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Legal Origins and Female HIV. 法律渊源与女性艾滋病毒。
IF 10.7 1区 经济学
American Economic Review Pub Date : 2018-05-01 DOI: 10.1257/AER.20151047
Siwan Anderson
{"title":"Legal Origins and Female HIV.","authors":"Siwan Anderson","doi":"10.1257/AER.20151047","DOIUrl":"https://doi.org/10.1257/AER.20151047","url":null,"abstract":"More than one-half of all people living with HIV are women and 80 percent of all HIV-positive women in the world live in sub- Saharan Africa. This paper demonstrates that the legal origins of these formerly colonized countries significantly determine current-day female HIV rates. In particular, female HIV rates are significantly higher in common law sub- Saharan African countries compared to civil law ones. This paper explains this relationship by focusing on differences in female property rights under the two codes of law. In sub- Saharan Africa, common law is associated with weaker female marital property laws. As a result, women in these common law countries have lower bargaining power within the household and are less able to negotiate safe sex practices and are thus more vulnerable to HIV, compared to their civil law counterparts. Exploiting the fact that some ethnic groups in sub- Saharan Africa cross country borders with different legal systems, we are able to include ethnicity fixed effects into a regression discontinuity approach. This allows us to control for a large set of cultural, geographical, and environmental factors that could be confounding the estimates. The results of this paper are consistent with gender inequality (the \"feminization\" of AIDS), explaining much of its prevalence in sub- Saharan Africa.","PeriodicalId":48472,"journal":{"name":"American Economic Review","volume":"108 5 1","pages":"1407-89"},"PeriodicalIF":10.7,"publicationDate":"2018-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1257/AER.20151047","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48153857","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 69
Family Ruptures, Stress, and the Mental Health of the Next Generation. 家庭破裂、压力和下一代的心理健康。
IF 10.7 1区 经济学
American Economic Review Pub Date : 2018-04-01
Petra Persson, Maya Rossin-Slater
{"title":"Family Ruptures, Stress, and the Mental Health of the Next Generation.","authors":"Petra Persson,&nbsp;Maya Rossin-Slater","doi":"","DOIUrl":"","url":null,"abstract":"<p><p>This paper studies how in utero exposure to maternal stress from family ruptures affects later mental health. We find that prenatal exposure to the death of a maternal relative increases take-up of ADHD medications during childhood and anti-anxiety and depression medications in adulthood. Further, family ruptures during pregnancy depress birth outcomes and raise the risk of perinatal complications necessitating hospitalization. Our results suggest large welfare gains from preventing fetal stress from family ruptures and possibly from economically induced stressors such as unemployment. They further suggest that greater stress exposure among the poor may partially explain the intergenerational persistence of poverty.</p>","PeriodicalId":48472,"journal":{"name":"American Economic Review","volume":"108 4","pages":"1214-52"},"PeriodicalIF":10.7,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"36383732","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Limits to Partial Banking Unions: A Political Economy Approach 部分银行联盟的局限性：一种政治经济学方法
IF 10.7 1区 经济学
American Economic Review Pub Date : 2018-04-01 DOI: 10.1257/AER.20141388
Dana Foarta
{"title":"The Limits to Partial Banking Unions: A Political Economy Approach","authors":"Dana Foarta","doi":"10.1257/AER.20141388","DOIUrl":"https://doi.org/10.1257/AER.20141388","url":null,"abstract":"This paper studies the welfare effects of a \"partial banking union\" in which cross-country transfers for bailouts are set at the supranational level, but policymakers in member countries decide the distribution of funds. This allows the self-interested policymakers to extract rents in the bailout process. In equilibrium, such a banking union can actually lower the welfare of citizens in the country receiving transfers compared to the autarky case, as the receiving country must increase its share of the overall burden of the bailout, in order to compensate for the rent-seeking distortion. Supranational fiscal rules are ineffective at reversing this result.","PeriodicalId":48472,"journal":{"name":"American Economic Review","volume":"108 1","pages":"1187-1213"},"PeriodicalIF":10.7,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1257/AER.20141388","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49286616","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 21
Corporate Finance and Monetary Policy “公司财务与货币政策”
IF 10.7 1区 经济学
American Economic Review Pub Date : 2018-04-01 DOI: 10.1257/AER.20161048
