Michael Greenstone
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Benjamin A. Olken
B ENJAMIN A. O LKEN MIT Department of Economics, 50 Memorial Drive, Cambridge MA 02142 (617) 253-6833 email: [email protected] web: econ-www.mit.edu/faculty/bolken Date of Birth: April 1975 Education 2004 Ph.D., Economics, Harvard University 1997 B.A. summa cum laude, Ethics, Politics, and Economics; Mathematics, Yale University Employment 2008 – present Associate Professor of Economics (with tenure), Department of Economics, Massachusetts Institute of Technology 2010 – 2011 Visiting Associate Professor of Economics, University of Chicago Booth School 2005 – 2008 Junior Fellow, Harvard Society of Fellows 2004 – 2005 Health and Aging Post-Doctoral Fellow, National Bureau of Economic Research 2001 – 2008 Consultant, The World Bank, Jakarta Office 1998 – 1999 Business Analyst, McKinsey and Company, New York 1997 – 1998 Luce Scholar in Economic Policy, The Castle Group, Jakarta Other Affiliations 2010 – present Co-Chair of Governance Initiative and Member of Board of Directors Executive Committe, Jameel Poverty Actio1n Lab (J-PAL) 2010 – present Fellow, Bureau for Economic Analysis of Development (BREAD) 2009 – present Research Associate, National Bureau of Economic Research (NBER) 2006 – present Research Affiliate, Centre for Economic Policy Research (CEPR) 2005 – 2010 Member, Jameel Poverty Action Lab (J-PAL) 2006 – 2010 Affiliate, Bureau for Economic Analysis of Development (BREAD) 2005 – 2009 Faculty Research Fellow, National Bureau of Economic Research (NBER) 2005 – 2008 Visiting Scholar, MIT Department of Economics and Poverty Action Lab -
The Influence of Randomized Controlled Trials on Development Economics Research and on Development Policy
The Influence of Randomized Controlled Trials on Development Economics Research and on Development Policy Paper prepared for “The State of Economics, The State of the World” Conference proceedings volume Abhijit Vinayak Banerjee Esther Duflo Michael Kremer12 September 11, 2016 Many (though by no means all) of the questions that development economists and policymakers ask themselves are causal in nature: What would be the impact of adding computers in classrooms? What is the price elasticity of demand for preventive health products? Would increasing interest rates lead to an increase in default rates? Decades ago, the statistician Fisher proposed a method to answer such causal questions: Randomized Controlled Trials (RCT) (Fisher, 1925). In an RCT, the assignment of different units to different treatment groups is chosen randomly. This insures that no unobservable characteristics of the units is reflected in the assignment, and hence that any difference between treatment and control units reflects the impact of the treatment. While the idea is simple, the implementation in the field can be more involved, and it took some time before randomization was considered to be a practical tool for answering questions in social science research in general, and in development economics more specifically. 1 Abhijit Banerjee and Esther Duflo are in the department of economics at MIT and co-director of J-PAL Michael Kremer is in the department of economics at Harvard and serves as part-time Scientific Director of Development Innovation Ventures at USAID, which has also funded research by both Banerjee and Duflo. The views expressed in this document reflect the personal opinions of the author and are entirely the author’s own. -
Understanding Development and Poverty Alleviation
