194 real negative results, null findings, and replication failures in Economics, Econometrics and Finance · Negative / Null Result Report. Search the index →
WASTE indexes published research — it does not host or republish full papers. Each entry is a metadata record compiled from open scholarly databases; the abstract is shown in full only where the paper is openly licensed, otherwise a short excerpt under fair use. Classifications are automated and approximate.
Katherine Baicker, Sarah Taubman, Heidi Allen et al. · 2013 · New England Journal of Medicine
BACKGROUND: Despite the imminent expansion of Medicaid coverage for low-income adults, the effects of expanding coverage are unclear. The 2008 Medicaid expansion in Oregon based on lottery drawings from a waiting list provided an…
View details →Dean Karlan, Jonathan Zinman · 2011 · Science
Microcredit institutions spend billions of dollars fighting poverty by making small loans primarily to female entrepreneurs. Proponents argue that microcredit mitigates market failures, spurs micro-enterprise growth, and boosts borrowers'…
View details →Larelle Chapple, Peter Clarkson, Daniel L. Gold · 2013 · Abacus
In M arch 2008, the A ustralian Government announced its intention to introduce a national Emissions Trading Scheme ( ETS ), now expected to start in 2015. This impending development provides an ideal setting to investigate the impact an…
View details →Silvana Tenreyro, Gregory Thwaites · 2013
We estimate the impulse response of key US macro series to the monetary policy shocks identified by Romer and Romer (2004), allowing the response to depend flexibly on the state of the business cycle. We find strong evidence that the…
View details →Niklas Potrafke · 2014 · World Economy
Abstract Globalisation is blamed for many socioeconomic shortcomings. I discuss the consequences of globalisation by surveying the empirical globalisation literature. My focus is on the KOF indices of globalisation that have been used in…
View details →Boris Podobnik, Zhi‐Qiang Jiang, Wei‐Xing Zhou et al. · 2011 · Physical Review E
For stationary time series, the cross-covariance and the cross-correlation as functions of time lag $n$ serve to quantify the similarity of two time series. The latter measure is also used to assess whether the cross-correlations are…
View details →Kangyin Dong, Xiucheng Dong, Qingzhe Jiang · 2019 · World Economy
Abstract Significant difference in the emission–renewables nexus across countries with different income levels is frequently ignored in previous studies. To empirically investigate whether the effect of renewable energy consumption on…
View details →Antonio Trujillo‐Ponce · 2012 · Accounting and Finance
Abstract This paper empirically analyses the factors that determine the profitability of Spanish banks for the period of 1999–2009. We conclude that the high bank profitability during these years is associated with a large percentage of…
View details →Bruno Crépon, Florencia Devoto, Esther Duflo et al. · 2015 · American Economic Journal Applied Economics
We report results from a randomized evaluation of a microcredit program introduced in rural areas of Morocco in 2006. Thirteen percent of the households in treatment villages took a loan, and none in control villages did. Among households…
View details →Marcel Fafchamps, Bart Minten · 2012 · The World Bank Economic Review
This study estimates the benefits that Indian farmers derive from market and weather information delivered to their mobile phones by a commercial service called Reuters Market Light (RML). We conduct a controlled randomized experiment in…
View details →Diane Del Guercio, Jonathan Reuter · 2013 · The Journal of Finance
ABSTRACT To rationalize the well‐known underperformance of the average actively managed mutual fund, we exploit the fact that retail funds in different market segments compete for different types of investors. Within the segment of funds…
View details →Zarek Brot-Goldberg, Amitabh Chandra, Benjamin Handel et al. · 2017 · The Quarterly Journal of Economics
Abstract Measuring consumer responsiveness to medical care prices is a central issue in health economics and a key ingredient in the optimal design and regulation of health insurance markets. We leverage a natural experiment at a large…
View details →Gerhard Kling, Ulrich Volz, Victor Murinde et al. · 2020 · World Development
This article presents the first systematic investigation of the effects of climate-related vulnerability on firms’ cost of capital and access to finance and sheds light on a hitherto under-appreciated cost of climate change for climate vulnerable developing economies. We first show theoretically how climate vulnerability could affect firms’ cost of capital and access to finance. Apart from a possible impact on cost of debt and equity, which drive cost of capital, firms in countries with high exposure to climate risk might be more financially constrained. The latter results in low levels of deb
View details →David Arnold, Will Dobbie, Crystal Yang · 2018 · The Quarterly Journal of Economics
Abstract This article develops a new test for identifying racial bias in the context of bail decisions—a high-stakes setting with large disparities between white and black defendants. We motivate our analysis using Becker’s model of racial…
View details →Andra C. Ghent, Marianna Kudlyak · 2011 · Review of Financial Studies
We quantify the effect of recourse on default and find that recourse affects default by lowering the borrower's sensitivity to negative equity. At the mean value of the default option for defaulted loans, borrowers are 30% more likely to…
View details →Atif Mian, Amir Sufi · 2012 · The Quarterly Journal of Economics
