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  1. The economic impact of an online retail sales tax in the UK
    an independent report for AMAZON UK
    Erschienen: November 2020
    Verlag:  Oxford Economics Ltd, Oxford, UK

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    Sprache: Englisch
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    Schlagworte: Online-Handel; Umsatzsteuer; Steuerwirkung; Wohlfahrtsanalyse; Verteilungswirkung; Umwelt; Großbritannien
    Umfang: 1 Online-Ressource (circa 46 Seiten), Illustrationen
  2. Generalized separability and integrability
    consumer demand with a price aggregator
    Autor*in: Fally, Thibault
    Erschienen: 24 April 2022
    Verlag:  Centre for Economic Policy Research, London

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    Schriftenreihe: Array ; DP17249
    Schlagworte: Nachfragesystem; Konsumentenverhalten; Nutzenfunktion; Wohlfahrtsanalyse; Heteroskedastizität; Analysis; Consumer demand; Separability; Price aggregator; integrability; Rationalization; nonhomotheticpreferences
    Umfang: 1 Online-Ressource (circa 96 Seiten)
  3. L' essor du numérique est favorable à la croissance et à la réduction de l'empreinte carbone de la France
    Erschienen: janvier 2022
    Verlag:  Rexecode, Paris

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    Schriftenreihe: Document de travail / Rexecode ; no 81
    Schlagworte: Electronic Commerce; Umweltbelastung; Immissionsschutz; Wohlfahrtsanalyse; Frankreich
    Umfang: 1 Online-Ressource (circa 53 Seiten), Illustrationen
  4. Household self-insurance and the value of disability insurance in the United States
    Erschienen: [2022]
    Verlag:  Institute for Fiscal Studies, [London]

    This paper uses a life cycle model to study the welfare implications of reforms to U.S. Disability Insurance (DI) while accounting for household self-insurance. In addition to crowding out the insurance value of DI, household self-insurance may drive... mehr

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    This paper uses a life cycle model to study the welfare implications of reforms to U.S. Disability Insurance (DI) while accounting for household self-insurance. In addition to crowding out the insurance value of DI, household self-insurance may drive negative selection into DI by reducing implicit application costs. Allowing for such interactions, I find that expansionary DI reforms do not necessarily improve welfare. However, an asset test reduces negative selection and improves the welfare effects of DI expansions. Household self-insurance crowds out the value of DI expansions, but abstracting away from insurance value can deliver erroneous policy recommendations.

     

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    Weitere Identifier:
    hdl: 10419/254261
    Auflage/Ausgabe: Draft: February 17, 2022
    Schriftenreihe: Working paper / lnstitute for Fiscal Studies ; 22, 11
    Schlagworte: Erwerbsminderungsrente; Reform; Erwerbsunfähigkeit; Privatversicherung; Wohlfahrtsanalyse; USA
    Umfang: 1 Online-Ressource (circa 77 Seiten), Illustrationen
  5. Can today's and tomorrow's world uniformly gain from carbon taxation?
    Erschienen: October 2021
    Verlag:  Université de Lausanne, Faculté des hautes études commerciales (HEC), Département d'économie, Lausanne

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    Schriftenreihe: Cahier de recherches économiques du Département d'Econométrie et d'Economie ; 21, 15
    Schlagworte: Emissionshandel; Ökosteuer; Overlapping Generations; Wohlfahrtsanalyse; Umweltökonomik
    Umfang: 1 Online-Ressource (circa 42 Seiten), Illustrationen
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    Auch erschienen als NBER Working Paper No. 29224

  6. The Value of Arbitrage
    Erschienen: 2022
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    This paper studies the social value of closing price differentials in financial markets. We show that arbitrage gaps (price differentials between markets) exactly correspond to the marginal social value of executing an arbitrage trade. We further... mehr

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    This paper studies the social value of closing price differentials in financial markets. We show that arbitrage gaps (price differentials between markets) exactly correspond to the marginal social value of executing an arbitrage trade. We further show that arbitrage gaps and measures of price impact are sufficient to compute the total social value from closing an arbitrage gap. Theoretically, we show that, for a given arbitrage gap, the total social value of arbitrage is higher in more liquid markets. We apply our framework to compute the welfare gains from closing arbitrage gaps in the context of covered interest parity violations and several dual-listed companies. The estimates of the value of closing arbitrage gaps vary substantially across applications

