cometadata/datacite-titles-descriptions-related-identifiers huggingface dataset:
DOI: 10.3886/e114546v1
title: Replication data for: Crowded Colleges and College Crowd-Out: The Impact of Public Subsidies on the Two-Year College Market

description: This study assesses the impact of an increase in funding for public community colleges on the market for two-year college education, considering both the effect on community college enrollments and on the number of proprietary schools in a market. I draw on a new administrative dataset of for-profit colleges in California and votes on local community college bond referenda to implement a unique regression discontinuity design. The results suggest that bond passage diverts students from the private to the public sector and causes a corresponding decline in the number of proprietary schools in the market. (JEL H75, I22, I23)
DOI: 10.3886/e114547
title: Replication data for: Tax Sensitivity and Home State Preferences in Internet Purchasing

description: Data on memory modules sales are used to explore aspects of e-retail demand. Aggregate sales are examined in state-level regressions. Discrete choice techniques are used to examine (incomplete) hourly sales data from a price comparison site. We find a strong relationship between e-retail sales to a given state and sales tax rates that apply to purchases from offline retailers, suggesting substantial online-offline substitution and the importance of tax avoidance motives. Geography matters in two ways: consumers prefer purchasing from firms in nearby states and appear to have a separate preference for buying from in-state firms. (JEL D12, H25, H71, L81)
DOI: 10.3886/e114547v1
title: Replication data for: Tax Sensitivity and Home State Preferences in Internet Purchasing

description: Data on memory modules sales are used to explore aspects of e-retail demand. Aggregate sales are examined in state-level regressions. Discrete choice techniques are used to examine (incomplete) hourly sales data from a price comparison site. We find a strong relationship between e-retail sales to a given state and sales tax rates that apply to purchases from offline retailers, suggesting substantial online-offline substitution and the importance of tax avoidance motives. Geography matters in two ways: consumers prefer purchasing from firms in nearby states and appear to have a separate preference for buying from in-state firms. (JEL D12, H25, H71, L81)
DOI: 10.3886/e114548
title: Replication data for: Incomplete Environmental Regulation, Imperfect Competition, and Emissions Leakage

description: Environmental regulation of industrial pollution is often incomplete; regulations apply to only a subset of facilities contributing to a pollution problem. Policymakers are increasingly concerned about the emissions leakage that may occur if unregulated production can be easily substituted for regulated production. This paper analyzes emissions leakage in an incompletely regulated and imperfectly competitive industry. The analytical model is used to simulate outcomes under incomplete, market-based regulation of carbon dioxide emissions in California's electricity sector. Regulation that exempts out-of-state producers achieves approximately one-third of the total emissions reductions achieved under complete regulation at more than twice the cost per ton. (JEL L94, Q53, Q58)
DOI: 10.3886/e114548v1
title: Replication data for: Incomplete Environmental Regulation, Imperfect Competition, and Emissions Leakage

description: Environmental regulation of industrial pollution is often incomplete; regulations apply to only a subset of facilities contributing to a pollution problem. Policymakers are increasingly concerned about the emissions leakage that may occur if unregulated production can be easily substituted for regulated production. This paper analyzes emissions leakage in an incompletely regulated and imperfectly competitive industry. The analytical model is used to simulate outcomes under incomplete, market-based regulation of carbon dioxide emissions in California's electricity sector. Regulation that exempts out-of-state producers achieves approximately one-third of the total emissions reductions achieved under complete regulation at more than twice the cost per ton. (JEL L94, Q53, Q58)
DOI: 10.3886/e114751
title: Replication data for: How Effective Are Public Policies to Increase Health Insurance Coverage among Young Adults?

