长期接触地方暴力对婴儿健康的影响

Eunsik Chang, Sandra Orozco-Aleman, and María Padilla-Romo #32806

Abstract: This paper studies the effects of mothers' long-term pre-conception exposure to local violence on birth outcomes. Using administrative data from Mexico and two different empirical strategies, our results indicate that mothers' long-term exposure to local violence prior to conception has detrimental effects on infant health at birth. The results suggest that loss of women's human capital and deterioration of mental health are potential underlying mechanisms behind the adverse effects, highlighting intergenerational consequences of exposure to local violence. Our findings shed light on the welfare implications of local violence that are not captured in in-utero exposure to violence.

摘要：这篇论文研究了母亲在受孕前长期接触地方暴力对出生结果的影响。利用来自墨西哥的行政数据和两种不同的实证策略，我们的结果表明，母亲在受孕前长期接触地方暴力对婴儿出生时的健康有负面影响。结果表明，女性人力资本的损失和心理健康的恶化是这些不良影响的潜在机制，突显了地方暴力的代际后果。我们的发现揭示了地方暴力对福利的影响，这些影响在胎内暴力暴露中未被捕捉到。

垂直整合与医疗市场中的计划设计

José Ignacio Cuesta, Carlos E. Noton, and Benjamin Vatter #32833

Abstract: We measure the impacts of vertical integration between insurers and hospitals. In the Chilean market, where half of private hospital capacity is vertically integrated, integration increases inpatient care spending by 6 percent and decreases consumer surplus and total welfare. Integrated insurers offer generous coverage at integrated hospitals, limited access to rival hospitals, and lower premiums. Competition for enrollees forces non-integrated insurers to provide additional coverage to high-quality non-integrated hospitals, resulting in plan networks that limit hospital competition. Whereas vertical integration reduces double marginalization, skewed cost-sharing structures—and their effect on hospital competition—more than compensate, leading to an overall negative welfare impact.

摘要：我们测量了保险公司与医院之间的垂直整合的影响。在智利市场中，私人医院的半数容量是垂直整合的，整合导致住院护理支出增加6%，并减少了消费者剩余和总福利。整合的保险公司在整合医院提供慷慨的保障，对竞争医院的访问受到限制，并且保费较低。对参保者的竞争迫使未整合的保险公司向高质量的非整合医院提供额外保障，导致计划网络限制了医院竞争。虽然垂直整合减少了双重边际化，但扭曲的费用分摊结构及其对医院竞争的影响则更具补偿作用，导致总体福利影响为负。

企业对气候变化的适应

Arti Grover and Matthew E. Kahn #32848

Abstract: We survey the microeconomics literature that studies how firms in the developing world are adapting to extreme weather, local pollution, and natural disasters. Climate change increases the uncertainty that every firm must address as it decides where and how to produce and who to trade with. We study how expectations, market structure and firm heterogeneity determine investment in self-protection. A firm’s resilience also depends on government policies, market insurance access and infrastructure investments. We explore the strategic interactions between firms and governments that together determine firm risk exposure. We discuss benchmarks for measuring adaptation progress at the firm, industry and macroeconomic level.

摘要：我们回顾了研究发展中国家企业如何适应极端天气、地方污染和自然灾害的微观经济学文献。气候变化增加了每个企业在决定生产地点、生产方式和贸易伙伴时必须面对的不确定性。我们研究了预期、市场结构和企业异质性如何决定自我保护的投资。企业的韧性还依赖于政府政策、市场保险的可获取性和基础设施投资。我们探讨了企业与政府之间的战略互动，这些互动共同决定了企业的风险暴露。我们讨论了在企业、行业和宏观经济层面上衡量适应进展的基准。

“曲速行动”能否成为加速创新的模型，超越COVID疫苗？

Arielle D'Souza, Kendall Hoyt, Christopher M. Snyder, and Alec Stapp #32831

Abstract: Operation Warp Speed (OWS) was a U.S. government-led program to accelerate the development, production, and administration of COVID-19 vaccines. The program cut the typical ten-year timeline needed to develop a new vaccine down to ten months and began vaccinating vulnerable populations within a year after launch. OWS’s success has led to calls for a similar mission model to accelerate innovations addressing other pressing social needs, including a cure for Alzheimer’s disease or atmospheric-carbon removal to combat global warming. We provide a framework to understand which innovations call for a mission approach and apply economic principles to identify key design features that contributed to the success of OWS.

