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Approximately 8 million U.S. residents currently obtain private health insurance coverage through one of the marketplaces created by the Affordable Care Act (ACA).Recent research has documented consid...
We study the long-run evolution of brand preferences, using new data on consumers’ life histories and purchases of consumer packaged goods. Variation in where consumers have lived in the past allo...
The welfare impact of expanding access to bank accounts depends on whether accounts crowd out pre-existing financial relationships, or whether private gains from accounts are shared within socia...
This paper describes the evolution of the tax treatment of investment in R&D in Australia, Canada, France, Great Britain, Germany, Italy, Japan and the USA between 1979 and 1994. Estimates of the cost...
This paper examines the impact of fiscal incentives on the level of R&D investment. An econometric model of R&D investment is estimated using a new panel of data on tax changes and R&D spending in nin...
We analyse the causal impact of competition on managerial quality and hospital performance. To address the endogeneity of market structure we analyse the English public hospital sector where entry and...
A rising share of employees now regularly engage in working from home (WFH), but there are concerns this can lead to “shirking from home.”We report the results of a WFH experiment at Ctrip, a 16,000-e...
This paper examines the migration response to a millionaire tax in New Jersey, which raised its income tax rate on top earners by 2.6 percentage points to 8.97 percent, one of the highest tax rate...
Why do individual patent holders assign their patents to “trolls” rather than license their technologies directly to manufacturers or assert them through litigation? We explore the hypothesis that an ...
Theory predicts that mandated employment protections may reduce productivity by distorting production choices. Firms facing (non-Coasean) worker dismissal costs will curtail hiring below efficient lev...
Theory predicts that mandated employment protections may reduce productivity by distorting production choices. Firms facing (non-Coasean) worker dismissal costs will curtail hiring below efficient lev...
Matching 2,777 R&D firms in surveys conducted by the National Research Council between 1921 and 1938 with U.S. patents reveals that 59 percent of all firms and 88 percent of publicly-traded firms pate...
This paper analyzes how different legal and financial systems affect the composition of loan syndicates, and how the composition, in turn, affects loan pricing. In contrast with previous work on the a...
I study the evolution of Statement of Financial Accounting Standard (SFAS) # 142, which uses unverifiable fair-value estimates to account for acquired goodwill. I find evidence consistent with the Fin...
The microfinance revolution has transformed access to financial services for low-income populations worldwide. As a result, it has become one of the most talked-about innovations in global development...

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