The Dutch government modified twice the taxation of intergenerational transfers aimed at mortgage down-payments and prepayments. We identify the causal effects of the tax exemption on prepayments and inter vivos transfers separately by exploiting changes in the policy design. Subsequent policy...

This paper develops a heterogeneous agents model to analyze the effects of Social Security survivors insurance. The model features a negative mortality-income gradient, asymmetric information of individual mortality rates, and a warm-glow bequest motive that varies by age and family structure....

The decision to disclose information concerning a firm's environmental liabilities is modeled as a sequential game involving the firm, a capital market and outside stakeholders who can impose proprietary (political) costs on the firm. A partial disclosure equilibrium is derived in which firms...