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作者：Barseghyan, Levon; Coate, Stephen
作者单位：Cornell University
摘要：This paper presents a dynamic Tiebout model and uses it to revisit a classic argument in public finance. The argument, due to Hamilton (1975), is that a system of governments financing services with property taxes will produce an efficient allocation of housing and services if governments can implement zoning ordinances. In the model, when governments choose zoning along with taxes and services, there does not exist an equilibrium that is both efficient and locally stable. Moreover, there exis...
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作者：Brooks, Leah; Lutz, Byron
作者单位：George Washington University; Federal Reserve System - USA
摘要：Because cities are constrained by the boundaries of land ownership, fundamental urban modifications require land delineation changes. We evaluate whether there is enough land assembly-the joining together of two or more parcels of land-to put land to its highest value use. We hypothesize that in the absence of market frictions such as holdouts, the price of land sold for assembly should not exceed the price of land sold for other uses. Empirically, we find that to-be-assembled land in Los Ange...
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作者：Lleras-Muney, Adriana; Shertzer, Allison
作者单位：University of California System; University of California Los Angeles; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：We provide the first estimates of the effect of statutes requiring English as the language of instruction and compulsory schooling laws on the school enrollment, work, literacy, and English fluency of immigrant children during the Americanization period (1910-1930). English-only statutes moderately increased the literacy of certain foreign-born children, particularly those living in cities or whose parents were not fluent in English. However, these laws had no impact on immigrants' eventual la...
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作者：Handley, Kyle; Limao, Nuno
作者单位：University of Michigan System; University of Michigan; University System of Maryland; University of Maryland College Park
摘要：In a dynamic model with sunk export costs, a firm's export investment is lower under trade policy uncertainty, and credible preferential trade agreements (PTAs) increase trade even if current tariffs are low. Exploring Portugal's accession to the European Community as a policy uncertainty shock we find that the trade reform accounted for a large fraction of Portuguese exporting firms' entry and sales; the accession removed uncertainty about future EC trade policies; and this uncertainty channe...
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作者：Klier, Thomas; Linn, Joshua
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago; Resources for the Future
摘要：France, Germany, and Sweden link taxes to passenger vehicles' carbon dioxide (CO2) emissions rates. Based on new vehicle registration data from 2005 to 2010, we find that CO2 taxes reduce registrations. The effect is larger in France than in either Germany or Sweden, and the French results are robust to alternative estimation models. Compared with those of France, the German results vary somewhat more, and the Swedish estimates are the least robust. We find some evidence that the French tax af...
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作者：Gil, Ricard
作者单位：Johns Hopkins University
摘要：I empirically examine the impact of the 1948 Paramount antitrust case on ticket prices using a unique dataset collected from Variety magazine issues between 1945 and 1955. With information on prices, revenues, and theater ownership for an unbalanced panel of 393 theaters in 26 cities, I find that vertically integrated theaters charged lower prices and sold more admission tickets than nonintegrated theaters. I also find that the rate at which prices increased in theaters was slower while integr...
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作者：Fisher, Lynn M.; Lambie-Hanson, Lauren; Willen, Paul
作者单位：University of North Carolina; University of North Carolina Chapel Hill; Federal Reserve System - USA; Federal Reserve Bank - Philadelphia; Federal Reserve System - USA; Federal Reserve Bank - Boston
摘要：We measure the effect of foreclosures on the sale prices of nearby properties using a dataset of condominiums in Boston. A foreclosure in the same association and at the same address depresses the sale price by 2.5 percent, but properties in the same association but located at a different address have an effect that is tightly estimated at zero. Since properties in the same association are close substitutes, we argue that the evidence points against the pecuniary externality of property coming...
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作者：Barcellos, Silvia Helena; Jacobson, Mireille
作者单位：University of Southern California; University of California System; University of California Irvine; National Bureau of Economic Research
摘要：Medicare offers substantial protection from medical expenditure risk, protection that has increased in recent years. At age 65, out-of-pocket expenditures drop by 33 percent at the mean and 53 percent at the ninety-fifth percentile. Medical-related financial strain, such as difficulty paying bills and collections agency contact, is dramatically reduced. Nonetheless, using a stylized expected utility framework, the gain from reducing out-of-pocket expenditures accounts for only 18 percent of th...
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作者：Winston, Clifford; Yan, Jia
作者单位：Brookings Institution; Washington State University
摘要：The United States has negotiated bilateral open skies agreements to deregulate airline competition on US international routes, but little is known about their effects on travelers' welfare and the gains from the US negotiating agreements with more countries. We develop a model of international airline competition to estimate the effects of open skies agreements on fares and flight frequency. We find the agreements have generated at least $4 billion in annual gains to travelers and that travele...
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作者：Fitzpatrick, Maria Donovan
作者单位：Cornell University
摘要：Public sector employees receive large fractions of their lifetime income in the form of deferred compensation. The introduction of the opportunity provided to Illinois public school employees to purchase additional pension benefits allows me to estimate employees' willingness-to-pay for benefits relative to the cost of providing them. The results show employees are willing to pay 20 cents on average for a dollar increase in the present value of expected retirement benefits. The findings sugges...
