AMPF Papers

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Policy Note

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May 2024

Still Too Big to Fail?

Beatrice WEDER DI MAURO
After a decade of reforms aimed at ensuring no bank is too-big-to-fail, the collapse of Credit Suisse served as the first real-life test of this framework. A resolution following the international and Swiss too-big-to-fail framework would have involved recapitalizing Credit Suisse by bailing in all ...
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Annual Conference

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Labour Economics

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May 2024

Differential Fertility and Economic Opportunity: Evidence from China’s One-Child Policy

Yewen YU, Yi FAN, Junjian YI
Using China's one-child policy (OCP) as a quasi-natural experiment, we demonstrate that differential fertility between socioeconomic groups exacerbates intergenerational income inequality. Rural or poorer families, who are less constrained by the OCP than urban or richer ones, tend to have more chil...
Keywords: Child quantity–quality trade-off, Differential fertility, Intergenerational transmission of inequality, One-child policy
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Annual Conference

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Labour Economics

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May 2024

The Dual Local Markets: Family, Jobs, and the Spatial Distribution of Skills

Jingting FAN, Ben ZOU
We study how the interactions between the local labor market and the local marriage market determine the spatial distribution of economic activities. We develop the first spatial equilibrium model with endogenous marriage formation. Calibrating the model to U.S. cities, we find that despite strong p...
Keywords: quantitative spatial models, spatial distribution of economic activities, local marriage market
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Annual Conference

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Labour Economics

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May 2024

Peers Affect Personality Development

Xiaoyue SHAN, Ulf ZOLITZ
Do people around us influence our personality? We study this question with a field experiment where we randomly assign university students to study groups. We find personality spillovers along three dimensions: students become more conscientious when assigned to conscientious peers, more open-minded...
Keywords: personality, spillovers, field experiment, peer effects
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Annual Conference

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Labour Economics

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May 2024

Remotely Productive: The Efficacy of Remote Work for Executives

Ran DUCHIN, Denis SOSYURA
We study the efficacy of remote working arrangements between CEOs and firms. Long-distance CEOs underperform according to operating performance, firm valuation, insider reviews, and announcement returns to CEO departures. These effects are stronger when the CEO lives further away and crosses multipl...
Keywords: CEO, family, private benefits, remote work, commuting
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