cometadata/datacite-titles-descriptions-related-identifiers huggingface dataset:
DOI: 10.3886/e113084
title: Replication data for: Microeconomic Origins of Macroeconomic Tail Risks

description: Using a multisector general equilibrium model, we show that the interplay of idiosyncratic microeconomic shocks and sectoral heterogeneity results in systematic departures in the likelihood of large economic downturns relative to what is implied by the normal distribution. Such departures can emerge even though GDP fluctuations are approximately normally distributed away from the tails, highlighting the different nature of large economic downturns from regular business-cycle fluctuations. We further demonstrate the special role of input-output linkages in generating tail comovements, whereby large recessions involve not only significant GDP contractions, but also large simultaneous declines across a wide range of industries.
DOI: 10.3886/e113084v1
title: Replication data for: Microeconomic Origins of Macroeconomic Tail Risks

description: Using a multisector general equilibrium model, we show that the interplay of idiosyncratic microeconomic shocks and sectoral heterogeneity results in systematic departures in the likelihood of large economic downturns relative to what is implied by the normal distribution. Such departures can emerge even though GDP fluctuations are approximately normally distributed away from the tails, highlighting the different nature of large economic downturns from regular business-cycle fluctuations. We further demonstrate the special role of input-output linkages in generating tail comovements, whereby large recessions involve not only significant GDP contractions, but also large simultaneous declines across a wide range of industries.
DOI: 10.3886/e113085
title: Replication data for: Taxing Top CEO Incomes

description: We use a firm-CEO assignment framework to model the market for CEO effective labor. In the model's equilibrium, more talented CEOs match with and supply more effort to larger firms. Taxation of CEO incomes affects the equilibrium pricing of CEO effective labor and, hence, spills over and affects firm profits. Absent the ability to tax profits or a direct concern for firm owners, a standard prescription for high marginal income taxes emerges. However, given such an ability or concern, the optimal marginal tax rates are much lower.
DOI: 10.3886/e113085v1
title: Replication data for: Taxing Top CEO Incomes

description: We use a firm-CEO assignment framework to model the market for CEO effective labor. In the model's equilibrium, more talented CEOs match with and supply more effort to larger firms. Taxation of CEO incomes affects the equilibrium pricing of CEO effective labor and, hence, spills over and affects firm profits. Absent the ability to tax profits or a direct concern for firm owners, a standard prescription for high marginal income taxes emerges. However, given such an ability or concern, the optimal marginal tax rates are much lower.
DOI: 10.3886/e113305
title: Replication data for: Optimal Sticky Prices under Rational Inattention

description: This paper presents a model in which price setting firms decide what to pay attention to, subject to a constraint on information flow. When idiosyncratic conditions are more variable or more important than aggregate conditions, firms pay more attention to idiosyncratic conditions than to aggregate conditions. When we calibrate the model to match the large average absolute size of price changes observed in micro data, prices react fast and by large amounts to idiosyncratic shocks, but only slowly and by small amounts to nominal shocks. Nominal shocks have strong and persistent real effects. (JEL D21, D83, E31, E52)
DOI: 10.3886/e113305v1
title: Replication data for: Optimal Sticky Prices under Rational Inattention

description: This paper presents a model in which price setting firms decide what to pay attention to, subject to a constraint on information flow. When idiosyncratic conditions are more variable or more important than aggregate conditions, firms pay more attention to idiosyncratic conditions than to aggregate conditions. When we calibrate the model to match the large average absolute size of price changes observed in micro data, prices react fast and by large amounts to idiosyncratic shocks, but only slowly and by small amounts to nominal shocks. Nominal shocks have strong and persistent real effects. (JEL D21, D83, E31, E52)
DOI: 10.3886/e113306
title: Replication data for: The Young, the Old, and the Restless: Demographics and Business Cycle Volatility

description: We investigate the consequences of demographic change for business cycle analysis. We find that changes in the age composition of the labor force account for a significant fraction of the variation in cyclical volatility observed in the G7. Since World War II, these countries have experienced dramatic demographic changes, although details regarding timing and nature differ across countries. We exploit this variation to show that the workforce age composition has a large and significant effect on cyclical volatility. We relate our results to the recent decline in US macroeconomic volatility, finding that demographic change accounts for approximately one-fifth to one-third of this moderation. (JEL E32, J11)
DOI: 10.3886/e113306v1
title: Replication data for: The Young, the Old, and the Restless: Demographics and Business Cycle Volatility

description: We investigate the consequences of demographic change for business cycle analysis. We find that changes in the age composition of the labor force account for a significant fraction of the variation in cyclical volatility observed in the G7. Since World War II, these countries have experienced dramatic demographic changes, although details regarding timing and nature differ across countries. We exploit this variation to show that the workforce age composition has a large and significant effect on cyclical volatility. We relate our results to the recent decline in US macroeconomic volatility, finding that demographic change accounts for approximately one-fifth to one-third of this moderation. (JEL E32, J11)
DOI: 10.3886/e113307v1
title: Replication data for: Tricks with Hicks: The EASI Demand System