摘要：“曲速行动”（Operation Warp Speed, OWS）是一个由美国政府主导的计划，旨在加速COVID-19疫苗的开发、生产和分发。该计划将开发新疫苗通常需要十年的时间缩短至十个月，并在启动后一年内开始对易感人群进行接种。OWS的成功引发了对类似任务模式的呼吁，以加速应对其他紧迫社会需求的创新，例如治疗阿尔茨海默病或去除大气中的碳以应对全球变暖。我们提供了一个框架，用于理解哪些创新需要任务驱动的方法，并应用经济原则来识别对OWS成功贡献的关键设计特征。

技术采纳与职业担忧：来自电影行业数字技术采纳的证据

Grant Goehring, Filippo Mezzanotti, and S. Abraham (Avri) Ravid #32844

Abstract: This paper studies the impact of career concerns on technological change by analyzing the adoption of digital cinematography in the US motion picture industry. This setting allows us to collect rich data on the adoption of this new technology at the project-level (i.e., movie) as well as on the career of the main decision maker (i.e., director). We find that early career directors played a leading role in the adoption of digital technology and that this effect appears to be explained by career concerns, rather than alternative motives we consider and analyze. Technological savviness also plays a role.

摘要：本文研究了职业担忧对技术变革的影响，通过分析美国电影行业数字电影摄影的采纳情况来进行研究。这个背景使我们能够收集到关于新技术在项目层面（即电影）采纳的丰富数据，以及关于主要决策者（即导演）职业的资料。我们发现，职业生涯早期的导演在数字技术的采纳中扮演了重要角色，这一现象似乎是由职业担忧驱动的，而不是由我们考虑和分析的其他动机所解释的。技术能力的高低也发挥了作用。

比我们想象的更小？自动储蓄政策的影响

James J. Choi, David Laibson, Jordan Cammarota, Richard Lombardo, and John Beshears #32828

Abstract: Medium- and long-run dynamics undermine the effect of automatic enrollment and default savings-rate auto-escalation on retirement savings. Our analysis of nine 401(k) plans incorporates the facts that employees frequently leave firms (often before matching contributions from their employer have fully vested), a large percentage of 401(k) balances are withdrawn upon employment separation, and many employees opt out of auto-escalation. Steady-state saving rates increase by 0.6% of income due to automatic enrollment and 0.3% of income due to default auto-escalation. Only 40% of those with an auto-escalation default escalate on their first escalation date, and more opt out later.

摘要：中期和长期动态削弱了自动登记和默认储蓄率自动递增对退休储蓄的影响。我们对九个401(k)计划的分析考虑了以下事实：员工经常离开公司（通常在雇主的匹配贡献完全归属之前），大量401(k)余额在就业离职时被提取，许多员工选择退出自动递增。由于自动登记，稳态储蓄率增加了0.6%的收入；由于默认自动递增，稳态储蓄率增加了0.3%的收入。只有40%的自动递增默认选项的员工在第一次递增日期时选择递增，之后有更多的人选择退出。

