cometadata/datacite-titles-descriptions-related-identifiers huggingface dataset:
DOI: 10.3886/e113166v1
title: Replication data for: Do Recessions Accelerate Routine-Biased Technological Change? Evidence from Vacancy Postings

description: We show that skill requirements in job vacancy postings differentially increased in MSAs that were hit hard by the Great Recession, relative to less hard-hit areas. These increases persist through at least the end of 2015 and are correlated with increases in capital investments, both at the MSA and firm levels. We also find that effects are most pronounced in routine-cognitive occupations, which exhibit relative wage growth as well. We argue that this evidence is consistent with the restructuring of production toward routine-biased technologies and the more-skilled workers that complement them, and that the Great Recession accelerated this process.
DOI: 10.3886/e112638
title: Replication data for: Subjective Well-Being and Income: Is There Any Evidence of Satiation?

description: Many scholars have argued that once "basic needs" have been met, further rises in income are not associated with further increases in subjective well-being. We assess the validity of this claim in comparisons of both rich and poor countries, and also of rich and poor people within a country. Analyzing multiple datasets, multiple definitions of "basic needs" and multiple questions about well-being, we find no support for this claim. The relationship between well-being and income is roughly log-linear and does not diminish as incomes rise. If there is a satiation point, we are yet to reach it.
DOI: 10.3886/e112638v1
title: Replication data for: Subjective Well-Being and Income: Is There Any Evidence of Satiation?

description: Many scholars have argued that once "basic needs" have been met, further rises in income are not associated with further increases in subjective well-being. We assess the validity of this claim in comparisons of both rich and poor countries, and also of rich and poor people within a country. Analyzing multiple datasets, multiple definitions of "basic needs" and multiple questions about well-being, we find no support for this claim. The relationship between well-being and income is roughly log-linear and does not diminish as incomes rise. If there is a satiation point, we are yet to reach it.
DOI: 10.3886/e112639
title: Replication data for: Not Just the Great Contraction: Friedman and Schwartz's A Monetary History of the United States 1867 to 1960

description: Milton Friedman and Anna J. Schwartz published A Monetary History of the United States: 1867 to 1960 with Princeton University Press in 1963, to critical acclaim. Since then the book's reputation has grown and it clearly has become one of the most influential volumes in economics in the twentieth century. In this paper we document the extraordinary impact of A Monetary History and argue that the key to this success was the use of the "narrative approach" to the problem of identifying the effects of monetary policy on economic activity.
DOI: 10.3886/e112639v1
title: Replication data for: Not Just the Great Contraction: Friedman and Schwartz's A Monetary History of the United States 1867 to 1960

description: Milton Friedman and Anna J. Schwartz published A Monetary History of the United States: 1867 to 1960 with Princeton University Press in 1963, to critical acclaim. Since then the book's reputation has grown and it clearly has become one of the most influential volumes in economics in the twentieth century. In this paper we document the extraordinary impact of A Monetary History and argue that the key to this success was the use of the "narrative approach" to the problem of identifying the effects of monetary policy on economic activity.
DOI: 10.3886/e112640v1
title: Replication data for: Course Requirements for Bachelor's Degrees in Economics

description: We conducted a national survey of department Chairs to investigate whether departments of economics changed course requirements for bachelors degrees since the Siegfried and Bidani (1992) paper using 1980 data. There have been few changes to course requirements. Most notable are a large increase in the number of departments requiring econometrics and a drop in departments requiring courses such as money, banking and economic history--courses once required in many business schools.
DOI: 10.3886/e112707
title: Replication data for: The Network Structure of International Trade

description: Motivated by empirical evidence I uncover on the dynamics of French firms exports, I offer a novel theory of trade frictions. Firms only export into markets where they have a contact. They directly search for new trading partners, but also use their existing network of contacts to remotely search for new partners. I characterize the dynamic formation of an international network of exporters in this model. I structurally estimate this model on French data and confirm its predictions regarding the distribution of the number of foreign markets accessed by exporters and the geographic distribution of exports.
DOI: 10.3886/e112707v1
title: Replication data for: The Network Structure of International Trade

description: Motivated by empirical evidence I uncover on the dynamics of French firms exports, I offer a novel theory of trade frictions. Firms only export into markets where they have a contact. They directly search for new trading partners, but also use their existing network of contacts to remotely search for new partners. I characterize the dynamic formation of an international network of exporters in this model. I structurally estimate this model on French data and confirm its predictions regarding the distribution of the number of foreign markets accessed by exporters and the geographic distribution of exports.
DOI: 10.3886/e112708
title: Replication data for: Structural Transformation, the Mismeasurement of Productivity Growth, and the Cost Disease of Services

