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Statute of Limitations for Tax Evasion 逃税的诉讼时效
IF 1.5 3区 经济学
Kyklos Pub Date : 2025-02-04 DOI: 10.1111/kykl.12440
Raluca Pavel, Bernur Acikgoz, Jean-Christophe Poudou, Marc Willinger
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引用次数: 0
On a Transformation of the Gini Coefficient into a Well-Behaved Social Welfare Function 论基尼系数转化为一个规整的社会福利函数
IF 1.5 3区 经济学
Kyklos Pub Date : 2025-01-31 DOI: 10.1111/kykl.12420
Oded Stark
{"title":"On a Transformation of the Gini Coefficient into a Well-Behaved Social Welfare Function","authors":"Oded Stark","doi":"10.1111/kykl.12420","DOIUrl":"https://doi.org/10.1111/kykl.12420","url":null,"abstract":"<p>Following Sen’s (1973) characterization of the Gini coefficient as a ratio between a measure of aggregate income-based stress (“depression” in Sen’s terminology) and aggregate income, we transform the Gini coefficient into a social welfare function rather than having the Gini coefficient feature as an input in a social welfare function as in Sen (1973 and 1997), Sen (1976), and Sen (1982). The “Gini social welfare function” assigns weights that reflect preferences to aggregate income and to aggregate income-based stress (income inequality), a desirable property that a social welfare function in which the Gini coefficient features as an input does not have. The transformation bears on the formation of public policy and on the welfare analysis of policy interventions.</p>","PeriodicalId":47739,"journal":{"name":"Kyklos","volume":"78 2","pages":"301-304"},"PeriodicalIF":1.5,"publicationDate":"2025-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/kykl.12420","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143787098","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Early Evidence of “Finance for Normal People” in the First Era of Globalization 第一次全球化时代“普通人金融”的早期证据
IF 1.5 3区 经济学
Kyklos Pub Date : 2025-01-27 DOI: 10.1111/kykl.12439
Maxime Merli, Antoine Parent
{"title":"Early Evidence of “Finance for Normal People” in the First Era of Globalization","authors":"Maxime Merli,&nbsp;Antoine Parent","doi":"10.1111/kykl.12439","DOIUrl":"https://doi.org/10.1111/kykl.12439","url":null,"abstract":"<p>In this paper, we unearth a forgotten study of Pierre Des Essars, the director of research at the Banque de France in the late 19th century, enriched with comments from contemporary financial analysts. Des Essars provides the first and only existing example of the actual composition of French individual portfolios during the <i>Belle Époque</i>. By revisiting what is generally taught, our analyses show that many of the intuitions of “finance for normal people” were already present in the financial analysts' writings during the <i>Belle Époque</i>. Specifically, we show in an unprecedented way that these writings prefigure behavioral portfolio theory word for word a century before its emergence. In addition, our findings highlight that this popular science of investment was born from observations of individual portfolios and the objective of providing financial education for the masses. Finally, we reveal strong invariants in the construction of behavioral finance versus standard finance a century apart.</p>","PeriodicalId":47739,"journal":{"name":"Kyklos","volume":"78 2","pages":"718-728"},"PeriodicalIF":1.5,"publicationDate":"2025-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/kykl.12439","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143786739","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Serial Position Bias Among Experts: Evidence From a Cooking Competition Show 专家的连续立场偏差：来自烹饪比赛节目的证据
IF 1.5 3区 经济学
Kyklos Pub Date : 2025-01-19 DOI: 10.1111/kykl.12436
Maira Emy Reimão, Rachel Sabbadini, Eric Rego
{"title":"Serial Position Bias Among Experts: Evidence From a Cooking Competition Show","authors":"Maira Emy Reimão,&nbsp;Rachel Sabbadini,&nbsp;Eric Rego","doi":"10.1111/kykl.12436","DOIUrl":"https://doi.org/10.1111/kykl.12436","url":null,"abstract":"<div>\u0000 \u0000 <p><i>The Great British Bake Off</i> is a popular amateur cooking competition show, and its design offers an opportunity for analyzing serial position bias among expert rankings. In this paper, we use the technical challenge portion of the show to assess whether experts—in this case, the judges in the show—are susceptible to primacy or recency effects. We find that expert judges favor the first dish tasted in a blind test and that this pattern holds not only among judges of the British version of the show but also in other English-speaking versions. We do not find evidence of a recency effect. Our results indicate that expert assessments, regularly used in markets, are vulnerable to bias even when there are no financial incentives.</p>\u0000 </div>","PeriodicalId":47739,"journal":{"name":"Kyklos","volume":"78 2","pages":"701-717"},"PeriodicalIF":1.5,"publicationDate":"2025-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143787339","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Revisiting the Relationship Between Corruption and Press Freedom 重新审视腐败与新闻自由之间的关系
IF 1.5 3区 经济学
