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The Anatomy of a Hospital System Merger: The Patient Did Not Respond Well to Treatment 医院系统合并的解剖:病人对治疗反应不佳
The Review of Economics and Statistics Pub Date : 2023-10-23 DOI: 10.1162/rest_a_01384
Martin Gaynor, Adam Sacarny, Raffaella Sadun, Chad Syverson, Shruthi Venkatesh
{"title":"The Anatomy of a Hospital System Merger: The Patient Did Not Respond Well to Treatment","authors":"Martin Gaynor, Adam Sacarny, Raffaella Sadun, Chad Syverson, Shruthi Venkatesh","doi":"10.1162/rest_a_01384","DOIUrl":"https://doi.org/10.1162/rest_a_01384","url":null,"abstract":"Abstract Despite the continuing US hospital merger wave, it remains unclear how mergers change, or fail to change, hospital behavior and performance. We open the “black box” of hospital practices through a mega-merger between two for-profit chains. Benchmarking the merger's effects against the acquirer's stated aims, we show they achieved some of their goals, harmonizing electronic medical records and sending managers to target hospitals. Post-acquisition managerial processes were similar across the merged chain. However, these interventions failed to drive detectable gains in performance. Our findings demonstrate the importance of organizations for merger research in health care and the economy more generally.","PeriodicalId":275408,"journal":{"name":"The Review of Economics and Statistics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135322602","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Financing Municipal Water and Sanitation Services in Nairobi's Informal Settlements 资助内罗毕非正式住区的市政供水和卫生服务
The Review of Economics and Statistics Pub Date : 2023-10-23 DOI: 10.1162/rest_a_01379
Aidan Coville, Sebastian Galiani, Paul Gertler, Susumu Yoshida
{"title":"Financing Municipal Water and Sanitation Services in Nairobi's Informal Settlements","authors":"Aidan Coville, Sebastian Galiani, Paul Gertler, Susumu Yoshida","doi":"10.1162/rest_a_01379","DOIUrl":"https://doi.org/10.1162/rest_a_01379","url":null,"abstract":"Abstract We test two ways to improve revenue collection efficiency for water and sanitation utilities: (i) face-to-face engagement between utility staff and customers and (ii) contract enforcement for service disconnection due to nonpayment in the form of transparent and credible disconnection notices. Engagement has no effect, while enforcement significantly increases payment. We find no effect on access to water, perceptions of the utility, relationships between tenants and property owners, or on tenant mental well-being nine months after the intervention. These results suggest that transparent contract enforcement was effective at improving revenue collection efficiency without incurring significant observed social or political costs.","PeriodicalId":275408,"journal":{"name":"The Review of Economics and Statistics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135460677","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Aggregate Skewness and the Business Cycle 总体偏度与商业周期
The Review of Economics and Statistics Pub Date : 2023-10-23 DOI: 10.1162/rest_a_01390
Martin Iseringhausen, Ivan Petrella, Konstantinos Theodoridis
{"title":"Aggregate Skewness and the Business Cycle","authors":"Martin Iseringhausen, Ivan Petrella, Konstantinos Theodoridis","doi":"10.1162/rest_a_01390","DOIUrl":"https://doi.org/10.1162/rest_a_01390","url":null,"abstract":"Abstract We develop a data-rich measure of expected macroeconomic skewness in the US economy. Expected macroeconomic skewness is strongly procyclical, mainly reflects the cyclicality in the skewness of real variables, is highly correlated with the cross-sectional skewness of firm-level employment growth, and is distinct from financial market skewness. Revisions in expected skewness lead to business cycle fluctuations nearly indistinguishable from those induced by the main business cycle shock of Angeletos et al. (2020). This result is robust to controlling for macroeconomic volatility and uncertainty, and alternative macroeconomic shocks. Our findings suggest an important role of higher-order dynamics for business cycle theories.","PeriodicalId":275408,"journal":{"name":"The Review of Economics and Statistics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135460096","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Stimulant or Depressant? Resource-Related Income Shocks and Conflict 兴奋剂还是镇静剂?与资源相关的收入冲击与冲突
The Review of Economics and Statistics Pub Date : 2023-10-23 DOI: 10.1162/rest_a_01375
Kai Gehring, Sarah Langlotz, Stefan Kienberger
