many seminar participants for comments. We also thank Harte Hanks Market Intelligence for supplying data. We received funding from the Kellogg School of Management, SSHRC grant #538-02-1013, and the GM Strategy Center. All opinions and errors are ours alone.
We examine the evolving structure of the US hospital industry since 1970, focusing on how ownership form influences entry and exit behavior. We develop theoretical predictions based on the model of Lakdawalla and Philipson, in which for-profit and not-for-profit hospitals differ regarding their objectives and costs of capital. The model predicts for-profits… (More)
We estimate hidden earnings by matching car registries to employers' records of paid earnings for a panel of individuals and households in Moscow. The identification strategy is based on the idea that reported earnings may be falsified, but car registries are accurate. Hidden earnings comprise over 75 percent of actual earnings of the large majority of car… (More)