A Fast Literature Search Engine based on top-quality journals, by Dr. Mingze Gao.
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- Please kindly let me know [mingze.gao@mq.edu.au] in case of any errors.
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Results 541 resources
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We analyze the effects of top tax rates on international migration offootball players in 14 European countries since 1985. Both countrycase studies and multinomial regressions show evidence of strongmobility responses to tax rates, with an elasticity of the number offoreign (domestic) players to the net-of-tax rate around one (around0.15). We also find evidence of sorting effects (low taxes attract highabilityplayers who displace low-ability players) and displacementeffects (low taxes on foreigners displace domestic players). Thoseresults can be rationalized in a simple model of migration and taxationwith rigid labor demand.
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A growing body of research examines the regional effects of trade liberalization using a weighted average of trade policy changes across industries. This paper develops a specific-factors model of regional economies that provides a theoretical foundation for this intuitively appealing empirical approach and also provides guidance on treatment of the nontraded sector. In the context of Brazil's early 1990s trade liberalization, I find that regions facing a 10 percentage point larger liberalization-induced price decline experienced a 4 percentage point larger wage decline. The results also confirm the empirical relevance of appropriately dealing with the nontraded sector.
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We present the first causal estimates of the effect of Social SecurityDisability Insurance benefit receipt on labor supply using all programapplicants. We use administrative data to match applications todisability examiners and exploit variation in examiners' allowancerates as an instrument for benefit receipt. We find that among theestimated 23 percent of applicants on the margin of program entry,employment would have been 28 percentage points higher had theynot received benefits. The effect is heterogeneous, ranging fromno effect for those with more severe impairments to 50 percentagepoints for entrants with relatively less severe impairments.
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Following Grossman and Rossi-Hansberg (2008) we present a model in which tasks of varying complexity are matched to workers of varying skill in order to develop and test predictions regarding the effects of immigration and offshoring on US native-born workers. We find that immigrant and native-born workers do not compete much due to the fact that they tend to perform tasks at opposite ends of the task complexity spectrum, with offshore workers performing the tasks in the middle. An effect of offshoring and a positive effect of immigration on native-born employment suggest that immigration and offshoring improve industry efficiency.
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A bidding process can be organized so that offers are submittedsimultaneously or sequentially. In the latter case, potential buyerscan condition their behavior on previous entrants' decisions. Therelative performance of these mechanisms is investigated when entryis costly and selective, meaning that potential buyers with highervalues are more likely to participate. A simple sequential mechanismcan give both buyers and sellers significantly higher payoffs than thecommonly used simultaneous bid auction. The findings are illustratedwith parameters estimated from simultaneous entry USFS timberauctions where our estimates predict that the sequential mechanismwould increase revenue and efficiency.
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This paper analyzes the properties of runoff electoral systems whenvoters are strategic. A model of three-candidate runoff elections ispresented, and two new features are included: the risk of upset victoryin the second round is endogenous, and many types of runoff systemsare considered. Three main results emerge. First, runoff elections produce equilibria in which only two candidates receive a positive fraction of the votes. Second, a sincere voting equilibrium does not always exist. Finally, runoff systems with a threshold below 50 percent produce an Ortega effect that may lead to the systematic victory of theCondorcet loser.
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Choices involving risk significantly affect the distribution of incomeand wealth in society. This paper reports the results of the firstexperiment, to our knowledge, to study fairness views about risktaking,specifically whether such views are based chiefly on ex anteopportunities or on ex post outcomes. We find that, even thoughmany participants focus exclusively on ex ante opportunities, mostfavor some redistribution ex post. Many participants also makea distinction between ex post inequalities that reflect differencesin luck and ex post inequalities that reflect differences in choices.These findings apply to both stakeholders and impartial spectators.
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This paper provides new estimates of the macroeconomic effects of tax changes using a new narrative dataset for the United Kingdom. Identification is achieved by isolating ?exogenous? tax policy changes using the Romer and Romer narrative strategy. I find that a 1 percent cut in taxes increases GDP by 0.6 percent on impact and 2.5 percent over three years. The findings are remarkably similar to Romer and Romer narrative estimates for the United States, reinforcing the view that tax changes have powerful and persistent effects. ?Exogenous? tax changes are also shown to have contributed to important episodes in the UK business cycle.
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When the zero lower bound on nominal interest rates binds, monetarypolicy cannot provide appropriate stimulus. We show that, in thestandard New Keynesian model, tax policy can deliver such stimulusat no cost and in a time-consistent manner. There is no need to useinefficient policies such as wasteful public spending or future commitments to low interest rates.
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The purpose of this note is to analyze properties of the risk lovers? utility function beyond the positive sign of its second order derivative. We show that??contrarily to a priori beliefs??risk lovers are prudent and are willing to accumulate precautionary savings.
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Journals
- American Economic Review (237)
- Journal of Finance (67)
- Journal of Financial Economics (153)
- Review of Financial Studies (84)
Topic
- CEO (24)
- Bond (16)
- Mergers and Acquisitions (13)
- Capital Structure (11)
- Director (7)
Resource type
- Journal Article (541)