cometadata/datacite-titles-descriptions-related-identifiers huggingface dataset:
DOI: 10.3886/e116093v1
title: Replication data for: Crash and Wait? The Impact of the Great Recession on the Retirement Plans of Older Americans

description: This study uses data from pre- and post-crash surveys from the Cognitive Economics study to examine the impact of recent stock and labor market wealth losses on the planned retirement ages of older Americans. Regression estimates imply that the average wealth loss between July 2008 and May/June 2009 is associated with an increase in planned retirement age of approximately 2.5 months. Furthermore, pessimism about future stock market returns is found to amplify the impact of wealth losses on retirement timing.
DOI: 10.3886/e116143v1
title: Replication data for: Debt Relief and Debtor Outcomes: Measuring the Effects of Consumer Bankruptcy Protection

description: Consumer bankruptcy is one of the largest social insurance programs in the United States, but little is known about its impact on debtors. We use 500,000 bankruptcy filings matched to administrative tax and foreclosure data to estimate the impact of Chapter 13 bankruptcy protection on subsequent outcomes. Exploiting the random assignment of bankruptcy filings to judges, we find that Chapter 13 protection increases annual earnings by $5,562, decreases five-year mortality by 1.2 percentage points, and decreases five-year foreclosure rates by 19.1 percentage points. These results come primarily from the deterioration of outcomes among dismissed filers, not gains by granted filers. (JEL D14, I12, J22, J31, K35)
DOI: 10.3886/e116093
title: Replication data for: Crash and Wait? The Impact of the Great Recession on the Retirement Plans of Older Americans

description: This study uses data from pre- and post-crash surveys from the Cognitive Economics study to examine the impact of recent stock and labor market wealth losses on the planned retirement ages of older Americans. Regression estimates imply that the average wealth loss between July 2008 and May/June 2009 is associated with an increase in planned retirement age of approximately 2.5 months. Furthermore, pessimism about future stock market returns is found to amplify the impact of wealth losses on retirement timing.
DOI: 10.3886/e116121v1
title: Replication data for: The Aggregate Impact of Household Saving and Borrowing Constraints: Designing a Field Experiment in Uganda

description: We develop a model of households with multiple needs (smoothing shocks, financing investment) and constraints (limited credit, self-control issues) in order to examine the nature of household's financing constraints in a developing country, and the impact of relaxing them. We show that increased access to credit has very different implications for the aggregate model economy depending on its form: asset-financed or cash. We then illustrate how a short-term increase in access to loans leads to very distinct behavior in the short run. The relevance of the model can be evaluated using a field experiment, which we are currently implementing in Uganda.
DOI: 10.3886/e116143
title: Replication data for: Debt Relief and Debtor Outcomes: Measuring the Effects of Consumer Bankruptcy Protection

description: Consumer bankruptcy is one of the largest social insurance programs in the United States, but little is known about its impact on debtors. We use 500,000 bankruptcy filings matched to administrative tax and foreclosure data to estimate the impact of Chapter 13 bankruptcy protection on subsequent outcomes. Exploiting the random assignment of bankruptcy filings to judges, we find that Chapter 13 protection increases annual earnings by $5,562, decreases five-year mortality by 1.2 percentage points, and decreases five-year foreclosure rates by 19.1 percentage points. These results come primarily from the deterioration of outcomes among dismissed filers, not gains by granted filers. (JEL D14, I12, J22, J31, K35)
DOI: 10.3886/e116121
title: Replication data for: The Aggregate Impact of Household Saving and Borrowing Constraints: Designing a Field Experiment in Uganda

description: We develop a model of households with multiple needs (smoothing shocks, financing investment) and constraints (limited credit, self-control issues) in order to examine the nature of household's financing constraints in a developing country, and the impact of relaxing them. We show that increased access to credit has very different implications for the aggregate model economy depending on its form: asset-financed or cash. We then illustrate how a short-term increase in access to loans leads to very distinct behavior in the short run. The relevance of the model can be evaluated using a field experiment, which we are currently implementing in Uganda.
DOI: 10.3886/e116122
title: Replication data for: Can Intangible Capital Explain Cyclical Movements in the Labor Wedge?

description: Intangible capital is an important factor of production in modern economies that is generally neglected in business cycle analyses. We demonstrate that intangible capital can have a substantial impact on business cycle dynamics, especially if the intangible is complementary with production capacity. We focus on customer capital: the capital embodied in the relationships a firm has with its customers. Introducing customer capital into a standard real business cycle model generates a volatile and countercyclical labor wedge, due to a mismeasured marginal product of labor. We also provide new evidence on cyclical variation in selling effort to discipline the exercise.
DOI: 10.3886/e116122v1
title: Replication data for: Can Intangible Capital Explain Cyclical Movements in the Labor Wedge?

