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作者：Enikolopov, Ruben; Zhuravskaya, Ekaterina
作者单位：Harvard University
摘要：Does fiscal decentralization lead to more efficient governance, better public goods, and higher economic growth? This paper tests Riker's [Riker, W. (1964) Federalism: Origins, Operation, Significance, Little, Brown and Co, Boston, MA.] theory that the results of fiscal decentralization depend on the level of countries' political centralization. We analyze cross-section and panel data from up to 75 developing and transition countries for 25 years. Two of Riker's predictions about the role of p...
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作者：Fortin, Bernard; Lacroix, Guy; Villeval, Marie-Claire
作者单位：Laval University; Centre National de la Recherche Scientifique (CNRS); Ecole Normale Superieure de Lyon (ENS de LYON); Universite Claude Bernard Lyon 1; Universite Jean Monnet; Universite Lyon 2; IZA Institute Labor Economics
摘要：The paper extends the standard tax evasion model by allowing for social interactions. In Manski's [Manski, C.F. (1993). Identification of Endogenous Social Effects: The Reflection Problem. Review of Economic Studies 60(3), 531-542.] nomenclature, our model takes into account endogenous interactions, i.e., social conformity effects, exogenous interactions, i.e., fairness effects, and correlated effects. Our model is tested using experimental data. Participants must decide how much income to rep...
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作者：Shelton, Cameron A.
作者单位：Wesleyan University
摘要：This paper tests several leading hypotheses on determinants of government expenditure. The purpose is to avoid omitted variables bias by testing the prominent theories in a comprehensive specification, to identify persistent puzzles for the current set of theories, and to explore those puzzles in greater depth by looking at the composition of government expenditure and the level of government at which it takes place as well as its magnitude. Using Government Financial Statistics data from the ...
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作者：Hurst, Erik; Willen, Paul
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Boston; University of Chicago; National Bureau of Economic Research
摘要：In this paper, we use a calibrated life-cycle model to explore quantitatively ways of reducing the burden of social security in a world populated by both optimizing and rule-of-thumb consumers. Social security contributions force young households with upward-sloping income profiles to save a sizeable portion of their income for retirement, when their optimal consumption plan would likely have them either saving little or borrowing. We first use household data to document that young households ...
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作者：Marion, Justin
作者单位：University of California System; University of California Santa Cruz
摘要：Bid preferences in procurement auctions allow firms from an identifiable group an advantage in bidding against unfavored firms. While economic efficiency is expected to fall as a result of bid preferences, government procurement costs may either increase or decrease depending on the competitive response of favored and unfavored firms. This paper uses data from California auctions for road construction contracts, where small businesses receive a 5-percent bid preference in auctions for projects...
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作者：Rapoport, Hillel; Vidal, Jean-Pierre
作者单位：Bar Ilan University; Universite de Lille
摘要：The recent literature on the endogenous formation of preferences has emphasized that while some preferences are more conducive to growth than others, economic growth also contributes to the formation of particular tastes [Becker, Gary S. (1996): Accounting for Tastes, Cambridge, Ma.: Harvard University Press]. In this paper, we construct a neoclassical growth model where intergenerational altruism can be endogenously reinforced and entails costly sacrifices on the part of parents to acquire su...
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作者：Brown, Jeffrey R.; Finkelstein, Amy
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; National Bureau of Economic Research
摘要：Long-term care represents one of the largest uninsured financial risks facing the elderly in the United States. We present evidence of supply side market failures in the private long-term care insurance market. In particular, the typical policy purchased exhibits premiums marked up substantially above expected benefits. It also provides very limited coverage relative to the total expenditure risk. However, we present additional evidence suggesting that the existence of supply side market failu...
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作者：Poterba, James; Rauh, Joshua; Venti, Steven; Wise, David
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of Chicago; Dartmouth College; Harvard University
摘要：The private pension structure in the United States, once dominated by defined benefit (DB) plans, is currently divided between defined contribution (DC) and DB plans. Wealth accumulation in DC plans depends on a participant's contribution behavior and on financial market returns, while accumulation in DB plans is sensitive to a participant's labor market experience and to plan parameters. This paper simulates the distribution of retirement wealth under representative DB and DC plans. It uses d...
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作者：Bound, John; Turner, Sarah
作者单位：University of Michigan System; University of Michigan; National Bureau of Economic Research; University of Virginia
摘要：Analyses of college attainment typically focus on factors affecting enrollment demand, including the financial attractiveness of a college education and the availability of financial aid, while implicitly assuming that resources available per student on the supply-side of the market are elastically supplied. The higher education market in the United States is dominated by public and non-profit production, and colleges and universities receive considerable subsidies from state, federal, and pri...
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作者：Ho, Wai-Hong; Wang, Yong
作者单位：City University of Hong Kong; University of Macau
摘要：This paper studies the growth effects of factor income taxation on capital and labor in an endogenous growth model with overlapping generations. Capital accumulation in our model takes place through credit-financed investments in a market with asymmetric information between lenders and borrowers. We show that, in the presence of asymmetric information, capital income taxation worsens the adverse selection problem in the credit market, which in turn introduces an additional adverse effect on gr...