     

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    Schriftenreihe: NBER working paper series ; no. w29744
    Schlagworte: Arbitrage Pricing; Arbitrage; Allokationseffizienz; Kosten-Nutzen-Analyse; Wohlfahrtsanalyse
    Umfang: 1 Online-Ressource, illustrations (black and white)
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  7. Unequal Expenditure Switching
    Evidence from Switzerland
    Erschienen: 2022
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    What are the unequal effects of changes in consumer prices on the cost of living? In the context of changes in import prices, most analyses focus on variation across households in initial expenditure shares on imported goods. However, the unequal... mehr

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    What are the unequal effects of changes in consumer prices on the cost of living? In the context of changes in import prices, most analyses focus on variation across households in initial expenditure shares on imported goods. However, the unequal welfare effects of non-marginal foreign price changes also depend on differences in how consumers substitute between imported and domestic goods, on which there is scant evidence. Using data from Switzerland surrounding the 2015 appreciation of the Swiss franc, we provide evidence that lower income households have higher price elasticities. These differences in elasticities contribute significantly to the unequal welfare effects of large import price changes

     

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    Schriftenreihe: NBER working paper series ; no. w29757
    Schlagworte: Preisniveau; Import; Verbraucherpreisindex; Wohlfahrtsanalyse; Preiselastizität; Schweiz
    Umfang: 1 Online-Ressource, illustrations (black and white)
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  8. The value of arbitrage
    Erschienen: 07 February 2022
    Verlag:  Centre for Economic Policy Research, London

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    Schriftenreihe: Array ; DP17016
    Schlagworte: Arbitrage; Allokationseffizienz; Kosten-Nutzen-Analyse; Wohlfahrtsanalyse; Zinsparität; arbitrage; Welfare; price impact; Covered Interest Parity; dual-listed stocks
    Umfang: 1 Online-Ressource (circa 83 Seiten), Illustrationen
  9. Equilibrium effects of pharmaceutical bundling
    evidence from India
    Erschienen: [2022]
    Verlag:  SIEPR Stanford Institute for Economic Policy Research, Stanford, CA

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    Schriftenreihe: Working paper / SIEPR Stanford Institute for Economic Policy Research ; no. 22, 03 (January, 2022)
    Schlagworte: Leistungsbündel; Pharmaindustrie; Arzneimittel; Alterskrankheit; Preismanagement; Wohlfahrtsanalyse; Indien
    Umfang: 1 Online-Ressource (circa 81 Seiten), Illustrationen
  10. EU energy system transformation
    cost of non-Europe : study
    Erschienen: October 2021
    Verlag:  European Union, Brussels

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    Sprache: Englisch
    Medientyp: Ebook
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    ISBN: 9789284686124
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    Schlagworte: Energiewende; Energiewirtschaft; EU-Energiepolitik; Wohlfahrtsanalyse; EU-Staaten
    Umfang: 1 Online-Ressource (circa 180 Seiten), Illustrationen
  11. Benefit salience and labour supply
    Autor*in: Spittal, Peter
    Erschienen: 5 April 2022
    Verlag:  School of Economics, University of Bristol, Bristol, United Kingdom

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    Schriftenreihe: Discussion paper / [School of Economics, University of Bristol] ; 764 (22)
    Schlagworte: Öffentliche Sozialleistungen; Familienleistungsausgleich; Steuervergünstigung; Arbeitsangebot; Einkommenseffekt; Wohlfahrtsanalyse; Großbritannien
    Umfang: 1 Online-Ressource (circa 50 Seiten), Illustrationen
  12. The Case for Using the MVPF in Empirical Welfare Analysis
    Erschienen: May 2022
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    This paper outlines the case for using the Marginal Value of Public Funds (MVPF) in empirical welfare analysis. It compares the MVPF approach with more traditional welfare metrics such as the Cost-Benefit Ratio and the Net Social Benefits criterion.... mehr

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    This paper outlines the case for using the Marginal Value of Public Funds (MVPF) in empirical welfare analysis. It compares the MVPF approach with more traditional welfare metrics such as the Cost-Benefit Ratio and the Net Social Benefits criterion. It outlines the advantages of the MVPF approach relative to these metrics. In building the case for the MVPF, this paper also addresses several misconceptions about the MVPF that appear in recent literature

