Crowding Out in Blood Donation: Was Titmuss Right?

Incentivizing Blood Donation: Systematic Review and Meta-Analysis to Test Titmuss’ Hypotheses

OBJECTIVES Titmuss hypothesized that paying blood donors would reduce the quality of the blood donated and would be economically inefficient. We report here the first systematic review to test these hypotheses, reporting on both financial and nonfinancial incentives. METHOD Studies deemed eligible for inclusion were peer-reviewed, experimental studies that presented data on the quantity (as a...

Financial Crowding Out

Using a novel dataset of accounting and market information that spans most publicly traded firms over the last century, we show that government deficit financing crowds out nonfinancial corporate debt financing and investment. Specifically, an increase in the supply of treasury debt is associated with a significant reduction in corporate leverage, debt issuances, and investment, but no signific...

Crowding Out or Crowding In? UI and Private Insurance

This paper explores the welfare consequences of unemployment insurance when private insurance markets are subject to enforcement frictions that limit debt accumulation, endogenously determining individual borrowing limits as a function of the length of unemployment. Reducing the replacement rate in the model initially increases borrowing, as the value of default declines significantly. As the r...

Crowding out Public Service Motivation∗

Employing workers with Public Service Motivation (PSM) has been proposed as a means of improving performance in the public sector. There is, however, no conclusive evidence showing PSM among individuals. In this paper we attempt to firstly find evidence of PSM by investigating why people change jobs from the private to the public sector. Secondly we attempt to identify factors that crowd out PS...

Blood Donation