The Experts below are selected from a list of 695706 Experts worldwide ranked by ideXlab platform
Raghuram Rajan - One of the best experts on this subject based on the ideXlab platform.
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Business Environment and Firm Entry: Evidence from International Data.” NBER Working Paper, 10380
2016Co-Authors: Luc Laeven, Raghuram RajanAbstract:Abstract: Using a comprehensive database of firms in Western and Eastern Europe, we study how the business environment in a country drives the creation of new firms. Our focus is on regulations governing entry. We find entry regulations hamper entry, especially in industries that naturally should have high entry. Also, value added per employee in naturally “high entry ” industries grows more slowly in countries with onerous regulations on entry. Interestingly, regulatory entry barriers have no adverse effect on entry in corrupt countries, only in less corrupt ones. Taken together, the evidence suggests bureaucratic entry regulations are neither benign nor welfare improving. However, not all regulations inhibit entry. In particular, regulations that enhance the enforcement of intellectual property rights or those that lead to a better developed financial sector do lead to greater entry in industries that do more R&D or industries that need more external finance
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Business Environment and Firm Entry: Evidence from International Data. Working Paper 10380
2004Co-Authors: Luc Laeven, Raghuram Rajan, Robert Hauswald, Simon Johnson, Steve Kaplan, Vojislav Maksimovic, Atif Mian, Michel RobeAbstract:Abstract: Using a comprehensive database of firms in Western and Eastern Europe, we study how the business environment in a country drives the creation of new firms. Our focus is on regulations governing entry. We find entry regulations hamper entry, especially in industries that naturally should have high entry. Also, value added per employee in naturally “high entry ” industries grows more slowly in countries with onerous regulations on entry. The consequences of more restrictive entry barriers are seen, not in young firms, but in older firms, who grow more slowly and to a smaller size. Thus the absence of the disciplining effect of entry has real adverse effects. Interestingly, regulatory entry barriers have no adverse effect on entry in corrupt countries, only in less corrupt ones. Taken together, the evidence suggests bureaucratic entry regulations are neither benign nor welfare improving. However, not all regulations inhibit entry. In particular, regulations that enhance the enforcement of intellectual property rights or those that lead to a better developed financial sector do lead to greater entry in industries that do more R&D or industries that need more external finance. * Klapper is at the World Bank, Laeven is at the World Bank and CEPR, and Rajan is at the IMF an
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Business Environment and Firm Entry: Evidence from International Data. Working Paper 10380
2004Co-Authors: Luc Laeven, Raghuram RajanAbstract:Abstract: Using a comprehensive database of firms in Western and Eastern Europe, we study how the business environment in a country drives the creation of new firms. Our focus is on regulations governing entry. We find entry regulations hamper entry, especially in industries that naturally should have high entry. Also, value added per employee in naturally “high entry ” industries grows more slowly in countries with onerous regulations on entry. Interestingly, regulatory entry barriers have no adverse effect on entry in corrupt countries, only in less corrupt ones. Taken together, the evidence suggests bureaucratic entry regulations are neither benign nor welfare improving. However, not all regulations inhibit entry. In particular, regulations that enhance the enforcement of intellectual property rights or those that lead to a better developed financial sector do lead to greater entry in industries that do more R&D or industries that need more external finance
Constantin Bürgi - One of the best experts on this subject based on the ideXlab platform.
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What is the benefit from publishing a Working Paper in a journal in terms of citations? Evidence from economics
Scientometrics, 2021Co-Authors: Klaus Wohlrabe, Constantin BürgiAbstract:Many Papers in economics that are published in peer reviewed journals are initially released in widely circulated Working Paper series. This raises the question about the benefit of publishing in a peer-reviewed journal in terms of citations. Specifically, we address the question: to what extent does the stamp of approval obtained by publishing in a peer-reviewed journal lead to more subsequent citations for Papers that are already available in Working Paper series? Our data set comprises about 28,000 Working Papers from four major Working Paper series in economics. Using panel data methods, we show that the publication in a peer reviewed journal results in around twice the number of yearly citations relative to Working Papers that never get published in a journal. Our results hold in several robustness checks.