Abstract We evaluate the impact of the 2009 Cash for Clunkers program on short- and medium-run auto purchases. Our empirical strategy exploits variation across U.S. cities in ex ante exposure to the program as measured by the number of…
View details →Michael T. Owyang, Valerie Ramey, Sarah Zubairy · 2013 · American Economic Review
A key question that has arisen during recent debates is whether government spending multipliers are larger during times when resources are idle. This paper seeks to shed light on this question by analyzing new quarterly historical data…
View details →Charles Courtemanche, James Marton, Benjamin Ukert et al. · 2016 · Journal of Policy Analysis and Management
The Affordable Care Act (ACA) aimed to achieve nearly universal health insurance coverage in the United States through a combination of insurance market reforms, mandates, subsidies, health insurance exchanges, and Medicaid expansions,…
View details →Manuela Angelucci, Dean Karlan, Jonathan Zinman · 2015 · American Economic Journal Applied Economics
We use a clustered randomized trial, and over 16,000 household surveys, to estimate impacts at the community level from a group lending expansion at 110 percent APR by the largest microlender in Mexico. We find no evidence of…
View details →Eric T. Swanson · 2011 · Brookings Papers on Economic Activity
This paper undertakes a modern event-study analysis of Operation Twist and uses its estimated effects to assess what should be expected for the recent policy of quantitative easing by the Federal Reserve, dubbed “QE2.” The paper first…
View details →Dion Bongaerts, De Jong, FCJM, Driessen, JJAG · 2011 · EUR Research Repository (Erasmus University Rotterdam)
We derive an equilibrium asset pricing model incorporating liquidity risk, derivative assets, and short-selling due to hedging of non-traded risk. We show that, both for positive-net-supply assets and derivatives, the sign of liquidity…
View details →Elroy Dimson, Paul Marsh, Mike Staunton · 2020 · The Journal of Portfolio Management
Responsible investors require data to underpin their stock and sector selections. Regardless of the rating agency, bond ratings for a particular issuer are broadly similar. This is not the case for ESG ratings. Companies with a high score…
View details →Manuel R. Agosín, Roberto Álvarez, Claudio Bravo‐Ortega · 2011 · World Economy
Abstract Using a large dataset for 79 countries covering the period 1962–2000, this study analyses the main determinants of export diversification (concentration). We explore the role of several factors and we use three different…
View details →Ravi Jagannathan, Alexey Malakhov, Dmitry A. Novikov · 2010 · The Journal of Finance
ABSTRACT In measuring performance persistence, we use hedge fund style benchmarks. This allows us to identify managers with valuable skills, and also to control for option‐like features inherent in returns from hedge fund strategies. We…
View details →Thomas P. Lyon, Haitao Yin · 2010 · The Energy Journal
Renewable portfolio standards (RPSs) for electricity generation are politically popular in many U.S. states although economic analysis suggests they are not first-best policies. We present an empirical analysis of the political and…
View details →Raymond Kan, Cesare Robotti, Jay Shanken · 2013 · The Journal of Finance
ABSTRACT Over the years, many asset pricing studies have employed the sample cross‐sectional regression (CSR) R 2 as a measure of model performance. We derive the asymptotic distribution of this statistic and develop associated model…
View details →Hakan Berument, Nildağ Başak Ceylan, Nükhet Doğan · 2010 · The Energy Journal
This paper examines how oil price shocks affect the output growth of selected MENA countries that are considered either net exporters or net importers of this commodity, but are too small to affect oil prices. That an individual country’s…
View details →Suresh de Mel, David McKenzie, Christopher Woodruff · 2013 · American Economic Journal Applied Economics
A field experiment in Sri Lanka provides informal firms incentives to formalize. Information about the registration process and reimbursement of direct costs does not increase registration. Payments equivalent to one-half to one month (alternatively, two months) of the median firm's profits leads to registration of around one-fifth (alternatively, one-half) of firms. Land ownership issues are the most common reason for not registering. Follow-up surveys 15 to 31 months later show higher mean profits, but largely in a few firms that grew rapidly. We find little evidence for other changes in beh
View details →Bahattin Büyükşahin, Jeffrey H. Harris · 2011 · The Energy Journal
The coincident rise in crude oil prices and increased number of financial participants in the crude oil futures market from 2000-2008 has led to allegations that “speculators” drive crude oil prices. As crude oil futures peaked at $147/bbl in July 2008, the role of speculators came under heated debate. In this paper, we employ unique data from the U.S. Commodity Futures Trading Commission (CFTC) to test the relation between crude oil prices and the trading positions of various types of traders in the crude oil futures market. We employ Granger Causality tests to analyze lead and lag relations
View details →Jože P. Damijan, Črt Kostevc, Sašo Polanec · 2010 · World Economy
Abstract Firm productivity and export decisions are closely related to innovation activity. Innovation may play a more important role in the decision to start exporting, and successful exporting may drive process innovation. This suggests…
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