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Persistent link: https://www.econbiz.de/10001227148
While the health risks associated with smoking are well known, the impact on income distributions is not. This paper extends the literature by examining the distributional effects of a behavioral choice, in this case smoking, on net marginal Social Security tax rates (NMSSTR). The results show...
Persistent link: https://www.econbiz.de/10010292226
Persistent link: https://www.econbiz.de/10003535245
In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since when house prices rise and mortgage rates are low, homeowners have an incentive to withdraw housing equity and this may affect the saving rate. We estimate a Vector Error...
Persistent link: https://www.econbiz.de/10009579380
Persistent link: https://www.econbiz.de/10009239368
hypothetical pensions U.S. workers would have obtained between 1911 and 1999 if they had accumulated retirement savings in … with a new system of mandatory defined-contribution private pensions. Proponents claim that private plans offer better … present in certain types of public retirement system, but a public system has one important advantage over private pensions …
Persistent link: https://www.econbiz.de/10011433577
This paper provides new estimates of the medium and long-term impacts of Head Start on the health and behavioral problems of its participants. We identify these impacts using discontinuities in the probability of participation induced by program eligibility rules. Our strategy allows us to...
Persistent link: https://www.econbiz.de/10010321475
We provide theoretical and empirical arguments in favor of a concave shape for the security market line, or a diminishing marginal premium for market risk. In capital market equilibrium with binding portfolio restrictions, different investors generally hold different sets of risky securities....
Persistent link: https://www.econbiz.de/10010500211
Cognitive dissonance theory predicts that the act of voting makes people more positive toward the party or candidate they have voted for. Following Mullainathan and Washington (2009), I test this prediction by using exogenous variation in turnout provided by the voting age restriction. I improve...
Persistent link: https://www.econbiz.de/10010321449
To internalize pollution externalities into household waste generation, Unit Pricing Systems (UPS) have been adopted worldwide. This paper evaluates the causal effects of a UPS on the disposal of municipal solid waste in Trento, Italy. To account for policy endogeneity due to unobservables, we...
Persistent link: https://www.econbiz.de/10011847939