description: This paper assesses the impact of policies to increase insurance coverage for young adults. The introduction of SCHIP in 1997 enabled low-income teens up to age 19 to gain access to public health insurance. More recent policies enabled young adults between the ages of 19 and (typically) 24 to remain covered under their parents' health insurance. We use the discrete break in coverage at age 19 to evaluate the impact of SCHIP, and quasi-experimental variation to evaluate the impact of "extended parental coverage" laws. Our results suggest that both types of policies were effective at increasing health insurance coverage. (JEL G22, H75, I18, J13)
DOI: 10.3886/e114752
title: Replication data for: Culture, Context, and the Taste for Redistribution

description: Is culture an important determinant of preferences for redistribution? To separate culture from the economic and institutional environment ("context"), we relate immigrants' redistributive preferences to the average preference in their birth countries. We find a strong positive relationship that is robust to rich controls for economic factors and cannot easily be explained by selective migration. This effect is as large as that of own household income and appears stronger for those less assimilated into the destination country. Immigrants from high-preference countries are more likely to vote for more pro-redistribution parties. The effect of culture persists strongly into the second generation. (JEL H23, Z13)
DOI: 10.3886/e114752v1
title: Replication data for: Culture, Context, and the Taste for Redistribution

description: Is culture an important determinant of preferences for redistribution? To separate culture from the economic and institutional environment ("context"), we relate immigrants' redistributive preferences to the average preference in their birth countries. We find a strong positive relationship that is robust to rich controls for economic factors and cannot easily be explained by selective migration. This effect is as large as that of own household income and appears stronger for those less assimilated into the destination country. Immigrants from high-preference countries are more likely to vote for more pro-redistribution parties. The effect of culture persists strongly into the second generation. (JEL H23, Z13)
DOI: 10.3886/e114753
title: Replication data for: The Cabals of a Few or the Confusion of a Multitude: The Institutional Trade-Off between Representation and Governance

description: Our model illustrates how political institutions trade off between the competing goals of representation and governance, where governance is the responsiveness of an institution to a single pivotal voter. We use exogenous variation from the 30-year history of the federal Community Development Block Grant program to identify this trade-off. Cities with more representative governments—those with larger city councils—use more grant funds to supplement city revenues rather than implementing tax cuts, thereby moving policy further away from the governance ideal. In sum, more representative government is not without cost. (JEL D72, H71, R50)
DOI: 10.3886/e114753v1
title: Replication data for: The Cabals of a Few or the Confusion of a Multitude: The Institutional Trade-Off between Representation and Governance

description: Our model illustrates how political institutions trade off between the competing goals of representation and governance, where governance is the responsiveness of an institution to a single pivotal voter. We use exogenous variation from the 30-year history of the federal Community Development Block Grant program to identify this trade-off. Cities with more representative governments—those with larger city councils—use more grant funds to supplement city revenues rather than implementing tax cuts, thereby moving policy further away from the governance ideal. In sum, more representative government is not without cost. (JEL D72, H71, R50)
DOI: 10.3886/e114754
title: Replication data for: The Effect of Classmate Characteristics on Post-secondary Outcomes: Evidence from the Add Health

description: This paper uses a within-school/across-cohort design to present new evidence of the effects of high school classmate characteristics on a wide range of post-secondary outcomes. We find that increases in the percent of classmates with college-educated mothers decreases the likelihood of dropping out and increases the likelihood of attending college, despite showing no impact on a range of in-school achievement, attitudes, and behaviors. The percent of students from disadvantaged minority groups does not show any effects on post-secondary outcomes, but is associated with students reporting less caring student-teacher relationships and increased prevalence of some undesirable student behaviors during high school. (JEL I21, J13, J15)
DOI: 10.3886/e114754v1
title: Replication data for: The Effect of Classmate Characteristics on Post-secondary Outcomes: Evidence from the Add Health

