.S. history. In 1893, the historian Frederick Jackson Turner famously argued that the American frontier fostered individualism. We investigate the Frontier Thesis and identify its long-run implications for culture and...
Persistent link: https://www.econbiz.de/10012453717
The COVID-19 pandemic has forced countries to make difficult ethical choices, e.g., how to balance public health and socioeconomic activity and whom to prioritize in allocating vaccines or other scarce medical resources. We discuss the implications of benefit-cost analysis, utilitarianism, and...
Persistent link: https://www.econbiz.de/10012496155
We quantify the real implications of trade-offs between firm information disclosure and long-term investment efficiency. We estimate a dynamic equilibrium model in which firm managers confront realistic incentives to misreport earnings and distort their real investment choices. The model implies...
Persistent link: https://www.econbiz.de/10012814411
insurers to deny services before they are rendered. Exploiting a large natural experiment in which Medicaid beneficiaries were …
Persistent link: https://www.econbiz.de/10013362044
Local governments can provide services with their own employees or by contracting with private or public sector providers. We develop a model of this "make-or-buy" choice that highlights the trade-off between productive efficiency and the costs of contract administration. We construct a dataset...
Persistent link: https://www.econbiz.de/10012465302
In the United States, the two principal modes of producing local government services are inhouse provision by government employees and contracting out to private suppliers, also known as privatization. We examine empirically how United States counties choose their mode of providing services. The...
Persistent link: https://www.econbiz.de/10012473773
Many government services are provided at the state level such as unemployment insurance, Medicaid, and SNAP. Given the lack of competition, a natural worry is that customer support provided by states for these services is less than adequate. While there are many different measures of how a state...
Persistent link: https://www.econbiz.de/10012599345