We present the first comprehensive evidence of how app usage affects academic performance and early career outcomes. App usage is contagious: a one standard deviation (around 3.5 hours per day) increase in roommates’ app usage raises an individual’s own app usage by 5.8%, with substantial heterogeneity across students. A one standard deviation increase in app usage reduces GPAs by 36.2% of a within-cohort-major standard deviation and lowers wages by 2.3%. The effect of roommates’ app usage is over half the size of an individual’s own usage effect. High-frequency GPS data reveal that high app usage crowds out time in study halls and increases late arrivals at and absences from lectures.
This article reveals interesting insights into the effects and mechanisms of achievement rank when it becomes salient to students and their parents.
In 2020, local governments in China began issuing digital coupons to stimulate spending in targeted categories such as restaurants and supermarkets. We find that the coupons caused large increases in spending of 3.1–3.3 yuan per yuan spent by the government. The large spending responses do not come from substitution away from non-targeted spending categories or from short-run intertemporal substitution. We conclude that digital coupons are a cost-effective way to provide targeted fiscal stimulus to specific sectors of the economy.
How and why do household credit constraints affect fraud victimization when households face fraud schemes? Using the urban sample of a novel nationally representative data set on fraud victimization and household finance, we find that households facing credit constraints are associated with a higher probability of becoming fraud victims and suffer from higher economic losses from frauds than households...
China’s suspensions of initial public offerings (IPOs) provide a unique opportunity to evaluate the competitive effects of IPO activity on listed firms, as existing studies are challenged by the influence of market conditions on IPO timing. We evaluate the stock returns of listed firms on the Shanghai and Shenzhen exchanges over the three most recent suspensions. We confirm adverse effects on listed firms from IPOs, both from direct competition and from the creation of close asset substitutes. We also find that weaker firms are more exposed to the adverse effects of IPO listings.