description: This paper uses a within-school/across-cohort design to present new evidence of the effects of high school classmate characteristics on a wide range of post-secondary outcomes. We find that increases in the percent of classmates with college-educated mothers decreases the likelihood of dropping out and increases the likelihood of attending college, despite showing no impact on a range of in-school achievement, attitudes, and behaviors. The percent of students from disadvantaged minority groups does not show any effects on post-secondary outcomes, but is associated with students reporting less caring student-teacher relationships and increased prevalence of some undesirable student behaviors during high school. (JEL I21, J13, J15)
DOI: 10.3886/e114755v1
title: Replication data for: Calorie Posting in Chain Restaurants

description: We study the impact of mandatory calorie posting on consumers' purchase decisions using detailed data from Starbucks. We find that average calories per transaction fall by 6 percent. The effect is almost entirely related to changes in consumers' food choices—there is almost no change in purchases of beverage calories. There is no impact on Starbucks profit on average, and for the subset of stores located close to their competitor Dunkin Donuts, the effect of calorie posting is actually to increase Starbucks revenue. Survey evidence and analysis of commuters suggests the mechanism for the effect is a combination of learning and salience. (JEL D12, D18, D83, L83)
DOI: 10.5281/zenodo.3484054
title: Louisiana Dataset for ArcGIS

description: <strong>Louisiana Dataset for ArcGIS</strong><br> This geodatabase contains statewide raster and vector data for Louisiana, USA in NAD 1983 / UTM zone 15N with EPSG code 26915. Unzip the archive and open in ArcGIS. <strong>Data Sources</strong> USGS National Elevation Dataset (NED) USGS National Landcover Dataset (NLCD) USGS National Hydrography Dataset (NHD) USGS National Transportation Dataset (NTD) USGS National Boundary Dataset (NBD) <strong>License</strong><br> This dataset is licensed under the ODC Public Domain Dedication and License 1.0 (PDDL) by Brendan Harmon.
DOI: 10.5281/zenodo.3484055
title: Louisiana Dataset for ArcGIS

description: <strong>Louisiana Dataset for ArcGIS</strong><br> This geodatabase contains statewide raster and vector data for Louisiana, USA in NAD 1983 / UTM zone 15N with EPSG code 26915. Unzip the archive and open in ArcGIS. <strong>Data Sources</strong> USGS National Elevation Dataset (NED) USGS National Landcover Dataset (NLCD) USGS National Hydrography Dataset (NHD) USGS National Transportation Dataset (NTD) USGS National Boundary Dataset (NBD) <strong>License</strong><br> This dataset is licensed under the ODC Public Domain Dedication and License 1.0 (PDDL) by Brendan Harmon.
DOI: 10.3886/e114087
title: Replication data for: The Simple Economics of Commodity Price Speculation

description: The price of crude oil never exceeded $40 per barrel until mid-2004. By July 2008 it peaked at $145 and by late 2008 it fell to $30 before increasing to $110 in 2011. Are speculators partly to blame for these price changes? Using a simple model of supply and demand in the cash and storage markets, we determine whether speculation is consistent with data on production, inventory changes, and convenience yields. We focus on crude oil, but our approach can be applied to other commodities. We show speculation had little, if any, effect on oil prices. (JEL G13, G18, G23, G31, Q35, Q38)
DOI: 10.3886/e114087v1
title: Replication data for: The Simple Economics of Commodity Price Speculation

description: The price of crude oil never exceeded $40 per barrel until mid-2004. By July 2008 it peaked at $145 and by late 2008 it fell to $30 before increasing to $110 in 2011. Are speculators partly to blame for these price changes? Using a simple model of supply and demand in the cash and storage markets, we determine whether speculation is consistent with data on production, inventory changes, and convenience yields. We focus on crude oil, but our approach can be applied to other commodities. We show speculation had little, if any, effect on oil prices. (JEL G13, G18, G23, G31, Q35, Q38)
DOI: 10.3886/e114088
title: Replication data for: Optimal Intermediary Rents

