The NBER Reporter 2011 Number 4: Program and Working Group Meetings

The NBER's Insurance Project, directed by NBER Research Associate Kenneth Froot of Harvard Business School, met in Cambridge on September 17, 2011. NBER Research Associate Howard Kunreuther of the University of Pennsylvania organized the meeting with Froot. These papers were discussed:

Levon Barseghyan, Francesca Molinari, and Edward O'Donoghue, Cornell University, and Joshua Teitelbaum, Georgetown University, "The Nature of Risk Preferences: Evidence from Insurance Choices"

Steven Shavell, Harvard University and NBER, "A General Rationale for a Governmental Role in the Relief of Large Risks"

Erwann Michel-Kerjan, University of Pennsylvania, and Jacqueline Wolkman Wise, Temple University, "The Risk of Ever-Growing Disaster Relief Expectations"

Daniel Bauer and George Zanjani, Georgia State University, "The Marginal Cost of Risk, Risk Measures, and Capital Allocation"

Neil Doherty, University of Pennsylvania,and Christian Laux and Alexander Muermann, Vienna University of Economics and Business, "Insuring Non-Verifiable Losses and the Role of Intermediaries"

Santosh Anagol, University of Pennsylvania, and Shawn A. Cole and Shayak Sarkar, Harvard University, "Bad Advice: Explaining the Persistence of Whole Life Insurance"

Alexander Muermann, Vienna University of Economics and Business, "Asymmetric Information in Automobile Insurance: New Evidence from Telematic Data"

The NBER's Working Group on the Chinese Economy met in Cambridge on September 30 and October 1 and 2, 2011. Shang-Jin Wei of Columbia University, who directs the group, organized the conference with Hanming Fang, University of Pennsylvania and NBER. These papers were discussed:

Xiaobo Zhang, International Food Policy Research Institute, and Xi Chen, Cornell University, "Costly Posturing: Relative Status, Ceremonies and Early Child Development"

Yuyu Chen and Guang Shi, Peking University; Ginger Zhe Jin, University of Maryland and NBER; and Naresh Kumar, University of Iowa, "The Promise of Beijing: Evaluating the Impact of the 2008 Olympic Games on Air Quality" (NBER Working Paper No. 16907)

James Liang, Stanford University, "Evolution of the Labor Market in a Rapidly Developing Country"

David Autor, MIT and NBER; David Dorn, CEMFI; and Gordon H. Hanson, University of California at San Diego and NBER, "The China Syndrome: Local Labor Market Impacts of Import Competition in the United States"

Julian di Giovanni, International Monetary Fund; Andrei Levchenko, University of Michigan and NBER; and Jing Zhang, University of Michigan, "The Global Welfare Impact of China: Trade Integration and Technological Change"

Lisa Cameron and Lata Gangadharan, Monash University; Nisvan Erkal, University of Melbourne; and Xin Meng, Australian National University, "Little Emperors-Behavioral Impacts of China's One-Child Policy"

Julan Du, Chinese University of Hong Kong, and Shang-Jin Wei, "The Gate of Heavenly Peace: A Prism into the Capitalist Success in Communist China"

Chadwick C. Curtis and Steven Lugauer, University of Notre Dame; and Nelson Mark, University of Notre Dame and NBER, "Demographic Patterns and Household Saving in China" (NBER Working Paper No. 16828)

Christopher D. Carroll, Johns Hopkins University, and Olivier Jeanne, Johns Hopkins University and NBER, "A Tractable Model of Precautionary Reserves, Net Foreign Assets, or Sovereign Wealth Funds" (NBER Working Paper No. 15228)

Tuan-Hwee Sng, Northwestern University, "Size and Dynastic Decline: The Principal-Agent Problem in Late Imperial China 1700-1850"

The NBER's Program on International Finance and Macroeconomics met in Cambridge on October 14, 2011. NBER Research Associates Charles Engel, University of Wisconsin, and Linda Tesar, University of Michigan, organized the meeting. These papers were discussed:

Adrien Verdelhan, MIT and NBER, "The Share of Systematic Variation in Bilateral Exchange Rates"

Chadwick C. Curtis and Steven Lugauer, University of Notre Dame, and Nelson Mark, University of Notre Dame and NBER, "Demographic Patterns and Household Saving in China"

Emmanuel Farhi and Gita Gopinath, Harvard University and NBER, and Oleg Itskhoki, Princeton University and NBER, "Fiscal Devaluations"

