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The Employment Effects of Countercyclical Public Investments 反周期公共投资的就业效应
IF 5.3 1区 经济学
American Economic Journal-Economic Policy Pub Date : 2023-02-01 DOI: 10.1257/pol.20180323
L. Buchheim, M. Watzinger
{"title":"The Employment Effects of Countercyclical Public Investments","authors":"L. Buchheim, M. Watzinger","doi":"10.1257/pol.20180323","DOIUrl":"https://doi.org/10.1257/pol.20180323","url":null,"abstract":"This paper estimates the causal impact of a sizable German public investment program on employment at the county level. The program focused on improving the energy efficiency of school buildings, making it possible to use the number of schools as an instrument for investments. It also enforced tight deadlines, reducing potential implementation lags. The program was cost-effective, creating, on average, one job for one year for an investment of €24,000. The employment gains are detectable after nine months and are accompanied by an unemployment reduction amounting to half of the job creation. Employment grew predominately in the directly affected industries. (JEL E24, E32, E62, H54, J23, R23)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"GE-19 1","pages":""},"PeriodicalIF":5.3,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84608819","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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: 1
Expanding Access to Clean Water for the Rural Poor: Experimental Evidence from Malawi 扩大农村贫困人口获得清洁水的机会:来自马拉维的实验证据
1区 经济学
American Economic Journal-Economic Policy Pub Date : 2023-02-01 DOI: 10.1257/pol.20210121
Pascaline Dupas, Basimenye Nhlema, Zachary Wagner, Aaron Wolf, Emily Wroe
{"title":"Expanding Access to Clean Water for the Rural Poor: Experimental Evidence from Malawi","authors":"Pascaline Dupas, Basimenye Nhlema, Zachary Wagner, Aaron Wolf, Emily Wroe","doi":"10.1257/pol.20210121","DOIUrl":"https://doi.org/10.1257/pol.20210121","url":null,"abstract":"Data from an 18-month randomized trial show large and sustained impacts on water purification and child health of a program providing monthly coupons for free water treatment solution to households with young children. The program is more effective and much more cost effective than asking Community Health Workers (CHWs) to distribute free chlorine to households during routine monthly visits. This is because only 40 percent of households use free chlorine, targeting through CHWs is worse than self-targeting through coupon redemption, and water treatment promotion by CHWs does not increase chlorine use among beneficiaries of free chlorine. (JEL I12, I18, J13, O12, O13, Q53)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136019484","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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
Economic Effects of Environmental Crises: Evidence from Flint, Michigan 环境危机的经济影响:来自密歇根州弗林特的证据
1区 经济学
American Economic Journal-Economic Policy Pub Date : 2023-02-01 DOI: 10.1257/pol.20190391
Gabriel Lade
{"title":"Economic Effects of Environmental Crises: Evidence from Flint, Michigan","authors":"Gabriel Lade","doi":"10.1257/pol.20190391","DOIUrl":"https://doi.org/10.1257/pol.20190391","url":null,"abstract":"In April 2014 Flint, Michigan switched its drinking water supply from the Detroit water system to the Flint River as a temporary means to save $5 million. Over 18 months it was revealed that the switch exposed residents to dangerous levels of lead, culminating in an emergency declaration in October 2015. This paper examines the impact of this crisis on the Flint housing market. The value of Flint’s housing stock has fallen by $520 million to $559 million despite over $400 million in remediation spending. Home prices remain depressed through August 2019, 16 months after the water was declared safe for consumption. (JEL H12, I12, Q25, Q51, Q53, R31)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136019482","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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
Front Matter 前页
1区 经济学
American Economic Journal-Economic Policy Pub Date : 2023-02-01 DOI: 10.1257/pol.15.1.i
{"title":"Front Matter","authors":"","doi":"10.1257/pol.15.1.i","DOIUrl":"https://doi.org/10.1257/pol.15.1.i","url":null,"abstract":"","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136168747","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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
Health Effects of Increasing Income for the Elderly: Evidence from a Chilean Pension Program 老年人收入增加对健康的影响:来自智利养老金计划的证据
IF 5.3 1区 经济学
American Economic Journal-Economic Policy Pub Date : 2023-02-01 DOI: 10.1257/pol.20200076
Enrico Miglino, Nicolás Navarrete H., Gonzalo Navarrete H., Pablo Navarrete H.
{"title":"Health Effects of Increasing Income for the Elderly: Evidence from a Chilean Pension Program","authors":"Enrico Miglino, Nicolás Navarrete H., Gonzalo Navarrete H., Pablo Navarrete H.","doi":"10.1257/pol.20200076","DOIUrl":"https://doi.org/10.1257/pol.20200076","url":null,"abstract":"We estimate the effect of a permanent income increase on the health outcomes of the elderly poor. Our regression discontinuity design exploits an eligibility cutoff in a Chilean basic pension program that grants monthly payments to retirees without a contributory pension. Using administrative data, we find that four years after applying, basic pension recipients are 2.7 percentage points less likely to have died. Survey evidence suggests an increase in food consumption and visits to health centers as relevant drivers of the mortality reduction. (JEL D63, G51, I12, I14, I38, J14, O15)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"74 1","pages":""},"PeriodicalIF":5.3,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88951549","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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: 3
Housing in Medicaid: Should It Really Change? 医疗补助中的住房:真的应该改变吗?
