Adam Sacarny

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A growing literature studies social networks and their implications for economic outcomes. This paper highlights, examines, and addresses econometric problems that arise when a researcher studies these network effects using sampled network data. In applied work, researchers generally construct networks from data collected from a partial sample of nodes. For(More)
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)
I study the relationship between bank-specific capital and credit access in a new setting: bank branch closings in markets where the branch network is dense. Existing regulation in the U.S. is targeted toward areas with few branches where closings inhibit physical access to the branch network. I show that, even in crowded markets, closings can have large(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)
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)
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)
Political Action Committees have grown rapidly – expenditures neared $500 million in the 2012 presidential election – emerging center-stage in the debate over money in American politics. Their effect on elections depends on regulation and its interaction with imperfect competition. Congress requires stations to treat candidates to the same office equally,(More)
Private school market shares are rising steadily in many developing countries, but we have a limited understanding of how private schools set prices, how parents respond, and how this affects enrollment and performance in equilibrium. To shed light on demand behavior and supply response, I present a model of school pricing that incorporates an unusual(More)
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