Kyklos Pub Date : 2025-01-14 DOI: 10.1111/kykl.12437
Towhid Iqram Mahmood, Jamie Bologna Pavlik
{"title":"Revisiting the Relationship Between Corruption and Press Freedom","authors":"Towhid Iqram Mahmood,&nbsp;Jamie Bologna Pavlik","doi":"10.1111/kykl.12437","DOIUrl":"https://doi.org/10.1111/kykl.12437","url":null,"abstract":"<div>\u0000 \u0000 <p>We use matching methods to explore the relationship between the control of corruption and press freedom from 1996–2016. We find evidence that increases in the control of corruption significantly elevates press freedom over both the four-year and eight-year horizon. These effects are strongest for the legal and political environment categories of press freedom. However, we find little evidence that press freedom influences the control of corruption overall, hypothesizing that this lack of an effect could be due to the absence of other complementary institutions (e.g., the rule of law and democracy) and/or because we are using perceptions-based corruption measurements. We find some evidence that press freedom, paired with a strong rule of law system, can reduce corruption. Our results also suggest that reducing press freedom in countries without such institutions is particularly harmful. Lastly, we find that press freedom reduces voter participation yet increases foreign direct investment, suggesting that the perceptions-based measures of corruption may not tell the full story.</p>\u0000 </div>","PeriodicalId":47739,"journal":{"name":"Kyklos","volume":"78 2","pages":"682-700"},"PeriodicalIF":1.5,"publicationDate":"2025-01-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143787336","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Indirect Consequences of Locally Observed Corruption on Taxpayers' Motivation to Cheat on Taxes 地方观察腐败对纳税人偷税动机的间接影响
IF 1.5 3区 经济学
Kyklos Pub Date : 2025-01-08 DOI: 10.1111/kykl.12435
Abu Bakkar Siddique
{"title":"Indirect Consequences of Locally Observed Corruption on Taxpayers' Motivation to Cheat on Taxes","authors":"Abu Bakkar Siddique","doi":"10.1111/kykl.12435","DOIUrl":"https://doi.org/10.1111/kykl.12435","url":null,"abstract":"<div>\u0000 \u0000 <p>Corruption undermines the fiscal agreement between governments and taxpayers, thereby reducing the motivation to fulfill tax obligations and leading to a rise in dishonest behavior among citizens. To examine the effects of corruption, this study utilizes the locally observed corruption question, which provides a new measure of corruption at the local level, in contrast to corruption measures offered by the typical national corruption perception question. Employing a multilevel hierarchical mixed-effect modeling approach, the analysis reveals that locally observed corruption substantially diminishes tax morale, a metric that assesses individuals' willingness not to cheat on taxes. Additionally, this paper identifies various factors that mediate the effects of corruption, including fairness in the tax system, ethnic diversity, and public policies. Furthermore, the study conducts several hypothesis tests to eliminate potential alternative explanations, such as the influence of peers and reduced expected costs of cheating resulting from exposed corruption.</p>\u0000 </div>","PeriodicalId":47739,"journal":{"name":"Kyklos","volume":"78 2","pages":"648-681"},"PeriodicalIF":1.5,"publicationDate":"2025-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143786996","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Little Lies, Sweet Little Lies: Motivations for Municipal Financial Statement Misclassification 小谎言，甜蜜的小谎言：市政财务报表分类错误的动机
IF 1.5 3区 经济学
Kyklos Pub Date : 2025-01-07 DOI: 10.1111/kykl.12432
Fabio Fiorillo, Federico Quaresima
{"title":"Little Lies, Sweet Little Lies: Motivations for Municipal Financial Statement Misclassification","authors":"Fabio Fiorillo,&nbsp;Federico Quaresima","doi":"10.1111/kykl.12432","DOIUrl":"https://doi.org/10.1111/kykl.12432","url":null,"abstract":"<p>This paper aims at shedding light on the plausible motivations for misclassification of a public accounting report. This issue has not been studied by scholars as much as misreporting. We will analyze misclassification errors which occurred in Italy from 2008 to 2010. In 2008, the municipal tax on main houses (Imposta comunale sugli immobili, ICI) was substituted with an intergovernmental grant of an equal amount. About 38% of municipalities did not register the compensatory grants in the correct budget line. Our analysis suggests that misclassification errors respond to a willingness to reduce external stakeholders' pressure on local governments decisions.</p>","PeriodicalId":47739,"journal":{"name":"Kyklos","volume":"78 2","pages":"607-630"},"PeriodicalIF":1.5,"publicationDate":"2025-01-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/kykl.12432","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143786992","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Do Inconsistent Public Opinions Explain Inconsistent Policies? 不一致的民意能解释不一致的政策吗？
IF 1.5 3区 经济学
Kyklos Pub Date : 2025-01-07 DOI: 10.1111/kykl.12433
Danko Tarabar