description: We invent Implicit Marshallian demands, which combine desirable features of Hicksian and Marshallian demands. We propose and estimate the Exact Affine Stone Index (EASI) implicit Marshallian demand system. Like the Almost Ideal Demand (AID) system, EASI budget shares are linear in parameters given real expenditures. However, unlike the AID, EASI demands can have any rank and its Engel curves can have any shape over real expenditures. EASI error terms equal random utility parameters to account for unobserved preference heterogeneity. EASI demand functions can be estimated using GMM or three stage least squares, and, like AID, an approximate EASI model can be estimated by linear regression. (JEL D11, D12)
DOI: 10.3886/e113308
title: Replication data for: Observational Learning: Evidence from a Randomized Natural Field Experiment

description: We report results from a randomized natural field experiment conducted in a restaurant dining setting to distinguish the observational learning effect from the saliency effect. We find that, when customers are given ranking information of the five most popular dishes, the demand for those dishes increases by 13 to 20 percent. We do not find a significant saliency effect. We also find modest evidence that the observational learning effects are stronger among infrequent customers, and that dining satisfaction is increased when customers are presented with the information of the top five dishes, but not when presented with only names of some sample dishes. (JEL C93, D83)
DOI: 10.3886/e113308v1
title: Replication data for: Observational Learning: Evidence from a Randomized Natural Field Experiment

description: We report results from a randomized natural field experiment conducted in a restaurant dining setting to distinguish the observational learning effect from the saliency effect. We find that, when customers are given ranking information of the five most popular dishes, the demand for those dishes increases by 13 to 20 percent. We do not find a significant saliency effect. We also find modest evidence that the observational learning effects are stronger among infrequent customers, and that dining satisfaction is increased when customers are presented with the information of the top five dishes, but not when presented with only names of some sample dishes. (JEL C93, D83)
DOI: 10.3886/e113569v1
title: Replication data for: To Work or Not to Work? Child Development and Maternal Labor Supply

description: We estimate the effect of early child development on maternal labor force participation. Mothers of poorly developing children may remain at home to care for their children. Alternatively, mothers may enter the labor force to pay for additional educational and health resources. Which action dominates is the empirical question we answer in this paper. We control for the potential endogeneity of child development by using an instrumental variables approach, uniquely exploiting exogenous variation in child development associated with child handedness. We find that a one unit increase in poor child development decreases maternal labor force participation by approximately 10 percentage points. (JEL J13, J16, J22)
DOI: 10.3886/e113570
title: Replication data for: Consumption Responses to In-Kind Transfers: Evidence from the Introduction of the Food Stamp Program

description: Economists have strong theoretical predictions about how in-kind transfers, such as providing vouchers for food, impact consumption. Despite the prominence of the theory, there is little empirical work on responses to in-kind transfers, and most existing work fails to support the canonical theoretical model. We employ difference-indifference methods to estimate the impact of program introduction on food spending. Consistent with predictions, we find that food stamps reduce out-of-pocket food spending and increase overall food expenditures. We also find that households are inframarginal and respond similarly to one dollar in cash income and one dollar in food stamps. (JEL D12, H23, I38)
DOI: 10.3886/e113570v1
title: Replication data for: Consumption Responses to In-Kind Transfers: Evidence from the Introduction of the Food Stamp Program

description: Economists have strong theoretical predictions about how in-kind transfers, such as providing vouchers for food, impact consumption. Despite the prominence of the theory, there is little empirical work on responses to in-kind transfers, and most existing work fails to support the canonical theoretical model. We employ difference-indifference methods to estimate the impact of program introduction on food spending. Consistent with predictions, we find that food stamps reduce out-of-pocket food spending and increase overall food expenditures. We also find that households are inframarginal and respond similarly to one dollar in cash income and one dollar in food stamps. (JEL D12, H23, I38)
DOI: 10.3886/e113571
title: Replication data for: Iodine Deficiency and Schooling Attainment in Tanzania

description: Cognitive damage from iodine deficiency disorders (IDD) has important implications for economic growth through its effect on human capital. To gauge the magnitude of this influence, we evaluate the impact on schooling of reductions in IDD from intensive iodine supplementation in Tanzania. Our findings suggest a large effect of in utero iodine on cognition and human capital: treated children attain an estimated 0.35-0.56 years of additional schooling relative to siblings and older and younger peers. Furthermore, the effect appears to be substantially larger for girls, consistent with laboratory evidence indicating greater cognitive sensitivity of female fetuses to maternal thyroid deprivation. (JEL I12, I21, J16, O15)
DOI: 10.3886/e113571v1
title: Replication data for: Iodine Deficiency and Schooling Attainment in Tanzania

