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National Bureau of Economic Research Latest Working Papers during the week of July 10, 2017

The following NBER Working Papers were released in electronic format this week. Abbreviations in parentheses refer to NBER Research Programs. (visit http://www.nber.org/programs for Program information.)

1.  Double/Debiased Machine Learning for Treatment and Structural Parameters by Victor Chernozhukov, Denis Chetverikov, Mert Demirer, Esther Duflo, Christian Hansen, Whitney Newey, James Robins #23564 (AG DEV LS)
http://papers.nber.org/papers/w23564?utm_campaign=ntw&utm_medium=email&utm_source=ntw

2.  Populism and the Economics of Globalization by Dani Rodrik #23559 (IFM ITI POL) http://papers.nber.org/papers/w23559?utm_campaign=ntw&utm_medium=email&utm_source=ntw

3.  Investing in the Presence of Massive Flows: The Case of MSCI Country Reclassifications by Terence C. Burnham, Harry Gakidis, Jeffrey Wurgler #23557 (AP) http://papers.nber.org/papers/w23557?utm_campaign=ntw&utm_medium=email&utm_source=ntw

4.  The Shifting Drivers of Global Liquidity by Stefan Avdjiev, Leonardo Gambacorta, Linda S. Goldberg, Stefano Schiaffi #23565 (IFM ME) http://papers.nber.org/papers/w23565?utm_campaign=ntw&utm_medium=email&utm_source=ntw

5.  How Soon Is Now? Evidence of Present Bias from Convex Time Budget Experiments by Uttara Balakrishnan, Johannes Haushofer, Pamela Jakiela #23558 (DEV) http://papers.nber.org/papers/w23558?utm_campaign=ntw&utm_medium=email&utm_source=ntw

6.  Opening Access: Banks and Politics in New York from the Revolution to the Civil War by Howard Bodenhorn #23560 (DAE) http://papers.nber.org/papers/w23560?utm_campaign=ntw&utm_medium=email&utm_source=ntw

7.  The Economics of Value Investing by Kewei Hou, Haitao Mo, Chen Xue, Lu Zhang #23563 (AP CF) http://papers.nber.org/papers/w23563?utm_campaign=ntw&utm_medium=email&utm_source=ntw

8.  The Global Factor in Neutral Policy Rates: Some Implications for Exchange Rates, Monetary Policy, and Policy Coordination by Richard H. Clarida #23562 (IFM) http://papers.nber.org/papers/w23562?utm_campaign=ntw&utm_medium=email&utm_source=ntw

9.  Institutional Investors and Information Acquisition: Implications for Asset Prices and Informational Efficiency
by Matthijs Breugem, Adrian Buss #23561 (AP) http://papers.nber.org/papers/w23561?utm_campaign=ntw&utm_medium=email&utm_source=ntw

10.  What Do Consumers Consider Before They Choose? Identification from Asymmetric Demand Responses by Jason Abaluck, Abi Adams #23566 (AG HC HE PE) http://papers.nber.org/papers/w23566?utm_campaign=ntw&utm_medium=email&utm_source=ntw

 

Courtesy: NBER

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Applied Economic Perspectives and Policy, Volume 39, Issue 2 June 2017

FEATURED ARTICLES

Agricultural Index Insurance for Development by  Nathaniel Jensen; Christopher Barrett

USDA Forecasts Of Crop Ending Stocks: How Well Have They Performed?  by Jinzhi XiaoChad E. HartSergio H. Lence

Research Policy , Volume 46, Issue 6, July 2017

Articles

Interdisciplinary and collaborative work: Framing promotion and tenure practices and policies by Julie Thompson Klein, Holly J. Falk-Krzesinski

But what will it cost me? How do private costs of participation affect open source software projects? by Mazhar Islam, Jacob Miller, Haemin Dennis Park

Incumbents’ diversification and cross-sectorial energy industry dynamics by Markus Steen, Tyson Weaver

Towards evidence-based management of external resources: Developing design propositions and future research avenues through research synthesis by Kari Tanskanen, Tuomas Ahola, Anna Aminoff, Johanna Bragge, Riikka Kaipia, Katri Kauppi

Does innovation policy attract international competition? Evidence from energy storage by Kira R. Fabrizio, Sharon Poczter, Bennet A. Zelner

Direct and cross scheme effects in a research and development by Hanna Hottenrott, Cindy Lopes-Bento, Reinhilde Veugelers

Commercialization Strategy and IPO Underpricing by Serena Morricone, Federico Munari, Raffaele Oriani, Gaetan de Rassenfosse

Firm performance and state innovation funding: Evidence from China’s Innofund program by Yanbo Wang, Jizhen Li, Jeffrey L. Furman

The role of relative performance in inter-firm mobility of inventors by Francesco Di Lorenzo, Paul Almeida

Cities, immigrant diversity, and complex problem solving by Abigail Cooke, Thomas Kemeny

URL: http://www.sciencedirect.com/science/journal/00487333/46/6?sdc=1

Courtesy: Sciencedirect

Journal of Macroeconomics, Volume 52, June 2017

The Developing Economies, Volume 55, Issue 2, June 2017

Articles

The Long Economic and Political Shadow of History, Volume 3

Stelios Michalopoulos, Elias Papaioannou
Centre for Economic Policy Research, 06 March 2017

This e-book is the final volume in a series of three examining the shadow that history casts over various aspects of the economy and the polity. In particular, this volume turns its gaze on Europe and the Americas as it examines how key events from the past shaped the societies they travelled through and inform the economies of the modern world.

url – http://voxeu.org/content/long-economic-and-political-shadow-history-volume-3
courtesy – VOX, CEPR

On-the-Job Training: Returns, Barriers to Provision, and Policy Implications

Priyam Saraf
World Bank Policy Research Working Paper, June 2017

Firms that provide on-the-job training do so when it is critical to their productivity—and when productivity is critical to their survival. This paper begins by confirming a significant and positive return from on-the-job training on wages and productivity, as well as the presence of positive externalities from on-the-job training, while discussing the methodological considerations at play. The paper then reviews and validates the presence of market failures such as information asymmetries within the firm as a result of low-quality management practices that dampen firm demand for on-the-job training. Lack of competition in the firm’s external environment appears to undermine adoption of on-the-job training and other complementary productivity-enhancing activities within the firm. The literature suggests that for most firms, a comprehensive policy approach that resolves external constraints to becoming more productive is likely to have a positive impact on the provision of on-the-job training and adoption of complementary policies. More direct forms of firm-level support to improve management capabilities could also alleviate under-provision of on-the-job training. Where societies have improved welfare as a goal, public policy measures would be needed to complement on-the-job training for some specific groups of workers (older, less educated, women). In essence, the paper highlights the importance of demand-side constraints for firms, rather than supply-side constraints, for the provision of on-the-job training.

url – https://elibrary.worldbank.org/doi/abs/10.1596/1813-9450-8090
courtesy – The World Bank