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作者：Hellwig, Martin F.
作者单位：Max Planck Society
摘要：This paper studies the relation between Bayesian mechanism design and the Ramsey-Boiteux approach to the provision and pricing of excludable public goods. For a large economy with private information about individual preferences, the two approaches are shown to be equivalent if and only if, in addition to incentive compatibility and participation constraints, the final allocation of private-good consumption and admission tickets to public goods satisfies a condition of renegotiation proofness....
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作者：Faravelli, Marco
作者单位：University of Edinburgh; University of Milan
摘要：We explore distributive justice and perception of fairness using survey data from freshmen and senior students of economics and sociology. We analyse the impact of context and education on their preferences over a hypothetical distribution of resources between individuals which presents a trade off between efficiency and equality. With context giving minimal information, economics students are less likely to favour equality; studying economics influences the preferences of the subjects, increa...
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作者：Hagen, Kare P.; Sannarnes, Jan Gaute
作者单位：Norwegian School of Economics (NHH)
摘要：In this paper we explore what happens if the government bears some of the risk through a profit tax when the risk sharing in the venture capital market is incomplete due to non-observability of effort and moral hazard. If the external equity investors can enforce exclusive contracts with the entrepreneurs, the risk relief through a profit tax will lead to too much insurance and too low effort as compared with a second best optimal solution. Bond and Devereux [Bond, S.R. and Devereux, M.P. (199...
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作者：Doyle, Joseph J.
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：This paper uses a reform in Illinois that reduced the monthly subsidy offered to relatives asked to provide foster care as a plausibly exogenous change in the cost of caring for related children. Families offered a 30% lower wage were 15% less likely to provide care, with especially large declines for children who require mental health services, infants and teenagers. One innovation is a sample selection model that uses the foster care placement tendency of child protection investigators to pr...
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作者：Hernandez, Monica; Pudney, Stephen
作者单位：University of Essex; University of Sheffield
摘要：We consider the problem of modeling welfare participation when measurement error may affect simulated welfare entitlement. We identify a flaw in past implementations of the ML approach and develop a more appropriate ML approach. A model of welfare participation is estimated for British pensioners, linking the probability of participation to the value of benefit entitlement, incorporating the nonlinear rule relating entitlement to the household's income and financial assets. The model is used t...
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作者：Krashinsky, Harry
作者单位：University of Toronto
摘要：Income-maximizing consumers should vote in predictable ways: support for liberal, redistributive governments should fall as income rises. But weak empirical evidence for these voting patterns might suggest that voters are influenced by alternative factors, such as perceptions of social mobility from within-family learning. To examine these effects, this paper uses a data set of twins and a recently-developed econometric approach to show that within-family learning and family-specific effects a...
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作者：Flipo, Anne; Fougere, Denis; Olier, Lucile
作者单位：Institut Polytechnique de Paris; ENSAE Paris; Centre National de la Recherche Scientifique (CNRS)
摘要：Our paper examines the impact of tax reductions on the demand for services in the home. For that purpose, we estimate a structural model of demand for such services by using household individual data collected by INSEE (Paris) in 1996. In this model, the net hourly wage paid to the domestic employee, the household preferences for consumption of in-home services and the decision to take advantage of the tax reduction are considered as endogenous variables. Estimation of the econometric model us...
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作者：Lind, Jo Thori
作者单位：University of Oslo
摘要：I study the effect of voters with a group-based social conscience. Voters care more about the well-being of those belonging to their own group than the rest of the population. Within a model of political tax determination, both fractionalization and group antagonism reduce the support for redistribution. Whereas within group inequality increases support for redistribution, inequality between groups has the opposite effect. These results hold even if a poor group forms a majority. Using a panel...
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作者：Brown, Jeffrey R.; Liang, Nellie; Weisbenner, Scott
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; National Bureau of Economic Research
摘要：This paper examines how the menu of investment options made available to workers in defined contribution plans influences portfolio choice. Using unique panel data of 401(k) plans in the U.S., we present three principle findings. First, we show that the share of investment options in a particular asset class (i.e., company stock, equities, fixed income, and balanced funds) has a significant effect on aggregate participant portfolio allocations across these asset classes. Second, we document th...
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作者：Binswanger, Johannes
作者单位：Tilburg University
摘要：This paper studies two interrelated questions. First, is a pay-as-you-go (PAYG) pension component beneficial from a risk management point of view? Second, does optimal risk management of old-age consumption differ between different income groups? The analysis is based on so-called lexicographic loss aversion preferences. Interest in these preferences stems from the fact that they explain the cross-section of individuals' savings and asset allocation choices better than alternative models. I fi...
