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American Economic Journal-Economic Policy最新文献

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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
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
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
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
The Hazards of Unwinding the Prescription Opioid Epidemic: Implications for Child Maltreatment 解除处方阿片类药物流行的危害:对儿童虐待的影响
IF 5.3 1区 经济学
American Economic Journal-Economic Policy Pub Date : 2022-11-01 DOI: 10.1257/pol.20200301
M. Evans, Matthew C. Harris, Lawrence M. Kessler
{"title":"The Hazards of Unwinding the Prescription Opioid Epidemic: Implications for Child Maltreatment","authors":"M. Evans, Matthew C. Harris, Lawrence M. Kessler","doi":"10.1257/pol.20200301","DOIUrl":"https://doi.org/10.1257/pol.20200301","url":null,"abstract":"Child maltreatment has significant and long-lasting consequences. We examine how two interventions designed to curtail prescription opioid misuse, the reformulation of OxyContin and the implementation of must-access prescription drug monitoring programs (PDMPs), affected child maltreatment. Our results suggest counties with greater initial rates of prescription opioid usage experienced relatively larger increases in child physical abuse and neglect after OxyContin’s reformulation. We also find some evidence of increases in alleged physical abuse and neglect due to must-access PDMP implementation. Our results uncover unintended consequences for children of reducing the supply of an addictive good without adequate support for dependent users. (JEL I12, I18, J13, K32, K42, L65)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"198 1","pages":""},"PeriodicalIF":5.3,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79874108","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: 8
Adviser Value Added and Student Outcomes: Evidence from Randomly Assigned College Advisers 顾问增值和学生成绩:来自随机分配的大学顾问的证据
IF 5.3 1区 经济学
American Economic Journal-Economic Policy Pub Date : 2022-11-01 DOI: 10.1257/pol.20200778
Serena Canaan, Antoine Deeb, Pierre Mouganie
{"title":"Adviser Value Added and Student Outcomes: Evidence from Randomly Assigned College Advisers","authors":"Serena Canaan, Antoine Deeb, Pierre Mouganie","doi":"10.1257/pol.20200778","DOIUrl":"https://doi.org/10.1257/pol.20200778","url":null,"abstract":"This paper provides the first causal evidence on the impact of college adviser quality on student outcomes. To do so, we exploit a unique setting where students are randomly assigned to faculty advisers during their first year of college. We find that higher adviser value added (VA) substantially improves freshman year GPA, time to complete freshman year and four-year graduation rates. Additionally, higher adviser VA increases high-ability students’ likelihood of enrolling and graduating with a STEM degree. Our results indicate that allocating resources towards improving the quality of academic advising may play a key role in promoting college success. (JEL I23, I26, J24, J31, O15)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"29 1","pages":""},"PeriodicalIF":5.3,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87349228","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
Gerrymandering in State Legislatures: Frictions from Axiomatic Bargaining 州立法机构的不公正划分选区:公理议价的摩擦
IF 5.3 1区 经济学
American Economic Journal-Economic Policy Pub Date : 2022-11-01 DOI: 10.1257/pol.20190213
Hisam Sabouni, Cameron A. Shelton
{"title":"Gerrymandering in State Legislatures: Frictions from Axiomatic Bargaining","authors":"Hisam Sabouni, Cameron A. Shelton","doi":"10.1257/pol.20190213","DOIUrl":"https://doi.org/10.1257/pol.20190213","url":null,"abstract":"Theories of partisan redistricting postulate unitary actors maximizing their party’s expected seat share. Yet, the partition of a fixed supply of friendly voters necessarily implies a tragedy of the commons. We recast partisan redistricting as a bargaining game among the sitting representatives of the party controlling the map. The status quo is the threat point, explaining why changes are frequently minor. This bargaining framework implies that highly competitive districts will receive more help from redistricting if they are already represented by the party in charge. Employing a regression discontinuity design with precinct-level data, we find support for this prediction. (JEL C78, D72)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"40 1","pages":""},"PeriodicalIF":5.3,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79660673","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: 2
