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作者：Egert, Balazs
作者单位：Universite Paris Nanterre; Organisation for Economic Co-operation & Development (OECD); Organisation for Economic Co-operation & Development (OECD)
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作者：Saez, Emmanuel; Stantcheva, Stefanie
作者单位：University of California System; University of California Berkeley; Harvard University
摘要：This paper proposes to evaluate tax reforms by aggregating money metric losses and gains of different individuals using generalized social marginal welfare weights. Optimum tax formulas take the same form as standard welfarist tax formulas by simply substituting standard marginal social welfare weights with those generalized weights. Weights directly capture society's concerns for fairness without being necessarily tied to individual utilities. Suitable weights can help reconcile discrepancies...
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作者：Alvarez, Fernando; Le Bihan, Herve; Lippi, Francesco
作者单位：University of Chicago; European Central Bank; Bank of France; University of Sassari
摘要：We prove that the ratio of kurtosis to the frequency of price changes is a sufficient statistic for the real effects of monetary shocks, measured by the cumulated output response following the shock. The sufficient statistic result holds in a large class of models which includes Taylor (1980); Calvo (1983); Reis (2006); Golosov and Lucas (2007); Nakamura and Steinsson (2010); Midrigan (2011); and Alvarez and Lippi (2014). Several models in this class are able to account for the positive excess...
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作者：Mitman, Kurt
作者单位：Stockholm University; Centre for Economic Policy Research - UK
摘要：I study the implications of two major debt-relief policies in the United States: the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) and the Home Affordable Refinance Program (HARP). To do so, I develop a model of housing and default that includes relevant dimensions of credit-market policy and captures rich heterogeneity in household balance sheets. The model also explains the observed cross-state variation in consumer default rates. I find that BAPCPA significantly reduced b...
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作者：Ide, Enrique; Montero, Juan-Pablo; Figueroa, Nicolas
作者单位：Stanford University; Pontificia Universidad Catolica de Chile
摘要：To what extent can an incumbent manufacturer use discount contracts to foreclose efficient entry? We show that off-list-price rebates that do not commit buyers to unconditional transfers-like the rebates in EU Commission v. Michelin II, for instance-cannot be anticompetitive. This is true even in the presence of cost uncertainty, scale economies, or intense downstream competition, all three market settings where exclusion has been shown to emerge with exclusive dealing contracts. The differenc...
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作者：Oster, Emily; Shoulson, Ira; Dorsey, E. Ray
作者单位：Brown University; Georgetown University; University of Rochester
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作者：Borra, Cristina; Gonzalez, Libertad; Sevilla, Almudena
作者单位：University of Sevilla; Pompeu Fabra University; Barcelona School of Economics; University of London; Queen Mary University London
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作者：Justiniano, Alejandro; Primiceri, Giorgio E.; Tambalotti, Andrea
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago; Northwestern University; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - New York
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作者：Shiller, Robert J.
作者单位：Yale University
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作者：Chetty, Raj; Hendren, Nathaniel; Katz, Lawrence F.
作者单位：Stanford University; Harvard University; National Bureau of Economic Research
摘要：The Moving to Opportunity (MTO) experiment offered randomly selected families housing vouchers to move from high-poverty housing projects to lower-poverty neighborhoods. We analyze MTO's impacts on children's long-term outcomes using tax data. We find that moving to a lower-poverty neighborhood when young (before age 13) increases college attendance and earnings and reduces single parenthood rates. Moving as an adolescent has slightly negative impacts, perhaps because of disruption effects. Th...
