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作者：Zwick, Eric; Mahon, James
作者单位：University of Chicago; National Bureau of Economic Research; Deloitte Touche Tohmatsu Limited
摘要：We estimate the effect of temporary tax incentives on equipment investment using shifts in accelerated depreciation. Analyzing data for over 120,000 firms, we present three findings. First, bonus depreciation raised investment in eligible capital relative to ineligible capital by 10.4 percent between 2001 and 2004 and 16.9 percent between 2008 and 2010. Second, small firms respond 95 percent more than big firms. Third, firms respond strongly when the policy generates immediate cash flows, but ...
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作者：Li, Shengwu
摘要：A strategy is obviously dominant if, for any deviation, at any information set where both strategies first diverge, the best outcome under the deviation is no better than the worst outcome under the dominant strategy. A mechanism is obviously strategy-proof (OSP) if it has an equilibrium in obviously dominant strategies. This has a behavioral interpretation: a strategy is obviously dominant if and only if a cognitively limited agent can recognize it as weakly dominant. It also has a classical ...
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作者：Ollar, Mariann; Penta, Antonio
作者单位：University of Groningen; University of Wisconsin System; University of Wisconsin Madison
摘要：Multiplicity of equilibria and the dependence on strong common knowledge assumptions are well-known problems in mechanism design. We address them by studying full implementation via transfer schemes, under general restrictions on agents' beliefs. We show that incentive-compatible transfers ensure uniqueness-and hence full implementation-if they induce sufficiently weak strategic externalities. We then design transfers for full implementation by using information on beliefs in order to weaken t...
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作者：Alvaredo, Facundo; Chancel, Lucas; Piketty, Thomas; Saez, Emmanuel; Zucman, Gabriel
作者单位：Paris School of Economics; Consejo Nacional de Investigaciones Cientificas y Tecnicas (CONICET); University of California System; University of California Berkeley; National Bureau of Economic Research
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作者：Apicella, Coren L.; Demiral, Elif E.; Mollerstrom, Johanna
作者单位：University of Pennsylvania; George Mason University; Humboldt University of Berlin; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; Research Institute of Industrial Economics (IFN)
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作者：Buser, Thomas; Peter, Noemi; Wolter, Stefan C.
作者单位：University of Amsterdam; University of Groningen; University of Bern
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作者：Fox, Jeremy T.
作者单位：Rice University
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作者：Veiga, Andre; Weyl, E. Glen; White, Alexander
作者单位：University of Oxford; University of Oxford; Microsoft; Yale University; Yale University; Tsinghua University; Tsinghua University
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作者：Deschenes, Olivier; Greenstone, Michael; Shapiro, Joseph S.
作者单位：University of California System; University of California Santa Barbara; IZA Institute Labor Economics; National Bureau of Economic Research; University of Chicago; Yale University
摘要：The demand for air quality depends on health impacts and defensive investments, but little research assesses the empirical importance of defenses. A rich quasi-experiment suggests that the Nitrogen Oxides (NOx) Budget Program (NBP), a cap-and-trade market, decreased NOx emissions, ambient ozone concentrations, pharmaceutical expenditures, and mortality rates. The annual reductions in pharmaceutical purchases, a key defensive investment, and mortality are valued at about $800 million and $1.3 b...
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作者：Martin, Philippe; Philippon, Thomas
作者单位：Institut d'Etudes Politiques Paris (Sciences Po); New York University; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research
摘要：We provide a comprehensive account of the dynamics of eurozone countries from 2000 to 2012. We analyze private leverage, fiscal policy, labor costs, and spreads, and we propose a model and an identification strategy to separate the impact of credit cycles, excessive government spending, and sudden stops. We then ask how periphery countries would have fared with different policies. We find that countries could have stabilized their employment if they had followed more conservative fiscal polici...
