Chang‐Tai Hsieh
Biographic Data
| ID | 5871763 |
|---|---|
| NAME | Chang‐Tai Hsieh |
| GIVEN NAMES | Chang‐Tai |
| FAMILY NAME | Hsieh |
| SIGNATURE | HSIEH C T |
| AFFILIATIONS | University of Chicago |
| VERIFIED | No |
| TOTAL WORKS | 9 |
| TOTAL CITATIONS | 16 |
| AUTHOR COUNT | 9 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2001 |
| LATEST PUBLICATION YEAR | 2022 |
| H-INDEX | 3 |
The Cost of Privacy: Welfare Effects of the Disclosure of Covid-19 Cases
South Korea publicly disclosed detailed location information of individuals who tested positive for COVID-19. We quantify the effect of public disclosure on the transmission of the virus and economic losses in Seoul. The change in commuting patterns due to public disclosure lowers the number of cases by 60,000 and the number of deaths by 2,000 in Seoul over two years. Compared to a city-wide lockdown that results in the same number of cases over …
The Allocation of Talent and U.S. Economic Growth
In 1960, 94 percent of doctors and lawyers were white men. By 2010, the fraction was just 62 percent. Similar changes in other highly‐skilled occupations have occurred throughout the U.S. economy during the last 50 years. Given that the innate talent for these professions is unlikely to have changed differently across groups, the change in the occupational distribution since 1960 suggests that a substantial pool of innately talented women and bla…
Housing Constraints and Spatial Misallocation
We quantify the amount of spatial misallocation of labor across US cities and its aggregate costs. Misallocation arises because high productivity cities like New York and the San Francisco Bay Area have adopted stringent restrictions to new housing supply, effectively limiting the number of workers who have access to such high productivity. Using a spatial equilibrium model and data from 220 metropolitan areas we find that these constraints lower…
"The Missing "Missing Middle
Although a large literature seeks to explain the "missing middle" of mid-sized firms in developing countries, there is surprisingly little empirical backing for existence of the missing middle. Using microdata on the full distribution of both formal and informal sector manufacturing firms in India, Indonesia, and Mexico, we document three facts. First, while there are a very large number of small firms, there is no "missing middle" in the sense o…
Misallocation and Manufacturing TFP in China and India
Resource misallocation can lower aggregate total factor productivity (TFP). We use microdata on manufacturing establishments to quantify the potential extent of misallocation in China and India versus the United States. We measure sizable gaps in marginal products of labor and capital across plants within narrowly defined industries in China and India compared with the United States. When capital and labor are hypothetically reallocated to equali…
The effects of generalized school choice on achievement and stratification: Evidence from Chile's voucher program
Was the Federal Reserve Constrained by the Gold Standard During the Great Depression? Evidence from the 1932 Open Market Purchase Program
Could the Federal Reserve have reversed the decline in the money supply during the Great Depression without causing a loss of confidence in the U.S. commitment to the gold standard? This article uses the $1 billion expansionary open market operation in 1932 as a crucial case study. Using forward exchange rates and interest rate differentials to measure devaluation expectations, we find virtually no evidence that the large monetary expansion led i…
Can Free Entry Be Inefficient? Fixed Commissions and Social Waste in the Real Estate Industry
Real estate agents typically charge a 6 percent commission, regardless of the price of the house sold. As a consequence, the commission fee from selling a house will differ dramatically across cities depending on the average price of housing, although the effort necessary to match buyers and sellers may not be that different. We use a simple economic model to show that if barriers to entry are low, the entry of real estate agents in cities with h…
Endogenous growth and obsolescence
"The Missing "Missing Middle
Although a large literature seeks to explain the "missing middle" of mid-sized firms in developing countries, there is surprisingly little empirical backing for existence of the missing middle. Using microdata on the full distribution of both formal and informal sector manufacturing firms in India, Indonesia, and Mexico, we document three facts. First, while there are a very large number of small firms, there is no "missing middle" in the sense o…
Was the Federal Reserve Constrained by the Gold Standard During the Great Depression? Evidence from the 1932 Open Market Purchase Program
