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We study the costs of hospitalizations on patients' earnings and labor supply, using the universe of hospital … labor market consequences of a given diagnosis and propose a new measure of hospital quality, the "Adjusted Earning Losses …
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The interaction between credit frictions, financial innovation, and a switch from optimistic to pessimistic beliefs played a central role in the 2008 financial crisis. This paper develops a quantitative general equilibrium framework in which this interaction drives the financial amplification...
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