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作者：Geys, Benny; Smith, Daniel M.
作者单位：BI Norwegian Business School; Harvard University
摘要：Kinship often continues to play an important role in determining the ruling class even under modern democratic elections in a wide range of countries. In recent years, academic interest in the causes and consequences of such dynasties has been rapidly expanding. In this introduction to the Feature, we review existing work on political dynasties' formation and potential implications for socio-economic outcomes (such as economic growth, distributive policy, and gender representation), and outlin...
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作者：Cavalcanti, Tiago V. V.; Giannitsarou, Chryssi
作者单位：University of Cambridge; Getulio Vargas Foundation; Centre for Economic Policy Research - UK
摘要：We study the interactions of human capital, growth and inequality by embedding networks into an endogenous growth model with overlapping generations. Human capital depends on investment in education and the average human capital of a household's neighbourhood. High network cohesion leads to long-run equality, while for low network cohesion inequality is high and persists more often. During transition, high overall growth is achieved when the network has high degree centralisation, and high ind...
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作者：Landerso, Rasmus; Nielsen, Helena Skyt; Simonsen, Marianne
作者单位：Aarhus University
摘要：This article uses register-based data to investigate the effects of school starting age on crime. Through this, we provide insights into the determinants of crime-age profiles. We exploit that Danish children typically start first grade in the calendar year they turn seven, which gives rise to a discontinuity in school starting age for children born around new year. Our analysis speaks against a simple invariant crime-age profile as is popular in criminology: we find that higher school startin...
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作者：Ausubel, Lawrence M.; Baranov, Oleg
作者单位：University System of Maryland; University of Maryland College Park; University of Colorado System; University of Colorado Boulder
摘要：The combinatorial clock auction (CCA) is an important recent innovation in auction design that has been utilised for many spectrum auctions worldwide. While the theoretical foundations of the CCA are described in a growing literature, many of the practical implementation choices are neglected. In this article, we examine some of the most critical practical decisions for a regulator implementing the CCA. Topics include: implementation of reserve prices; endogenous band plans; supplementary roun...
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作者：Huber, Juergen; Kirchler, Michael; Kleinlercher, Daniel; Sutter, Matthias
作者单位：University of Innsbruck; University of Gothenburg; University of Cologne
摘要：The effects of a financial transaction tax (FTT) are scientifically disputed, as seemingly small details of its implementation may matter a lot. In this article, we provide experimental evidence on the different effects of an FTT, depending on whether it is implemented as a tax on markets, on residents, or a combination of both. We find that a tax on markets has negative effects on volatility and trading volume, whereas a tax on residents shows none of these undesired effects. Additionally, we...
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作者：Dinkelman, Taryn
作者单位：National Bureau of Economic Research; Dartmouth College
摘要：I present new evidence from Africa that droughts are an important component of long-run variation in health human capital. Using Census data, I estimate effects of early childhood drought exposure on later-life disabilities among South Africans confined to homelands during apartheid. By exploiting 40 years of quasi-random variation in local droughts experienced by different cohorts in different districts, I find that drought exposure in infancy raises later-life disability rates by 3.5-5.2%, w...
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作者：Tschopp, Jeanne
作者单位：Toronto Metropolitan University
摘要：This article estimates the importance of workers' outside options in wage determination. The article uses the predictions of search and bargaining theory and proposes novel identification strategies to separate the respective effects of outside options from those of unobserved productivity. Using an administrative panel database for Germany, this study exploits differences in both the employment composition across cities of Germany and mobility across jobs as sources of variation for identific...
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作者：Burns, Sarah; Ziliak, James
作者单位：University of Kentucky
摘要：We use matched panels from the Current Population Survey along with a grouping instrumental variables estimator to provide new estimates of the elasticity of taxable income. Our identification strategy exploits the fact that federal and state tax reforms over the past three decades have differentially affected cohorts across states and over time. We find that the elasticity is in the range of 0.4-0.55. The implication of our new estimates for tax policy is that the revenue-maximising tax rate ...
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作者：Balafoutas, Loukas; Kerschbamer, Rudolf; Sutter, Matthias
作者单位：University of Innsbruck; University of Cologne
摘要：In a field experiment in the market for taxi rides we investigate a phenomenon called second-degree moral hazard - the tendency of the supply side in a market to react to anticipated moral hazard on the demand side by increasing the extent or price of the service. Our moral hazard manipulation consists of some passengers explicitly stating that their expenses will be reimbursed. This has a strong positive effect on the likelihood and the amount of overcharging and consequently increases consum...
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作者：Hoffmann, Florian; Inderst, Roman; Moslener, Ulf
作者单位：University of Bonn; Goethe University Frankfurt; Imperial College London; Frankfurt School Finance & Management
摘要：We consider a production economy with externalities, which can be reduced by additional firm-level expenditures. This requires firms to raise additional outside financing, leading to deadweight loss due to a standard agency problem vis-a-vis investors. Policy is constrained as firms are privately informed about marginal abatement costs. The optimal tax on externalities is non-linear, thus, not implementable through tradable pollution rights alone, and lower than the Pigouvian tax for two reaso...