description: Cognitive damage from iodine deficiency disorders (IDD) has important implications for economic growth through its effect on human capital. To gauge the magnitude of this influence, we evaluate the impact on schooling of reductions in IDD from intensive iodine supplementation in Tanzania. Our findings suggest a large effect of in utero iodine on cognition and human capital: treated children attain an estimated 0.35-0.56 years of additional schooling relative to siblings and older and younger peers. Furthermore, the effect appears to be substantially larger for girls, consistent with laboratory evidence indicating greater cognitive sensitivity of female fetuses to maternal thyroid deprivation. (JEL I12, I21, J16, O15)
DOI: 10.3886/e113833
title: Replication data for: The Power of Political Voice: Women's Political Representation and Crime in India

description: Using state-level variation in the timing of political reforms, we find that an increase in female representation in local government induces a large and significant rise in documented crimes against women in India. Our evidence suggests that this increase is good news, driven primarily by greater reporting rather than greater incidence of such crimes. In contrast, we find no increase in crimes against men or in gender-neutral crimes. We also examine the effectiveness of alternative forms of political representation. Large scale membership of women in local councils affects crime against them more than their presence in higher-level leadership positions. (JEL D72, J16, K42, O15, O17)
DOI: 10.3886/e113834v1
title: Replication data for: Deregulation, Consolidation, and Efficiency: Evidence from US Nuclear Power

description: Beginning in the late 1990s, electricity markets in many US states were deregulated, and almost half of the nation's 103 nuclear power reactors were sold to independent power producers. Deregulation has been accompanied by substantial market consolidation, and today the three largest companies control one-third of US nuclear capacity. We find that deregulation and consolidation are associated with a 10 percent increase in operating performance, achieved primarily by reducing the duration of reactor outages. At average wholesale prices, this increased operating performance is worth $2.5 billion annually and implies an annual decrease of 35 million tons of carbon dioxide emissions. (JEL L11, L51, L94, L98, Q42, Q48)
DOI: 10.3886/e113835v1
title: Replication data for: Soap Operas and Fertility: Evidence from Brazil

description: We estimate the effect of television on fertility in Brazil, where soap operas portray small families. We exploit differences in the timing of entry into different markets of Globo, the main novela producer. Women living in areas covered by Globo have significantly lower fertility. The effect is strongest for women of lower socioeconomic status and in the central and late phases of fertility, consistent with stopping behavior. The result does not appear to be driven by selection in Globo entry. We provide evidence that novelas, and not just television, affected individual choices, based on children's naming patterns and novela content. (JEL J13, J16, L82, O15, Z13)
DOI: 10.3886/e113836
title: Replication data for: Access, Sorting, and Achievement: The Short-Run Effects of Free Primary Education in Kenya

description: We examine the impact of the Kenyan Free Primary Education program on student participation, sorting, and achievement on the primary school exit examination. Exploiting variation in pre-program dropout rates between districts, we find that the program increased the number of students who completed primary school, spurred private school entry, and increased access for students from disadvantaged backgrounds. We argue that the program was welfare enhancing as it promoted educational access without substantially reducing the test scores of students who would have been in school in the absence of the program. (JEL H52, I21, I28, O15)
DOI: 10.3886/e113836v1
title: Replication data for: Access, Sorting, and Achievement: The Short-Run Effects of Free Primary Education in Kenya

description: We examine the impact of the Kenyan Free Primary Education program on student participation, sorting, and achievement on the primary school exit examination. Exploiting variation in pre-program dropout rates between districts, we find that the program increased the number of students who completed primary school, spurred private school entry, and increased access for students from disadvantaged backgrounds. We argue that the program was welfare enhancing as it promoted educational access without substantially reducing the test scores of students who would have been in school in the absence of the program. (JEL H52, I21, I28, O15)
DOI: 10.3886/e113086
title: Replication data for: Does Welfare Inhibit Success? The Long-Term Effects of Removing Low-Income Youth from the Disability Rolls

description: I estimate the effects of removing low-income youth with disabilities from Supplemental Security Income (SSI) on their earnings and income in adulthood. Using a regression discontinuity design based on a 1996 policy change in age 18 medical reviews, I find that youth who are removed from SSI at age 18 recover one-third of the lost SSI cash income in earnings. SSI youth who are removed and stay off SSI earn on average $4,400 annually, and they lose $76,000 in present discounted observed income over the 16 years following removal relative to those who do not receive a review.
DOI: 10.3886/e113086v1
title: Replication data for: Does Welfare Inhibit Success? The Long-Term Effects of Removing Low-Income Youth from the Disability Rolls

