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Is a state bank a useful economic development tool in the United States?

Chirinko, Robert S. - 2022

The possibility of creating a state bank has received much recent attention in the United States. In 2021, six states … introduced legislation to create a state bank; in 2019, similar legislation was enacted in California for municipal banks. This … to traditional private banking and identifies five questions determining the advisability of creating a state bank. The …

Persistent link: https://www.econbiz.de/10013454018

Greenspan shrugs : central bank communication, formal pronouncements and bond market volatility

Chirinko, Robert S.; Curran, Christopher - 2013

This paper presents empirical evidence on one aspect of central bank communication policy - formal pronouncements by … central bank communication policy are addressed (see Figure 1 for a summary). We find that STF's matter for bond market … associated policy implication that pronouncements by the central bank may reduce welfare by overwhelming important private …

Persistent link: https://www.econbiz.de/10009743833

Can lower tax rates be bought? : business rent-seeking and tax competition among US States

Chirinko, Robert S.; Wilson, Daniel J. - 2010

The standard model of strategic tax competition assumes that government policymakers are perfectly benevolent, acting solely to maximize the utility of the representative resident in their jurisdiction. We depart from this assumption by allowing for the possibility that policymakers also may be...

Persistent link: https://www.econbiz.de/10003985850

Tax competition among U.S. states : racing to the bottom or riding on a seesaw?

Chirinko, Robert S.; Wilson, Daniel J. - 2011

Dramatic declines in capital tax rates among U.S. states and European countries have been linked by many commentators to tax competition and an inevitable "race to the bottom." This paper provides an empirical analysis of the reaction of capital tax policy in a given U.S. state to changes in...

Persistent link: https://www.econbiz.de/10009240807

Job creation tax credits, fiscal foresight, and job growth : evidence from U.S. states

Chirinko, Robert S.; Wilson, Daniel J. - 2016

This paper studies the effects of job creation tax credits (JCTCs) enacted by U.S. states between 1990 and 2007 to gain insights about fiscal foresight (alterations of current behavior by forwardlooking agents in anticipation of future policy changes). Nearly half of the states adopted JCTCs...

Persistent link: https://www.econbiz.de/10011432544

The substitution elasticity, factor shares, long-run growth, and the low-frequency panel model

Chirinko, Robert S.; Mallick, Debdulal - 2014

The value of the elasticity of substitution between labor and capital (ó) is a "crucial" assumption in the study of factor incomes (e.g., Piketty (2014a), Piketty and Zucman (forthcoming), Karabarbounis and Neiman (2014)) and long-run growth (Solow, 1956). This paper begins by examining the...

Persistent link: https://www.econbiz.de/10010383304

Fiscal policies for job creation and innovation : the experiences of US states

Chirinko, Robert S.; Wilson, Daniel J. - 2022

This paper reviews selected fiscal policy initiatives undertaken by US states to encourage job creation and innovation. We begin with a discussion of some general considerations about the design of tax policies summarized in a tax policy design table. Four policies are reviewed: job creation tax...

Persistent link: https://www.econbiz.de/10013473649

That elusive elasticity : a long-panel approach to estimating the capital-labor substitution elasticity : presented at CESifo Area Conference on Public Sector Economics, May 2004

Chirinko, Robert S.; Fazzari, Steven M.; Meyer, Andrew P. - 2004

The elasticity of substitution between capital and labor features prominently in several areas of economic research. However, a consensus estimate remains elusive. We develop an estimation strategy that filters panel data in an original way and avoids several pitfalls - difficult-to-specify...

Persistent link: https://www.econbiz.de/10011450090