description: If workers self-select into industries based upon their relative productivity in different tasks, and comparative advantage is aligned with absolute advantage, then the average efficacy of a sector's workforce will be negatively correlated with its employment share. This might explain the difference in the reported productivity growth of contracting goods and expanding services. Instrumenting with defense expenditures, I find the elasticity of worker efficacy with respect to employment shares is substantially negative, albeit imprecisely estimated. The estimates suggest that the view that goods and services have similar productivity growth rates is a plausible alternative characterization of growth in developed economies.
DOI: 10.3886/e112708v1
title: Replication data for: Structural Transformation, the Mismeasurement of Productivity Growth, and the Cost Disease of Services

description: If workers self-select into industries based upon their relative productivity in different tasks, and comparative advantage is aligned with absolute advantage, then the average efficacy of a sector's workforce will be negatively correlated with its employment share. This might explain the difference in the reported productivity growth of contracting goods and expanding services. Instrumenting with defense expenditures, I find the elasticity of worker efficacy with respect to employment shares is substantially negative, albeit imprecisely estimated. The estimates suggest that the view that goods and services have similar productivity growth rates is a plausible alternative characterization of growth in developed economies.
DOI: 10.3886/e112941
title: Replication data for: How Local Are Labor Markets? Evidence from a Spatial Job Search Model

description: This paper models the optimal search strategies of the unemployed across space to characterize local labor markets. Our methodology allows for linkages between numerous areas, while preserving tractability. We estimate that labor markets are quite local, as the attractiveness of jobs to applicants sharply decays with distance. Also, workers are discouraged from searching in areas with strong competition from other job-seekers. However, as labor markets overlap, a local stimulus or transport improvements have modest effects on local outcomes, because ripple effects in job applications dilute their impact across a series of overlapping markets.
DOI: 10.3886/e112941v1
title: Replication data for: How Local Are Labor Markets? Evidence from a Spatial Job Search Model

description: This paper models the optimal search strategies of the unemployed across space to characterize local labor markets. Our methodology allows for linkages between numerous areas, while preserving tractability. We estimate that labor markets are quite local, as the attractiveness of jobs to applicants sharply decays with distance. Also, workers are discouraged from searching in areas with strong competition from other job-seekers. However, as labor markets overlap, a local stimulus or transport improvements have modest effects on local outcomes, because ripple effects in job applications dilute their impact across a series of overlapping markets.
DOI: 10.3886/e113167
title: Replication data for: Family Ruptures, Stress, and the Mental Health of the Next Generation: Reply

description: Persson and Rossin-Slater (2018) find that prenatal exposure to family ruptures affects childhood and adult mental health, as well as infant physical health. We compare children whose relatives die within 280 days post-conception to children whose relatives die in the year after birth. Matsumoto correctly notes that defining the control group using actual birth dates can bias our estimates. Here, we redefine our control group using expected birth dates. The effects on mental health in childhood and adulthood are statistically indistinguishable from those in our original paper. The infant health impacts are attenuated, but statistically significant in our main specifications.
DOI: 10.3886/e113167v1
title: Replication data for: Family Ruptures, Stress, and the Mental Health of the Next Generation: Reply

description: Persson and Rossin-Slater (2018) find that prenatal exposure to family ruptures affects childhood and adult mental health, as well as infant physical health. We compare children whose relatives die within 280 days post-conception to children whose relatives die in the year after birth. Matsumoto correctly notes that defining the control group using actual birth dates can bias our estimates. Here, we redefine our control group using expected birth dates. The effects on mental health in childhood and adulthood are statistically indistinguishable from those in our original paper. The infant health impacts are attenuated, but statistically significant in our main specifications.
DOI: 10.3886/e113168
title: Replication data for: Narrative Sign Restrictions for SVARs

description: We identify structural vector autoregressions using narrative sign restrictions. Narrative sign restrictions constrain the structural shocks and/or the historical decomposition around key historical events, ensuring that they agree with the established narrative account of these episodes. Using models of the oil market and monetary policy, we show that narrative sign restrictions tend to be highly informative. Even a single narrative sign restriction may dramatically sharpen and even change the inference of SVARs originally identified via traditional sign restrictions. Our approach combines the appeal of narrative methods with the popularized usage of traditional sign restrictions.
DOI: 10.3886/e113168v1
title: Replication data for: Narrative Sign Restrictions for SVARs