description: Intangible capital is an important factor of production in modern economies that is generally neglected in business cycle analyses. We demonstrate that intangible capital can have a substantial impact on business cycle dynamics, especially if the intangible is complementary with production capacity. We focus on customer capital: the capital embodied in the relationships a firm has with its customers. Introducing customer capital into a standard real business cycle model generates a volatile and countercyclical labor wedge, due to a mismeasured marginal product of labor. We also provide new evidence on cyclical variation in selling effort to discipline the exercise.
DOI: 10.3886/e116123v1
title: Replication data for: Retirement Security in an Aging Population

description: Elderly individuals exhibit wide disparities in their sources of income. For those in the bottom half of the income distribution, Social Security is the most important source of support; program changes would directly affect their well-being. Income from private pensions, assets, and earnings are relatively more important for higher-income elderly individuals, who have more diverse income sources. The trend from private sector defined benefit to defined contribution pension plans has shifted responsibility for retirement security to individuals. A significant subset of the population is unlikely to be able to sustain their standard of living in retirement without higher pre-retirement saving.
DOI: 10.3886/e116123
title: Replication data for: Retirement Security in an Aging Population

description: Elderly individuals exhibit wide disparities in their sources of income. For those in the bottom half of the income distribution, Social Security is the most important source of support; program changes would directly affect their well-being. Income from private pensions, assets, and earnings are relatively more important for higher-income elderly individuals, who have more diverse income sources. The trend from private sector defined benefit to defined contribution pension plans has shifted responsibility for retirement security to individuals. A significant subset of the population is unlikely to be able to sustain their standard of living in retirement without higher pre-retirement saving.
DOI: 10.3886/e116124v1
title: Replication data for: Disparities in Wealth Accumulation and Loss from the Great Recession and Beyond

description: Using over two decades of Survey of Consumer Finances data and a pseudo-panel technique, we measure the impact of the Great Recession on US family wealth relative to the counterfactual of what wealth would have been given wealth accumulation trajectories. Our synthetic cohort-level models find that the Great Recession reduced average family wealth by 28.5 percent–nearly double the magnitude of previous pre-post mean descriptive estimates and double the magnitude of any previous recession since the 1980s. The housing market was only part of the story; all major wealth components fell as a result of the Great Recession.
DOI: 10.3886/e116124
title: Replication data for: Disparities in Wealth Accumulation and Loss from the Great Recession and Beyond

description: Using over two decades of Survey of Consumer Finances data and a pseudo-panel technique, we measure the impact of the Great Recession on US family wealth relative to the counterfactual of what wealth would have been given wealth accumulation trajectories. Our synthetic cohort-level models find that the Great Recession reduced average family wealth by 28.5 percent–nearly double the magnitude of previous pre-post mean descriptive estimates and double the magnitude of any previous recession since the 1980s. The housing market was only part of the story; all major wealth components fell as a result of the Great Recession.
DOI: 10.3886/e116125v1
title: Replication data for: All for One? Family Size and Children's Educational Distribution under Credit Constraints

description: This paper examines the possibility that a child's years of schooling could increase in the number of siblings, instead of being diminished by competition for parents' resources: if unable to finance the education of their younger children, parents may do so through their older children's labor income. We examine this possibility in a model combining convex returns to education and credit constraints. Our model predicts correlations among family size, years of schooling and birth order, which would not exist when either of these two elements is absent. Empirical patterns shown in the United States, Mexico, and South Korea support the model predictions.
DOI: 10.5519/qd.doypun4s
title: Query on the Natural History Museum Data Portal (data.nhm.ac.uk) (1 records)
DOI: 10.3886/e116125
title: Replication data for: All for One? Family Size and Children's Educational Distribution under Credit Constraints

description: This paper examines the possibility that a child's years of schooling could increase in the number of siblings, instead of being diminished by competition for parents' resources: if unable to finance the education of their younger children, parents may do so through their older children's labor income. We examine this possibility in a model combining convex returns to education and credit constraints. Our model predicts correlations among family size, years of schooling and birth order, which would not exist when either of these two elements is absent. Empirical patterns shown in the United States, Mexico, and South Korea support the model predictions.
DOI: 10.3886/e116126
title: Replication data for: Who Is (More) Rational?

description: Revealed preference theory offers a criterion for decision-making quality: if decisions are high quality then there exists a utility function the choices maximize. We conduct a large-scale experiment to test for consistency with utility maximization. Consistency scores vary markedly within and across socioeconomic groups. In particular, consistency is strongly related to wealth: a standard deviation increase in consistency is associated with 15-19 percent more household wealth. This association is quantitatively robust to conditioning on correlates of unobserved constraints, preferences, and beliefs. Consistency with utility maximization under laboratory conditions thus captures decision-making ability that applies across domains and influences important real-world outcomes.
DOI: 10.3886/e116126v1
title: Replication data for: Who Is (More) Rational?