description: This paper studies a dynamic production economy with financial intermediation. It is assumed that claims held on intermediaries cannot be fully enforced such that intermediation is subject to intermediary equity requirements. It is shown that competitive equilibria are not constrained efficient whenever the aggregate amount of intermediary equity in the economy is low enough to limit production. Specifically, a constrained social planner can achieve a Pareto improvement by creating long-term rents for intermediaries, which immediately reduces intermediary equity requirements. The constrained-efficient allocation can be implemented by a positive tax on future intermediary activity. (JEL D21, D82, D86, G21, G28)
DOI: 10.3886/e114088v1
title: Replication data for: Optimal Intermediary Rents

description: This paper studies a dynamic production economy with financial intermediation. It is assumed that claims held on intermediaries cannot be fully enforced such that intermediation is subject to intermediary equity requirements. It is shown that competitive equilibria are not constrained efficient whenever the aggregate amount of intermediary equity in the economy is low enough to limit production. Specifically, a constrained social planner can achieve a Pareto improvement by creating long-term rents for intermediaries, which immediately reduces intermediary equity requirements. The constrained-efficient allocation can be implemented by a positive tax on future intermediary activity. (JEL D21, D82, D86, G21, G28)
DOI: 10.3886/e114123
title: Replication data for: Targeting Long Rates in a Model with Segmented Markets

description: This paper develops a model of segmented financial markets in which the net worth of financial institutions limits the degree of arbitrage across the term structure. The model is embedded into the canonical Dynamic New Keynesian (DNK) framework. We estimate the model using data on the term premium. Our principal results include the following. First, the estimated segmentation coefficient implies a nontrivial effect of central bank asset purchases on yields and real activity. Second, there are welfare gains to having the central bank respond to the term premium, e.g., including the term premium in the Taylor Rule. Third, a policy that directly targets the term premium sterilizes the real economy from shocks originating in the financial sector. A term-premium peg can have significant welfare effects.
DOI: 10.3886/e114125
title: Replication data for: Credit Relationships and Business Bankruptcy during the Great Depression

description: Credit relationships are sticky. Stickiness makes relationships beneficial to borrowers in times of their own distress but makes them potentially problematic when lenders themselves face hardship. To examine the role of credit relationships during a financial crisis, we exploit a natural experiment in Mississippi during the Great Depression that generated plausibly exogenous differences in financial distress for banks. Using new data drawn from the publications of the credit rating agency Dun & Bradstreet and from original bankruptcy filings, we show that financial distress increased business exit but did not increase the bankruptcy rate. Financial distress caused both banks and trade creditors to recalibrate their collections strategies, which is revealed by changes in the geographical distribution of the creditors of bankrupt businesses.
DOI: 10.3886/e114126
title: Replication data for: Amplification and Asymmetric Effects without Collateral Constraints

description: The seminal contribution by Kiyotaki and Moore (1997) has spurred a vast literature on the importance of collateral constraints in propagating and amplifying shocks to the economy. However, most papers in the literature using collateral constraints assume non-state-contingent debt, i.e., markets are incomplete. To assess the relative importance of collateral constraints versus market incompleteness, we study a calibrated incomplete markets model and solve it with and without collateral constraints. We find that market incompleteness by itself plays a quantitatively significant role in the amplified and asymmetric responses of the economy, including land price and output, to exogenous shocks.
DOI: 10.3886/e114129
title: Replication data for: Gender Gaps and the Rise of the Service Economy

description: This paper investigates the role of the rise in services in the narrowing of gender gaps in hours and wages in recent decades. We highlight the between-industry component of differential gender trends for the United States and propose a model economy with goods, services, and home production, in which women have a comparative advantage in producing services. The rise of services, driven by structural transformation and marketization of home production, raises women's relative wages and market hours. Quantitatively, the model accounts for an important share of the observed trends in women's hours and relative wages.
DOI: 10.3886/e114131v1
title: Replication data for: When Is Foreign Exchange Intervention Effective? Evidence from 33 Countries

