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作者：Barbarino, Alessandro; Mastrobuoni, Giovanni
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; University of Essex; Collegio Carlo Alberto; Tilburg University
摘要：We estimate the incapacitation effect on crime using variation in Italian prison population driven by eight collective pardons passed between 1962 and 1990. The prison releases are sudden (within one day), very large (up to 35 percent of the entire prison population), and happen nationwide. Exploiting this quasi-natural experiment we break the simultaneity of crime and prisoners and, in addition, use the national character of the pardons to separately identify incapacitation from changes in de...
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作者：Ericson, Keith M. Marzilli
作者单位：Boston University
摘要：I use the Medicare Part D prescription drug insurance market to examine the dynamics of firm interaction with consumers on an insurance exchange. Enrollment data show that consumers face switching frictions leading to inertia in plan choice, and a regression discontinuity design indicates initial defaults have persistent effects. In the absence of commitment to future prices, theory predicts firms respond to inertia by raising prices on existing enrollees, while introducing cheaper alternative...
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作者：Kapoor, Sacha; Magesan, Arvind
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; University of Calgary
摘要：We exploit the introduction of pedestrian countdown signals-timers that indicate when traffic lights will change-to evaluate a policy that improves the information of all market participants. We find that although countdown signals reduce the number of pedestrians struck by automobiles, they increase the number of collisions between automobiles. They also cause more collisions overall, implying that welfare gains can be attained by hiding the information from drivers. Whereas most empirical st...
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作者：Novy-Marx, Robert; Rauh, Joshua
作者单位：University of Rochester; Stanford University
摘要：We calculate increases in contributions required to achieve full funding of state and local pension systems in the United States over 30 years. Without policy changes, contributions would have to increase by 2.5 times, reaching 14.1 percent of the total own revenue generated by state and local governments. This represents a tax increase of $1,385 per household per year, around half of which would go to pay down legacy liabilities while half would fund the cost of new promises. We examine sensi...
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作者：Sengupta, Anirban; Wiggins, Steven N.
作者单位：Amazon.com; Texas A&M University System; Texas A&M University College Station
摘要：This paper uses transaction data to investigate the effects of Internet purchase on airline fares. Our data include ticket characteristics, restrictions, flight load factors, and dates and channel of purchase. Controlling for ticket and flight characteristics, online purchasers pay about 11 percent less than offline purchasers, which seems rooted in more efficient shopping. The results do not support a spillover in terms of reduced fares or dispersion from greater Internet shopping. The paper ...
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作者：Kawano, Laura
作者单位：United States Department of the Treasury
摘要：This paper provides evidence that dividend and capital gains tax rates importantly influence household portfolio choices. Using data from the Surveys of Consumer Finances around the 2003 dividend tax reductions, I estimate the relationship between taxes and household portfolio dividend yields. I find that a one percentage point decrease in the dividend tax rate relative to the long-term capital gains tax rate causes household portfolio dividend yields to increase by 0.04 percentage points. The...
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作者：Lemoine, Derek; Traeger, Christian
作者单位：University of Arizona; University of California System; University of California Berkeley
摘要：We investigate the optimal policy response to the possibility of abrupt, irreversible shifts in system dynamics. The welfare cost of a tipping point emerges from the policymaker's response to altered system dynamics. Our policymaker also learns about a threshold's location by observing the system's response in each period. Simulations with a recursive, numerical climate-economy model show that tipping possibilities raise the optimal carbon tax more strongly over time. The resulting policy path...
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作者：Johannesen, Niels; Zucman, Gabriel
作者单位：University of Copenhagen; University of California System; University of California Berkeley; University of London; London School Economics & Political Science
摘要：During the financial crisis, G20 countries compelled tax havens to sign bilateral treaties providing for exchange of bank information. Policymakers have celebrated this global initiative as the end of bank secrecy. Exploiting a unique panel dataset, our study is the first attempt to assess how the treaties affected bank deposits in tax havens. Rather than repatriating funds, our results suggest that tax evaders shifted deposits to havens not covered by a treaty with their home country. The cra...
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作者：Ashenfelter, Orley C.; Hosken, Daniel S.; Weinberg, Matthew C.
作者单位：Princeton University; National Bureau of Economic Research; Drexel University
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作者：Piketty, Thomas; Saez, Emmanuel; Stantcheva, Stefanie
作者单位：Paris School of Economics; University of California System; University of California Berkeley; Massachusetts Institute of Technology (MIT)
摘要：This paper derives optimal top tax rate formulas in a model where top earners respond to taxes through three channels: labor supply, tax avoidance, and compensation bargaining. The optimal top tax rate increases when there are zero-sum compensation-bargaining effects. We present empirical evidence consistent with bargaining effects. Top tax rate cuts are associated with top one percent pretax income shares increases but not higher economic growth. US CEO pay for luck is quantitatively more pre...