description: Revealed preference theory offers a criterion for decision-making quality: if decisions are high quality then there exists a utility function the choices maximize. We conduct a large-scale experiment to test for consistency with utility maximization. Consistency scores vary markedly within and across socioeconomic groups. In particular, consistency is strongly related to wealth: a standard deviation increase in consistency is associated with 15-19 percent more household wealth. This association is quantitatively robust to conditioning on correlates of unobserved constraints, preferences, and beliefs. Consistency with utility maximization under laboratory conditions thus captures decision-making ability that applies across domains and influences important real-world outcomes.
DOI: 10.3886/e116144v1
title: Replication data for: University Differences in the Graduation of Minorities in STEM Fields: Evidence from California

description: We examine differences in minority science graduation rates among University of California campuses when racial preferences were in place. Less prepared minorities at higher ranked campuses had lower persistence rates in science and took longer to graduate. We estimate a model of students' college major choice where net returns of a science major differ across campuses and student preparation. We find less prepared minority students at top ranked campuses would have higher science graduation rates had they attended lower ranked campuses. Better matching of science students to universities by preparation and providing information about students' prospects in different major-university combinations could increase minority science graduation. (JEL D14, E23, E32, E43, E52, E61, E62)
DOI: 10.3886/e116144
title: Replication data for: University Differences in the Graduation of Minorities in STEM Fields: Evidence from California

description: We examine differences in minority science graduation rates among University of California campuses when racial preferences were in place. Less prepared minorities at higher ranked campuses had lower persistence rates in science and took longer to graduate. We estimate a model of students' college major choice where net returns of a science major differ across campuses and student preparation. We find less prepared minority students at top ranked campuses would have higher science graduation rates had they attended lower ranked campuses. Better matching of science students to universities by preparation and providing information about students' prospects in different major-university combinations could increase minority science graduation. (JEL D14, E23, E32, E43, E52, E61, E62)
DOI: 10.6073/pasta/8a2cb66878fd41ab48af98873adb561f
title: McMurdo Dry Valleys LTER: Glacier snow and ice mass changes in the McMurdo Dry Valleys, Antarctica from 1993 to present

description: As part of the Long Term Ecological Research (LTER) project in the McMurdo Dry Valleys of Antarctica, a systematic sampling program has been undertaken to monitor glacial mass balance and meltwater flow. This data package includes mass balance changes at each stake on six glaciers (Canada, Commonwealth, Hughes, Suess, Howard, and Taylor) in Taylor Valley and one glacier (Adams) in Miers Valley, all of which are located in the McMurdo Dry Valleys of Antarctica. The values are the result of an analysis of the raw data presented in other data files (glacier stake heights, snow depths, and glacier snow densities). Included here for each stake are the change in ice and snow water equivalent (mass) values, and the total mass change. The standard deviation or the range for each total is also given. Most measurements began during the 93-94 field season. Adams measurements were established during the 14-15 field season. Measurements are ongoing except at Hughes and Suess Glaciers where monitoring ceased following the 08-09 field season. Monitoring the changes in these measurements over time provides a record of mass balance, and aids in determining the role of glaciers in the polar hydrologic cycle.
DOI: 10.3886/e116127
title: Replication data for: The Effect of Uncertainty on Investment: Evidence from Texas Oil Drilling

description: This paper estimates the response of investment to changes in uncertainty using data on oil drilling in Texas and the expected volatility of the future price of oil. Using a dynamic model of firms' investment problem, I find that: (1) the response of drilling activity to changes in price volatility has a magnitude consistent with the optimal response prescribed by theory, (2) the cost of failing to respond to volatility shocks is economically significant, and (3) implied volatility data derived from futures options prices yields a better fit to firms' investment behavior than backward-looking volatility measures such as GARCH.
DOI: 10.3886/e116127v1
title: Replication data for: The Effect of Uncertainty on Investment: Evidence from Texas Oil Drilling

description: This paper estimates the response of investment to changes in uncertainty using data on oil drilling in Texas and the expected volatility of the future price of oil. Using a dynamic model of firms' investment problem, I find that: (1) the response of drilling activity to changes in price volatility has a magnitude consistent with the optimal response prescribed by theory, (2) the cost of failing to respond to volatility shocks is economically significant, and (3) implied volatility data derived from futures options prices yields a better fit to firms' investment behavior than backward-looking volatility measures such as GARCH.
DOI: 10.3886/e116128v1
title: Replication data for: Patent Laws, Product Life-Cycle Lengths, and Multinational Activity