description: I estimate the effects of removing low-income youth with disabilities from Supplemental Security Income (SSI) on their earnings and income in adulthood. Using a regression discontinuity design based on a 1996 policy change in age 18 medical reviews, I find that youth who are removed from SSI at age 18 recover one-third of the lost SSI cash income in earnings. SSI youth who are removed and stay off SSI earn on average $4,400 annually, and they lose $76,000 in present discounted observed income over the 16 years following removal relative to those who do not receive a review.
DOI: 10.3886/e113087
title: Replication data for: Quality and Accountability in Health Care Delivery: Audit-Study Evidence from Primary Care in India

description: We present unique audit-study evidence on health care quality in rural India, and find that most private providers lacked medical qualifications, but completed more checklist items than public providers and recommended correct treatments equally often. Among doctors with public and private practices, all quality metrics were higher in their private clinics. Market prices are positively correlated with checklist completion and correct treatment, but also with unnecessary treatments. However, public sector salaries are uncorrelated with quality. A simple model helps interpret our findings: Where public-sector effort is low, the benefits of higher diagnostic effort among private providers may outweigh costs of potential overtreatment.
DOI: 10.3886/e113087v1
title: Replication data for: Quality and Accountability in Health Care Delivery: Audit-Study Evidence from Primary Care in India

description: We present unique audit-study evidence on health care quality in rural India, and find that most private providers lacked medical qualifications, but completed more checklist items than public providers and recommended correct treatments equally often. Among doctors with public and private practices, all quality metrics were higher in their private clinics. Market prices are positively correlated with checklist completion and correct treatment, but also with unnecessary treatments. However, public sector salaries are uncorrelated with quality. A simple model helps interpret our findings: Where public-sector effort is low, the benefits of higher diagnostic effort among private providers may outweigh costs of potential overtreatment.
DOI: 10.3886/e113088
title: Replication data for: Quality Overprovision in Cable Television Markets

description: We measure the welfare distortions from endogenous quality choice in imperfectly competitive markets. For US cable television markets between 1997–2006, prices are 33 percent to 74 percent higher and qualities 23 percent to 55 percent higher than socially optimal. Such quality overprovision contradicts classic results in the literature and our analysis shows that it results from the presence of competition from high-end satellite TV providers: without the competitive pressure from satellite companies, cable TV monopolists would instead engage in quality degradation. For welfare, quality overprovision implies cable customers would prefer smaller, lower-quality cable bundles at a lower price, amounting to a twofold increase in consumer surplus for the average consumer.
DOI: 10.3886/e113088v1
title: Replication data for: Quality Overprovision in Cable Television Markets

description: We measure the welfare distortions from endogenous quality choice in imperfectly competitive markets. For US cable television markets between 1997–2006, prices are 33 percent to 74 percent higher and qualities 23 percent to 55 percent higher than socially optimal. Such quality overprovision contradicts classic results in the literature and our analysis shows that it results from the presence of competition from high-end satellite TV providers: without the competitive pressure from satellite companies, cable TV monopolists would instead engage in quality degradation. For welfare, quality overprovision implies cable customers would prefer smaller, lower-quality cable bundles at a lower price, amounting to a twofold increase in consumer surplus for the average consumer.
DOI: 10.3886/e113089
title: Replication data for: Team-Specific Capital and Innovation

description: We establish the importance of team-specific capital in the typical inventor's career. Using administrative tax and patent data for the population of US patent inventors from 1996 to 2012, we find that an inventor's premature death causes a large and long-lasting decline in their co-inventor's earnings and citation-weighted patents (–4 percent and –15 percent after 8 years, respectively). After ruling out firm disruption, network effects, and top-down spillovers as main channels, we show that the effect is driven by close-knit teams and that team-specific capital largely results from an "experience" component increasing collaboration value over time.
DOI: 10.3886/e113089v1
title: Replication data for: Team-Specific Capital and Innovation

description: We establish the importance of team-specific capital in the typical inventor's career. Using administrative tax and patent data for the population of US patent inventors from 1996 to 2012, we find that an inventor's premature death causes a large and long-lasting decline in their co-inventor's earnings and citation-weighted patents (–4 percent and –15 percent after 8 years, respectively). After ruling out firm disruption, network effects, and top-down spillovers as main channels, we show that the effect is driven by close-knit teams and that team-specific capital largely results from an "experience" component increasing collaboration value over time.
DOI: 10.3886/e113090v1
title: Replication data for: Virtual Classrooms: How Online College Courses Affect Student Success

description: Online college courses are a rapidly expanding feature of higher education, yet little research identifies their effects relative to traditional in-person classes. Using an instrumental variables approach, we find that taking a course online, instead of in-person, reduces student success and progress in college. Grades are lower both for the course taken online and in future courses. Students are less likely to remain enrolled at the university. These estimates are local average treatment effects for students with access to both online and in-person options; for other students, online classes may be the only option for accessing college-level courses.