description: We identify structural vector autoregressions using narrative sign restrictions. Narrative sign restrictions constrain the structural shocks and/or the historical decomposition around key historical events, ensuring that they agree with the established narrative account of these episodes. Using models of the oil market and monetary policy, we show that narrative sign restrictions tend to be highly informative. Even a single narrative sign restriction may dramatically sharpen and even change the inference of SVARs originally identified via traditional sign restrictions. Our approach combines the appeal of narrative methods with the popularized usage of traditional sign restrictions.
DOI: 10.3886/e112640
title: Replication data for: Course Requirements for Bachelor's Degrees in Economics

description: We conducted a national survey of department Chairs to investigate whether departments of economics changed course requirements for bachelors degrees since the Siegfried and Bidani (1992) paper using 1980 data. There have been few changes to course requirements. Most notable are a large increase in the number of departments requiring econometrics and a drop in departments requiring courses such as money, banking and economic history--courses once required in many business schools.
DOI: 10.3886/e112641
title: Replication data for: Shadowy Banks and Financial Contagion during the Great Depression: A Retrospective on Friedman and Schwartz

description: This essay assesses whether network linkages within the banking system amplified the real effects of bank failures during the Great Contraction. In 1929, nearly all interbank deposits held by Federal Reserve member banks belonged to "shadowy" nonmember banks which were outside the regulatory reach of federal regulators. Regional banking panics in the early 1930s drained these interbank deposits from central reserve city banks. Money-center banks in Chicago and New York responded to volatile and declining interbank deposits by changing their asset composition. They reduced their lending to businesses and individuals, and increased their holdings of cash and government bonds.
DOI: 10.3886/e112641v1
title: Replication data for: Shadowy Banks and Financial Contagion during the Great Depression: A Retrospective on Friedman and Schwartz

description: This essay assesses whether network linkages within the banking system amplified the real effects of bank failures during the Great Contraction. In 1929, nearly all interbank deposits held by Federal Reserve member banks belonged to "shadowy" nonmember banks which were outside the regulatory reach of federal regulators. Regional banking panics in the early 1930s drained these interbank deposits from central reserve city banks. Money-center banks in Chicago and New York responded to volatile and declining interbank deposits by changing their asset composition. They reduced their lending to businesses and individuals, and increased their holdings of cash and government bonds.
DOI: 10.3886/e112642
title: Replication data for: Intergenerational Occupational Mobility in Great Britain and the United States since 1850

description: The US tolerates more inequality than Europe and believes its economic mobility is greater than Europeâ€™s, though they had roughly equal rates of intergenerational occupational mobility in the late twentieth century. We extend this comparison into the nineteenth century using 10,000 nationally-representative British and US fathers and sons. The US was more mobile than Britain through 1900, so in the experience of those who created the US welfare state in the 1930s, the US had indeed been â€œexceptional.â€ The US mobility lead over Britain was erased by the 1950s, as US mobility fell from its nineteenth century levels.
DOI: 10.3886/e112642v1
title: Replication data for: Intergenerational Occupational Mobility in Great Britain and the United States since 1850

description: The US tolerates more inequality than Europe and believes its economic mobility is greater than Europeâ€™s, though they had roughly equal rates of intergenerational occupational mobility in the late twentieth century. We extend this comparison into the nineteenth century using 10,000 nationally-representative British and US fathers and sons. The US was more mobile than Britain through 1900, so in the experience of those who created the US welfare state in the 1930s, the US had indeed been â€œexceptional.â€ The US mobility lead over Britain was erased by the 1950s, as US mobility fell from its nineteenth century levels.
DOI: 10.3886/e112643
title: Replication data for: Unconventional Fiscal Policy at the Zero Bound

description: When the zero lower bound on nominal interest rates binds, monetary policy cannot provide appropriate stimulus. We show that, in the standard New Keynesian model, tax policy can deliver such stimulus at no cost and in a time-consistent manner. There is no need to use inefficient policies such as wasteful public spending or future commitments to low interest rates.
DOI: 10.3886/e112643v1
title: Replication data for: Unconventional Fiscal Policy at the Zero Bound

description: When the zero lower bound on nominal interest rates binds, monetary policy cannot provide appropriate stimulus. We show that, in the standard New Keynesian model, tax policy can deliver such stimulus at no cost and in a time-consistent manner. There is no need to use inefficient policies such as wasteful public spending or future commitments to low interest rates.
DOI: 10.3886/e112644v1
title: Replication data for: The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States

description: This paper estimates the dynamic effects of changes in taxes in the United States. We distinguish between changes in personal and corporate income taxes and develop a new narrative account of federal tax liability changes in these two tax components. We develop an estimator which uses narratively identified tax changes as proxies for structural tax shocks and apply it to quarterly post-WWII data. We find that short run output effects of tax shocks are large and that it is important to distinguish between different types of taxes when considering their impact on the labor market and on expenditure components.
DOI: 10.3886/e112709v1
title: Replication data for: A Quantitative Analysis of the Used-Car Market