G. Rocheteau, Randall Wright, Cathy Zhang
{"title":"Corporate Finance and Monetary Policy","authors":"G. Rocheteau, Randall Wright, Cathy Zhang","doi":"10.1257/AER.20161048","DOIUrl":"https://doi.org/10.1257/AER.20161048","url":null,"abstract":"We develop a general equilibrium model where entrepreneurs finance random investment opportunities using trade credit, bank-issued assets, or currency. They search for bank funding in over-the-counter markets where loan sizes, interest rates, and down payments are negotiated bilaterally. The theory generates pass-through from nominal interest rates to real lending rates depending on market microstructure, policy, and firm characteristics. Higher banks' bargaining power, for example, raises pass-through but weakens transmission to investment. Interest rate spreads arise from liquidity, regulatory, and intermediation premia and depend on policy described as money growth or open market operations.","PeriodicalId":48472,"journal":{"name":"American Economic Review","volume":"108 1","pages":"1147-1186"},"PeriodicalIF":10.7,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1257/AER.20161048","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45370223","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 31
Family Ruptures, Stress, and the Mental Health of the Next Generation: Comment 家庭破裂、压力和下一代的心理健康:评论
IF 10.7 1区 经济学
American Economic Review Pub Date : 2018-03-30 DOI: 10.1257/AER.20161124
Brett Matsumoto
{"title":"Family Ruptures, Stress, and the Mental Health of the Next Generation: Comment","authors":"Brett Matsumoto","doi":"10.1257/AER.20161124","DOIUrl":"https://doi.org/10.1257/AER.20161124","url":null,"abstract":"The empirical methodology used by Persson and Rossin-Slater (2018) to estimate the causal effect of in utero exposure to stress contains a potentially significant flaw. They define the control group in a way that may bias their causal estimates and can lead to the finding of a significant relationship when there is none. In this note, I describe the source of the bias and suggest an alternative specification of the control group.","PeriodicalId":48472,"journal":{"name":"American Economic Review","volume":"108 1","pages":"1253-1255"},"PeriodicalIF":10.7,"publicationDate":"2018-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1257/AER.20161124","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46469219","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
Advertising and Risk Selection in Health Insurance Markets. 健康保险市场中的广告和风险选择。
IF 10.7 1区 经济学
American Economic Review Pub Date : 2018-03-01 DOI: 10.1257/AER.20151485
Naoki Aizawa, You Suk Kim
{"title":"Advertising and Risk Selection in Health Insurance Markets.","authors":"Naoki Aizawa, You Suk Kim","doi":"10.1257/AER.20151485","DOIUrl":"https://doi.org/10.1257/AER.20151485","url":null,"abstract":"This paper studies the impact of advertising as a channel for risk selection in Medicare Advantage. We provide evidence that insurer advertising is responsive to the gains from risk selection. Then we develop and estimate an equilibrium model of Medicare Advantage with advertising, allowing rich individual heterogeneity. Our estimates show that advertising is effective in attracting healthy individuals who are newly eligible for Medicare, contributing to advantageous selection into Medicare Advantage. Moreover, risk selection through advertising substantially lowers premiums by\u0000improving insurers' risk pools. The distributional implication is that unhealthy consumers may be better off through cross-subsidization from healthy individuals.","PeriodicalId":48472,"journal":{"name":"American Economic Review","volume":"108 3 1","pages":"828-67"},"PeriodicalIF":10.7,"publicationDate":"2018-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1257/AER.20151485","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41897389","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 39
How Does Household Income Affect Child Personality Traits and Behaviors? 家庭收入如何影响儿童的个性特征和行为？
IF 10.7 1区 经济学
American Economic Review Pub Date : 2018-03-01 DOI: 10.1257/aer.20160133
Randall Akee, William Copeland, E Jane Costello, Emilia Simeonova
{"title":"How Does Household Income Affect Child Personality Traits and Behaviors?","authors":"Randall Akee, William Copeland, E Jane Costello, Emilia Simeonova","doi":"10.1257/aer.20160133","DOIUrl":"10.1257/aer.20160133","url":null,"abstract":"<p><p>We examine the effects of a quasi-experimental unconditional household income transfer on child emotional and behavioral health and personality traits. Using longitudinal data, we find that there are large beneficial effects on children's emotional and behavioral health and personality traits during adolescence. We find evidence that these effects are most pronounced for children who start out with the lowest initial endowments. The income intervention also results in improvements in parental relationships which we interpret as a potential mechanism behind our findings.</p>","PeriodicalId":48472,"journal":{"name":"American Economic Review","volume":"108 3","pages":"775-827"},"PeriodicalIF":10.7,"publicationDate":"2018-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5860688/pdf/nihms947351.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"35938432","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Advertising and Risk Selection in Health Insurance Markets. 健康保险市场中的广告和风险选择。
