-
作者：Risch, Max
作者单位：Carnegie Mellon University
摘要：Debates about the taxation of business owners often center on the distributional effects of these taxes, particularly the degree to which they affect workers. Drawing on a new linked owner-firm-worker data set created from U.S. administrative tax records, I analyze how an increase in the top marginal tax rate faced by business owners affected the earnings of their employees. I use panel difference-in-differences methods to compare the earnings of workers in similar firms but whose owners were ...
-
作者：Budish, Eric
作者单位：University of Chicago
摘要：Satoshi Nakamoto (2008) invented a new kind of economic system that does not need the support of government or rule of law. Trust and security instead arise from a combination of cryptography and economic incentives, all in a completely anonymous and decentralized system. This article shows that Nakamoto's novel form of trust, while undeniably ingenious, is deeply economically limited. The core argument is three equations. A zero-profit condition on the quantity of honest blockchain trust supp...
-
作者：Atkin, David; Faber, Benjamin; Fally, Thibault; Gonzalez-Navarro, Marco
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of California System; University of California Berkeley
摘要：We propose and implement a new approach that allows us to estimate income-specific changes in household welfare in contexts where well-measured prices are not available for important subsets of consumption. Using rich but widely available expenditure survey microdata, we show that we can recover income-specific equivalent and compensating variations from horizontal shifts in what we call relative Engel curves-as long as preferences fall within the broad quasi-separable class , . Our approach i...
-
作者：Alsan, Marcella; Durvasula, Maya; Gupta, Harsh; Schwartzstein, Joshua; Williams, Heidi
作者单位：Harvard University; National Bureau of Economic Research; Stanford University; Harvard University
摘要：This article examines the consequences and causes of low enrollment of Black patients in clinical trials. We develop a simple model of similarity-based extrapolation that predicts that evidence is more relevant for decision-making by physicians and patients when it is more representative of the group being treated. This generates the key result that the perceived benefit of a medicine for a group depends not only on the average benefit from a trial but also on the share of patients from that g...
-
作者：Copeland, Adam; Duffie, Darrell; Yang, Yilin (David)
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Stanford University; City University of Hong Kong
摘要：We show that the likelihood of a liquidity crunch in wholesale U.S. dollar funding markets depends on levels of reserve balances at the financial institutions that are the most active intermediaries of these markets. Heightened risk of an imminent liquidity crunch is signaled by significant delays in intraday payments to these large financial institutions over the prior two weeks. Our study contributes to the broader dialogue surrounding the Federal Reserve's ongoing quantitative tightening.
-
作者：Kaur, Supreet; Mullainathan, Sendhil; Oh, Suanna; Schilbach, Frank
作者单位：National Bureau of Economic Research; University of California System; University of California Berkeley; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Paris School of Economics
摘要：Workers who are worried about their personal finances may find it hard to focus at work. If so, reducing financial concerns could increase productivity. We test this hypothesis in a sample of low-income Indian piece-rate manufacturing workers. We stagger when wages are paid out: some workers are paid earlier and receive a cash infusion while others remain liquidity constrained. The cash infusion leads workers to reduce their financial concerns by immediately paying off debts and buying househo...
-
作者：Elzayn, Hadi; Smith, Evelyn; Hertz, Thomas; Guage, Cameron; Ramesh, Arun; Fisher, Robin; Ho, Daniel E.; Goldin, Jacob
作者单位：Stanford University; University of Michigan System; University of Michigan; University of California System; University of California Davis; United States Department of the Treasury; National Bureau of Economic Research; University of Chicago
摘要：Tax authorities around the world rely on audits to detect underreported tax liabilities and to verify that taxpayers qualify for the benefits they claim. We study differences in Internal Revenue Service audit rates between Black and non-Black taxpayers. Because neither we nor the IRS observe taxpayer race, we propose and use a novel partial identification strategy to estimate these differences. Despite race-blind audit selection, we find that Black taxpayers are audited at 2.9 to 4.7 times the...
-
作者：Evsyukova, Yulia; Rusche, Felix; Mill, Wladislaw
作者单位：University of Mannheim; Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW)
摘要：We assess the impact of discrimination on Black individuals' job networks across the United States using a two-stage field experiment with 400+ fictitious LinkedIn profiles. In the first stage, we vary race via AI-generated images only and find that Black profiles' connection requests are 13% less likely to be accepted. Based on users' CVs, we find widespread discrimination across social groups. In the second stage, we exogenously endow Black and white profiles with the same networks and ask c...
-
作者：Akbarpour, Mohammad; Budish, Eric; Dworczak, Piotr; Kominers, Scott Duke
作者单位：Stanford University; University of Chicago; Northwestern University; Harvard University
摘要：We propose an economic framework for determining the optimal allocation of a scarce supply of vaccines that become gradually available during a public health crisis, such as the COVID-19 pandemic. Agents differ in observable and unobservable characteristics, and the designer maximizes a social welfare function over all feasible mechanisms-accounting for agents' characteristics, as well as their endogenous behavior in the face of the pandemic. The framework emphasizes the role of externalities ...
-
作者：Jaravel, Xavier; Lashkari, Danial
作者单位：University of London; London School Economics & Political Science; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：How should we measure changes in consumer welfare given observed data on prices and expenditures? This article proposes a nonparametric approach that holds under arbitrary preferences that may depend on observable consumer characteristics, for example, when expenditure shares vary with income. Using total expenditures under a constant set of prices as our money metric for real consumption (welfare), we derive a principled measure of real consumption growth featuring a correction term relative ...
