American Economic Journal: Economic Policy

最新文章

• Tax Audits as Scarecrows: Evidence from a Large-Scale Field Experiments AI翻译
  作者：Bergolo, Marcelo; Ceni, Rodrigo; Cruces, Guillermo; Giaccobasso, Matias; Perez-Truglia, Ricardo
  作者单位：Universidad de la Republica, Uruguay; Universidad de la Republica, Uruguay; Consejo Nacional de Investigaciones Cientificas y Tecnicas (CONICET); National University of La Plata; University of Nottingham; University of California System; University of California Los Angeles; University of California System; University of California Berkeley
  摘要：The canonical model of Allingham and Sandmo (1972) predicts that firms evade taxes by optimally trading off between the costs and ben-efits of evasion. However, there is no direct evidence that firms react to audits in this way. We conducted a large-scale field experiment in collaboration with a tax authority to address this question. We sent letters to 20,440 small-and medium-sized firms that collectively paid more than US$200 million in taxes per year. We find that providing information abou...
• SOEs and Soft Incentive Constraints in State Bank Lending AI翻译
  作者：Cao, Yiming; Fisman, Raymond; Lin, Hui; Wang, Yongxiang
  作者单位：Boston University; National Bureau of Economic Research; Nanjing University; The Chinese University of Hong Kong, Shenzhen; Shanghai Jiao Tong University
  摘要：We study how Chinese state bank managers'lending incentives impact lending to state-owned enterprises (SOEs). We show lending quantity increases and quality decreases at month's end, indicating monthly lending targets that decrease lending standards. Increased quantity comes from both SOEs and private lending, whereas decreased qual-ity is from only SOEs, which continue to receive loans even after prior defaults (particularly at month's end). We suggest that SOE lending may thus be beneficial ...
• The Extension of Credit with Nonexclusive Contracts and Sequential Banking Externalitiest AI翻译
  作者：De Giorgi, Giacomo; Drenik, Andres; Seira, Enrique
  作者单位：University of Geneva; University of Texas System; University of Texas Austin
  摘要：Nonexclusive sequential borrowing can increase default and impose externalities on prior lenders. We document that sequential banking is pervasive with substantial effects. Using credit card applications from a large bank and data on the applicants' entire loan portfo-lios, we find that an additional credit line causes a 5.9 percentage point decline in default for high-score borrowers on previous loans. However, for low-score borrowers, it causes a 19 percentage point increase. The former use ...
• Do Credit Supply Shocks Affect Employment in Middle-Income Countries? AI翻译
  作者：Gutierrez, Emilio; Jaume, David; Tobal, Martin
  作者单位：Instituto Tecnologico Autonomo de Mexico
  摘要：This paper studies the effect of bank credit supply shocks on for-mal employment in Mexico using a proprietary dataset containing information on all loans extended to firms by commercial banks during 2010-2015. We find large impacts on the formal employment of small and medium firms: a positive credit shock of 1 standard deviation increases yearly employment by 1.4 percentage points. The shares of uncollateralized credit and credit received by family firms, younger firms, and firms with no pre...
• Implications of Tax Loss Asymmetry for Owners of S Corporations AI翻译
  作者：Goodman, Lucas; Patel, Elena; Saunders-Scott, Molly
  作者单位：United States Department of the Treasury; Utah System of Higher Education; University of Utah; Congressional Budget Office
  摘要：We study tax loss asymmetry for S corporate owners. These own-ers use most losses contemporaneously, reducing the tax asymmetry compared to C corporations. However, these owners face distor-tions due to the progressive individual tax schedule. The value of this asymmetry is approximately $3.5 billion per year. We find that this asymmetry creates disincentives for risky investment and causes allocative inefficiencies among loss and gains owners. Finally, we simulate the effects of certain provi...
• Voting for Democracy: Chile's Plebiscito and the Electoral Participation of a Generations AI翻译
  作者：Kaplan, Ethan; Saltiel, Fernando; Urzua, Sergio
  作者单位：University System of Maryland; University of Maryland College Park; McGill University
  摘要：This paper assesses the long-term consequences of voting for democracy. We study Chile's 1988 plebiscite, which ended 15 years of dictatorship and reestablished democracy. Taking advantage of individual-level voting data, we implement an age-based regression discontinuity design comparing long-run registration and turnout rates across marginally eligible and ineligible individuals. We find plebiscite eligibility increased electoral turnout three decades later. The magnitude of the initial mobi...
• Immigrant Integration in the United States: The Role of Adult English Language Training AI翻译
  作者：Heller, Blake h.; Mumma, Kirsten slungaard
  作者单位：University of Houston System; University of Houston; Boston University
  摘要：The ability to speak and understand a host country's primary language is strongly associated with measures of immigrant integration. We estimate the causal effects of English language training for adult immigrants on participants' civic and economic outcomes using randomized enrollment lotteries from a public adult education program in Massachusetts. Participation doubles voter participation and increases annual earnings by $2,400 (56 percent). Increased tax revenue from earnings gains cover p...
• Public and Private Options in Practice: The Military Health Systems AI翻译
  作者：Frakes, Michael D.; Gruber, Jonathan; Justicz, Timothy
  作者单位：Duke University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT)
  摘要：Recent debates over health care reform, including in the context of the Military Health System (MHS) and Veterans Administration, highlight the dispute between public and private provision of health care services. Using novel data on childbirth claims from the MHS and drawing on the combination of plausibly exogenous patient moves and heterogeneity across bases in the availability of base hos-pitals, we identify the impact of receiving obstetrical care on versus off military bases. We find evi...
• My Professor Cares: Experimental Evidence on the Role of Faculty Engagement AI翻译
  作者：Carrell, Scott E.; Kurlaender, Michal
  作者单位：University of Texas System; University of Texas Austin
  摘要：We provide experimental evidence on the impact of specific fac-ulty behaviors aimed at increasing student success for college stu-dents from historically underrepresented groups. The intervention was developed after conducting in-person focus groups and a pilot experiment. We find significant positive treatment effects across a multitude of short-and longer-run outcomes. Specifically, underrep-resented students in the treatment report more positive perceptions of the professor and earned highe...
• Market Power and Price Exposure: Learning from Changes in Renewable Energy Regulation AI翻译
  作者：Fabra, Natalia; Imelda
  作者单位：Universidad Carlos III de Madrid; Centre for Economic Policy Research - UK
  摘要：Given the critical role of renewable energies in current and future electricity markets, it is important to understand how they affect firms' pricing incentives. We study whether the price-depressing effect of renewables depends on their degree of market price exposure. Paying renewables with fixed prices, rather than market-based prices, is more effective at curbing market power when the dominant firms own large shares of renewables, and vice versa. Our empirical analysis leverages several sh...