Mandatory Energy Efficiency Disclosure in Housing Markets 房屋市场的强制性能源效益披露
IF 5.3 1区 经济学
American Economic Journal-Economic Policy Pub Date : 2022-11-01 DOI: 10.1257/pol.20200539
Erica Myers, Steven L. Puller, Jeremy West
{"title":"Mandatory Energy Efficiency Disclosure in Housing Markets","authors":"Erica Myers, Steven L. Puller, Jeremy West","doi":"10.1257/pol.20200539","DOIUrl":"https://doi.org/10.1257/pol.20200539","url":null,"abstract":"Mandatory disclosure policies are implemented broadly despite sparse evidence that they improve market outcomes. We study the effects of requiring home sellers to provide buyers with certified audits of residential energy efficiency. Using similar nearby homes as a comparison group, we find that this requirement increases price premiums for energy efficiency and encourages energy-saving investments. We additionally present evidence highlighting the market failure—incomplete information by both buyers and sellers—that prevents widespread voluntary disclosure of energy efficiency in housing transactions. Our findings support that disclosure policies can improve market outcomes in settings with symmetrically incomplete information. (JEL D83, K32, L98, Q41, Q48, R31)","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"4 1","pages":""},"PeriodicalIF":5.3,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84074677","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: 9
Healthcare Rationing in Public Insurance Programs: Evidence from Medicaid. 公共保险计划中的医疗保健配给：医疗补助的证据。
IF 5.3 1区 经济学
American Economic Journal-Economic Policy Pub Date : 2022-11-01 DOI: 10.1257/pol.20190628
Timothy J Layton, Nicole Maestas, Daniel Prinz, Boris Vabson
{"title":"Healthcare Rationing in Public Insurance Programs: Evidence from Medicaid.","authors":"Timothy J Layton, Nicole Maestas, Daniel Prinz, Boris Vabson","doi":"10.1257/pol.20190628","DOIUrl":"10.1257/pol.20190628","url":null,"abstract":"","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"14 4","pages":"397-431"},"PeriodicalIF":5.3,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9945909/pdf/nihms-1867704.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"10800045","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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
Out of the Woodwork: Enrollment Spillovers in the Oregon Health Insurance Experiment. 出人意料:俄勒冈健康保险实验的招生溢出效应。
IF 5.3 1区 经济学
American Economic Journal-Economic Policy Pub Date : 2022-08-01 DOI: 10.1257/pol.20200172
Adam Sacarny, Katherine Baicker, Amy Finkelstein
{"title":"Out of the Woodwork: Enrollment Spillovers in the Oregon Health Insurance Experiment.","authors":"Adam Sacarny,&nbsp;Katherine Baicker,&nbsp;Amy Finkelstein","doi":"10.1257/pol.20200172","DOIUrl":"https://doi.org/10.1257/pol.20200172","url":null,"abstract":"<p><p>We analyze the impact of expanded adult Medicaid eligibility on the enrollment of already-eligible children. We analyze the 2008 Oregon Medicaid lottery, in which some low-income uninsured adults were randomly selected to be allowed to apply for Medicaid. Children in these households were eligible for Medicaid irrespective of the lottery outcome. We estimate statistically significant but transitory impacts of adult lottery selection on child Medicaid enrollment: at three months after the lottery, for every 9 adults who enrolled in Medicaid due to winning the lottery, one additional child also enrolled. Our results shed light on the existence, magnitude, and nature of so-called \"woodwork effects\".</p>","PeriodicalId":48093,"journal":{"name":"American Economic Journal-Economic Policy","volume":"14 3","pages":"273-295"},"PeriodicalIF":5.3,"publicationDate":"2022-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9576198/pdf/nihms-1810780.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"40340609","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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
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