Immigration and the Diffusion of Technology: The Huguenot Diaspora in Prussia (pp. 84-122) Erik Hornung Abstract/Tools | Full-text Article | Online Appendix (156.78 KB) | Download Data Set (143.00 KB) | Author Disclosure Statement(s) (8.54 KB)
Violence and Risk Preference: Experimental Evidence from Afghanistan (pp. 123-48) Michael Callen, Mohammad Isaqzadeh, James D. Long and Charles Sprenger Abstract/Tools | Full-text Article | Online Appendix (449.81 KB) | Download Data Set (39.47 KB) | Author Disclosure Statement(s) (408.84 KB)
Consumption Risk-Sharing in Social Networks (pp. 149-82) Attila Ambrus, Markus Mobius and Adam Szeidl Abstract/Tools | Full-text Article | Online Appendix (355.83 KB) | Download Data Set (2.12 MB) | Author Disclosure Statement(s) (50.68 KB)
Risk Sharing and Transactions Costs: Evidence from Kenya's Mobile Money Revolution (pp. 183-223) William Jack and Tavneet Suri Abstract/Tools | Full-text Article | Online Appendix (451.45 KB) | Download Data Set (386.31 KB) | Author Disclosure Statement(s) (55.97 KB)
Estimating a Structural Model of Herd Behavior in Financial Markets (pp. 224-51) Marco Cipriani and Antonio Guarino Abstract/Tools | Full-text Article | Download Data Set (84.77 KB) | Author Disclosure Statement(s) (0 bytes)
Shorter Papers
Worktime Regulations and Spousal Labor Supply (pp. 252-76) Dominique Goux, Eric Maurin and Barbara Petrongolo Abstract/Tools | Full-text Article | Online Appendix (128.04 KB) | Download Data Set (39.13 KB) | Author Disclosure Statement(s) (100.05 KB)
One Swallow Doesn't Make a Summer: New Evidence on Anchoring Effects (pp. 277-90) Zacharias Maniadis, Fabio Tufano and John A. List Abstract/Tools | Full-text Article | Online Appendix (298.23 KB) | Download Data Set (1.77 MB) | Author Disclosure Statement(s) (470.49 KB)
Partnerships versus Corporations: Moral Hazard, Sorting, and Ownership Structure (pp. 291-307) Ayca Kaya and Galina Vereshchagina Abstract/Tools | Full-text Article | Online Appendix (259.38 KB) | Author Disclosure Statement(s) (48.44 KB)
Social Ideology and Taxes in a Differentiated Candidates Framework (pp. 308-22) Stefan Krasa and Mattias Polborn Abstract/Tools | Full-text Article | Online Appendix (64.71 KB) | Author Disclosure Statement(s) (20.50 KB)
Term Premia and Inflation Uncertainty: Empirical Evidence from an International Panel Dataset: Comment (pp. 323-37) Michael D. Bauer, Glenn D. Rudebusch and Jing Cynthia Wu Abstract/Tools | Full-text Article | Download Data Set (1,023.17 KB) | Author Disclosure Statement(s) (60.12 KB)
Term Premia and Inflation Uncertainty: Empirical Evidence from an International Panel Dataset: Reply (pp. 338-41) Jonathan H. Wright Abstract/Tools | Full-text Article | Download Data Set (15.54 KB) | Author Disclosure Statement(s) (16.66 KB)
Risk Shocks†
By Lawrence J. Christiano, Roberto Motto,
and Massimo Rostagno*
We augment a standard monetary dynamic general equilibrium
model to include a Bernanke-Gertler-Gilchrist financial accelerator
mechanism. We fit the model to US data, allowing the volatility of
cross-sectional idiosyncratic uncertainty to fluctuate over time. We
refer to this measure of volatility as risk. We find that fluctuations in
risk are the most important shock driving the business cycle. (JEL
D81, D82, E32, E44, L26)
Sales Taxes and Internet Commerce†
By Liran Einav, Dan Knoepfle, Jonathan Levin, and Neel Sundaresan*
We estimate the sensitivity of Internet retail purchasing to sales taxes
using eBay data. Our first approach exploits the fact that a seller’s
location—and therefore the applicable tax rate—is revealed only
after a buyer has expressed interest in an item. We document how
adverse tax “surprises” reduce the likelihood of purchase and shift
subsequent purchases toward out-of-state sellers. We then use more
aggregated data to estimate that every one percentage point increase
in a state’s sales tax increases online purchases by state residents by
almost 2 percent, while decreasing their online purchases from state
retailers by 3– 4 percent. (JEL H71, L81, L86)