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作者：Kopczuk, Wojciech; Pestieau, Pierre
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作者：Wildasin, David E.
作者单位：University of Kentucky
摘要：Interjurisdictional flows of imperfectly-mobile migrants, investment, and other productive resources result in the costly dynamic adjustment of resource stocks. This paper investigates the comparative dynamics of adjustment to changes in local fiscal policy with two imperfectly mobile productive resources. The intertemporal adjustments for both resources depend on complementarity/substitutability in production and the adjustment cost technologies for each, implying that the evaluation of the f...
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作者：Bommier, Antoine; Leroux, Marie-Louise; Lozachmeur, Jean-Marie
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Swiss Federal Institutes of Technology Domain; ETH Zurich; Universite Catholique Louvain
摘要：This paper studies the problem of redistribution between individuals having different mortality rates. We use a continuous time model in which there are two types of individuals characterized by different survival probability paths. Individual preferences are represented by a generalized life-cycle utility function which can exhibit temporal risk aversion. We successively compare utilitarian allocations when individuals exhibit temporal risk neutrality and temporal risk aversion. This problem ...
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作者：Kumru, Cagri S.; Thanopoulos, Athanasios C.
作者单位：Australian National University; National & Kapodistrian University of Athens
摘要：This paper analyzes a fully funded social security system under the assumption that agents face temptation issues. Agents are required to save through individually managed Personal Security Accounts without, and with mandatory annuitization. When the analysis is restricted to CRRA preferences our results are congruent with the literature in indicating that the complete elimination of social security is among the reform scenarios that maximize welfare. However, when self control preferences are...
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作者：Becker, Johannes; Fuest, Clemens
作者单位：University of Oxford; Max Planck Society
摘要：This paper analyses tax competition and tax coordination in a model where capital flows occur in the form of mergers and acquisitions, rather than greenfield investment. In this framework, we show that differences in residence based taxes do not necessarily distort international ownership patterns. Moreover, tax competition yields globally efficient levels of source based corporate income taxes if residence based taxes on capital income are absent. In contrast, in the presence of residence bas...
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作者：DeBacker, Jason
作者单位：University of Texas System; University of Texas Austin
摘要：Using data on federal outlays and U.S. House elections,! estimate the effect of the pork barrel on the quality of officeholders, taking into account the fact that seniority creates a dynamic linkage across periods. After estimating the parameters governing the influence of seniority on federal outlays and the parameters governing the distributions of candidate quality, I conduct several policy experiments to uncover the size of the welfare loss created by the seniority system. I find that the ...
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作者：Jacob, Brian A.; Lefgren, Lars
作者单位：Brigham Young University; University of Michigan System; University of Michigan
摘要：In this paper, we estimate the impact of receiving an NIH grant on subsequent publications and citations. Our sample consists of all applications (unsuccessful as well as successful) to the NIH from 1980 to 2000 for standard research grants (R01s). Both OLS and IV estimates show that receipt of an NIH research grant (worth roughly $1.7 million) leads to only one additional publication over the next five years, which corresponds to a 7% increase. The limited impact of NIH grants is consistent w...
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作者：Voget, Johannes
作者单位：University of Mannheim; University of Oxford; Tilburg University
摘要：About 6% of multinationals relocated their headquarters to another country in the 1997-2007 period. This paper presents empirical evidence on the role of taxes in these relocation decisions. It considers a sample of 140 multinationals that relocated their headquarters over the past decade and compares them to a control group of 1943 multinationals that did not relocate. It is found that the additional tax due in the home country upon repatriation of foreign profits has a positive effect on the...
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作者：Schwartz, Warren F.; Wickelgren, Abraham L.
作者单位：Georgetown University; University of Texas System; University of Texas Austin
摘要：We consider the effect of competitor suits in a model in which an incumbent can take an action that deters the entry of a rival. The option to sue the incumbent can provide a subsidy for entry which can maintain competition even when the incumbent takes this action. Liability for the entrant's lost profits, however, can soften post-entry competition. If the incumbent's action is potentially efficient, taking market structure as given, e.g. it reduces her costs, then competitor suits can genera...
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作者：Auerbach, Alan J.; Lee, Ronald
作者单位：University of California System; University of California Berkeley; University of California System; University of California Berkeley
摘要：Using stochastic simulations we analyze how public pension structures spread the risks arising from demographic and economic shocks across generations. We consider several actual and hypothetical sustainable PAYGO pension structures, including: (1) versions of the US Social Security system with annual adjustments of taxes or benefits to maintain fiscal balance; (2) Sweden's Notional Defined Contribution system and several variants developed to improve fiscal stability; and (3) the German syste...