IF 10.7 1区 经济学
American Economic Review Pub Date : 2018-03-01
Naoki Aizawa, You Suk Kim
{"title":"Advertising and Risk Selection in Health Insurance Markets.","authors":"Naoki Aizawa,&nbsp;You Suk Kim","doi":"","DOIUrl":"","url":null,"abstract":"<p><p>This paper studies the impact of advertising as a channel for risk selection in Medicare Advantage. We provide evidence that insurer advertising is responsive to the gains from risk selection. Then we develop and estimate an equilibrium model of Medicare Advantage with advertising, allowing rich individual heterogeneity. Our estimates show that advertising is effective in attracting healthy individuals who are newly eligible for Medicare, contributing to advantageous selection into Medicare Advantage. Moreover, risk selection through advertising substantially lowers premiums by\u0000improving insurers' risk pools. The distributional implication is that unhealthy consumers may be better off through cross-subsidization from healthy individuals.</p>","PeriodicalId":48472,"journal":{"name":"American Economic Review","volume":"108 3","pages":"828-67"},"PeriodicalIF":10.7,"publicationDate":"2018-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"36383727","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Disentangling the Effects of a Banking Crisis: Evidence from German Firms and Counties 解开银行危机的影响：来自德国企业和县的证据
IF 10.7 1区 经济学
American Economic Review Pub Date : 2018-03-01 DOI: 10.1257/AER.20161534
Kilian Huber
{"title":"Disentangling the Effects of a Banking Crisis: Evidence from German Firms and Counties","authors":"Kilian Huber","doi":"10.1257/AER.20161534","DOIUrl":"https://doi.org/10.1257/AER.20161534","url":null,"abstract":"Lending cuts by banks directly affect the firms borrowing from them, but also indirectly depress economic activity in the regions in which they operate. This paper moves beyond firm-level studies by estimating the effects of an exogenous lending cut by a large German bank on firms and counties. I construct an instrument for regional exposure to the lending cut based on a historic, postwar breakup of the bank. I present evidence that the lending cut affected firms independently of their banking relationships, through lower aggregate demand and agglomeration spillovers in counties exposed to the lending cut. Output and employment remained persistently low even after bank lending had normalized. Innovation and productivity fell, consistent with the persistent effects.","PeriodicalId":48472,"journal":{"name":"American Economic Review","volume":"108 1","pages":"868-898"},"PeriodicalIF":10.7,"publicationDate":"2018-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1257/AER.20161534","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49487068","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 219
Real Effects of Information Frictions: When the States and the Kingdom Became United 信息摩擦的真实影响:当美国和英国联合起来
IF 10.7 1区 经济学
American Economic Review Pub Date : 2018-02-28 DOI: 10.1257/AER.20150681
C. Steinwender
{"title":"Real Effects of Information Frictions: When the States and the Kingdom Became United","authors":"C. Steinwender","doi":"10.1257/AER.20150681","DOIUrl":"https://doi.org/10.1257/AER.20150681","url":null,"abstract":"This paper exploits a unique historical experiment to estimate how information frictions distort international trade: the establishment of the transatlantic telegraph in 1866. I use newly collected data on cotton prices, trade, and information flows from historical newspapers and find that the average and volatility of the transatlantic price difference fell after the telegraph, while average trade flows increased and became more volatile. Using a trade model in which exporters use the latest news about a foreign market to forecast expected prices, I estimate the efficiency gains of the telegraph to be equivalent to 8 percent of export value.","PeriodicalId":48472,"journal":{"name":"American Economic Review","volume":"108 1","pages":"657-696"},"PeriodicalIF":10.7,"publicationDate":"2018-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1257/AER.20150681","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41352863","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 108
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