     

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    Schriftenreihe: NBER working paper series ; no. w30029
    Schlagworte: Wohlfahrtsanalyse; Wohlfahrtsökonomik; Marginal Value of Public Funds; Künstliche Intelligenz; Prinzipal-Agent-Theorie; Marginal Value of Public Funds; General
    Umfang: 1 Online-Ressource, illustrations (black and white)
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  13. The Welfare Implications of Carbon Price Certainty
    Erschienen: May 2022
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    Experiences in real-world pollution markets suggest that firms make persistent errors in forecasting allowance and credit prices that inform their investment decisions. The residual uncertainty characterizing allowance and credit trading means that... mehr

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    Experiences in real-world pollution markets suggest that firms make persistent errors in forecasting allowance and credit prices that inform their investment decisions. The residual uncertainty characterizing allowance and credit trading means that pollution markets may fail to deliver cost-effective abatement. This contrasts with price-based policies under which firms make investments that equate marginal abatement cost to an emission tax. We incorporate the additional cost of forecast errors under quantity-based programs into a standard Weitzman-style prices versus quantities framework. We distinguish between individual firms' uncertainty over competitors' private information and systemic uncertainty over future cost shocks. We show that a welfare-maximizing regulator would favor price instruments in response to the prospect of firm-specific forecast errors under quantity instruments, ceteris paribus, and the relative benefit of price instruments increases with forecast error variance. We discuss the role of policy design, such as incorporating price collars, in mitigating cost-inefficiencies from price forecast errors

     

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    Schriftenreihe: NBER working paper series ; no. w30043
    Schlagworte: Ökosteuer; Emissionshandel; Wohlfahrtsanalyse; Pollution Control Adoption and Costs; Distributional Effects; Employment Effects; Climate; Natural Disasters and Their Management; Global Warming; Government Policy
    Umfang: 1 Online-Ressource, illustrations (black and white)
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  14. The Value of a Cure
    An Asset Pricing Perspective
    Erschienen: [2021]
    Verlag:  SSRN, [S.l.]

    We estimate the value of ending a pandemic using the joint behavior of stock prices and a vaccine progress indicator during 2020. In a general equilibrium model, the observed market response to vaccine progress serves to identify the expected rate of... mehr

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    We estimate the value of ending a pandemic using the joint behavior of stock prices and a vaccine progress indicator during 2020. In a general equilibrium model, the observed market response to vaccine progress serves to identify the expected rate of loss of wealth during the pandemic, which pins down the economy-wide welfare gain attributable to a cure. With standard preference parameters, ending the pandemic is worth 5-15% of total wealth. This value rises with greater exposure externality in labor choice. With uncertainty about pandemic frequency and duration, resolving the uncertainty can be as valuable as the cure itself

     

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    Schriftenreihe: NYU Stern School of Business
    Schlagworte: Coronavirus; Impfung; Infektionsschutz; CAPM; Strukturbruch; Wohlfahrtsanalyse
    Umfang: 1 Online-Ressource (61 p)
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    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 19, 2021 erstellt

  15. GDP is a measure of output, not welfare
    or, HOS meets the SNA
    Erschienen: [2019]
    Verlag:  CFM, Centre for Macroeconomics, London

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    Schriftenreihe: CFM discussion paper series ; CFM-DP 2019, 06 (March 2019)
    Schlagworte: Bruttoinlandsprodukt; Terms of Trade; Faktorproportionentheorem; Volkswirtschaftliche Gesamtrechnung; Kleine offene Volkswirtschaft; Wohlfahrtsanalyse
    Umfang: 1 Online-Ressource (circa 27 Seiten), Illustrationen
  16. Measuring Climate Change Impacts on Agriculture
    An Equilibrium Perspective on Supply-Side Approaches
    Erschienen: July 2022
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    A popular approach for estimating climate change impacts on agriculture is to rely on supply-side reduced-form regressions. These methods, which include the Ricardian approach, focus on how farmers and agricultural land market react to changes in... mehr

