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作者：Nian, Yongwei; Wang, Chunyang
作者单位：Bocconi University; Peking University Shenzhen Graduate School (PKU Shenzhen); Peking University
摘要：Chinese local leaders are frequently moved across prefectures. By combining local leader rotation data and comprehensive firm land parcel purchase data across prefectures from 2006 to 2016, this paper examines how firm-politician connections affect resource allocation and finds that a firm headquartered in a leader's previ-ous work prefecture purchases three times more land parcels in that leader's new governing prefecture than the prefecture-year mean, at half the unit prices. Identification ...
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作者：Moretti, Enrico; Wilson, Daniel J.
作者单位：University of California System; University of California Berkeley; Federal Reserve System - USA; Federal Reserve Bank - San Francisco
摘要：We contribute to the literature on the effect of taxes on the locational choices of wealthy individuals by examining the geographical sensitiv-ity of the Forbes 400 richest Americans to state estate taxes. Though we find billionaires'effective tax rates are only about half the statutory rate, their residential choices are highly sensitive to these taxes, as 35 percent of local billionaires leave states with an estate tax. This tax -in-duced mobility causes a large reduction in the aggregate ta...
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作者：Card, David; Fenizia, Alessandra; Silver, David
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; George Washington University
摘要：Treatment practices vary widely across hospitals, often with little connection to patients' medical needs. We assess impacts of these differences in delivery practices at childbirth. We find that infants quasi-randomly delivered at hospitals with higher C-section rates are born in better shape and are less likely to be readmitted, with suggestive evidence of improved survival. These benefits are driven by avoidance of prolonged labors that pose risks to infant health. In contrast, these infant...
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作者：Jha, Akshaya; Wolak, Frank A.
作者单位：Carnegie Mellon University; Stanford University; Stanford University
摘要：Forward markets are believed to aggregate information about future spot prices and reduce the cost of producing the commodity. We develop a measure of the extent to which forward and spot prices agree in markets with transaction costs. Using this measure, we show that day-ahead prices better reflect real-time prices at all locations in California's electricity market after the introduction of financial trading. We then present evidence suggesting that operating costs and input fuel use fell af...
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作者：Danzer, Alexander M.; Zyska, Lennard
作者单位：Leibniz Association; Ifo Institut; IZA Institute Labor Economics
摘要：This study identifies the causal effect of pension generosity on wom-en's fertility behavior. It capitalizes on Brazil's expansion of the pen-sion system to rural workers, whose pension wealth subsequently more than tripled. Difference-in-difference, instrumental variable, and event study methods show that the pension reform reduces the propensity of childbearing of women of fertile age by 8 percent in the short run. Completed fertility declines by 1.3 children within 20 years after the reform...
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作者：Craig, Ashley C.
作者单位：University of Michigan System; University of Michigan
摘要：I study optimal income taxation when human capital investment is imperfectly observable by employers. In the model, Bayesian inference about worker productivity compresses the wage distribution, lowering the private return to human capital investment. An externality arises: given the same information, employers are more optimistic about each individual if workers are generally more productive. The significance of this externality hinges on the accuracy of employers'beliefs and the responsivene...