Luc Laeven - One of the best experts on this subject based on the ideXlab platform.
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Business Environment and Firm Entry: Evidence from International Data.” NBER Working Paper, 10380
2016Co-Authors: Luc Laeven, Raghuram RajanAbstract:Abstract: Using a comprehensive database of firms in Western and Eastern Europe, we study how the business environment in a country drives the creation of new firms. Our focus is on regulations governing entry. We find entry regulations hamper entry, especially in industries that naturally should have high entry. Also, value added per employee in naturally “high entry ” industries grows more slowly in countries with onerous regulations on entry. Interestingly, regulatory entry barriers have no adverse effect on entry in corrupt countries, only in less corrupt ones. Taken together, the evidence suggests bureaucratic entry regulations are neither benign nor welfare improving. However, not all regulations inhibit entry. In particular, regulations that enhance the enforcement of intellectual property rights or those that lead to a better developed financial sector do lead to greater entry in industries that do more R&D or industries that need more external finance
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Business Environment and Firm Entry: Evidence from International Data. Working Paper 10380
2004Co-Authors: Luc Laeven, Raghuram Rajan, Robert Hauswald, Simon Johnson, Steve Kaplan, Vojislav Maksimovic, Atif Mian, Michel RobeAbstract:Abstract: Using a comprehensive database of firms in Western and Eastern Europe, we study how the business environment in a country drives the creation of new firms. Our focus is on regulations governing entry. We find entry regulations hamper entry, especially in industries that naturally should have high entry. Also, value added per employee in naturally “high entry ” industries grows more slowly in countries with onerous regulations on entry. The consequences of more restrictive entry barriers are seen, not in young firms, but in older firms, who grow more slowly and to a smaller size. Thus the absence of the disciplining effect of entry has real adverse effects. Interestingly, regulatory entry barriers have no adverse effect on entry in corrupt countries, only in less corrupt ones. Taken together, the evidence suggests bureaucratic entry regulations are neither benign nor welfare improving. However, not all regulations inhibit entry. In particular, regulations that enhance the enforcement of intellectual property rights or those that lead to a better developed financial sector do lead to greater entry in industries that do more R&D or industries that need more external finance. * Klapper is at the World Bank, Laeven is at the World Bank and CEPR, and Rajan is at the IMF an
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Business Environment and Firm Entry: Evidence from International Data. Working Paper 10380
2004Co-Authors: Luc Laeven, Raghuram RajanAbstract:Abstract: Using a comprehensive database of firms in Western and Eastern Europe, we study how the business environment in a country drives the creation of new firms. Our focus is on regulations governing entry. We find entry regulations hamper entry, especially in industries that naturally should have high entry. Also, value added per employee in naturally “high entry ” industries grows more slowly in countries with onerous regulations on entry. Interestingly, regulatory entry barriers have no adverse effect on entry in corrupt countries, only in less corrupt ones. Taken together, the evidence suggests bureaucratic entry regulations are neither benign nor welfare improving. However, not all regulations inhibit entry. In particular, regulations that enhance the enforcement of intellectual property rights or those that lead to a better developed financial sector do lead to greater entry in industries that do more R&D or industries that need more external finance
Klaus Wohlrabe - One of the best experts on this subject based on the ideXlab platform.
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What is the benefit from publishing a Working Paper in a journal in terms of citations? Evidence from economics
Scientometrics, 2021Co-Authors: Klaus Wohlrabe, Constantin BürgiAbstract:Many Papers in economics that are published in peer reviewed journals are initially released in widely circulated Working Paper series. This raises the question about the benefit of publishing in a peer-reviewed journal in terms of citations. Specifically, we address the question: to what extent does the stamp of approval obtained by publishing in a peer-reviewed journal lead to more subsequent citations for Papers that are already available in Working Paper series? Our data set comprises about 28,000 Working Papers from four major Working Paper series in economics. Using panel data methods, we show that the publication in a peer reviewed journal results in around twice the number of yearly citations relative to Working Papers that never get published in a journal. Our results hold in several robustness checks.