14 OCTOBER 2019 Scientific Background on the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2019 UNDERSTANDING DEVELOPMENT AND POVERTY ALLEVIATION The Committee for the Prize in Economic Sciences in Memory of Alfred Nobel THE ROYAL SWEDISH ACADEMY OF SCIENCES, founded in 1739, is an independent organisation whose overall objective is to promote the sciences and strengthen their influence in society. The Academy takes special responsibility for the natural sciences and mathematics, but endeavours to promote the exchange of ideas between various disciplines. BOX 50005 (LILLA FRESCATIVÄGEN 4 A), SE-104 05 STOCKHOLM, SWEDEN TEL +46 8 673 95 00, [email protected] WWW.KVA.SE Scientific Background on the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2019 Understanding Development and Poverty Alleviation The Committee for the Prize in Economic Sciences in Memory of Alfred Nobel October 14, 2019 Despite massive progress in the past few decades, global poverty — in all its different dimensions — remains a broad and entrenched problem. For example, today, more than 700 million people subsist on extremely low incomes. Every year, five million children under five die of diseases that often could have been prevented or treated by a handful of proven interventions. Today, a large majority of children in low- and middle-income countries attend primary school, but many of them leave school lacking proficiency in reading, writing and mathematics. How to effectively reduce global poverty remains one of humankind’s most pressing questions. It is also one of the biggest questions facing the discipline of economics since its very inception. -
Ec 1530 Reading List Becker Chapters 1 and 2 J. Angrist and A
Ec 1530 Reading List Becker Chapters 1 and 2 J. Angrist and A. Krueger "Instrumental variables and the search for identification: From supply and demand to natural experiments" J of Economic Perspectives 15(4):69‐85 2001 Banerjee and Duflo, 2011, Chapters 1 and 2 Pitt, Mark, "Food Preferences and Nutrition in Rural Bangladesh," Review of Economics and Statistics, February 1983, 105‐114. [JSTOR] Jensen, Robert and Nolan Miller (2008). “Giffen Behavior and Subsistence Consumption,” American Economic Review, 98(4), p. 1553 − 1577. [jstor] M. Ravallion, "The performance of rice markets in Bangladesh during the 1974 famine", Oxford Economic Journal 95 (377): 15‐29 A.D. Foster, "Prices, Credit Constraints, and Child Growth in Rural Bangladesh", Economic. Journal, 105(430): 551‐570, May 1995 JM Cunha, G DeGiorgi, S Jayachandran, NBER 17456The Price Effects of Cash Versus In‐Kind Transfers Banerjee and Duflo, Chapter 3 'Bliss, Christopher and N.H. Stern, "Productivity, Wages and Nutrition, Part I Journal of Development Economics, 1978, 331‐398. [E‐journal] J. Strauss, "Does better nutrion raise farm productivity", JPE, 94(2) 297‐320. Foster, Andrew D. and Mark R. Rosenzweig, "A Test for Moral Hazard in the Labor Market: Contractual Arrangements, Effort and Health," Review of Economic and Statistics, May 1994, 213‐227. [JSTOR] Banerjee and Duflo Chapter 4 Andrew Foster and Mark Rosenzweig, "Technical change and human capital returns and investments: Evidence from the Green Revoloution", American Economic Review 86(4): 931‐53 [jstor] Esther Duflo "Schooling and labor market consequences of school construction in Indonesia: Evidence from an unusual policy experement", American Economic Review 91(4):795‐813 [jstor] Jensen, Robert (2010). -
Rohini Pande
ROHINI PANDE 27 Hillhouse Avenue 203.432.3637(w) PO Box 208269 [email protected] New Haven, CT 06520-8269 https://campuspress.yale.edu/rpande EDUCATION 1999 Ph.D., Economics, London School of Economics 1995 M.Sc. in Economics, London School of Economics (Distinction) 1994 MA in Philosophy, Politics and Economics, Oxford University 1992 BA (Hons.) in Economics, St. Stephens College, Delhi University PROFESSIONAL EXPERIENCE ACADEMIC POSITIONS 2019 – Henry J. Heinz II Professor of Economics, Yale University 2018 – 2019 Rafik Hariri Professor of International Political Economy, Harvard Kennedy School, Harvard University 2006 – 2017 Mohammed Kamal Professor of Public Policy, Harvard Kennedy School, Harvard University 2005 – 2006 Associate Professor of Economics, Yale University 2003 – 2005 Assistant Professor of Economics, Yale University 1999 – 2003 Assistant Professor of Economics, Columbia University VISITING POSITIONS April 2018 Ta-Chung Liu Distinguished Visitor at Becker Friedman Institute, UChicago Spring 2017 Visiting Professor of Economics, University of Pompeu Fabra and Stanford Fall 2010 Visiting Professor of Economics, London School of Economics Spring 2006 Visiting Associate Professor of Economics, University of California, Berkeley Fall 2005 Visiting Associate Professor of Economics, Columbia University 2002 – 2003 Visiting Assistant Professor of Economics, MIT CURRENT PROFESSIONAL ACTIVITIES AND SERVICES 2019 – Director, Economic Growth Center Yale University 2019 – Co-editor, American Economic Review: Insights 2014 – IZA -