Marina Azzimonti, University of Texas at Austin; Eva deFrancisco, Towson University; and Vincenzo Quadrini, University of Southern California, "Financial Globalization and the Raising of Public Debt"

Julian di Giovanni, International Monetary Fund; Andrei Levchenko, University of Michigan and NBER; and Jing Zhang, University of Michigan, "The Global Welfare Impact of China: Trade Integration and Technological Change"

Logan Lewis, Federal Reserve Board of Governors, "Exports versus Multinational Production under Nominal Uncertainty"

The NBER's Program on Economic Fluctuations and Growth met in Chicago on October 21. NBER Research Associates George-Marios Angeletos, MIT, and Martin Schneider, Stanford University, organized the meeting. These papers were discussed:

Aysegul Sahin, Joseph Song, and Giorgio Topa, Federal Reserve Bank of New York, and Giovanni L. Violante, New York University and NBER, "Measuring Mismatch in the U.S. Labor Market"

Cristina Arellano, University of Minnesota and NBER; Yan Bai, Federal Reserve Bank of Minneapolis; and Patrick Kehoe, Federal Reserve Bank of Minneapolis and NBER, "Financial Markets and Fluctuations in Uncertainty"

Raghuram Rajan, University of Chicago and NBER, and Rodney Ramcharan, Federal Reserve Board, "The Anatomy of a Credit Crisis: The Boom and Bust in Farm Land Prices in the 1920s"

Per Krusell, Stockholm University and NBER; Toshihiko Mukoyama, University of Virginia; Richard Rogerson, Princeton University and NBER; and Aysegul Sahin, Federal Reserve Bank of New York, "Is Labor Supply Important for Business Cycles?"

Eric R. Sims, University of Notre Dame and NBER, "Permanent and Transitory Technology Shocks and the Behavior of Hours: A Challenge for DSGE Models"

Allen Head, Queen's University; Lucy Qian Liu, International Monetary Fund; Guido Menzio, University of Pennsylvania and NBER; and Randall Wright, University of Wisconsin, Madison and NBER, "Sticky Prices: A New Monetarist Perspective"

The NBER's Program on Labor Studies, directed by David Card of the University of California, Berkeley, met in Cambridge on October 28, 2011. These papers were discussed:

Olivier Deschenes, University of California, Santa Barbara and NBER; Michael Greenstone, MIT and NBER; and Joseph Shapiro, MIT, "Defending Against Environmental Insults: Drugs, Emergencies, Deaths, and the NOx Emission Markets"

Janice Compton, University of Manitoba, and Robert Pollak, Washington University and NBER, "Family Proximity, Childcare, and Women's Labor Force Attachment"

Joseph G. Altonji, Yale University and NBER, and Richard K. Mansfield, Cornell University, "The Contribution of Family, School and Community Characteristics to Inequality in Education and Labor Market Outcomes"

Claudia Olivetti, Boston University and NBER, and Barbara Petrongolo, London School of Economics, "Gender Gaps across Countries and Skills: Supply, Demand, and the Industry Structure" (NBER Working Paper No. 17349)

Alberto Abadie and Guido Imbens, Harvard University and NBER, and Fanyin Zheng, Harvard University, "Robust Inference for Misspecified Models Conditional on Covariates" (NBER Working Paper No. 17442)

Melissa Schettini Kearney, University of Maryland and NBER, and Phillip B. Levine, Wellesley College and NBER, "Early Non-Marital Childbearing and the 'Culture of Despair'"(NBER Working Paper No. 17157)

The NBER's Working Group on Market Design, directed by Susan Athey and Parag A. Pathak of NBER and MIT, met in Cambridge on October 28 and 29, 2011. These papers were discussed:

Tayfun Sonmez, Boston College, and Tobias B. Switzer, U.S. Air Force, "Matching with (Branch-of-Choice) Contracts at United States Military Academy"

John W. Hatfield, Stanford University, and Scott Duke Kominers, University of Chicago, "Multilateral Matching"

Eric Budish, University of Chicago, and Eduardo M. Azevedo, Harvard University, "Strategyproofness in the Large as a Desideratum for Market Design"

Clayton Featherstone, Harvard University,"A Rank-Based Refinement of Ordinal Efficiency and a New (but Familiar) Class of Ordinal Assignment Mechanisms"

Haoxiang Zhu, Stanford University, "Do Dark Pools Harm Price Discovery?"

