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作者：Ferey, Antoine; Lockwood, Benjamin B.; Taubinsky, Dmitry
作者单位：National Bureau of Economic Research; University of California System; University of California Berkeley
摘要：This paper provides empirically implementable sufficient statistics formulas for optimal nonlinear tax systems in the presence of across-income heterogeneity in preferences, , inheritances, , income-shifting capabilities, , and other sources. We characterize optimal smooth tax systems on income and savings ( or other commodities), as well as simpler tax systems. We use familiar elasticity concepts and a novel sufficient statistic for heterogeneity correlated with earnings ability: the differen...
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作者：Brooks, Benjamin; Frankel, Alexander; Kamenica, Emir
作者单位：University of Chicago; University of Chicago
摘要：A signal is a description of an information source that specifies both its correlation with the state and its correlation with other signals. Extending Blackwell ( 1953 ) , we characterize when one signal is more valuable than another regardless of preferences and regardless of access to other signals. This comparison is equivalent to reveal- or-refine: every realization of the more valuable signal reveals the state or refines the realization of the less valuable signal. We also study other co...
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作者：Kwon, Spencer Y.; Ma, Yueran; Zimmermann, Kaspar
作者单位：Brown University; University of Chicago; National Bureau of Economic Research; Frankfurt School Finance & Management
摘要：We collect data on the size distribution of US businesses for 100 years , and use these data to estimate the concentration of production ( e.g. , asset share or sales share of top businesses ) . The data show that concentration has increased persistently over the past century. Rising concentration was stronger in manufacturing and mining before the 1970s , and stronger in services , retail , and wholesale after the 1970s. The results are robust to different measurement methods and consistent a...
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作者：Ganong, Peter; Greig, Fiona; Noel, Pascal; Sullivan, Daniel M.; Vavra, Joseph
作者单位：University of Chicago; National Bureau of Economic Research
摘要：We show that the largest increase in unemployment benefits in US history had large spending impacts and small job-finding impacts. This finding has three implications. First, increased benefits were important for explaining aggregate spending dynamics-but not employment dynamics-during the pandemic. Second, benefit expansions allow us to study the MPC of normally low-liquidity households in a high-liquidity state. These households still have high MPCs. This suggests a role for permanent behavi...
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作者：Keller, Lorena
作者单位：University of Pennsylvania
摘要：I propose and test a new channel through which covered interest rate parity (CIP) deviations can affect bank lending in emerging econo-mies. I argue that when CIP deviations exist, banks attempt to arbi-trage them. To do so, banks must borrow in a particular currency. When this currency is scarce, bank lending in the currency required to arbitrage decreases, while they use this currency in their arbitrage activities. I test this channel by exploiting differences in the abilities of Peruvian ba...
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作者：Alesina, Alberto; Carlana, Michela; La Ferrara, Eliana; Pinotti, Paolo
作者单位：Harvard University; Center for Economic & Policy Research (CEPR); Harvard University; National Bureau of Economic Research; National Bureau of Economic Research; Harvard University; Bocconi University
摘要：We study how people change their behavior after being made aware of bias. Teachers in Italian schools give lower grades to immigrant students relative to natives of comparable ability. In two experiments , we reveal to teachers their own stereotypes , measured by an Implicit Association Test ( IAT ) . In the first , we find that learning one's IAT before assigning grades reduces the native-immigrant grade gap. In the second , IAT disclosure and generic debiasing have similar average effects , ...
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作者：Gentzkow, Matthew; Shapiro, Jesse m.; Yang, Frank; Yurukoglu, Ali
作者单位：Stanford University; National Bureau of Economic Research; Harvard University
摘要：Existing theories of media competition imply that advertisers will pay a lower price in equilibrium to reach consumers who multi -home across competing outlets. We generalize and extend this theoretical result and test it using data from television and social media advertising. We find that the model is a good match, qualitatively and quantitatively, to variation in advertising prices across demographic groups, outlets, platforms, and over time. We use the model to quantify the effects of comp...
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作者：Chambru, Cedric; Henry, Emeric; Marx, Benjamin
作者单位：Centre National de la Recherche Scientifique (CNRS); Ecole Normale Superieure de Lyon (ENS de LYON); Institut d'Etudes Politiques Paris (Sciences Po); Boston University; National Bureau of Economic Research
摘要：How do radical reforms shape economic development over time? In 1790, the French Constituent Assembly overhauled the kingdom's organization to establish new local capitals. In some departments, the choice of local capitals over rival candidate cities was plausibly exogenous. We study how changes in administrative presence affect state capacity and development in the ensuing decades. In the short run, administrative proximity increases taxation and investments in law enforcement. In the long ru...
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作者：Anderson, Axel; Smith, Lones
作者单位：Georgetown University; University of Wisconsin System; University of Wisconsin Madison
摘要：We create a general and tractable theory of increasing sorting in pairwise matching models with monetary transfers. The positive quadrant dependence partial order subsumes Becker (1973) as the extreme cases with most and least sorting and implies increasing regression coefficients. Our theory turns on synergy-the cross -partial difference or derivative of match production. This reflects basic economic forces: diminishing returns, technological convexity, insurance, and learning dynamics. We pr...
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作者：Quincy, Sarah
作者单位：Vanderbilt University; National Bureau of Economic Research
摘要：This paper identifies how bank branching benefited local economies during the Great Depression. Using archival data and narrative evidence, I show how Bank of America's branch network in 1930s California created an internal capital market that diversified away local liquidity shortfalls, allowing the bank to maintain 49 percent higher credit growth from 1929 to 1933 than competing banks. The bank's presence mitigated cites' property value contractions and strengthened their recovery through 19...