Evidence from the Nox Budget Program†
American Economic Review 2017, 107(10): 2958–2989 https://doi.org/10.1257/aer.20131002 Defensive Investments and the Demand for Air Quality: Evidence from the NOx Budget Program† By Olivier Deschênes, Michael Greenstone, and Joseph S. Shapiro* The demand for air quality depends on health impacts and defensive investments, but little research assesses the empirical importance of defenses. A rich quasi-experiment suggests that the Nitrogen Oxides NO Budget Program NBP , a cap-and-trade market, decreased ( x) ( ) NOx emissions, ambient ozone concentrations, pharmaceutical expenditures, and mortality rates. The annual reductions in pharmaceutical purchases, a key defensive investment, and mortality are valued at about $800 million and $1.3 billion, respectively, suggesting that defenses are over one-third of willingness-to-pay for reductions in NOx emissions. Further, estimates indicate that the NBP’s benefits easily exceed its costs and that NOx reductions have substantial benefits. JEL I12, Q51, Q53, Q58 ( ) Willingness to pay WTP for well-being frequently depends on factors that ( ) enter the utility function directly e.g., the probability of mortality, school qual- ( ity, local crime rates, etc. and compensatory investments that help to determine ) these factors Grossman 1972 . In a wide variety of contexts, the empirical litera- ( ) ture has almost exclusively focused on the direct effects e.g., health outcomes of ( ) these factors and left the defensive investments largely unmeasured. As examples, there has been little effort to measure: the use of medications or air filters to protect against poor air quality e.g., Chay and Greenstone 2003; Currie and Neidell 2005 ; ( ) parental expenditures on supplemental tutoring to improve educational outcomes for their children; or the costs of alarm systems and additional security to protect against crime. -
Esther Duflo
Policies, Politics: Can Evidence Play a Role in the Fight against Poverty? Esther Duflo The Sixth Annual Richard H. Sabot Lecture A p r i l 2 0 1 1 The Center for Global Development The Richard H. Sabot Lecture Series The Richard H. Sabot Lecture is held annually to honor the life and work of Richard “Dick” Sabot, a respected professor, celebrated development economist, successful internet entrepreneur, and close friend of the Center for Global Development who died suddenly in July 2005. As a founding member of CGD’s board of directors, Dick’s enthusiasm and intellect encouraged our beginnings. His work as a scholar and as a development practitioner helped to shape the Center’s vision of independent research and new ideas in the service of better development policies and practices. Dick held a PhD in economics from Oxford University; he was Professor of Economics at Williams College and taught previously at Yale University, Oxford University, and Columbia University. His contributions to the fields of economics and international development were numerous, both in academia and during ten years at the World Bank. The Sabot Lecture Series hosts each year a scholar-practitioner who has made significant contributions to international development, combining, as did Dick, academic work with leadership in the policy community. We are grateful to the Sabot family and to CGD board member Bruns Grayson for the support to launch the Richard H. Sabot Lecture Series. Previous Lectures 2010 Kenneth Rogoff, “Austerity and the IMF.” 2009 Kemal Derviş, “Precautionary Resources and Long-Term Development Finance.” 2008 Lord Nicholas Stern, “Towards a Global Deal on Climate Change.” 2007 Ngozi Okonjo-Iweala, “Corruption: Myths and Reality in a Developing Country Context.” 2006 Lawrence H. -
Interview with Esther Duflo
