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作者：JUNG, GR; KENNY, LW; LOTT, JR
作者单位：University of Pennsylvania; State University System of Florida; University of Florida
摘要：This paper explains why rational, well-informed voters elect politicians with divergent platforms. Given well-defined constituencies and the costliness of any individual politician creating transfers across all interest groups, we show that different politicians from the same district can successfully represent vastly different constituencies and still have each politician producing the support-maximizing level of transfers. Our explanation focuses on how obtaining wealth transfers reduces suc...
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作者：AGEE, MD; CROCKER, TD
作者单位：University of Wyoming; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：We construct an endogenous risk model of the influence of more precise hazard information on the parental demand for child health. A 256-observation data set is used to estimate the marginal value to parents and to society of risk information about the future consequences of children's body lead burdens. Our results indicate that the social value of risk information greatly exceeds the cost of providing it and that parents will purchase too little of this information.
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作者：GARVIE, D; KEELER, A
作者单位：University System of Georgia; University of Georgia
摘要：This paper extends the economic literature on the incomplete enforcement of social regulation by incorporating regulatory choice in an institutional environment of limited regulatory resources and powers. We show how regulatory decisions determine the structure of incentives faced by regulated firms. Our results indicate that the expense of monitoring relative to the regulator's power to levy penalties helps to explain the differences between 'compliance' and 'deterrence' enforcement styles. W...
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作者：BENDER, B
摘要：That senators from the same state often have a large difference in their ideological voting records has proven inconvenient for a literature that has largely relied on a median voter model of elections. One exception is Palfrey (Review of Economic Studies, 1984, 51, 139-156), whose analysis implies the hypothesis that the expected difference in such voting records varies directly with the variance of that state's density function of constituent ideological preferences. This paper provides empi...
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作者：HARVEY, CM
摘要：The typical method for valuing the future goods and harms of a public policy alternative is by means of a constant annual discount rate. This paper examines the reasonableness for public policy analysis of non-constant discounting methods that, unlike constant discounting, can accord considerable importance to outcomes in the distant future. We examine temporal consistency and economic efficiency as reasons for the use of constant discounting - and we argue that these reasons do not apply for ...
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作者：PERSSON, T; TABELLINI, G
作者单位：University of Brescia; Stockholm University
摘要：In this paper we study a political model of capital taxation. Voters who differ in their relative shares of capital and labor income choose tax policy under majority rule. We compare two political regimes: direct democracy, where the voters vote directly on the policy; and representative democracy, where they elect a representative who then chooses policy. In both regimes some form of commitment by the voters is necessary to avoid excessive taxation of capital. But the necessary commitment und...
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作者：PAPKE, LE
作者单位：National Bureau of Economic Research
摘要：This paper analyzes the effect of the Indiana enterprise zone (EZ) program on local employment and investment using a panel of local taxing jurisdictions. As in other EZ programs, Indiana's incentives favor capital relative to labor, but the target of the capital incentive is unusual - the stock of inventories. Using various estimation methods, I estimate that zone designation initially reduces the value of depreciable personal property by about 13 percent, but also reduces unemployment claims...
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作者：CAPECI, J
摘要：This paper provides an empirical study of the effects that a local government's fiscal decisions exert on its cost of borrowing, using a sample of New Jersey municipalities. The results are consistent with the view that current period fiscal decisions do impact the cost of borrowing. A one standard deviation increase in the amount borrowed is associated with a 66 basis point increase in the annual yield. Furthermore, that the standard approach of treating current period policy variables as exo...
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作者：DREZE, JH; ARROW, K; ATKINSON, AB; BASU, K; HONKAPOHJA, S; KRUEGER, A; MORALES, JA; STERN, N
作者单位：University of Oxford
摘要：This is the final report of a Committee appointed in 1991 by the International Economic Association to investigate the desirability and feasibility of establishing a new Graduate ''School of Economics and Economic Development'' (SEED) as an international center of excellence in a Third-World Country. The report reviews the purpose of such an institution, and provides an ideal blueprint. Key elements are a Third-World location, a special but non-exclusive commitment to issues of development, an...
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作者：SLEMROD, J
摘要：This paper examines optimal income tax progressivity when avoidance responses to taxation are important, and can be controlled at some cost by the government. A simple example shows that ignoring the fact that avoidance can be controlled - that the leak in Okun's bucket can be fixed - can lead to misleading implications about the optimal degree of tax rate progressivity. The paper then generalizes the standard model of the optimal linear income tax to include taxpayer avoidance behavior and th...