学校里程碑对台湾儿童心理健康的影响

Kuan-Ming Chen, Janet Currie, Hui Ding, and Wei-Lun Lo #32842

Abstract: This study uses administrative health insurance records in Taiwan to examine changes in child mental health treatment around four school milestones including: Primary and middle school entry, high stakes testing for high school, and high stakes testing for college entry. Leveraging age cutoffs for school entry in Taiwan, we compare August-born children to children born in September of the same year. The former hit all the milestones one year earlier than the latter, enabling us to identify each milestone’s effect. We find that entry into both primary school and middle schools is associated with increases in mental health prescribing, not only for ADHD but also for depression. Middle school entry is also associated with increases in the prescribing of anti-anxiety and antipsychotic medications. Perhaps surprisingly, there is no run-up in the use of psychiatric medications prior to high-stakes tests. But the use of psychiatric medications falls sharply following the tests. These effects are stronger in counties where both parents and children have higher educational aspirations. Hence, the use of psychiatric drugs increases at junctures when educational stresses increase and falls when these stresses are relieved.

摘要：本研究利用台湾的行政健康保险记录，考察了在四个学校里程碑（包括：小学和中学入学、高中高风险考试、大学入学高风险考试）周围儿童心理健康治疗的变化。通过利用台湾的年龄划分来比较同年8月出生的儿童与9月出生的儿童，我们发现前者比后者早一年经历所有里程碑，从而能够识别每个里程碑的影响。我们发现，小学和中学入学都与心理健康药物处方的增加相关，这不仅包括注意力缺陷多动障碍（ADHD），还包括抑郁症。中学入学还与抗焦虑药物和抗精神病药物的处方增加相关。或许令人惊讶的是，在高风险考试之前，精神科药物的使用并没有增加。但在考试之后，精神科药物的使用则急剧下降。这些效果在父母和孩子都具有更高教育期望的县份中更为显著。因此，心理药物的使用在教育压力增加的节点上增加，而在这些压力缓解时则下降。

公平贸易协定

Francesco Passarelli and Robert W. Staiger #32853

Abstract: The legitimacy of the world trading system is under growing attack, as challenges to its conformity with norms of fairness and social justice are increasingly voiced by citizens and their governments around the world. Taking a novel "bottom up" approach to concerns for fairness, we show how these concerns can be formalized in a general and tractable way, and we describe their implications for the purpose and design of a trade agreement. Our findings suggest that as currently designed, the GATT/WTO is well-equipped to allow its member governments to address many, but not all, of the possible trade-related fairness concerns of their citizens. More generally, our findings point to a detailed understanding of real-world perceptions of fairness in trade policy as the key input into the appropriate design of fair trade agreements.

摘要：世界贸易系统的合法性正面临越来越大的攻击，全球公民及其政府对其符合公平和社会正义规范的挑战声音日益增加。通过一种新颖的“自下而上”方法，我们展示了如何将这些公平关切形式化为一种通用且易于处理的方式，并描述了它们对贸易协议目的和设计的影响。我们的研究发现，按照当前的设计，GATT/WTO 能够很好地允许其成员政府解决许多但不是所有可能的贸易相关公平问题。更普遍地说，我们的研究发现强调了对现实世界中贸易政策公平感知的详细理解是设计公平贸易协议的关键输入。

父母投资与婴幼儿和青少年技能形成：来自早期儿童干预的长期证据

Orazio Attanasio, Darwin Cortes, Dario Maldonado, Paul Rodriguez-Lesmes, Nathalie Charpak, Rejean Tessier, Juan G. Ruiz, Juan Gallego, Tiberio Hernandez, Felipe Uriza, and Andres Gallegos #32851

Abstract: What happens to children during the early years is recognized to be very important for their long run development. It is also increasingly clear that the skills that are relevant for economic success and more generally well-being are multidimensional, including different types of socioemotional skills. In this paper, we look at the long run impacts of an intervention targeted to premature children, known as Kangaroo Mother Care. We do so using data from a randomised control trial performed several decades ago in Bogotá, Colombia, to assess the short run impacts of such an intervention. A large fractions of the participants to that trial were examined over 20 years after the original intervention. We first show that the original intervention had a significant impact on externalizing socio-emotional skills at age 22 and a variety of adult outcomes. We then perform a mediation analysis which involves the estimation of a production function of socioemotional skills and show that the long run impact seems to be explained entirely by an increase on one type of parental investment measured when the participants were 12 months old. Our results also show a remarkable degree of persistence of different types of skills.