IF 5.3 1区 经济学
American Economic Journal-Economic Policy Pub Date : 2023-02-01 DOI: 10.1257/pol.20200178
Bertrand Achou
{"title":"Housing in Medicaid: Should It Really Change?","authors":"Bertrand Achou","doi":"10.1257/pol.20200178","DOIUrl":"https://doi.org/10.1257/pol.20200178","url":null,"abstract":"Housing is mostly exempted from Medicaid and Supplemental Social Insurance means tests. Reforms of this special treatment have been debated, but little is known about its costs, benefits, and redistributive implications. I estimate a life cycle model of single retirees accounting for this exemption. It shows that the homestead exemption explains important patterns of Medicaid recipiency and that it is highly valued. It also shows that estate recovery could cover most of its costs with possibly limited negative welfare consequences. Finally, the model predicts that removing the homestead exemption or enforcing estate recovery programs would reduce redistribution toward lower-income retirees. (JEL D15, G51, H51, I13, I18, I38, J26)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"1 1","pages":""},"PeriodicalIF":5.3,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82156674","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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: 5
The Extension of Credit with Nonexclusive Contracts and Sequential Banking Externalities 具有非排他性合同和顺序银行外部性的信贷扩展
IF 5.3 1区 经济学
American Economic Journal-Economic Policy Pub Date : 2023-02-01 DOI: 10.1257/pol.20200220
G. De Giorgi, Andrés Drenik, Enrique Seira
{"title":"The Extension of Credit with Nonexclusive Contracts and Sequential Banking Externalities","authors":"G. De Giorgi, Andrés Drenik, Enrique Seira","doi":"10.1257/pol.20200220","DOIUrl":"https://doi.org/10.1257/pol.20200220","url":null,"abstract":"Nonexclusive sequential borrowing can increase default and impose externalities on prior lenders. We document that sequential banking is pervasive with substantial effects. Using credit card applications from a large bank and data on the applicants’ entire loan portfolios, we find that an additional credit line causes a 5.9 percentage point decline in default for high-score borrowers on previous loans. However, for low-score borrowers, it causes a 19 percentage point increase. The former use the new credit to smooth payments on preexisting loans, while the latter increase their total debt. These results have implications for “ no-universal-default” regulation and financial inclusion. (JEL D62, D82, G21, G51)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"7 1","pages":""},"PeriodicalIF":5.3,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87279049","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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
Exploring Residual Profit Allocation 探索剩余利润分配
1区 经济学
American Economic Journal-Economic Policy Pub Date : 2023-02-01 DOI: 10.1257/pol.20200212
Sebastian Beer, Ruud A. De Mooij, Shafik Hebous, Michael Keen, Li Liu
{"title":"Exploring Residual Profit Allocation","authors":"Sebastian Beer, Ruud A. De Mooij, Shafik Hebous, Michael Keen, Li Liu","doi":"10.1257/pol.20200212","DOIUrl":"https://doi.org/10.1257/pol.20200212","url":null,"abstract":"Residual profit allocation (RPA) schemes have come to prominence in discussions of international tax reform but with almost nothing known about their economic impact. These schemes tax multinationals by allocating their “routine” profits to source countries and sharing their remaining “residual” profit across countries on some formulaic basis. This paper explores the implications, conceptual and empirical, of moving to some form of RPA. Residual profits are estimated to be substantial and concentrated in relatively few multinational enterprises. The impact on tax revenue appears beneficial for developing countries. Aggregate production efficiency is unlikely to increase unless routine profits are lightly taxed. (JEL F23, H25, H87, L25)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135803684","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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: 1
The Economic Consequences of Being Denied an Abortion 被拒绝堕胎的经济后果
1区 经济学
American Economic Journal-Economic Policy Pub Date : 2023-02-01 DOI: 10.1257/pol.20210159
Sarah Miller, Laura Wherry, Diana Foster
{"title":"The Economic Consequences of Being Denied an Abortion","authors":"Sarah Miller, Laura Wherry, Diana Foster","doi":"10.1257/pol.20210159","DOIUrl":"https://doi.org/10.1257/pol.20210159","url":null,"abstract":"This paper evaluates the financial and economic consequences of being denied an abortion. We link credit report data to the Turnaway Study, which collected high-quality, longitudinal data on women receiving or being denied a wanted abortion in the United States. We compare financial outcomes over a ten-year period for women who had pregnancies just above and below a gestational age limit allowing for a wanted abortion. Outcomes evolved similarly for the two groups prior to the abortion encounter. Following the encounter, women who were denied an abortion experience a large increase in financial distress that remains for several years. (JEL G51, I18, J13, J16)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"198 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135499816","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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: 4
Multinationals’ Sales and Profit Shifting in Tax Havens 跨国公司在避税天堂的销售和利润转移
IF 5.3 1区 经济学
American Economic Journal-Economic Policy Pub Date : 2022-11-01 DOI: 10.1257/pol.20200203
Sébastien Laffitte, F. Toubal
{"title":"Multinationals’ Sales and Profit Shifting in Tax Havens","authors":"Sébastien Laffitte, F. Toubal","doi":"10.1257/pol.20200203","DOIUrl":"https://doi.org/10.1257/pol.20200203","url":null,"abstract":"We show that US multinationals record sales and the profits from these sales in tax havens while their goods and services are physically sold in other countries. We propose a framework illustrating the strategy of sales shifting. Our results reveal the importance of tax havens, which attract a disproportionate fraction of worldwide sales. Our quantification shows a large contribution of sales shifting to multinationals’ profit shifting, which amounted to $80 billion in 2013. Our findings suggest that international corporate tax rules based on sales may not address profit shifting efficiently if the policy designs are unable to identify sales by destination. (JEL F23, H25, H26, H87, L25)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"20 1","pages":""},"PeriodicalIF":5.3,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87504423","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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: 4
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