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作者：Hebous, Shafik; Ruf, Martin
作者单位：International Monetary Fund; Goethe University Frankfurt; Eberhard Karls University of Tubingen
摘要：Theory recommends aligning the tax treatment of debt and equity. A few countries, notably Belgium, have introduced an allowance for corporate equity (ACE) to achieve tax neutrality. We study the effects of adopting an ACE on debt financing, passive investment, and active investment of multinational firms, using high quality administrative data on virtually all German-based multinationals. We use two main identification strategies, based on (1) synthetic control methods and (2) variations acros...
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作者：Niebler, Sarah; Urban, Carly
作者单位：Dickinson College; Montana State University System; Montana State University Bozeman
摘要：This paper contributes to a growing literature that explains why individuals contribute to political campaigns. We build a panel dataset that follows contributors from primary to general elections to quantify the persistence of giving in political contests. Those who gave to winning candidates in the primary were most likely to contribute again in the general election. Next, we use an instrumental variable strategy to document that within party negative advertising decreases the probability th...
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作者：Dizon-Ross, Rebecca; Dupas, Pascaline; Robinson, Jonathan
作者单位：University of Chicago; Stanford University; National Bureau of Economic Research; University of California System; University of California Santa Cruz
摘要：Distributing subsidized health products through existing health infrastructure could substantially and cost-effectively improve health in sub-Saharan Africa. There is, however, widespread concern that poor governance in particular, limited health worker accountability seriously undermines the effectiveness of subsidy programs. We audit targeted bed net distribution programs to quantify the extent of agency problems. We find that around 80% of the eligible receive the subsidy as intended, and u...
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作者：Bijlsma, Michiel; Boone, Jan; Zwart, Gijsbert
作者单位：Tilburg University; Tilburg University; Tilburg University; Centre for Economic Policy Research - UK; University of Groningen; University of Groningen
摘要：We analyze optimal risk adjustment in competitive health-insurance markets when insurers have better information on their customers' risk profiles than the sponsor of health insurance. In the optimal scheme, the sponsor uses reinsurance to screen insurers with bad and good risks, in order to lower premiums for enrollees with high expected healthcare costs. We then explore the effects of adding a community-rating requirement to complement this risk-adjustment scheme. With community rating, insu...
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作者：Geys, Benny; Heggedal, Tom-Reiel; Sorensen, Rune J.
作者单位：BI Norwegian Business School
摘要：Recent research explores the effect of financial and career incentives on public-sector hiring processes and subsequent performance. The reverse relation between performance and bureaucrats' compensation and turnover has received only limited attention. Due to the distinct features of public-sector organizations, bureaucrats are traditionally argued to require either permanent positions and fixed wages, or low-powered performance incentives. This article studies how the performance of top civi...
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作者：Khahnetski, Kiryl; Rockenbach, Bettina; Werner, Peter
作者单位：University of Cologne; Maastricht University
摘要：Information asymmetries in economic transactions are omnipresent and a regular source of fraudulent behavior. In a theoretical and an experimental analysis of a sender-receiver game we investigate whether sanctions for lying induce more truth-telling. The novel aspect in our model is that senders may not only choose between truth-telling and (explicit) lying, but may also engage in evasive lying by credibly pretending not to know. While we find that sanctions promote truth-telling when senders...
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作者：Chirinko, Robert S.; Wilson, Daniel J.
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; Leibniz Association; Ifo Institut; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; Federal Reserve System - USA; Federal Reserve Bank - San Francisco
摘要：Dramatic declines in capital tax rates among U.S. states and European countries have been linked by many commentators to tax competition, an inevitable race to the bottom, and underprovision of local public goods. This paper analyzes the reaction of capital tax policy in a given U.S. state to changes in capital tax policy by other states. Our study is undertaken with a novel panel data set covering the 48 contiguous U.S. states for the period 1965 to 2006 and is guided by the theory of strateg...
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作者：Bierbrauer, Felix; Ockenfels, Axel; Pollak, Andreas; Rueckert, Desiree
作者单位：University of Cologne
摘要：We study two classic challenges in mechanism design - bilateral trade a la Myerson and Satterthwaite (1983) and redistributive income taxation a la Mirrlees (1971) and Piketty (1993) - to show that some standard mechanism design solutions systematically fail with social preferences. We therefore introduce the notion of a social-preference-robust mechanism which works not only for selfish but also for social preferences of different nature and intensity, and characterize the optimal mechanism f...
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作者：Teh, Tse-Ling
作者单位：Columbia University; University of London; London School Economics & Political Science
摘要：Safety net assistance and insurance exist to manage risk and improve welfare. This shared goal may lead to crowding out. In a new approach, this paper analyzes the interaction of assistance with two dimensions of insurance design: level of coverage and types of risks covered. In a society of risk averse vulnerable individuals and risk neutral assistance providers, Pareto improvements in welfare are achieved through incompleteness in the types of risks covered. The results imply that safety net...
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作者：Kyle, Margaret K.; Ridley, David B.; Zhang, Su
作者单位：Universite PSL; MINES ParisTech; Duke University
摘要：How do governments respond to other governments when providing a global public good? Using data from 2007 to 2014 on medical research funding for infectious and parasitic diseases, we examine how governments and foundations in 41 countries respond to funding changes by the US government (which accounts for half of funding for these diseases). Because funding across governments might be positively correlated due to unobserved drivers they have in common, we use variation in the representation o...
