Economics

□ 피지컬 AI 개념과 부상 배경 □ 글로벌 피지컬 AI 산업 동향 □ 엔비디아의 피지컬 AI 시장 지배 전략 □ 시사점

We study whether low-economic-mobility neighborhoods can be transformed into high-mobility areas by analyzing the HOPE VI program, which invested $17 billion to revitalize 262 distressed public housing developments. We estimate the program’s impacts using a matched difference-in-differences design, comparing outcomes in revitalized developments to observably similar control developments using anonymized tax records. HOPE VI reduced neighborhood poverty rates by attracting higher-income families to revitalized neighborhoods, but had no causal impact on the earnings of adults living in public housing units. Children raised in revitalized public housing units earned more, were more likely to ..

Demographic disparities in exposure to various sources of environmental stress are well documented. While specific stressors are linked to adverse health outcomes, there is uncertainty about how they interact. A first step towards evaluating these joint impacts is to understand the degree to which the same individuals are exposed to extreme simultaneous exposure to each stressor. Here, we adapt the Alkire-Foster multi-dimensional poverty measure to rank exposures to multi-dimensional environmental harm in a way that accounts for the frequency, breadth, and severity of exposure among the extremely exposed. This measure can be used to normatively compare distributions of extreme simultaneous e..

We study the macroeconomic effects of neighborhood-specific policies in a general equilibrium model of a city with endogenous residential sorting and educational investment. A key feature of the model is the presence of endogenous local spillovers that depend on the distribution of families across neighborhoods. We analyze three policies: a housing-voucher policy inspired by the MTO program, which enables poor families to relocate to low-poverty neighborhoods; a place-based transfer (PBT) policy that provides monetary transfers to families in poor neighborhoods; and a place-based investment (PBI) policy that invests resources in local institutions, such as public schools, to directly enhance..

We introduce a framework for estimating demand across multiple assets with bidding data. Unlike existing methods, our approach does not rely on price instruments, which are often difficult to obtain. We describe the data requirements for implementation and illustrate its versatility using two applications: message-level data from Nasdaq and bidder-level data from Canadian Treasury bill auctions. We argue that understanding demand systems is a crucial factor in assessing the impact of market design on price stability and liquidity.

We use a randomized experiment with 553 science- and technology-based startups in 12 co-working spaces across the US to evaluate the effects of intensive, short-term entrepreneurial training programs on survival and performance for innovation-driven startups. Treated startups are more likely to shut down their businesses and do so sooner than control startups. Conditional on survival, however, treated startups are more likely to raise external funding for their ventures, raise funding faster, and raise more funding than the control group; they also exhibit higher employment and revenue. Treated founders are less likely to found a new startup after shutdown. Our findings are consistent with p..

This chapter takes stock of what has been learned from the recent micro-development literature about wedges—mechanisms generating dispersion in marginal revenue products of factors across firms, which are commonly interpreted as indicators of misallocation. We present a general theoretical framework that allows us to consider several different types of wedges simultaneously. We argue that it is important to distinguish between between technological wedges, which are present even in the efficient allocation that would be chosen by the social planner, and distortionary wedges, which are present in market equilibrium but not the social planner's allocation. Not all wedges, as we have defined ..

This paper studies how online dating platforms have impacted marital outcomes, assortative matching, and sexually transmitted disease (STD) rates in the United States. We construct county-level measures of online dating usage using data from website-based platforms (2002–2013) and mobile app-based platforms (2017–2023). Leveraging county-level variation and an instrumental variable strategy, we show in the desktop era, a 1% increase in online dating sessions raises divorce rates by 0.50%, while in the mobile era, a 1% increase in online dating activity lowers marriage and divorce rates by 0.40% and 0.33%, respectively. We also document shifts in assortative matching. Desktop sites reduce..

We examine how Medicaid expansion under the Affordable Care Act reshaped federal transfer inflows to counties using state Medicaid expansions between 2014 and 2017. We show that the ACA expansion increased federal Medicaid transfers by $361 per capita in expansion counties. Using our estimates, we forecast that non-expansion counties would gain $554 per capita if they expanded Medicaid. These transfers flow to counties with lower tax capacity and lower gross income. Our findings suggest that Medicaid expansion was a health policy intervention that also functioned as a budgetary mechanism reshaping federal to local transfers and fiscal smoothing across U.S. counties.