equilibrium approach that considers both demand and supply responses. We demonstrate that the equilibrium impact of capital gains ….e., capital gains taxes decrease supply). Depending on time periods and stock characteristics, either effect may dominate. Using …This paper examines the impact on asset prices from a reduction in the long-term capital gains tax rate using an …

The promise of contingent convertible capital securities (CoCos) as a “bail-in” solution has been the subject of …

constraining the gasoline and diesel supply chains. We consider several factors that alter the elasticity of supply, including … variation in the demand for untaxed uses of diesel. In general, we find that in periods of time when the supply chain is … supply disruptions such as after major hurricanes …

crops to estimate the effect of crop insurance on the output and prices of the insured crops.We find that the supply of and … benefit for consumers, even when it generates a large supply response …

influences the supply of amenities and local public goods. Pollution, congestion, and the quality of public education are …

We present a new framework to identify demand and supply elasticities of agricultural commodities using yield shocks … using current-period shocks that give rise to exogenous shifts in supply. Supply is identified using past shocks, which … extremely inelastic, price response is muted by a significant supply response that is obscured if futures prices are not …

counties. We also find that this supply effect is unidirectional, with no evidence to suggest that surgeons retreat when …

distributed across geographic locations, which can reproduce this stylized fact as a result of an expansion in the supply of … sustain debt. As a result, when the supply of credit increases and interest rates fall, they take on disproportionately more …