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Taxing Top Wealth : Migration Responses and their Aggregate Economic Implications
Jakobsen, Katrine; Kleven, Henrik Jacobsen; Kolsrud, Jonas - National Bureau of Economic Research - 2024
Using administrative data on wealth, firm ownership structure, and migration in Sweden and Denmark, we document international migration patterns among the very wealthy, their impact on the economy, and how they respond to wealth taxation. We show that more than 20% of taxpayers liable to pay...
Persistent link: https://www.econbiz.de/10014486244
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Managing Mental Accounts : Payment Cards and Consumption Expenditures
Gelman, Michael; Roussanov, Nikolai - National Bureau of Economic Research - 2023
Does mental accounting matter for total consumption expenditures? We exploit a unique setting in which individuals exogenously received a new credit card, without requesting one. Using random variation in the time of receipt we show that individuals temporarily increase total consumption...
Persistent link: https://www.econbiz.de/10014337846
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More Unequal We Stand? : Inequality Dynamics in the United States 1967-2021
Heathcote, Jonathan; Perri, Fabrizio; Violante, Giovanni L. - National Bureau of Economic Research - 2023
Heathcote et al. (2010) conducted an empirical analysis of several dimensions of inequality in the United States over …, the gender wage gap has kept shrinking. Both individual- and household-level income inequality have continued to rise at … the top, while the cyclical component of inequality dominates dynamics below the median. Inequality in consumption …
Persistent link: https://www.econbiz.de/10014322873
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Price Discrimination and Mortgage Choice
Coen, Jamie; Kashyap, Anil K.; Rostom, May - National Bureau of Economic Research - 2023
We characterize the large number of mortgage offers for which people qualify in the United Kingdom. Very few pick the cheapest option, nonetheless the one selected is not usually noticeably more expensive. A few borrowers make very expensive choices. These are most common when the menu they face...
Persistent link: https://www.econbiz.de/10014372409
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Top Income Inequality and Tax Policy
Delestre, Isaac; Kopczuk, Wojciech; Miller, Helen; … - National Bureau of Economic Research - 2022
The share of pre-tax income flowing to the top of the UK income distribution increased continually and substantially in the three decades leading up to the financial crisis, but has changed little since 2013. Using microdata sampled from UK tax records, we describe the nature of top incomes in...
Persistent link: https://www.econbiz.de/10013210046
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Utility and Happiness
Kimball, Miles S.; Willis, Robert J. - National Bureau of Economic Research - 2023
Psychologists have developed effective survey methods of measuring how happy people feel at a given time. The relationship between how happy a person feels and utility is an unresolved question. Existing work in Economics either ignores happiness data or assumes that felt happiness is more or...
Persistent link: https://www.econbiz.de/10014372464
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Welfare Accounting
Dávila, Eduardo; Schaab, Andreas - National Bureau of Economic Research - 2023
This paper develops a welfare accounting decomposition that identifies and quantifies the ultimate origins of welfare gains and losses in general economies with heterogeneous individuals and disaggregated production. The decomposition---exclusively based on preferences and technologies---first...
Persistent link: https://www.econbiz.de/10014372473
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From Happiness Data to Economic Conclusions
Benjamin, Daniel J.; Cooper, Kristen B; Heffetz, Ori; … - National Bureau of Economic Research - 2023
Happiness data--survey respondents' self-reported well-being (SWB)--have become increasingly common in economics research, with recent calls to use them in policymaking. Researchers have used SWB data in novel ways, for example to learn about welfare or preferences when choice data are...
Persistent link: https://www.econbiz.de/10014372484
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Adjusting for Scale-Use Heterogeneity in Self-Reported Well-Being
Benjamin, Daniel J.; Cooper, Kristen B; Heffetz, Ori; … - National Bureau of Economic Research - 2023
Analyses of self-reported-well-being (SWB) survey data may be confounded if people use response scales differently. We use calibration questions, designed to have the same objective answer across respondents, to measure dimensional (i.e., specific to an SWB dimension) and general (i.e., common...
Persistent link: https://www.econbiz.de/10014372485
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Why is Trade Not Free? : A Revealed Preference Approach
Adão, Rodrigo; Costinot, Arnaud; Donaldson, Dave; … - National Bureau of Economic Research - 2023
A prominent explanation for why trade is not free is politicians' desire to protect some of their constituents at the expense of others. In this paper we develop a methodology that can be used to reveal the welfare weights that a nation's import tariffs implicitly place on different groups of...
Persistent link: https://www.econbiz.de/10014421223