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    A popular approach for estimating climate change impacts on agriculture is to rely on supply-side reduced-form regressions. These methods, which include the Ricardian approach, focus on how farmers and agricultural land market react to changes in climatic conditions, under the implicit assumption that crop prices stay constant. To test whether this assumption is innocuous, I use a quantitative trade model of global agricultural markets to emulate the findings of a supply-side approach as well as to calculate welfare changes accounting for price changes. The results show that both welfare measures are weakly correlated and can be of opposite signs, and that the supply-side approach tends to underestimate the cost of climate change. The main drivers of these differences are the neglects of the imperfect substitutability of crops in demand and of terms-of-trade changes. The supply-side approach provides a valid approximation of the welfare cost of climate change only if crops are almost perfectly substitutable in demand and trade costs are neglected, a situation in which it is reasonable to assume constant prices

     

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    Schriftenreihe: NBER working paper series ; no. w30279
    Schlagworte: Klimawandel; Landnutzung; Landwirtschaft; Wirkungsanalyse; Wohlfahrtsanalyse; Angebotsorientierte Wirtschaftspolitik; Computable and Other Applied General Equilibrium Models; Trade and Environment; Agriculture in International Trade; Climate; Natural Disasters and Their Management; Global Warming; Land Use Patterns
    Umfang: 1 Online-Ressource, illustrations (black and white)
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  17. Adverse Selection as a Policy Instrument
    Unraveling Climate Change
    Erschienen: July 2022
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    This paper applies principles of adverse selection to overcome obstacles that prevent the implementation of Pigouvian policies to internalize externalities. Focusing on negative externalities from production (such as pollution), we consider settings... mehr

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    This paper applies principles of adverse selection to overcome obstacles that prevent the implementation of Pigouvian policies to internalize externalities. Focusing on negative externalities from production (such as pollution), we consider settings in which aggregate emissions are known, but individual contributions are unobserved by the government. We evaluate a policy that gives firms the option to pay a tax on their voluntarily and verifiably disclosed emissions, or pay an output tax based on the average rate of emissions among the undisclosed firms. The certification of relatively clean firms raises the output-based tax, setting off a process of unraveling in favor of disclosure. We derive sufficient statistics formulas to calculate the welfare of such a program relative to mandatory output or emissions taxes. We find that the voluntary certification mechanism would deliver significant gains over output-based taxation in two empirical applications: methane emissions from oil and gas fields, and carbon emissions from imported steel

     

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    Schriftenreihe: NBER working paper series ; no. w30283
    Schlagworte: Umweltbelastung; Umweltabgabe; Ökosteuer; Pigou-Steuer; Umweltpolitik; Adverse Selektion; Internalisierung externer Effekte; Wohlfahrtsanalyse; Asymmetric and Private Information; Mechanism Design; Taxation, Subsidies, and Revenue; International Fiscal Issues; International Public Goods; Energy, Environmental, Health, and Safety Law; Economics of Regulation; Climate; Natural Disasters and Their Management; Global Warming
    Umfang: 1 Online-Ressource, illustrations (black and white)
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  18. Measuring valuation of liquidity with penalized withdrawals
    Erschienen: 25 July 2022
    Verlag:  Centre for Economic Policy Research, London

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    Schriftenreihe: Array ; DP17499
    Schlagworte: Liquiditätspräferenz; Messung; Wohlfahrtsanalyse; Private Altersvorsorge; Sparen; Offenbarte Präferenzen; Haushaltseinkommen; Sozialstruktur; USA
    Umfang: 1 Online-Ressource (circa 67 Seiten)
  19. Expanding Capacity for Vaccines Against Covid-19 and Future Pandemics
    A Review of Economic Issues
    Erschienen: July 2022
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    We review economic arguments for using public policy to accelerate vaccine supply during a pandemic. Rapidly vaccinating a large share of the global population helps avoid economic, mortality, and social losses, which in the case of Covid-19 mounted... mehr

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    We review economic arguments for using public policy to accelerate vaccine supply during a pandemic. Rapidly vaccinating a large share of the global population helps avoid economic, mortality, and social losses, which in the case of Covid-19 mounted into trillions of dollars. However, pharmaceutical firms are unlikely to have private incentives to invest in vaccine capacity at the socially optimal scale and speed. The socially optimal level of public spending may cause some sticker shock but--as epitomized by the tagline "spending billions to save trillions"--is eclipsed by the benefits and can be restrained with the help of careful policy design and advance preparations. Capacity is so valuable during a pandemic that fractional dosing and other measures to stretch available capacity should be explored