Mark Satterthwaite, Northwestern University; Steven R. Williams, University of Illinois at Urbana-Champaign; and Konstantinos E. Zachariadis, London School of Economics, "Price Discovery"

Steven Tadelis, University of California at Berkeley and eBay Research Labs, and Florian Zettelmeyer, Northwestern University and NBER, "Information Disclosure as a Matching Mechanism: Theory and Evidence from a Field Experiment"

Tayfun Sonmez and Utku Unver, Boston College, "Altruistically Unbalanced Kidney Exchange"

Itai Ashlagi and David Gamarnik, MIT, and Alvin E. Roth, Harvard University and NBER, "The Need for (long) Chains in Kidney Exchange"

Susan Athey; Ittai Abraham and Moshe Babaioff, Microsoft Research; and Michael Grubb, MIT, "Peaches, Lemons, and Cookies: Designing Auction Markets with Dispersed Information"

Liran Einav and Jonathan D. Levin, Stanford University and NBER; Theresa Kuchler, Stanford University; and Neel Sundaresan, eBay Research Labs, "Learning from Seller Experiments in Online Markets" (NBER Working Paper No. 17385)

Arpita Ghosh and Preston McAfee, Yahoo! Research, "Incentivizing High-Quality User-Generated Content"

Sven Seuken, University of Zurich; David Parkes, Harvard University; Eric Horvitz, Mary Czerwinski, and Desney Tan, Microsoft Research; and Kamal Jain, eBay Research Labs; "Market User Interface Design"

John W. Hatfield and Fuhito Kojima, Stanford University, and Yusuke Narita, MIT, "Promoting School Competition Through School Choice: A Market Design Approach"

Yan Chen, University of Michigan, and Onur Kesten, Carnegie Mellon University, "From Boston to Shanghai to Deferred Acceptance: Theory and Experiments on a Family of School Choice Mechanisms"

Summaries of these papers may be found here.

The NBER's Program on Public Economics (PE) met in Cambridge on November 3 and 4, 2011. The PE Program's Co-Director Raj Chetty of Harvard University and NBER Research Associate Emmanuel Saez of University of California at Berkeley organized this meeting. The following papers were discussed:

Timothy Dowd, Joint Committee on Taxation, and Robert McClelland and Athiphat Muthitacharoen, Congressional Budget Office, "The Tax Elasticity of Capital Gains in the 21st Century"

Peter Brady, Investment Company Institute, and Kevin Pierce, Statistics of Income, Internal Revenue Service, "Using Panel Tax Data to Examine the Transition to Retirement"

Nicholas Turner, Department of the Treasury, "Do Students Profit from For-Profit Education? Estimating the Returns to Postsecondary Education with Tax Data"

Raj Chetty and John Friedman, Harvard University and NBER; Emmanuel Saez; and Nathaniel Hilger and Danny Yagan, Harvard University, "The IRS Databank: Developing a Population Panel Dataset for Tax Policy Research"

Thomas Piketty, Paris School of Economics, and Emmanuel Saez, "A Theory of Optimal Capital Taxation"

Philippe Aghion and William Kerr, Harvard University and NBER; Ufuk Akcigit, University of Pennsylvania and NBER; and Julia Cage, Harvard University, "Taxation, Corruption, and Growth"

Nikolaos Artavanis, Virginia Polytechnic Institute, and Adair Morse and Margarita Tsoutsoura, University of Chicago, "A New Method to Estimate Tax Evasion Using Financial Institution Lending: The Case of Greece"

Saurabh Bhargava, University of Chicago, and Dayanand S. Manoli, University of Los Angeles and NBER, "Why Are Benefits Left on the Table? Assessing Incomplete Take-up with an IRS Field Experiment"

Casey Rothschild, Wellesley College, and Florian Scheuer, Stanford University and NBER, "Optimal Taxation with Rent-Seeking" (NBER Working Paper No. 17035)

Ilyana Kuziemko, Princeton University and NBER; Ryan Buell and Michael I. Norton, Harvard Business School; and Taly Reich, Stanford Graduate School of Business, "Last-Place Aversion: Evidence and Redistributive Implications" (NBER Working Paper No. 17234)

Dina Pomeranz, Harvard University, "No Taxation without Information Deterrence and Self-Enforcement in the Value Added Tax"