Reich Michael - One of the best experts on this subject based on the ideXlab platform.
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Minimum Wage Effects in Low-Wage Areas. Working Paper #106-19
eScholarship University of California, 2019Co-Authors: Godoey Anna, Reich MichaelAbstract:A proposal to raise the federal minimum wage to $15 by 2024 would increase the relative minimum wage – the ratio to the national median wage– to about .68. In Alabama and Mississippi, our two lowest-wage states, the relative minimum wage would rise to .77 and .85, respectively. Yet research on state-level minimum wage policies does not extend beyond $10; the highest studied state-level relative minimum wage is .59. To close this gap we study minimum wage effects in counties and PUMAs where relative minimum wage ratios already reach as high as .82. Using ACS data since 2005 and 51 events, we sort counties and PUMAs according to their relative minimum wages and bites. We report average results for all the events in our sample, and separately for those with lower and higher impacts. We find positive wage effects but do not detect adverse effects on employment, weekly hours or annual weeks worked. We do not find negative employment effects among women, blacks and/or Hispanics. We do find substantial declines in household and child poverty
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Are Local Minimum Wages Too High? Working Paper #102-19
eScholarship University of California, 2019Co-Authors: Nadler Carl, Godoey Anna, Allegretto Sylvia, Reich MichaelAbstract:We measure the effects of six citywide minimum wages that ranged up to $13 in Chicago, the District of Columbia, Oakland, San Francisco, San Jose and Seattle, employing event study and synthetic control methods. Using aggregate data on average earnings and employment in the food services industry, we find significantly positive earnings increases and no significant employment losses. While such evidence suggests the policies raised the earnings of low-wage workers, as intended, a competing explanation is that the industry responds to wage increases by increasing their demand for more productive higher-wage workers, offsetting low-wage layoffs (i.e., labor-labor substitution). To tackle this key question, we present a theoretical framework that connects the responses estimated at the industry-level to the own- and cross-wage labor demand elasticities that summarize the total effect of the policies on workers. Using a calibration exercise, we find that the combination of average earnings gains and constant employment cannot be produced by labor-labor substitution unless there are also effects on hours. To test whether the minimum wage increases demand for higher-wage workers or reduces low-wage workers’ hours, we examine the effects of California’s recent state and local minimum wage policies on the food services industry. There we find no evidence of labor-labor substitution or hours responses. Thus, the most likely explanation for the responses we find in the cities is that the industry’s demand for low-wage workers is inelastic, and the policies raised their earnings
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Can Economic Policies Reduce Deaths of Despair? Working Paper #104-19
eScholarship University of California, 2019Co-Authors: Dow, Wiiliam H, Godoey Anna, Lowenstein, Christopher A, Reich MichaelAbstract:Midlife mortality has risen steadily in the U.S. since the 1990s for non-Hispanic whites without a bachelor’s degree, and since 2013 for Hispanics and African-Americans who lack a bachelor’s degree. These increases largely reflect increased mortality from alcohol poisoning, drug overdose and suicide. We investigate whether these “deaths of despair” trends have been mitigated by two key policies aimed at raising incomes for low wage workers: the minimum wage and the earned income tax credit (EITC). To do so, we leverage state variation in policies over time to estimate difference-in-differences models of drug overdose deaths and suicides, using data on cause-specific mortality rates from 1999-2015. Our causal models find no significant effects of the minimum wage and EITC on drug-related mortality. However, higher minimum wages and EITCs significantly reduce non-drug suicides. A 10 percent increase in the minimum wage reduces non-drug suicides among adults with high school or less by 3.6 percent; a 10 percent increase in the EITC reduces suicides among this group by 5.5 percent. Our estimated models do not find significant effects for a college-educated placebo sample. Event-study models confirm parallel pre-trends, further supporting the validity of our causal research design. Our estimates suggest that increasing both the minimum wage and the EITC by 10 percent would likely prevent a combined total of around 1230 suicides each year