{"title":"Stimulant or Depressant? Resource-Related Income Shocks and Conflict","authors":"Kai Gehring, Sarah Langlotz, Stefan Kienberger","doi":"10.1162/rest_a_01375","DOIUrl":"https://doi.org/10.1162/rest_a_01375","url":null,"abstract":"Abstract We provide evidence on the mechanisms linking resource-related income shocks to conflict, focusing on illegal crops. We hypothesize that the degree of group competition over resources and the extent of law enforcement explain whether opportunity cost or contest effects dominate. Combining temporal variation in international drug prices with spatial variation in the suitability to produce opium, we show that higher prices increase household living standards and reduce conflict in Afghanistan. Analyzing shifts in conflict tactics and using geo-referenced data on drug production networks and territorial control highlight the importance of opportunity costs, and reveal heterogeneous effects consistent with our theory.","PeriodicalId":275408,"journal":{"name":"The Review of Economics and Statistics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135460097","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Political Costs of Austerity 财政紧缩的政治成本
The Review of Economics and Statistics Pub Date : 2023-10-23 DOI: 10.1162/rest_a_01388
Ricardo Duque Gabriel, Mathias Klein, Ana Sofia Pessoa
{"title":"The Political Costs of Austerity","authors":"Ricardo Duque Gabriel, Mathias Klein, Ana Sofia Pessoa","doi":"10.1162/rest_a_01388","DOIUrl":"https://doi.org/10.1162/rest_a_01388","url":null,"abstract":"Abstract Using a novel regional database covering over 200 elections in several European countries, this paper provides new empirical evidence on the political consequences of fiscal consolidations. To identify exogenous reductions in regional public spending, we use a Bartik-type instrument that combines regional sensitivities to changes in national government expenditures with narrative national consolidation episodes. Fiscal consolidations lead to a significant increase in extreme parties' vote share, lower voter turnout, and a rise in political fragmentation. We highlight the close relationship between detrimental economic developments and voters' support for extreme parties by showing that austerity induces severe economic costs through lowering GDP, employment, private investment, and wages. Austerity-driven recessions amplify the political costs of economic downturns considerably by increasing distrust in the political environment.","PeriodicalId":275408,"journal":{"name":"The Review of Economics and Statistics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135460682","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Uber and Traffic Fatalities 优步和交通事故
The Review of Economics and Statistics Pub Date : 2023-10-23 DOI: 10.1162/rest_a_01385
Michael L. Anderson, Lucas W. Davis
{"title":"Uber and Traffic Fatalities","authors":"Michael L. Anderson, Lucas W. Davis","doi":"10.1162/rest_a_01385","DOIUrl":"https://doi.org/10.1162/rest_a_01385","url":null,"abstract":"Abstract Previous studies of the effect of ridesharing on traffic fatalities have yielded inconsistent conclusions. We revisit this question using proprietary data from Uber measuring monthly rideshare activity at the Census tract level. We find a consistent negative effect of ridesharing on traffic fatalities, with impacts concentrated during nights and weekends. Our results imply that ridesharing has decreased U.S. traffic fatalities by 5.2% in areas where it operates. The annual life-saving benefits are $6.8 billion. Back-of-the-envelope calculations suggest that these benefits are of similar magnitude to producer surplus captured by Uber shareholders or consumer surplus captured by Uber riders.","PeriodicalId":275408,"journal":{"name":"The Review of Economics and Statistics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135460822","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
The Effect of Police Oversight on Crime and Misconduct Allegations: Evidence from Chicago 警察监督对犯罪和不当行为指控的影响:来自芝加哥的证据
The Review of Economics and Statistics Pub Date : 2023-10-23 DOI: 10.1162/rest_a_01377
Roman G. Rivera, Bocar A. Ba