Brian G. Knight, Brown University and NBER, "State Gun Policy and Cross-State Externalities: Evidence from Crime Gun Tracing" (NBER Working Paper No. 17469)

The NBER's Program on Asset Pricing met at Stanford University's Graduate School of Business on November 4, 2011. NBER Research Associates Andrew Ang and and Tano Santos of Columbia's Graduate School of Business organized the meeting and chose these papers to discuss:

Lars-Alexander Kuehn, Carnegie Mellon University, and Lukas Schmid, Duke University, "Investment Based Corporate Bond Pricing"

Dirk Hackbarth, University of Illinois at Urbana-Champaign, and Timothy Johnson, London Business School, "Real Options and Risk Dynamics: Implications for the Cross-Section and Time-Series of Expected Returns"

Gara Afonso, Federal Reserve Bank of NY, and Ricardo Lagos, New York University and NBER, "Trade Dynamics in the Market for Federal Funds"

Tim Bollerslev, Duke University and NBER, and Natalia M. Sizova and George Tauchen, Duke University, "Volatility in Equilibrium: Asymmetries and Dynamic Dependencies"

Bryan T. Kelly, University of Chicago; Hanno Lustig, University of California at Los Angeles and NBER; and Stijn Van Nieuwerburgh, New York University and NBER, "Too-Systemic-To-Fail: What Option Markets Imply About Sector-wide Government Guarantees" (NBER Working Paper No. 17149)

Manuel Adelino, Dartmouth College; Antoinette Schoar, MIT and NBER; and Felipe Severino, MIT, "Credit Supply and House Prices: Evidence from Mortgage Market Segmentation"

The NBER's Program on Corporate Finance met at Stanford University's Graduate School of Business on November 4, 2011. NBER Research Associates Bruce Carlin of the University of California, Los Angeles, and Ilya Strebulaev of Stanford University's Graduate School of Business organized the meeting. These papers were discussed:

Andrea Eisfeldt, University of California, Los Angeles, and Tyler Muir, Northwestern University, "The Joint Dynamics of Internal and External Finance"

Hans B. Christensen, University of Chicago Booth School of Business; Luzi Hail, Wharton School, University of Pennsylvania; and Christian Leuz, University of Chicago and NBER, "Capital-Market Effects of Securities Regulation: The Role of Prior Regulation, Implementation and Enforcement" (NBER Working Paper No. 16737)

Alex Edmans, University of Pennsylvania and NBER, "Feedback Effects and the Limits to Arbitrage"

Archishman Chakraborty and Bilge Yilmaz, University of Pennsylvania, "Authority, Consensus, and Governance"

Raymond Fisman and Daniel Paravisini, Columbia University and NBER; and Vikrant Vig, London Business School, "Cultural Proximity and Loan Outcomes"

Shawn A. Cole, Harvard University, and Martin Kanz and Leora F. Klapper, The World Bank, "Incentivizing Calculated Risk-Taking: Evidence from a Series of Experiments with Commercial Bank Loan Officers"

Andrew Hertzberg, Columbia University, "Exponential Individuals, Hyperbolic Households"

The NBER's Monetary Economics Program met in Cambridge on November 4, 2011. NBER Research Associate Julio Rotemberg of Harvard Business School and Faculty Research Fellow Yuriy Gorodnichenko of the University of California, Berkeley, organized this program:

Ruediger Bachmann, University of Michigan and NBER; Tim Berg, Ifo Institute; and Eric R. Sims, University of Notre Dame and NBER, "Inflation Expectations and Readiness to Spend: Cross-Sectional Evidence"

Susanto Basu, Boston College and NBER, and Brent Bundick, Boston College, "Uncertainty Shocks in a Model of Effective Demand"

Atif Mian, University of California, Berkeley and NBER, and Amir Sufi, University of Chicago and NBER, "What Explains High Unemployment? The Aggregate Demand Channel"

Bartosz Mackowiak, European Central Bank, and Mirko Wiederholt, Northwestern University, "Inattention to Rare Events"

Ivan Werning, MIT and NBER, "Managing a Liquidity Trap: Monetary and Fiscal Policy"

Eric M. Leeper, Indiana University and NBER; Nora Traum, North Carolina State University; and Todd B. Walker, Indiana University, "Clearing Up the Fiscal Multiplier Morass"

The Behavioral Economics Working Group held a meeting on Behavioral Finance at Stanford Graduate School of Management on November 5, 2011. NBER Faculty Research Fellows James J. Choi, Yale School of Management, and Lauren Cohen, Harvard Business School, organized the meeting and chose these papers to discuss:

Yen-cheng Chang, Shanghai Advanced Institute for Finance, and Harrison Hong, Princeton University and NBER, "Rules and Regression Discontinuities in Asset Markets"

Dong Lou, London School of Economics, "Attracting Investor Attention through Advertising"

Huina Mao and Johan Bollen, Indiana University-Bloomington, and Scott Counts, Microsoft Research, "Computational Economic and Finance Gauges: Polls, Search, & Twitter"

Yigitcan Karabulut, Goethe University, Frankfurt, "Can Facebook Predict Stock Market Activity?"

David Hirshleifer, University of California at Berkeley, Irvine, and Jianfeng Yu, University of Minnesota, "Asset Pricing in Production Economies with Extrapolative Expectations"

Sebastien Pouget and Stephane Villeneuve, University of Toulouse, "A Mind is a Terrible Thing to Change: Confirmation Bias in Financial Markets"

Ulrike Malmendier, University of California at Berkeley and NBER, and Stefan Nagel, Stanford University and NBER, "Learning from Inflation Experiences"

Victor Stango, University of California at Davis, and Jonathan Zinman, Dartmouth College and NBER, "Borrowing High vs. Borrowing Higher: Sources and Consequences of Dispersion in Individual Borrowing Costs"

The NBER's Program on Education, directed by Caroline M. Hoxby of Stanford University, met at Stanford on November 10 and 11, 2011. The following papers were discussed:

Karthik Muralidharan, University of California at San Diego and NBER, "Long-Term Effects of Teacher Performance Pay: Experimental Evidence from India"

Debopam Bhattacharya, Shin Kanaya, and Margaret Stevens, University of Oxford, "A Test of Fair Treatment with Application to University Admissions"

Robert Fairlie, University of California at Santa Cruz; Florian Hoffmann, University of British Columbia; and Philip Oreopoulos, University of Toronto and NBER, "A Community College Instructor Like Me: Race and Ethnicity Interactions in the Classroom" (NBER Working Paper No. 17381)

Sa Bui and Steven G. Craig, University of Houston, and Scott A. Imberman, University of Houston and NBER, "Is Gifted Education a Bright Idea? Assessing the Impacts of Gifted and Talented Programs on Students" (NBER Working Paper No. 17089)

Rajashri Chakrabarti, Federal Reserve Bank of New York, "Incentives and Responses under No Child Left Behind: Credible Threats and the Role of Competition"

Katja Kaufmann, Fernanda Brollo, and Eliana La Ferrara, Bocconi University, "Learning about the Enforcement of Conditional Welfare Programs and Behavioral Responses: Evidence from Bolsa Familia in Brazil"

Joshua Goodman, Harvard University, "The Wages of Sinistrality: Handedness, Brain Structure, and Human Capital Accumulation"

Todd R. Stinebrickner, University of Western Ontario and NBER, and Ralph Stinebrickner, Berea College, "The Role of Learning about Academic Performance in Determining College Drop-out: Using Unique Expectations Data to Estimate a Simple Structural Model"

Stephanie Riegg Cellini, George Washington University, and Claudia Goldin, Harvard University and NBER, "A Comprehensive View of For-Profit Postsecondary Education and the Role of Title IV in Tuition-Setting"

C. Kirabo Jackson, Northwestern University and NBER, "Single-Sex Schools, Student Achievement, and Course Selection: Evidence from Rule-Based Student Assignments in Trinidad and Tobago" (NBER Working Paper No. 16817)

The NBER's Program on Political Economy, directed by Alberto Alesina of Harvard University, met in Cambridge on November 11, 2011. These papers were discussed:

Quamrul Ashraf, Brown University, and Oded Galor, Brown University and NBER, "Cultural Diversity, Geographical Isolation, and the Origin of the Wealth of Nations"

Ernesto Dal Bo and Frederico Finan, University of California at Berkeley and NBER, and Martin Rossi, University of California at Berkeley, "Strengthening the State Capabilities: the Role of Financial Incentives in the Call for Public Service"

Geoffrey Tate and Liu Yang, University of California at Los Angeles, "Female Leadership and Gender Equity: Evidence from Plant Closure"

Christian Dippel, University of California at Los Angeles, "Forced Coexistence and Economic Development: Evidence from Native American Reservations"

