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Market-Based Lobbying : Evidence from Advertising Spending in Italy
DellaVigna, Stefano - 2013
favorable regulation in return. We investigate this channel in Italy where government members, including the prime minister, are … to 2009, during which Silvio Berlusconi was prime minister on and off three times, while maintaining control of Italy … advertising budget towards Berlusconi's channels when Berlusconi is in power. Indeed, we document a significant pro-Mediaset bias …
Persistent link: https://www.econbiz.de/10013071306
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Matching Firms, Managers and Incentives
Bandiera, Oriana - 2012
We exploit a unique combination of administrative sources and survey data to study the match between firms and managers. The data includes manager characteristics, such as risk aversion and talent; firm characteristics, such as ownership; detailed measures of managerial practices relative to...
Persistent link: https://www.econbiz.de/10013115322
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Fiscal Fatigue, Fiscal Space and Debt Sustainability in Advanced Economies
Ghosh, Atish R. - 2011
How high can public debt rise without compromising fiscal solvency? We answer this question using a stochastic ability-to-pay model of sovereign default in which risk-neutral investors lend to a government that displays "fiscal fatigue," because its ability to increase primary balances cannot...
Persistent link: https://www.econbiz.de/10013130260
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How Does the U.S. Government Finance Fiscal Shocks?
Berndt, Antje - 2010
We develop a method for identifying and quantifying the fiscal channels that help finance government spending shocks. We define fiscal shocks as surprises in defense spending and show that they are more precisely identified when defense stock data are used in addition to aggregate macroeconomic...
Persistent link: https://www.econbiz.de/10013137024
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Estimating Time Preferences from Convex Budgets
Andreoni, James - 2010
Experimentally elicited discount rates are frequently higher than what one would infer from market interest rates and seem unreasonable for economic decision-making. Such high rates have often been attributed to present bias and hyperbolic discounting. A commonly recognized bias of standard...
Persistent link: https://www.econbiz.de/10013138321
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Fiscal Multipliers in Recession and Expansion
Auerbach, Alan J. - 2011
In this paper, we estimate government purchase multipliers for a large number of OECD countries, allowing these multipliers to vary smoothly according to the state of the economy and using real-time forecast data to purge policy innovations of their predictable components. We adapt our previous...
Persistent link: https://www.econbiz.de/10013120206
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Tax Expenditures, the Size and Efficiency of Government, and Implications for Budget Reform
Burman, Leonard E. - 2011
One possible explanation for the difficulty in controlling the budget is that a major component of spending --tax …
Persistent link: https://www.econbiz.de/10013121734
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Incidence and Allocation Effects of a State Fiscal Policy Shift : The Florio Initiatives in New Jersey
Bogart, William T. - 2011
We calculate the incidence of recent changes to the New Jersey state tax system on a sample of homeowners. Our analysis distinguishes between business-as-usual responses to an evolving fiscal situation and tax changes that constitute a surprise. The latter have incidence effects; the former do...
Persistent link: https://www.econbiz.de/10013124285
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Choosing Size of Government Under Ambiguity : Infrastructure Spending and Income Taxation
Manski, Charles F. - 2012
Attempting to shed light on the optimal size of government, economists have analyzed planning problems that specify a set of feasible taxation-spending policies and a social welfare function. The analysis characterizes the optimal policy choice of a planner who knows the welfare achieved by each...
Persistent link: https://www.econbiz.de/10013104080
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A Theory of the Perturbed Consumer with General Budgets
McFadden, Daniel L. - 2012
We consider demand systems for utility-maximizing consumers facing general budget constraints whose utilities are … foundation for applications of consumer theory to problems with nonlinear budget constraints …
Persistent link: https://www.econbiz.de/10013108254