description: This paper examines foreign exchange intervention based on novel daily data covering 33 countries from 1995 to 2011. We find that intervention is widely used and an effective policy tool, with a success rate in excess of 80 percent under some criteria. The policy works well in terms of smoothing the path of exchange rates, and in stabilizing the exchange rate in countries with narrow band regimes. Moving the level of the exchange rate in flexible regimes requires that some conditions are met, including the use of large volumes and that intervention is made public and supported via communication.
DOI: 10.3886/e114132
title: Replication data for: Noisy News in Business Cycles

description: We investigate the role of "noise" shocks as a source of business cycle fluctuations. To do so we set up a simple model of imperfect information and derive restrictions for identifying the noise shock in a VAR model. The novelty of our approach is that identification is reached by means of dynamic rotations of the reduced-form residuals. We find that noise shocks generate hump-shaped responses of GDP, consumption and investment, and account for a sizable fraction of their prediction error variance at business cycle horizons.
DOI: 10.3886/e114132v1
title: Replication data for: Noisy News in Business Cycles

description: We investigate the role of "noise" shocks as a source of business cycle fluctuations. To do so we set up a simple model of imperfect information and derive restrictions for identifying the noise shock in a VAR model. The novelty of our approach is that identification is reached by means of dynamic rotations of the reduced-form residuals. We find that noise shocks generate hump-shaped responses of GDP, consumption and investment, and account for a sizable fraction of their prediction error variance at business cycle horizons.
DOI: 10.3886/e114291
title: Replication data for: Fertility and Wars: The Case of World War I in France

description: During World War I the birth rate in France fell by 50%. Why? I build a model of fertility choices where the war implies a positive probability that a wife remains alone, a partially-compensated loss of a husband's income, and a temporary decline in productivity followed by faster growth. I calibrate the model's key parameters using pre-war data. I find that it accounts for 91% of the decline of the birth rate. The main determinant of this result is the loss of expected income associated with the risk that a wife remains alone.
DOI: 10.3886/e114291v1
title: Replication data for: Fertility and Wars: The Case of World War I in France

description: During World War I the birth rate in France fell by 50%. Why? I build a model of fertility choices where the war implies a positive probability that a wife remains alone, a partially-compensated loss of a husband's income, and a temporary decline in productivity followed by faster growth. I calibrate the model's key parameters using pre-war data. I find that it accounts for 91% of the decline of the birth rate. The main determinant of this result is the loss of expected income associated with the risk that a wife remains alone.
DOI: 10.3886/e114292
title: Replication data for: How Frequent Are Small Price Changes?

description: Recent empirical work suggests that small price changes are relatively common. This evidence has been used to criticize classic menu-cost models. In this paper, we use scanner data from a national supermarket chain and micro data from the Consumer Price Index to reassess the importance of small price changes. We argue that the vast majority of these changes are due to measurement error. We conclude that the evidence on the prevalence of small price changes is much too weak to be used as a litmus test of nominal rigidity models.
DOI: 10.3886/e114292v1
title: Replication data for: How Frequent Are Small Price Changes?

description: Recent empirical work suggests that small price changes are relatively common. This evidence has been used to criticize classic menu-cost models. In this paper, we use scanner data from a national supermarket chain and micro data from the Consumer Price Index to reassess the importance of small price changes. We argue that the vast majority of these changes are due to measurement error. We conclude that the evidence on the prevalence of small price changes is much too weak to be used as a litmus test of nominal rigidity models.
DOI: 10.3886/e114293
title: Replication data for: Missing Import Price Changes and Low Exchange Rate Pass-Through

description: A large body of empirical work has found that exchange rate movements have only modest effects on U.S. inflation. However, exchange rate pass-through may be underestimated because some price changes are missed when constructing price indexes. We investigate downward biases that arise when items exit or enter the U.S. import price index. Using Bureau of Labor Statistics microdata we find that, although potentially large in theory, the empirical biases are modest over typical forecast horizons. As such, the empirical evidence continues to support the conclusion that pass-through to U.S. import prices is low.