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作者：Owens, Raymond, III; Rossi-Hansberg, Esteban; Sarte, Pierre-Daniel
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Richmond; Princeton University; Princeton University
摘要：This paper studies the urban structure of Detroit-one that is clearly not optimal for its size-which features a business district immediately surrounded by largely vacant neighborhoods. A model is presented where residential externalities lead to multiple equilibria at the neighborhood level. Specifically, neighborhood development requires the coordination of developers and residents, without which it may remain vacant even with sound fundamentals. Given this mechanism, existing strategic visi...
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作者：Wettstein, Gal
作者单位：Boston College
摘要：I examine whether lack of an individual market for prescription drug insurance causes individuals to delay retirement. Exploiting the 2006 introduction of Medicare Part D, which subsidized drug insurance for Americans over age 65, I use a triple-differences design that compares labor outcomes of individuals with retiree health insurance up to age 65 to those with insurance for life, before and after age 65, before and after 2006.I find that those with benefits only to age 65 decreased full-tim...
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作者：Boyer, M. Martin; De Donder, Philippe; Fluet, Claude; Leroux, Marie-Louise; Michaud, Pierre-Carl
作者单位：Universite de Montreal; HEC Montreal; Centre National de la Recherche Scientifique (CNRS); Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Laval University; University of Quebec; University of Quebec Montreal; Universite de Montreal; HEC Montreal; National Bureau of Economic Research
摘要：This paper conducts a stated-choice experiment where respondents are asked to rate various insurance products aimed to protect against financial risks associated with long-term care needs. Using exogenous variation in prices from the survey design and individual cost estimates, these stated-choice probabilities are used to predict market equilibrium for long-term care insurance. Our results are twofold. First, information frictions are pervasive. Second, measuring the welfare losses associated...
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作者：Barrage, Lint; Chyn, Eric; Hastings, Justine
作者单位：Brown University; University of Virginia
摘要：This paper explores whether private markets can incentivize environmental stewardship. We examine the consumer response to the 2010 BP oil spill and test how BP's investment in the 2000-2008 Beyond Petroleum green advertising campaign affected this response. We find evidence consistent with consumer punishment: BP station margins and volumes declined by 2.9 cents per gallon and 4.2 percent, respectively, in the month after the spill. However, pre-spill advertising significantly dampened the pr...
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作者：Benzarti, Youssef
作者单位：University of California System; University of California Santa Barbara; National Bureau of Economic Research
摘要：This paper uses a uasi-experimental design to estimate the cost of filing taxes. Using US tax returns, I observe how taxpayers choose between itemizing deductions and claiming the standard deduction. Taxpayers forgo large tax savings to avoid compliance costs, which provides a revealed preference estimate of such costs. I show that costs increase with income, consistent with an opportunity cost of time explanation. These estimates suggest substantial costs of filing federal income taxes, signi...
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作者：Gadenne, Lucie
作者单位：University of Warwick; Centre for Economic Policy Research - UK
摘要：In many developing countries, households can purchase limited quantities of goods at a fixed subsidized price through ration shops. This paper asks whether the characteristics of developing countries explain why governments use such systems. I find an equity-efficiency trade-off: an efficiency-maximizing government will never use ration shops, but a welfare-maximizing one might to redistribute and provide insurance. Welfare gains of ration shops will be highest for necessity goods and goods wi...
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作者：Lockwood, Benjamin B.
作者单位：University of Pennsylvania; National Bureau of Economic Research
摘要：Work often entails up-front effort costs in exchange for delayed benefits, and mounting evidence documents present bias over effort in the face of such delays. This paper studies the implications for the optimal income tax. Optimal tax rates are computed for present-biased workers who choose multiple dimensions of labor effort, some of which occur prior to compensation. Present bias reduces optimal tax rates, with a larger effect when the elasticity of taxable income is high. Optimal marginal ...
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作者：Acemoglu, Daron; Fergusson, Leopoldo; Robinson, James; Romero, Dario; Vargas, Juan F.
作者单位：Massachusetts Institute of Technology (MIT); Universidad de los Andes (Colombia); University of Chicago; Columbia University; Universidad del Rosario
摘要：We investigate the use of high-powered incentives for the Colombian military and show that this practice produced perverse side effects. Innocent civilians were killed and misrepresented as guerillas (a phenomenon known in Colombia as false positives). There were significantly more false positives during the period of high-powered incentives in municipalities with weaker judicial institutions and where a higher share of brigades were commanded by colonels, who have stronger career concerns tha...
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作者：Bubb, Ryan; Warren, Patrick L.
作者单位：New York University; Clemson University
摘要：We develop an equilibrium theory of employer-sponsored retirement plan design using a behavioral contract theory approach. The operation of the labor market results in retirement plans that generally cater to, rather than correct, workers' mistakes. Our theory provides new explanations for a range of facts about retirement plan design, including the use of employer matching contributions and the use of default contribution rates in automatic enrollment plans that lower many workers' savings. W...
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作者：Rudik, Ivan
作者单位：Cornell University
摘要：Integrated assessment models (IAMs) are economists' primary tool for analyzing the optimal carbon tax. Damage functions, which link temperature to economic impacts, have come under fire because of their assumptions that may be incorrect in significant but a priori unknowable ways. Here I develop recursive IAM frameworks to model uncertainty, learning, and concern for misspecification about damages. I decompose the carbon tax into channels capturing state uncertainty, insurance motives, and pre...
