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Overreaction to Capital Taxation in Saving Decisions

Lu, Kelin - 2021

This paper studies the response of saving decisions to two alternative capital taxation, i.e., wealth tax and capital income tax. I conduct a "life-cycle" experiment on Amazon Mturk, where subjects make dynamic saving decisions. Subjects exhibit an overreaction to the wealth tax, not to the...

Persistent link: https://www.econbiz.de/10013220172

Stated preferences for capital taxation - tax design, misinformation and the role of partisanship

Chirvi, Malte; Schneider, Cornelius - 2019

Although theoretical research on optimal capital taxation suggest to incorporate public opinions, the empirical literature on preferences regarding capital taxation almost exclusively focusses on the emotionally loaded estate tax. This paper presents a more comprehensive investigation of...

Persistent link: https://www.econbiz.de/10012035881

Adaptive maximization of social welfare

Cesa-Bianchi, Nicolò; Colomboni, Roberto; Kasy, Maximilian - 2024

We consider the problem of repeatedly choosing policies to maximize social welfare. Welfare is a weighted sum of private utility and public revenue. Earlier outcomes inform later policies. Utility is not observed, but indirectly inferred. Response functions are learned through experimentation....

Persistent link: https://www.econbiz.de/10014637430

Competitive Blind Spots and the Cyclicality of Investment : Experimental Evidence

Rodet, Cortney Stephen - 2020

We report laboratory experiments investigating the cyclicality of profit-enhancing investment in a competitive environment. In our setting, optimal investment is counter-cyclical when investment costs fall following market downturns. However, we do not observe counter-cyclical investment....

Persistent link: https://www.econbiz.de/10012852845

Firm-Level Entry and Exit Dynamics over the Business Cycles

Tian, Can - 2017

This paper presents a set of facts on the cyclicality of firm births and deaths in the U.S. during the period 1979--2013. Asymmetry in the cyclicality between firm birth and firm death is observed: aggregate firm birth is generally significantly procyclical, while the (counter-)cyclicality in...

Persistent link: https://www.econbiz.de/10012955841

Firm Product Scope, Oligopolistic Competition, and the Business Cycle : Evidence and Theory

Guo, Diyue - 2020

I investigate changes in product scope, the number of products that a firm offers, over the business cycle and decompose the impact of such changes on aggregate output. By using the Nielsen Retail Scanner data of U.S. consumer goods purchases for 2007- 2014, I find that firm product scope is an...

Persistent link: https://www.econbiz.de/10012828434

Markups as a hedge for input price uncertainty: evidence from Sweden

Agrawal, Sneha; Gaurav, Abhishek; Suveg, Melinda - 2021

prices set higher markups. We use the Bartik shift-share approach to empirically test whether firms which use more oil … relative to other inputs set higher markups when oil prices are more volatile. Our estimates imply that a one standard … deviation increase in oil price volatility leads to a 0.38 percent increase in the markup of firms with average oil exposure. …

Persistent link: https://www.econbiz.de/10012695355

Entry, Exit and Plant-Level Dynamics over the Business Cycle

Lee, Yoonsoo - 2009

This paper analyzes the implications of plant-level dynamics over the business cycle. We first document basic patterns of entry and exit of U.S. manufacturing plants, in terms of employment and productivity, between 1972 and 1997. We show how entry and exit patterns vary during the business...

Persistent link: https://www.econbiz.de/10012720467

Heterogeneity in Manufacturing Growth Risk

Opschoor, Daan; van Dijk, Dick J. C.; Franses, Philip Hans - 2021

We analyze output growth risk with respect to financial conditions across U.S. manufacturing industries. Using a multi-level quantile regression approach, we find strong heterogeneity in growth risk, particularly between the more vulnerable durable goods sector and the more resilient nondurable...

Persistent link: https://www.econbiz.de/10013229404

Fiscal policy, sovereign default, and bailouts

Jüßen, Falko; Schabert, Andreas - 2013

This paper examines fiscal policy without commitment and the effects of conditional bailout loans. The government relies on distortionary taxation and decides between full debt repayment and costly default. It tends to overborrow due to myopia, which induces default to be a relevant policy...

Persistent link: https://www.econbiz.de/10010225902

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