Call For Papers: Coevolution of Financial and Technological Innovations

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May 26, 2023

Call for Papers: The Coevolution of Financial and Technological Innovations, Research Policy Special Issue .

Detecting Potential Overbilling in Medicare Reimbursement via Hours Worked

By Hanming Fang and Qing Gong

American Economic Review, February 2017

We propose a novel and easy-to-implement approach to detect potential overbilling based on the hours worked implied by the service codes which physicians submit to Medicare. Using the Medicare Part B Fee-for-Service (FFS) Physician Utilization and Payment...

Detecting Potential Overbilling in Medicare Reimbursement via Hours Worked: Comment

By Brett Matsumoto

American Economic Review, December 2020

Fang and Gong (2017) develop a procedure to detect potential overbilling of Medicare by physicians. In their empirical analysis, they use aggregated claims data that can overstate the number of services performed due to features of Medicare billing. In th...

Detecting Potential Overbilling in Medicare Reimbursement via Hours Worked: Reply

By Hanming Fang and Qing Gong

American Economic Review, December 2020

Matsumoto (2020) pointed out data and coding errors in Fang and Gong (2017). We show that these errors have limited impacts: all qualitative findings remain after correcting them. Matsumoto also discussed potential service overcounting in the aggregated u...

Steering the Climate System: Using Inertia to Lower the Cost of Policy

By Derek Lemoine and Ivan Rudik

American Economic Review, October 2017

Common views hold that the efficient way to limit warming to a chosen level is to price carbon emissions at a rate that increases exponentially. We show that this Hotelling tax on carbon emissions is actually inefficient. The least-cost policy path takes ...

Steering the Climate System: Using Inertia to Lower the Cost of Policy: Comment

By Linus Mattauch, H. Damon Matthews, Richard Millar, Armon Rezai, Susan Solomon, and Frank Venmans

American Economic Review, April 2020

Lemoine and Rudik (2017) argues that it is efficient to delay reducing carbon emissions, due to supposed inertia in the climate system's response to emissions. This conclusion rests upon misunderstanding the relevant earth system modeling: there is no sub...

Steering the Climate System: Using Inertia to Lower the Cost of Policy: Reply

By Derek Lemoine and Ivan Rudik

American Economic Review, April 2020

Mattauch et al. (2020) claims that the quantitative conclusions in Lemoine and Rudik (2017)—henceforth, LR17—are not robust to using a climate model consistent with recent scientific results. We observe that LR17 in fact analyzes an extension to a mor...

Real Effects of Markets on Politics: Evidence from US Presidential Elections

By Alan D. Crane, Andrew Koch, and Leming Lin

American Economic Review: Insights, March 2024

Despite the economic importance of the US stock market, there is strikingly little evidence of its impact on elections. Using county-level variation in stock market participation, we document the impact of market returns on election outcomes. High-partici...

Race and the Mismeasure of School Quality

By Joshua Angrist, Peter Hull, Parag A. Pathak, and Christopher R. Walters

American Economic Review: Insights, March 2024

In large urban districts, schools enrolling more White students tend to have higher performance ratings. We use an instrumental variables strategy leveraging centralized school assignment to explore this relationship. Estimates from Denver and New York Ci...

Interest Rates and the Spatial Polarization of Housing Markets

By Francisco Amaral, Martin Dohmen, Sebastian Kohl, and Moritz Schularick

American Economic Review: Insights, March 2024

Rising within-country differences in house values are a much-debated trend in the United States and internationally. Using new long-run regional data for 15 advanced economies, we show that standard explanations linking growing price dispersion to rent di...

Wage Garnishment in the United States: New Facts from Administrative Payroll Records

By Anthony A. DeFusco, Brandon Enriquez, and Maggie Yellen

American Economic Review: Insights, March 2024

Wage garnishment allows creditors to deduct money from workers' paychecks to repay defaulted debts. We document new facts about wage garnishment between 2014 and 2019 using data from a large payroll processor that distributes paychecks to approximately 20...

Can Financial Incentives to Firms Improve Apprenticeship Training? Experimental Evidence from Ghana

By Gabriel Brown, Morgan Hardy, Isaac Mbiti, Jamie McCasland, and Isabelle Salcher

American Economic Review: Insights, March 2024

We use a field experiment to test whether financial incentives can improve the quality of apprenticeship training. Trainers (firm owners) in the treatment group participated in a tournament incentive scheme where they received a payment based on their app...

The Irrelevance of Fee Structures for Certification

By Martin Pollrich and Roland Strausz

American Economic Review: Insights, March 2024

In models of certification, possible restrictions on the nature of the fee structures are commonly analyzed. We show that they are irrelevant for the certifier's ability to maximize profits and trade efficiency. Our results establish that certification sc...

Steady-State Social Distancing and Vaccination

By Christopher Avery, Frederick Chen, and David McAdams

American Economic Review: Insights, March 2024

This paper analyzes an economic-epidemiological model of infectious disease where it is possible to become infected more than once and individual agents make endogenous choices of social distancing and vaccine adoption. Protective actions adopted by any o...

The Marginal Disutility from Corruption in Social Programs: Evidence from Program Administrators and Beneficiaries

By Arya Gaduh, Rema Hanna, and Benjamin A. Olken

American Economic Review: Insights, March 2024

Concerns about fraud in welfare programs are common arguments worldwide against such programs. We conducted a survey experiment with over 28,000 welfare program administrators and over 19,000 beneficiaries in Indonesia to elicit the "marginal disutility f...

Cash and Conflict: Large-Scale Experimental Evidence from Niger

By Patrick Premand and Dominic Rohner

American Economic Review: Insights, March 2024

Conflict undermines development, while adverse economic shocks, in turn, can increase conflict risk. Policy interventions such as cash transfers could attenuate conflict risk by raising poor households' opportunity costs. However, cash transfers may also ...

Front Matter

American Economic Review: Insights, March 2024

Immigrant Communities and Knowledge Spillovers: Danish Americans and the Development of the Dairy Industry in the United States

By Nina Boberg-Fazlić and Paul Sharp

American Economic Journal: Macroeconomics, January 2024

Despite the growing literature on the impact of immigration, little is known about the role existing migrant settlements can play for knowledge transmission and the location of industry. We present a case that can illustrate this important mechanism and h...

Monetary Policy and Rational Asset Price Bubbles: Comment

By Jianjun Miao, Zhouxiang Shen, and Pengfei Wang

American Economic Review, May 2019

We revisit Galí’s (2014) analysis by extending his model to incorporate persistent bubble shocks. We find that, under adaptive learning, a stable bubbly steady state and the associated sunspot solutions under optimal monetary policy are not E-stable. W...

Front Matter

American Economic Review, March 2024