The tapestry behind Esther Duflo, “Peoples of the World,” was handcrafted by Japanese artist Fumiko Nakayama. It was donated by MIT alumnus Mohammed Abdul Latif Jameel, a major J-PAL funder. Esther Duflo The problems of poverty in the developing world are extreme, extensive and seemingly immune to solution. Charitable handouts, massive foreign aid, large construction projects and countless other well- intentioned efforts have failed to alleviate poverty for many in Asia, Africa and Latin America. Market- oriented fixes—improved regulatory efficiency and lower trade barriers —also have had limited effect. What does work? MIT economist Esther Duflo has spent the past 20 years intensely pursuing answers to that question. With randomized control experiments—a technique commonly used to test pharmaceuticals— Duflo and her colleagues investigate potential solutions to a wide variety of health, education and agricultural problems, from sexually transmitted diseases to teacher absenteeism to insufficient fertilizer use. Her work often reveals weaknesses in popular fixes and conventional wisdom. Microlending, for example, hasn’t proven the miracle its advocates espouse, but it can be useful in the right setting. Women’s empower- ment, though essential, isn’t a magic bullet. At the same time, she’s discovered truths that hold great promise. A slight financial nudge dramatically increased fertilizer usage in a western Kenya trial. Monitoring teacher attendance, combined with additional pay for showing up, decreased teacher absenteeism by half in -
Esther Duflo Wins Clark Medal
Esther Duflo wins Clark medal http://web.mit.edu/newsoffice/2010/duflo-clark-0423.html?tmpl=compon... MIT’s influential poverty researcher heralded as best economist under age 40. Peter Dizikes, MIT News Office April 23, 2010 MIT economist Esther Duflo PhD ‘99, whose influential research has prompted new ways of fighting poverty around the globe, was named winner today of the John Bates Clark medal. Duflo is the second woman to receive the award, which ranks below only the Nobel Prize in prestige within the economics profession and is considered a reliable indicator of future Nobel consideration (about 40 percent of past recipients have won a Nobel). Duflo, a 37-year-old native of France, is the Abdul Esther Duflo, the Abdul Latif Jameel Professor of Poverty Alleviation Latif Jameel Professor of Poverty Alleviation and and Development Economics at MIT, was named the winner of the Development Economics at MIT and a director of 2010 John Bates Clark medal. MIT’s Abdul Latif Jameel Poverty Action Lab Photo - Photo: L. Barry Hetherington (J-PAL). Her work uses randomized field experiments to identify highly specific programs that can alleviate poverty, ranging from low-cost medical treatments to innovative education programs. Duflo, who officially found out about the medal via a phone call earlier today, says she regards the medal as “one for the team,” meaning the many researchers who have contributed to the renewal of development economics. “This is a great honor,” Duflo told MIT News. “Not only for me, but my colleagues and MIT. Development economics has changed radically over the last 10 years, and this is recognition of the work many people are doing.” The American Economic Association, which gives the Clark medal to the top economist under age 40, said Duflo had distinguished herself through “definitive contributions” in the field of development economics. -
Sendhil Mullainathan [email protected]
Sendhil Mullainathan [email protected] _____________________________________________________________________________________ Education HARVARD UNIVERSITY, CAMBRIDGE, MA, 1993-1998 PhD in Economics Dissertation Topic: Essays in Applied Microeconomics Advisors: Drew Fudenberg, Lawrence Katz, and Andrei Shleifer CORNELL UNIVERSITY, ITHACA, NY, 1990-1993 B.A. in Computer Science, Economics, and Mathematics, magna cum laude Fields of Interest Behavioral Economics, Poverty, Applied Econometrics, Machine Learning Professional Affiliations UNIVERSITY OF CHICAGO Roman Family University Professor of Computation and Behavioral Science, January 1, 2019 to present. University Professor, Professor of Computational and Behavioral Science, and George C. Tiao Faculty Fellow, Booth