{"title":"Do Inconsistent Public Opinions Explain Inconsistent Policies?","authors":"Danko Tarabar","doi":"10.1111/kykl.12433","DOIUrl":"https://doi.org/10.1111/kykl.12433","url":null,"abstract":"<div>\u0000 \u0000 <p>This paper examines whether inconsistent public sentiments on capitalism may lead governments to adopt incoherent economic liberalization packages characterized by uneven attention to different policy areas. We propose that inconsistent sentiments obstruct political consensus-building on reform trajectory within governing coalitions. These questions are explored empirically using a sample of up to 25 postsocialist countries during the initial phase of their market transition (1991–2001). We present evidence that ideological inconsistency of the median voter—defined as the standard deviation of median capitalism-related sentiments among likely voters—is associated with more fractionalized governing coalitions along party lines and that, in turn, higher government fractionalization increases the dispersion of promarket policies. Countries with greater economic policy dispersion have historically experienced lower income growth rates, highlighting the importance of maintaining balanced reform paths.</p>\u0000 </div>","PeriodicalId":47739,"journal":{"name":"Kyklos","volume":"78 2","pages":"631-647"},"PeriodicalIF":1.5,"publicationDate":"2025-01-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143786993","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Distributional Effects of Expansionary Monetary Policy 扩张性货币政策的分配效应
IF 1.5 3区 经济学
Kyklos Pub Date : 2025-01-03 DOI: 10.1111/kykl.12438
Robert Gmeiner
{"title":"The Distributional Effects of Expansionary Monetary Policy","authors":"Robert Gmeiner","doi":"10.1111/kykl.12438","DOIUrl":"https://doi.org/10.1111/kykl.12438","url":null,"abstract":"<div>\u0000 \u0000 <p>Monetary expansion can lead to inflation. Using economy-wide measures, such as the all item CPI or the GDP deflator, these effects can be quantified, but this leaves open the question of which prices are inflating more, and thus whether monetary expansion is more harmful to the rich or poor, depending on their respective consumption patterns. This paper constructs quarterly consumer price indices specific to each income quintile in the United States from 1990 to 2022. Using transfer function autoregressive moving average models with exogenous regressors (ARMAX), significant inflationary effects of monetary expansion CPIs for the lowest income quintile are observed that are independent of changes in the CPI for higher income quintiles. More generally, households that are likely to spend a higher proportion of income on goods with inelastic demand experience higher inflation rates. These effects, which are robust to specification, are caused by monetary expansion from Federal Reserve purchases of government debt, but not other assets.</p>\u0000 </div>","PeriodicalId":47739,"journal":{"name":"Kyklos","volume":"78 2","pages":"587-606"},"PeriodicalIF":1.5,"publicationDate":"2025-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143786676","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Females in Corporate Business: Do Ownership and Homophily Matter in the Context of Tax Avoidance? 公司业务中的女性：所有权和同质性在避税背景下重要吗？
IF 1.5 3区 经济学
Kyklos Pub Date : 2024-12-27 DOI: 10.1111/kykl.12434
Saeed Rabea Baatwah, Khaled Hussainey, Mohammed Bajaher
{"title":"Females in Corporate Business: Do Ownership and Homophily Matter in the Context of Tax Avoidance?","authors":"Saeed Rabea Baatwah,&nbsp;Khaled Hussainey,&nbsp;Mohammed Bajaher","doi":"10.1111/kykl.12434","DOIUrl":"https://doi.org/10.1111/kykl.12434","url":null,"abstract":"<div>\u0000 \u0000 <p>This study revisits the evidence on the role of females in corporate outcomes by investigating the impact of female shareholders and their interactions with female directors on tax avoidance. We build our investigation on gender socialization and homophily theories and on data from an emerging market, Oman, for the period 2012–2019. Our fixed-effects regressions reveal that female shareholders are associated with lower tax avoidance. We also find that female shareholders and directors on the board interact to significantly reduce tax avoidance practices. In an additional analysis, we find that the effect of female shareholders is more pronounced in firms with low-quality audit committees and nonreligious CEOs. Interestingly, we also observe that female shareholders improve the quality of financial reports, consequently reducing tax avoidance. The main findings were verified using various robustness tests including alternative measures and research designs. The novelty of this study is that it provides innocent evidence on the role of female shareholders and their interaction with other females in firm tax activities.</p>\u0000 </div>","PeriodicalId":47739,"journal":{"name":"Kyklos","volume":"78 2","pages":"569-586"},"PeriodicalIF":1.5,"publicationDate":"2024-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143786738","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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