description: We quantitatively investigate the allocative and welfare effects of secondary markets for cars. An important source of gains from trade in these markets is the heterogeneity in the willingness to pay for higher-quality (newer) goods, but transaction costs are an impediment to instantaneous trade. Calibration of the model successfully matches several aggregate features of the U.S. and French used-car markets. Counterfactual analyses show that transaction costs have a large effect on volume of trade, allocations, and the primary market. Aggregate effects on consumer surplus and welfare are relatively small, but the effect on lower-valuation households can be large.
DOI: 10.3886/e112942
title: Replication data for: The Value of Democracy: Evidence from Road Building in Kenya

description: Ethnic favoritism is seen as antithetical to development. This paper provides credible quantification of the extent of ethnic favoritism using data on road building in Kenyan districts across the 1963-2011 period. Guided by a model, it then examines whether the transition in and out of democracy under the same president constrains or exacerbates ethnic favoritism. Across the post-independence period, we find strong evidence of ethnic favoritism: districts that share the ethnicity of the president receive twice as much expenditure on roads and have five times the length of paved roads built. This favoritism disappears during periods of democracy. (JEL D72, H54, J15, O15, O17, O22, R42)
DOI: 10.3886/e112942v1
title: Replication data for: The Value of Democracy: Evidence from Road Building in Kenya

description: Ethnic favoritism is seen as antithetical to development. This paper provides credible quantification of the extent of ethnic favoritism using data on road building in Kenyan districts across the 1963-2011 period. Guided by a model, it then examines whether the transition in and out of democracy under the same president constrains or exacerbates ethnic favoritism. Across the post-independence period, we find strong evidence of ethnic favoritism: districts that share the ethnicity of the president receive twice as much expenditure on roads and have five times the length of paved roads built. This favoritism disappears during periods of democracy. (JEL D72, H54, J15, O15, O17, O22, R42)
DOI: 10.3886/e112943
title: Replication data for: Marijuana on Main Street? Estimating Demand in Markets with Limited Access

description: Marijuana is the most common illicit drug with vocal advocates for legalization. Among other things, legalization would increase access and remove the stigma of illegality. Our model disentangles the role of access from preferences and shows that selection into access is not random. We find that traditional demand estimates are biased resulting in incorrect policy conclusions. If marijuana were legalized, those under 30 would see modest increases in use of 28 percent, while on average use would increase by 48 percent (to 19.4 percent). Tax policies are effective at curbing use, where Australia could raise AU$1 billion (and the United States US$12 billion).
DOI: 10.3886/e112943v1
title: Replication data for: Marijuana on Main Street? Estimating Demand in Markets with Limited Access

description: Marijuana is the most common illicit drug with vocal advocates for legalization. Among other things, legalization would increase access and remove the stigma of illegality. Our model disentangles the role of access from preferences and shows that selection into access is not random. We find that traditional demand estimates are biased resulting in incorrect policy conclusions. If marijuana were legalized, those under 30 would see modest increases in use of 28 percent, while on average use would increase by 48 percent (to 19.4 percent). Tax policies are effective at curbing use, where Australia could raise AU$1 billion (and the United States US$12 billion).
DOI: 10.3886/e112944
title: Replication data for: Choice Inconsistencies among the Elderly: Evidence from Plan Choice in the Medicare Part D Program: Comment

description: Consumers' enrollment decisions in Medicare Part D can be explained by Abaluck and Gruber's (2011) model of utility maximization with psychological biases or by a neoclassical version of their model that precludes such biases. We evaluate these competing hypotheses by applying nonparametric tests of utility maximization and model validation tests to administrative data. We find that 79 percent of enrollment decisions from 2006 to 2010 satisfied basic axioms of consumer theory under the assumption of full information. The validation tests provide evidence against widespread psychological biases. In particular, we find that precluding psychological biases improves the structural model's out-of-sample predictions for consumer behavior.
DOI: 10.3886/e112944v1
title: Replication data for: Choice Inconsistencies among the Elderly: Evidence from Plan Choice in the Medicare Part D Program: Comment

description: Consumers' enrollment decisions in Medicare Part D can be explained by Abaluck and Gruber's (2011) model of utility maximization with psychological biases or by a neoclassical version of their model that precludes such biases. We evaluate these competing hypotheses by applying nonparametric tests of utility maximization and model validation tests to administrative data. We find that 79 percent of enrollment decisions from 2006 to 2010 satisfied basic axioms of consumer theory under the assumption of full information. The validation tests provide evidence against widespread psychological biases. In particular, we find that precluding psychological biases improves the structural model's out-of-sample predictions for consumer behavior.