Could the Federal Reserve have reversed the decline in the money supply during the Great Depression without causing a loss of confidence in the U.S. commitment to the gold standard? This article uses the $1 billion expansionary open market operation in 1932 as a crucial case study. Using forward exchange rates and interest rate differentials to measure devaluation expectations, we find virtually no evidence that the large monetary expansion led i…
Can Free Entry Be Inefficient? Fixed Commissions and Social Waste in the Real Estate Industry
Real estate agents typically charge a 6 percent commission, regardless of the price of the house sold. As a consequence, the commission fee from selling a house will differ dramatically across cities depending on the average price of housing, although the effort necessary to match buyers and sellers may not be that different. We use a simple economic model to show that if barriers to entry are low, the entry of real estate agents in cities with h…
Endogenous growth and obsolescence
Can Free Entry Be Inefficient? Fixed Commissions and Social Waste in the Real Estate Industry
Real estate agents typically charge a 6 percent commission, regardless of the price of the house sold. As a consequence, the commission fee from selling a house will differ dramatically across cities depending on the average price of housing, although the effort necessary to match buyers and sellers may not be that different. We use a simple economic model to show that if barriers to entry are low, the entry of real estate agents in cities with h…
The effects of generalized school choice on achievement and stratification: Evidence from Chile's voucher program
Was the Federal Reserve Constrained by the Gold Standard During the Great Depression? Evidence from the 1932 Open Market Purchase Program
Could the Federal Reserve have reversed the decline in the money supply during the Great Depression without causing a loss of confidence in the U.S. commitment to the gold standard? This article uses the $1 billion expansionary open market operation in 1932 as a crucial case study. Using forward exchange rates and interest rate differentials to measure devaluation expectations, we find virtually no evidence that the large monetary expansion led i…
Misallocation and Manufacturing TFP in China and India
Resource misallocation can lower aggregate total factor productivity (TFP). We use microdata on manufacturing establishments to quantify the potential extent of misallocation in China and India versus the United States. We measure sizable gaps in marginal products of labor and capital across plants within narrowly defined industries in China and India compared with the United States. When capital and labor are hypothetically reallocated to equali…
"The Missing "Missing Middle
Although a large literature seeks to explain the "missing middle" of mid-sized firms in developing countries, there is surprisingly little empirical backing for existence of the missing middle. Using microdata on the full distribution of both formal and informal sector manufacturing firms in India, Indonesia, and Mexico, we document three facts. First, while there are a very large number of small firms, there is no "missing middle" in the sense o…
The Allocation of Talent and U.S. Economic Growth
In 1960, 94 percent of doctors and lawyers were white men. By 2010, the fraction was just 62 percent. Similar changes in other highly‐skilled occupations have occurred throughout the U.S. economy during the last 50 years. Given that the innate talent for these professions is unlikely to have changed differently across groups, the change in the occupational distribution since 1960 suggests that a substantial pool of innately talented women and bla…
Housing Constraints and Spatial Misallocation
We quantify the amount of spatial misallocation of labor across US cities and its aggregate costs. Misallocation arises because high productivity cities like New York and the San Francisco Bay Area have adopted stringent restrictions to new housing supply, effectively limiting the number of workers who have access to such high productivity. Using a spatial equilibrium model and data from 220 metropolitan areas we find that these constraints lower…
The Cost of Privacy: Welfare Effects of the Disclosure of Covid-19 Cases
South Korea publicly disclosed detailed location information of individuals who tested positive for COVID-19. We quantify the effect of public disclosure on the transmission of the virus and economic losses in Seoul. The change in commuting patterns due to public disclosure lowers the number of cases by 60,000 and the number of deaths by 2,000 in Seoul over two years. Compared to a city-wide lockdown that results in the same number of cases over …
Economics (9 works) · Business (5 works) · Economic Growth and Productivity (4 works) · Productivity (4 works) · Geography (3 works) · Labour economics (3 works) · Macroeconomics (3 works) · Monetary economics (3 works) · Demographic economics (2 works) · Econometrics (2 works)