Michael J. Callen and James Long, University of California at San Diego, "Institutional Corruption and Election Fraud: Evidence from a Field Experiment in Afghanistan"

David Rothschild, Yahoo! Research, and Justin Wolfers, University of Pennsylvania and NBER, "Forecasting Elections: Voters Incentives versus Expectations"

An NBER meeting on the Economics of Culture and Institutions took place in Cambridge on November 12, 2011. Paola Giuliano, University of California at Los Angeles and NBER, and Alberto Bisin, New York University and NBER, organized the meeting and chose these papers to discuss:

Avner Greif, Stanford University, and Guido Tabellini, IGIER, "The Clan and the City: Sustaining Cooperation in China and Europe"

Kaivan Munshi and Kenneth Chay, Brown University and NBER, "Black Mobilization after Emancipation: Evidence from Reconstruction and the Great Migration"

Nico Voigtlaender, University of California at Los Angeles and NBER, and Hans-Joachim Voth, Universitat Pompeu Fabra, "Persecution Perpetuated: The Medieval Origins of Anti-Semitic Violence in Nazi Germany" (NBER Working Paper No. 17113)

Matthias Doepke, Northwestern University, and Fabrizio Zilibotti, University of Zurich, "The Intergeneration Transmission of Risk Preferences, Entrepreneurship, and Growth"

Daron Acemoglu, MIT and NBER, and Matthew Jackson, Stanford University, "History and Expectations in the Evolution of Social Norms" (NBER Working Paper No. 17066)

Ingela Alger, Toulouse School of Economics, and Jorgen Weibull, Stockholm School of Economics, "Evolutionary Stability of Social Preferences"

Adeline Delavande, Universidade Nova de Lisboa, and Basit Zafar, Federal Reserve Bank of New York, "Stereotypes and Madrassas: Experimental Evidence from Pakistan"

The NBER's Working Group on Organizational Economics met in Cambridge on November 18 and 19, 2011. The first day's program, organized by Working Group Director Robert S. Gibbons of MIT and Elizabeth Martinez of Massachusetts General Hospital (MGH) focused on "The Organization and Productivity of Healthcare Delivery." Gibbons also organized the second day's program which covered a broad range of topics. The papers discussed were:

Ian Larkin and Desmond Ang, Harvard Business School; Matthew Chao, California Institute of Technology; and Tina Wu, New York University, "How (and How Much) Are Physicians Influenced By Pharmaceutical Sales Calls? A Large-Scale Quasi Experiment Using Archival Data"

Joseph Doyle and Jonathan Gruber, MIT and NBER; John Graves, Vanderbilt University; and Samuel Kleiner, Cornell University and NBER, "Do More Expensive Hospitals Deliver Better Care? Evidence from Ambulance Referral Patterns"

Katherine Kellogg, MIT, "Operating Room: Relational Spaces and Micro-institutional Change in Surgery"

Anna Levine Taub, Northeastern University; Anton Kolotilin, MIT; Robert S. Gibbons; and Ernst R. Berndt, MIT and NBER, "The Heterogeneity of Concentrated Prescribing Behavior: Theory and Evidence from Antipsychotics" (NBER Working Paper No. 16823)

Amitabh Chandra, Harvard University and NBER, and Douglas O. Staiger, Dartmouth College and NBER, "Expertise, Underuse, and Overuse in Healthcare"

James M. Malcomson, Oxford University, "Relational Incentive Contracts with Persistent Private Information"

Maria Guadalupe, Columbia University and NBER, and Hongyi Li and Julie Wulf, Harvard University, "Functional Centralization and the Division of Labor in Management"

Iwan Barankay, University of Pennsylvania, "Gender Differences in Productivity Responses to Performance Rankings: Evidence from a Randomized Workplace Experiment"

Edward P. Lazear and Kathryn L. Shaw, Stanford University and NBER, and Christopher T. Stanton, University of Utah, "The Value of Bosses"

Yanhui Wu, University of Southern California, "Authority, Incentives and Performance: Theory and Evidence from a Chinese Newspaper"

Silke J. Forbes, University of California, San Diego; Mara Lederman, University of Toronto; and Trevor V E. Tombe, Wilfrid Laurier University, "Quality Disclosure and Gaming: Do Employee Incentives Matter?"

Luigi Guiso, EUI, and Luigi Zingales, University of Chicago and NBER, "The Value of Social Networks in Bank Lending"