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In this paper, we employ a unique tax experiment and dataset in a highly salient tax rate environment to examine consumer response to complex and uncertain tax reforms. Tax reforms raise some fundamental questions in public finance: How does consumption respond to tax change? How is the tax...
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the loan amount or default risk. By contrast, the mortgage rates on non-GSE loans depend almost entirely on borrowers and … risk. The results are robust to various controls for neighborhood characteristics, including regional-level bank …
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