Adam Sacarny

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  • Leonardo Bartolini, Linda Goldberg, Adam Sacarny, E R A L R E S E Rv E B A N K O F N E W Y O
  • 2008
Exploring how the release of new economic data affects asset prices in the stock, bond, and foreign exchange markets, the authors find that only a few announcements—the nonfarm payroll numbers, the GDP advance release, and a private sector manufacturing report—generate price responses that are economically significant and measurably persistent. Bond yields(More)
and numerous seminar participants for helpful comments and advice, and to Maurice Dalton and Nivedhitha Subramanian for expert research assistance. We gratefully acknowledge funding from the National Institute on Aging: P01 AG005842 and P01 AG019783 (Chandra), R01 AG032449 (Finkelstein) andT32-AG000186 (Sacarny). The views expressed herein are those of the(More)
We introduce the class of conditional linear combination tests, which reject null hypotheses concerning model parameters when a data-dependent convex combination of two identification-robust statistics is large. These tests control size under weak identification and have a number of optimality properties in a conditional problem. We show that the(More)
We study the drivers of geographic variation in US health care utilization, using an empirical strategy that exploits migration of Medicare patients to separate the role of demand and supply factors. Our approach allows us to account for demand differences driven by both observable and unobservable patient characteristics. We find that 40-50 percent of(More)
This paper investigates the effects of social network position on the ability to overcome contract incompleteness using an experiment in Karnataka, In-dia. We randomly pair individuals (who live in the same village and are known to one another) to play informal risk-sharing games across three contracting environments which vary the level of formal(More)
paper presents preliminary findings and is being distributed to economists and other interested readers solely to stimulate discussion and elicit comments. The views expressed in this paper are those of the authors and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. Any errors or omissions are(More)
Television advertising of prescription drugs is controversial, and it remains illegal in all but two countries. Much of the opposition stems from concerns that advertising directly to consumers may ine-ciently distort prescribing patterns toward the advertised product. Despite the controversy surrounding the practice, its eects are not well understood.(More)
The conventional wisdom for the healthcare sector is that idiosyncratic features leave little scope for market forces to allocate consumers to higher performance producers. However, we find robust evidence - across several different conditions and performance measures - that higher quality hospitals have higher market shares and grow more over time. The(More)
The rapid growth of Political Action Committees – expenditures neared $500 million in the 2012 presidential election – is center-stage in the debate over money in American politics. The effect of PACs on elections depends on regulation and its interaction with imperfect competition. Congress requires stations to treat candidates to the same office equally,(More)
healthcare sector is the existence of substantial differences in productivity across regions and across hospitals. Annual Medicare spending per capita ranges from $6,200 to $16,300 across geographic areas, yet health outcomes do not positively covary with these spending differentials; similar patterns have been documented across hospitals within geographic(More)