摘要：儿童早期经历被认为对其长期发展非常重要。越来越明确的是，与经济成功和整体福祉相关的技能是多维的，包括不同类型的社会情感技能。本文研究了针对早产儿的干预措施——袋鼠式护理（Kangaroo Mother Care）的长期影响。我们使用了几十年前在哥伦比亚波哥大的随机对照试验的数据来评估这种干预的短期影响。试验的大部分参与者在原始干预后的20多年后被重新评估。我们首先展示了原始干预对22岁时外显社会情感技能及各种成人结果产生了显著影响。然后，我们进行了一项中介分析，涉及社会情感技能生产函数的估计，并展示了长期影响似乎完全由参与者在12个月大时的某种类型的父母投资的增加所解释。我们的结果还显示了不同类型技能的显著持久性。

CEO 是否发生了变化？

Yann Decressin, Steven N. Kaplan, and Morten Sorensen #32854

Abstract: Using more than 4,900 assessments, we study changes in the characteristics and objectives of CEOs and top executives since 2001. The same four factors explain roughly half of the variation of assessed CEO characteristics in this larger sample of executive assessments as in Kaplan and Sorensen (2021). After the global financial crisis (GFC), the average interviewed CEO candidate has lower overall ability, is more execution oriented / less interpersonal, less charismatic and less creative/strategic than pre-GFC. Except for overall ability and execution oriented/interpersonal, these differences persist in hired CEOs. Interpersonal or “softer” skills do not increase over time, either for CEO candidates or hired CEOs. Pre- and post-GFC, we find a positive correlation between the ability of assessed CEOs and other C-level executives assessed at the same company, suggesting that higher-ability executives complement each other. Finally, we look at the relation between the objectives for which the CEOs are interviewed and CEO characteristics.

摘要：通过分析超过4,900份评估数据，我们研究了自2001年以来首席执行官（CEO）和高管的特征及目标变化。在这个更大的高管评估样本中，四个因素解释了被评估CEO特征的变化约一半，这与Kaplan和Sorensen（2021）的研究结果相似。在全球金融危机（GFC）之后，平均面试的CEO候选人在整体能力上较低，更倾向于执行导向/人际交往较少，魅力较少且创意/战略性较低，与GFC之前的情况相比。除了整体能力和执行导向/人际交往之外，这些差异在被聘用的CEO中仍然存在。人际交往或“软技能”在时间推移中没有增加，无论是对于CEO候选人还是被聘用的CEO。无论是在GFC之前还是之后，我们发现评估的CEO与公司中其他C级高管的能力之间存在正相关关系，表明高能力的高管之间能够相互补充。最后，我们考察了CEO面试目标与CEO特征之间的关系。

往期精选：

      重磅：学术财经•学术笔记全汇总

重磅：学术财经全球价值链专题学术笔记大汇总（附下载链接失效学术笔记推文）

重磅| 基金申请内部学习和交流

【学术笔记·第37篇】风险和全球供应链：我们知道什么和我们需要知道什么

【学术笔记·第36篇】各有所长：全球供应链风险敞口（Exposure）测度

【学术笔记·第35篇】日本生产者价格指数理论与实证：最终需求-中间需求加总系统

【学术笔记·第34篇】北美自由贸易的贸易和福利影响估计

【学术笔记 第33篇】 英属印度时期铁路：交通基础设施的影响评估（AER）

【学术笔记 第32篇】 技术、地理和贸易(经典EK模型）

【学术笔记 第31篇】2018年贸易战对美国物价和福利的影响

【学术笔记 第30篇】全球价值链和国家部门层面实际有效汇率