{"title":"The Effect of Police Oversight on Crime and Misconduct Allegations: Evidence from Chicago","authors":"Roman G. Rivera, Bocar A. Ba","doi":"10.1162/rest_a_01377","DOIUrl":"https://doi.org/10.1162/rest_a_01377","url":null,"abstract":"Abstract Does police oversight increase crime? Studies examining this relationship often rely on major scandals as shocks, but the simultaneous effect of public outrage on officer behavior and crime contaminates the results. Using a framework distinguishing oversight and outrage, we identify two events that increased oversight but elicited no public reaction. We find that despite a subsequent decline in reported misconduct, these oversight increases likely did not significantly impact crime or officer activity, suggesting oversight can reduce misconduct without increasing crime. However, a major policing scandal likely increased crime but did not increase arrests and decreased stops and uses of force.","PeriodicalId":275408,"journal":{"name":"The Review of Economics and Statistics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135460823","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Early Joiners and Startup Performance 早期参与者和创业绩效
The Review of Economics and Statistics Pub Date : 2023-10-23 DOI: 10.1162/rest_a_01386
Joonkyu Choi, Nathan Goldschlag, John Haltiwanger, J. Daniel Kim
{"title":"Early Joiners and Startup Performance","authors":"Joonkyu Choi, Nathan Goldschlag, John Haltiwanger, J. Daniel Kim","doi":"10.1162/rest_a_01386","DOIUrl":"https://doi.org/10.1162/rest_a_01386","url":null,"abstract":"Abstract We show that early joiners—non-founder employees in the first year of a startup—play a critical role in shaping firm performance. We use administrative employer-employee matched data on US startups and utilize premature death as a natural experiment that exogenously separates talent from startups. We find that losing an early joiner has large negative effects on employment and revenues that persist for at least ten years. In contrast, losing a later joiner yields only a small and temporary decline in firm performance. Our results imply that organization capital, an important driver of startup success, is embodied in early joiners.","PeriodicalId":275408,"journal":{"name":"The Review of Economics and Statistics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135460824","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Revisiting the Origins of Business Cycles with the Size-Variance Relationship 用规模-方差关系重新审视经济周期的起源
The Review of Economics and Statistics Pub Date : 2023-10-23 DOI: 10.1162/rest_a_01374
Chen Yeh
{"title":"Revisiting the Origins of Business Cycles with the Size-Variance Relationship","authors":"Chen Yeh","doi":"10.1162/rest_a_01374","DOIUrl":"https://doi.org/10.1162/rest_a_01374","url":null,"abstract":"Abstract This paper quantifies the importance of the granular channel for the U.S. economy by taking into account that large firms are less volatile than small firms; a feature also known as the size-variance relationship. Intuitively, the largest firms, whose shocks drive granularity, are the least volatile, thus their influence on aggregates is mitigated. By imposing estimates from the universe of employers for the size-variance relationship in a simple, quantitative framework, I find that the granular hypothesis can rationalize 15 percent of U.S. aggregate fluctuations; establishing a lower bound for the role of granularity in the U.S. economy.","PeriodicalId":275408,"journal":{"name":"The Review of Economics and Statistics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135460091","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Trade Liberalization and Chinese Students in U.S. Higher Education 贸易自由化与美国高等教育的中国学生
The Review of Economics and Statistics Pub Date : 2023-10-23 DOI: 10.1162/rest_a_01378
Gaurav Khanna, Kevin Shih, Ariel Weinberger, Mingzhi Xu, Miaojie Yu
{"title":"Trade Liberalization and Chinese Students in U.S. Higher Education","authors":"Gaurav Khanna, Kevin Shih, Ariel Weinberger, Mingzhi Xu, Miaojie Yu","doi":"10.1162/rest_a_01378","DOIUrl":"https://doi.org/10.1162/rest_a_01378","url":null,"abstract":"Abstract We highlight a lesser-known consequence of China's integration into the world economy: the rise of services trade. We demonstrate how the US's trade deficit in goods cycles back as a surplus in US exports of education services. Focusing on China's accession to the World Trade Organization, we show that Chinese cities more exposed to trade liberalization sent more students to US universities. Growth in housing income/wealth allowed Chinese families to afford US tuition, and more students financed their studies using personal funds. Our estimates suggest that recent trade wars could cost US universities around $1.1 bn in annual tuition revenue.","PeriodicalId":275408,"journal":{"name":"The Review of Economics and Statistics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135460094","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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