Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/307962 
Year of Publication: 
2024
Series/Report no.: 
I4R Discussion Paper Series No. 194
Publisher: 
Institute for Replication (I4R), s.l.
Abstract: 
In their comment, Delpeyrou and Bertoli (2024) make several critiques of our paper (Depetris-Chauvin et al., 2020). In this reply, we show that: (i) Their purported "errors" in data construction are in the vast majority of cases simply the result of different (and, we argue, superior) choices in implementing our identification strategy; (ii) Our specification choices regarding fixed effects are not only justified but are the correct ones for a proper apples-to-apples comparison; and most crucially, (iii) Our key results are essentially robust to their own proposed modifications. Far from overturning our findings, their critique further underscores their robustness.
Document Type: 
Working Paper

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