description: Do intellectual property rights influence multinationals' manufacturing location decisions? My theoretical model indicates that countries with strong patent laws attract multinational activity, but only in sectors with relatively long product life cycles. By contrast, firms with short life-cycle technologies are insensitive, because offshore imitation is less likely to succeed before obsolescence. I document strong empirical regularities consistent with the model using a panel dataset on the global operations of US-based multinational firms and a new measure of product obsolescence. Moreover, my identification strategy allows me to isolate the causal effect of patent laws on multinational activity.
DOI: 10.3886/e116128
title: Replication data for: Patent Laws, Product Life-Cycle Lengths, and Multinational Activity

description: Do intellectual property rights influence multinationals' manufacturing location decisions? My theoretical model indicates that countries with strong patent laws attract multinational activity, but only in sectors with relatively long product life cycles. By contrast, firms with short life-cycle technologies are insensitive, because offshore imitation is less likely to succeed before obsolescence. I document strong empirical regularities consistent with the model using a panel dataset on the global operations of US-based multinational firms and a new measure of product obsolescence. Moreover, my identification strategy allows me to isolate the causal effect of patent laws on multinational activity.
DOI: 10.3886/e116129v1
title: Replication data for: Wall Street and the Housing Bubble

description: We analyze whether mid-level managers in securitized finance were aware of a large-scale housing bubble and a looming crisis in 2004-2006 using their personal home transaction data. We find that the average person in our sample neither timed the market nor were cautious in their home transactions, and did not exhibit awareness of problems in overall housing markets. Certain groups of securitization agents were particularly aggressive in increasing their exposure to housing during this period, suggesting the need to expand the incentives-based view of the crisis to incorporate a role for beliefs.
DOI: 10.3886/e116130v1
title: Replication data for: Mortgage Modification and Strategic Behavior: Evidence from a Legal Settlement with Countrywide

description: We investigate whether homeowners respond strategically to news of mortgage modification programs. We exploit plausibly exogenous variation in modification policy induced by settlement of U.S. state government lawsuits against Countrywide Financial Corporation, which agreed to offer modifications to seriously delinquent borrowers. Using a difference-in-difference framework, we find that Countrywide's monthly delinquency rate increased more than 0.54 percentage points—a ten percent relative increase—immediately after the settlement's announcement. The estimated increase in default rates is largest among borrowers least likely to default otherwise. These results suggest that strategic behavior should be an important consideration in designing mortgage modification programs. (JEL D10, G21, G33, K00)
DOI: 10.3886/e116145v1
title: Replication data for: Thar SHE Blows? Gender, Competition, and Bubbles in Experimental Asset Markets

description: Do women and men behave differently in financial asset markets? Our results from an asset market experiment show a marked gender difference in producing speculative price bubbles. Mixed markets show intermediate values, and a meta-analysis of 35 markets from different studies confirms the inverse relationship between the magnitude of price bubbles and the frequency of female traders in the market. Women's price forecasts also are significantly lower, even in the first period. Implications for financial markets and experimental methodology are discussed. (JEL D14, D81, G01, G11, J16)
DOI: 10.3886/e116129
title: Replication data for: Wall Street and the Housing Bubble

description: We analyze whether mid-level managers in securitized finance were aware of a large-scale housing bubble and a looming crisis in 2004-2006 using their personal home transaction data. We find that the average person in our sample neither timed the market nor were cautious in their home transactions, and did not exhibit awareness of problems in overall housing markets. Certain groups of securitization agents were particularly aggressive in increasing their exposure to housing during this period, suggesting the need to expand the incentives-based view of the crisis to incorporate a role for beliefs.
DOI: 10.3886/e116145
title: Replication data for: Thar SHE Blows? Gender, Competition, and Bubbles in Experimental Asset Markets

description: Do women and men behave differently in financial asset markets? Our results from an asset market experiment show a marked gender difference in producing speculative price bubbles. Mixed markets show intermediate values, and a meta-analysis of 35 markets from different studies confirms the inverse relationship between the magnitude of price bubbles and the frequency of female traders in the market. Women's price forecasts also are significantly lower, even in the first period. Implications for financial markets and experimental methodology are discussed. (JEL D14, D81, G01, G11, J16)
DOI: 10.3886/e116130
title: Replication data for: Mortgage Modification and Strategic Behavior: Evidence from a Legal Settlement with Countrywide

description: We investigate whether homeowners respond strategically to news of mortgage modification programs. We exploit plausibly exogenous variation in modification policy induced by settlement of U.S. state government lawsuits against Countrywide Financial Corporation, which agreed to offer modifications to seriously delinquent borrowers. Using a difference-in-difference framework, we find that Countrywide's monthly delinquency rate increased more than 0.54 percentage points—a ten percent relative increase—immediately after the settlement's announcement. The estimated increase in default rates is largest among borrowers least likely to default otherwise. These results suggest that strategic behavior should be an important consideration in designing mortgage modification programs. (JEL D10, G21, G33, K00)