School of Business, July 1, 2018 to December 31, 2018. HARVARD UNIVERSITY Robert C Waggoner Professor of Economics, 2015 to 2018. Affiliate in Computer Science, Harvard John A. Paulson School of Engineering and Applied Sciences, July 1, 2016 to 2018. Professor of Economics, 2004 (September) to 2015. UNIVERSITY OF CHICAGO Visiting Professor, Booth School of Business, 2016-17. MASSACHUSETTS INSTITUTE OF TECHNOLOGY Mark Hyman Jr. Career Development Associate Professor, 2002-2004 Mark Hyman Jr. Career Development Assistant Professor, 2000-2002 Assistant Professor, 1998- 2000 SELECTED AFFILIATIONS Co - Founder and Senior Scientific Director, ideas42 Research Associate, National Bureau of Economic Research Founding Member, Poverty Action Lab Member, American Academy of Arts -
Henry Aaron, Brookings Insitution Gilbert Metcalf, Tufts University
An Open Statement Opposing Proposals for a Gas Tax Holiday In recent weeks, there have been proposals in Congress and by some presidential candidates to suspend the gas tax for the summer. As economists who study issues of energy policy, taxation, public finance, and budgeting, we write to indicate our opposition to this policy. Put simply, suspending the federal tax on gasoline this summer is a bad idea and we oppose it. There are several reasons for this opposition. First, research shows that waiving the gas tax would generate major profits for oil companies rather than significantly lowering prices for consumers. Second, it would encourage people to keep buying costly imported oil and do nothing to encourage conservation. Third, a tax holiday would provide very little relief to families feeling squeezed. Fourth, the gas tax suspension would threaten to increase the already record deficit in the coming year and reduce the amount of money going into the highway trust fund that maintains our infrastructure. Signers of this letter are Democrats, Republicans and Independents. This is not a partisan issue. It is a matter of good public policy. Henry Aaron, Brookings Insitution Gilbert Metcalf, Tufts University Joseph Stiglitz, Columbia University (Nobel Prize in Economics, 2001) James Heckman, University of Chicago (Nobel Prize in Economics, 2000) Daniel Kahneman, Princeton University (Nobel Prize in Economics, 2002) Charles Schultze, Brookings Institution (President of the American Economic Association, 1984, Chairman Council of Economic Advisers 1977-1981, Director, Bureau of the Budget, 1965-1967) Alice Rivlin, Brookings Institution (President of the American Economic Association, 1986, Director of O.M.B. -
CORRUPTION Abhijit Banerjee Sendhil Mullainathan Rema Hanna
CORRUPTION Abhijit Banerjee Sendhil Mullainathan Rema Hanna WORKING PAPER 17968 NBER WORKING PAPER SERIES CORRUPTION Abhijit Banerjee Sendhil Mullainathan Rema Hanna Working Paper 17968 http://www.nber.org/papers/w17968 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 April 2012 The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer- reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2012 by Abhijit Banerjee, Sendhil Mullainathan, and Rema Hanna. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Corruption Abhijit Banerjee, Sendhil Mullainathan, and Rema Hanna NBER Working Paper No. 17968 April 2012 JEL No. D02,O10,O12,O43 ABSTRACT In this paper, we provide a new framework for analyzing corruption in public bureaucracies. The standard way to model corruption is as an example of moral hazard, which then leads to a focus on better monitoring and stricter penalties with the eradication of corruption as the final goal. We propose an alternative approach which emphasizes why corruption arises in the first place. Corruption is modeled as a consequence of the interaction between the underlying task being performed by bureaucrat, the bureaucrat's private incentives and what the principal can observe and control. This allows us to study not just corruption but also other distortions that arise simultaneously with corruption, such as red-tape and ultimately, the quality and efficiency of the public services provided, and how these outcomes vary depending on the specific features of this task.