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data from New York City, which assigns accountability grades to schools based on student achievement, I perform a … find that a lower accountability grade decreases teacher turnover and increases joining teachers' quality. A likely channel … is that accountability pressures induce increases in principal effort at lower-graded schools, especially among high …
Persistent link: https://www.econbiz.de/10012918064
Emancipation of slaves in the 1830s transformed the political elites of the British-Caribbean plantation islands. New elites were more accountable to the citizenry. We develop a theory in which two factors limit and possibly reverse the effect of this on political outcomes, with legislators (i)...
Persistent link: https://www.econbiz.de/10012980193
transparency in fiscal transfer systems can increase accountability and reduce corruption in the implementation of a workfare …
Persistent link: https://www.econbiz.de/10012979769
Some booms in housing prices are followed by busts. Others are not. It is generally difficult to find observable fundamentals that are useful for predicting whether a boom will turn into a bust or not. We develop a model consistent with these observations. Agents have heterogeneous expectations...
Persistent link: https://www.econbiz.de/10013130972
Economics and history both strive to understand causation: economics using instrumental variables econometrics and …
Persistent link: https://www.econbiz.de/10013131513
economics and reality. More precisely, it asks how reality in the form empirical evidence does or does not influence economic … from general to specific. For the general perspective, I examine the following four points of view. First, economics is a … science. Second, economics is an art. Third, economics is a competition. Forth, economics politics. I then examine four …
Persistent link: https://www.econbiz.de/10013137582
A large literature following Hirsch (2005) has proposed citation-based indexes that could be used to rank academics. This paper examines how well several such indexes match labor market outcomes using data on the citation records of young tenured economists at 25 U.S. departments. Variants of...
Persistent link: https://www.econbiz.de/10013137591
-purpose publication with highly disparate content. Over time the economics profession expanded and more economics research was produced …
Persistent link: https://www.econbiz.de/10013139146
In this essay I review Sylvia Nasar's long awaited new history of economics, Grand Pursuit. I describe how the book is … and foibles to show they are human! I contrast the general view of the role of economics in Grand Pursuit with Robert …
Persistent link: https://www.econbiz.de/10013118245
We question a deep-ingrained doctrine in asset pricing: If an empirical characteristic-return relation is consistent with investor "rationality," the relation must be "explained" by a risk factor model. The investment approach changes the big picture of asset pricing. Factors formed on...
Persistent link: https://www.econbiz.de/10013121598