essays in public finance and industrial organization a dissertation ...

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When demand does not materialize, they then rush to spend these funds on lower quality projects at the end of the year. We test these predictions using data on procurement spending by the U.S. federal government. Using data on all federal contracts from 2004 through 2009, we document that spending spikes in all major federal agencies during the 52nd week of the year as the agencies rush to exhaust expiring budget authority. Spending in the last week of the year is 4.9 times higher than the rest-of-the-year weekly average. We examine the relative quality of year-end spending using a newly available dataset that tracks the quality of $130 billion in information technology (I.T.) projects made by federal agencies. Consistent with the model, average project quality falls at the end of the year. Quality scores in the last week of the year are 2.2 to 5.6 times more likely to be below the central value. To explore the impact of allowing agencies to roll unused spending over into subsequent fiscal years, we study the I.T. contracts of an agency with special authority to roll over unused funding. We show that there is only a small end-of-year I.T. spending spike in this agency and that the one major I.T. contract this agency issued in the 52nd week of the year has a quality rating that is well above average. vi
Acknowledgements I am deeply thankful to my dissertation committee for their advice and support. I thank Jonathan Levin for his mentorship. I could not ask for a better adviser or role model. I thank Caroline Hoxby and Liran Einav for their exceptional guidance. They say that your graduate advisers are your advisers for life. Having these advisers for my years at Stanford is already more than I deserve. I am also grateful to the many faculty members who provided valuable comments and suggestions for my research during my graduate studies. Among them are Ran Abramitzky, Doug Bernheim, Jay Bhattacharya, Nick Bloom, Tim Bresnahan, Kate Bundorf, Jacub Kastl, and Jeffrey Leibman. I thank Kyna Fong for joining my oral exam committee. I acknowledge the Ric Weiland Graduate Fellowship, Kapnick Fellowship, and Shultz Scholarship for financial support. My time at Stanford has been a case study in the virtuous cycle of positive peer effects. I thank Albert Bollard and Max Floetotto for their friendship. I am lucky to have had Aaron Bodoh-Creed, Marika Cabral, Alex Hirsch, Carlos Lever, Marcello Miccoli, Izi Sin, and Gui Woolston as colleagues and friends. I thank Alessandra Voena most of all. I am also grateful to my advisers at Brown University for introducing me to the practice of economic research. I thank Herschel Grossman for countless hours of debate and discussion and Roberto Serrano for his wisdom in urging me to pursue graduate studies. Finally, I am immensely thankful to my family, my parents Raymond Mahoney and Nalini Shah-Mahoney and my brother Colin, for their unconditional love and vii
Page 1 and 2: ESSAYS IN PUBLIC FINANCE AND INDUST
Page 3 and 4: I certify that I have read this dis
Page 5: insurance choice. Among other thing
Page 9 and 10: Contents Preface iv Acknowledgement
Page 11 and 12: 2.5.3 The Value of Plan Choice ....
Page 13 and 14: List of Tables 1.1 Asset Exemption
Page 15 and 16: 4.9 First Week Contract Spending fo
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Page 19 and 20: CHAPTER 1. BANKRUPTCY 2 of the dead
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Page 45 and 46: CHAPTER 1. BANKRUPTCY 28 to seizabl
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Page 52: CHAPTER 1. BANKRUPTCY 35 of income
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CHAPTER 1. BANKRUPTCY 40 TaxSim pro
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Payments CHAPTER 1. BANKRUPTCY 42 $
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OOP payments CHAPTER 1. BANKRUPTCY
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ln(seizable sssets) CHAPTER 1. BANK
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50 60 70 80 90 100 Insurance covera
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Pr(WTP > premium) CHAPTER 1. BANKRU
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CHAPTER 1. BANKRUPTCY 52 Table 1.1:
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CHAPTER 1. BANKRUPTCY 64 Table 1.14
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CHAPTER 2. HEALTH PLAN CHOICE 66 pl
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CHAPTER 2. HEALTH PLAN CHOICE 100 2
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CHAPTER 2. HEALTH PLAN CHOICE 102 T
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CHAPTER 2. HEALTH PLAN CHOICE 111 F
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CHAPTER 2. HEALTH PLAN CHOICE 113 6
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Chapter 3 Private Coverage and Publ
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CHAPTER 3. MEDIGAP 119 be of intere
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CHAPTER 3. MEDIGAP 121 hazard for i
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CHAPTER 3. MEDIGAP 123 have benefit
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CHAPTER 3. MEDIGAP 128 We use boots
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CHAPTER 3. MEDIGAP 130 of costs and
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CHAPTER 3. MEDIGAP 132 policy that
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CHAPTER 3. MEDIGAP 134 3.6.2 Causal
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CHAPTER 3. MEDIGAP 136 3.6.3 Robust
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CHAPTER 3. MEDIGAP 138 calculated u
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CHAPTER 3. MEDIGAP 140 (10000,11000
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CHAPTER 3. MEDIGAP 142 Table 3.2: S
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CHAPTER 3. MEDIGAP 144 Table 3.4: H
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CHAPTER 3. MEDIGAP 146 Table 3.6: S
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CHAPTER 3. MEDIGAP 148 Table 3.8: R
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CHAPTER 3. MEDIGAP 150 Table 3.10:
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CHAPTER 3. MEDIGAP 152 Table 3.12:
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CHAPTER 4. YEAR-END SPENDING 154 bu
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CHAPTER 4. YEAR-END SPENDING 156 in
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CHAPTER 4. YEAR-END SPENDING 159 To
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CHAPTER 4. YEAR-END SPENDING 165 or
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CHAPTER 4. YEAR-END SPENDING 167 ha
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