American Economic Journal: Economic Policy

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Measuring the Output Responses to Fiscal Policy
American Economic Journal: Economic Policy - Tập 4 Số 2 - Trang 1-27 - 2012
Alan J. Auerbach, Yuriy Gorodnichenko
A key issue in current research and policy is the size of fiscal multipliers when the economy is in recession. We provide three insights. First, using regime-switching models, we find large differences in the size of spending multipliers in recessions and expansions with fiscal policy being considerably more effective in recessions than in expansions. Second, we estimate multipliers for more disag... hiện toàn bộ
Behavioral Responses to Wealth Taxes: Evidence from Sweden
American Economic Journal: Economic Policy - Tập 9 Số 4 - Trang 395-421 - 2017
David Seim
This paper provides an empirical assessment of an annual wealth tax. Using Swedish administrative data, I estimate net-of-tax-rate elasticities of taxable wealth in the range [0.09, 0.27]. Cross-checking self-reported assets against asset data unavailable to the tax agency reveals that around a third of the elasticity estimates are due to underreporting of asset values. Difference-in-difference de... hiện toàn bộ
Do Taxpayers Bunch at Kink Points?
American Economic Journal: Economic Policy - Tập 2 Số 3 - Trang 180-212 - 2010
Emmanuel Saez
This paper uses tax return data to analyze bunching at the kink points of the US income tax schedule. We estimate the compensated elasticity of reported income with respect to (one minus) the marginal tax rate using bunching evidence. We find clear evidence of bunching around the first kink point of the Earned Income Tax Credit but concentrated solely among the self-employed. A simple tax evasion ... hiện toàn bộ
Estimating Taxable Income Responses Using Danish Tax Reforms
American Economic Journal: Economic Policy - Tập 6 Số 4 - Trang 271-301 - 2014
Henrik Kleven, Esben Anton Schultz
This paper estimates taxable income responses using a series of Danish tax reforms and population-wide administrative data since 1980. The tax variation and data in Denmark makes it possible to overcome the biases from nontax changes in inequality and mean reversion that plague the existing literature. We provide compelling graphical evidence of taxable income responses, arguably representing the ... hiện toàn bộ
Greenhouse Gas Reductions under Low Carbon Fuel Standards?
American Economic Journal: Economic Policy - Tập 1 Số 1 - Trang 106-146 - 2009
Stephen P. Holland, Jonathan E. Hughes, Christopher R. Knittel
A low carbon fuel standard (LCFS) seeks to reduce greenhouse gas emissions by limiting the carbon intensity of fuels. We show this decreases high carbon fuel production but increases low carbon fuel production, possibly increasing net carbon emissions. The LCFS cannot be efficient, and the best LCFS may be nonbinding. We simulate a national LCFS on gasoline and ethanol. For a broad parameter range... hiện toàn bộ
Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated US Tax Policy Shocks
American Economic Journal: Economic Policy - Tập 4 Số 2 - Trang 145-181 - 2012
Karel Mertens, Morten O. Ravn
We provide evidence on the dynamic effects of tax liability changes in the United States. We distinguish between surprise and anticipated tax changes. Preannounced but not yet implemented tax cuts give rise to contractions in output, investment, and hours worked while real wages increase. There are no significant anticipation effects on aggregate consumption. Implemented tax cuts, regardless of th... hiện toàn bộ
Discrimination in Grading
American Economic Journal: Economic Policy - Tập 4 Số 4 - Trang 146-168 - 2012
Rema Hanna, Leigh Linden
We report the results of an experiment that was designed to test for discrimination in grading in India. We recruited teachers to grade exams. We randomly assigned child “characteristics” (age, gender, and caste) to the cover sheets of the exams to ensure that there is no relationship between these observed characteristics and the exam quality. We find that teachers give exams that are assigned to... hiện toàn bộ
Do Child Tax Benefits Affect the Well-being of Children? Evidence from Canadian Child Benefit Expansions
American Economic Journal: Economic Policy - Tập 3 Số 3 - Trang 175-205 - 2011
Kevin Milligan, Mark Stabile
We exploit changes in child benefits in Canada to study the impact of family income on child and family well-being. Using variation in child benefits across province, time, and family type, we study outcomes spanning test scores, mental health, physical health, and deprivation measures. The findings suggest that child benefit programs had significant positive effects on test scores, maternal healt... hiện toàn bộ
Would People Behave Differently If They Better Understood Social Security? Evidence from a Field Experiment
American Economic Journal: Economic Policy - Tập 7 Số 1 - Trang 275-299 - 2015
Jeffrey B. Liebman, Erzo F.P. Luttmer
This paper presents the results of a randomized field experiment that provided information about key Social Security features to older workers. The experiment was designed to examine whether it is possible to affect individual behavior using a relatively inexpensive informational intervention about the provisions of a public program and to explore the mechanisms underlying the behavior change. We ... hiện toàn bộ
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