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作者：Charpentier, Arthur; Le Maux, Benoit
作者单位：Universite de Rennes; Centre National de la Recherche Scientifique (CNRS); Universite de Rennes; Centre National de la Recherche Scientifique (CNRS)
摘要：This paper develops a theoretical framework for analyzing the decision to provide or buy insurance against the risk of natural catastrophes. In contrast to conventional models of insurance, the insurer has a non-zero probability of insolvency which depends on the distribution of the risks, the premium rate, and the amount of capital in the company. When the insurer is insolvent, each loss reduces the indemnity available to the victims, thus generating negative pecuniary externalities. Our mode...
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作者：Delpierre, Matthieu; Verheyden, Bertrand
作者单位：Universite Catholique Louvain
摘要：We provide a normative analysis of endogenous student and worker mobility in the presence of diverging interests between universities and governments. Student mobility generates a university competition effect which induces them to overinvest in education, whereas worker mobility generates a free-rider effect for governments, who are not willing to subsidize the education of agents who will work abroad. At equilibrium, the free-rider effect always dominates the competition effect, resulting in...
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作者：Cerqua, Augusto; Pellegrini, Guido
作者单位：Sapienza University Rome
摘要：There is still little consensus among economists on the effectiveness of business support policies. The evaluation of such policies requires a reliable identification procedure that is hardly achieved in empirical studies. We analyse the impact of a policy instrument - Law 488/92 (L488), the main Italian regional policy - that allocates subsidies to private firms by a multiple ranking system. Thanks to the peculiar L488 selection process that creates the conditions for a local random experimen...
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作者：Oswald, Yvonne; Backes-Gellner, Uschi
作者单位：University of Zurich
摘要：This paper investigates the effect of financial incentives on student performance and analyzes for the first time how the incentive effect in education is moderated by students' time preferences. To examine this effect, we use real labor market incentive programs that we combine with data from experiments on time preferences. We find not only that students who are offered financial incentives for better grades have on average better first- and second-year grade point averages but also, more st...
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作者：Haufler, Andreas; Norback, Pehr-Johan; Persson, Lars
作者单位：University of Munich; Leibniz Association; Ifo Institut; Research Institute of Industrial Economics (IFN); Center for Economic & Policy Research (CEPR)
摘要：Stimulating entrepreneurship is high on the policy agenda of many countries. We study the effects of tax policies on entrepreneurs' choice of riskiness (or quality) of an innovation project, and on their mode of commercializing the innovation (market entry versus sale). Limited loss offset provisions in the tax system induce entrepreneurs innovating for entry to choose projects with inefficiently little risk. The same distortion does not arise when entrepreneurs sell their innovation in a comp...
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作者：Griffith, Rachel; Miller, Helen; O'Connell, Martin
作者单位：University of London; London School Economics & Political Science; University of Manchester; University of London; University College London
摘要：Intellectual property accounts for a growing share of firms' assets. It is more mobile than other forms of capital, and could be used by firms to shift income offshore and to reduce their corporate income tax liability. We consider how influential corporate income taxes are in determining where firms choose to legally own intellectual property. We estimate a mixed (or random coefficients) logit model that incorporates important observed and unobserved heterogeneity in firms' location choices. ...
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作者：Bruelhart, Marius; Parchet, Raphael
作者单位：University of Lausanne; Centre for Economic Policy Research - UK; Universita della Svizzera Italiana
摘要：Interjurisdictional competition over mobile tax bases is an easily understood mechanism, but actual tax-base elasticities are difficult to estimate. Political pressure for reducing tax rates could therefore be based on erroneous estimates of the mobility of tax bases. We show that tax competition provided the most prominent argument in the policy debates leading to a succession of reforms of bequest taxation by Swiss cantons. Yet, canton-level panel data spanning multiple bequest tax reforms o...
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作者：Jacobs, Bas; Boadway, Robin
作者单位：Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Queens University - Canada; Tinbergen Institute; Leibniz Association; Ifo Institut
摘要：This paper analyzes optimal linear commodity taxes joint with non-linear income taxes. We provide optimal tax rules based on empirically observable elasticities, earnings and commodity demands. We demonstrate that commodities should be taxed/subsidized if - conditional on earnings - doing so boosts labor supply as the critical role of commodity taxation is to alleviate distortions on labor supply caused by income taxation. We extend the standard formula for optimal non-linear income taxation f...
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作者：Novy-Marx, Robert; Rauh, Joshua D.
作者单位：University of Rochester; National Bureau of Economic Research; Stanford University
摘要：This paper calculates the effect that introducing risk-sharing during either retirement or the working life would have on public sector pension liabilities. We begin by considering the introduction of a variable annuity for the retirement phase in which positive benefit adjustments are granted each year only if asset returns surpass 5%. This change would reduce unfunded accrued liabilities by over half, and would lower the annual contribution increases required to target full funding in 30 yea...
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作者：Yan, Jia; Winston, Clifford
作者单位：Washington State University; Brookings Institution
摘要：Travelers and airlines are frustrated by long and costly travel delays at public airports that are attributable to runway charges that do not account for aircraft congestion. Because the inefficient charges are likely to persist, we explore whether private airport competition could lead to more efficient charges that improve travelers' welfare, increase airlines' profits, and enable the airports to be profitable. We use the San Francisco Bay Area for our assessment and identify important condi...
