3期

最新文章

• Myth and Reality of Flat Tax Reform: Micro Estimates of Tax Evasion Response and Welfare Effects in Russia AI翻译
  作者：Gorodnichenko, Yuriy; Martinez-Vazquez, Jorge; Peter, Klara Sabirianova
  作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; University System of Georgia; Georgia State University
  摘要：We examine the effects of Russia's 2001 flat rate income tax reform on consumption, income, and tax evasion. We use the gap between household expenditures and reported earnings as a proxy for tax evasion with data from a household panel for 1998-2004. We associate large and significant changes in tax evasion following the flat tax reform with changes in voluntary compliance. We develop a consumption-based framework to assess the deadweight loss from income tax in the presence of tax evasion an...
• Is the Allocation of Resources within the Household Efficient? New Evidence from a Randomized Experiment AI翻译
  作者：Bobonis, Gustavo J.
  作者单位：University of Toronto
  摘要：I study whether households make Pareto-efficient intrahousehold resource allocation decisions. Combining randomized variation in women's income generated by the evaluation of the Mexican PROGRESA program with variation attributable to localized rainfall shocks as distribution factors in the collective model, I find evidence favoring Pareto optimality. More specifically, female-specific income changes have positive effects on children's goods expenditures, whereas changes due to rainfall shocks...
• Asset Pricing Implications of Pareto Optimality with Private Information AI翻译
  作者：Kocherlakota, Narayana; Pistaferri, Luigi
  作者单位：Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; University of Minnesota System; University of Minnesota Twin Cities; National Bureau of Economic Research; Stanford University
  摘要：We compare the empirical performance of a standard incomplete markets asset pricing model with that of a novel model with constrained Pareto-optimal allocations. We represent the models' stochastic discount factors in terms of the cross-sectional distribution of consumption and use these representations to evaluate the models' empirical implications. The first model is inconsistent with the equity premium in the United States, United Kingdom, and Italy. The second model is consistent with the ...