     

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    Schriftenreihe: NBER working paper series ; no. w30192
    Schlagworte: Infektionskrankheit; Coronavirus; Epidemie; Impfung; Infektionsschutz; Pharmaindustrie; Wirkungsanalyse; Wohlfahrtsanalyse; Market Design; Publicly Provided Goods: Mixed Markets; Health and Economic Development; Government Policy; Regulation; Public Health; Innovation and Invention: Processes and Incentives
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  20. Is GDP Becoming Obsolete? The "Beyond GDP" Debate
    Erschienen: July 2022
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    GDP is a closely watched indicator of the current health of the economy and an important tool of economic policy. It has been called one of the great inventions of the 20th Century. It is not, however, a persuasive indicator of individual wellbeing... mehr

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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    GDP is a closely watched indicator of the current health of the economy and an important tool of economic policy. It has been called one of the great inventions of the 20th Century. It is not, however, a persuasive indicator of individual wellbeing or economic progress. There have been calls to refocus or replace GDP with a metric that better reflects the welfare dimension. In response, the U.S. agency responsible for the GDP accounts recently launched a "GDP and Beyond" program. This is by no means an easy undertaking, given the subjective and idiosyncratic nature of much of individual wellbeing. This paper joins the Beyond GDP effort by extending the standard utility maximization model of economic theory, using an expenditure function approach to include those non-GDP sources of wellbeing for which a monetary value can be established. We term our new measure expanded GDP (EGDP). A welfare-adjusted stock of wealth is also derived using the same general approach used to obtain EGDP. This stock is useful for issues involving the sustainability of wellbeing over time. One of the implications of this dichotomy is that conventional cost-based wealth may increase over a period of time while welfare-corrected wealth may show a decrease (due, for example, to strongly negative environmental externalities)

     

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    Schriftenreihe: NBER working paper series ; no. w30196
    Schlagworte: Bruttoinlandsprodukt; Volkswirtschaftliche Gesamtrechnung; Wirtschaftsindikator; Entwicklungsindikator; Index; Methodenkritik; Methodologie; Wohlfahrtsanalyse; USA; Index Numbers and Aggregation; Model Construction and Estimation; Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access; Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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  21. Dependent Coverage and Parental "Job Lock"
    Evidence from the Affordable Care Act
    Erschienen: July 2022
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    In 2010, the Affordable Care Act (ACA) mandated that private insurance plans extend coverage to adult dependents under the age of 26. We hypothesize that this policy may have had the unintended consequence of increasing "job lock" among parents who... mehr

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    In 2010, the Affordable Care Act (ACA) mandated that private insurance plans extend coverage to adult dependents under the age of 26. We hypothesize that this policy may have had the unintended consequence of increasing "job lock" among parents who would otherwise leave their employer. We use a large panel of insurance claims that links members covered by the same plan and follows individuals over time. To identify the effects of additional dependent coverage provided under the ACA, we estimate a regression discontinuity design in dependent birth date that exploits the fact that, on average, adult dependents born in January became eligible for more months of coverage than those born in December. We first show that, compared to their December-born counterparts, dependents with January births were more likely to enroll in their parent's plan and enrolled for a longer period of time. Correspondingly, we find that their parent is more likely to remain with their pre-ACA employer and remain with that employer for longer. Effects are larger for parents approaching early retirement and dependents who are only children. Our findings provide new insight into the welfare effects of mandated insurance coverage and the importance of intra-family spillovers

     

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    Schriftenreihe: NBER working paper series ; no. w30200
    Schlagworte: Gesetzliche Krankenversicherung; Gesundheitsreform; Versicherungsschutz; Wirkungsanalyse; Wohlfahrtsanalyse; USA; General; Health Insurance, Public and Private; Government Policy
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  22. Waivers for the Public Service Loan Forgiveness Program
    Who Would Benefit from Takeup?
    Erschienen: July 2022
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    For workers employed in the public and non-profit sectors, the Public Service Loan Forgiveness (PSLF) program offers the potential for full forgiveness of federal student loans for those with 10-years of full-time work experience. In practice, the... mehr

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    For workers employed in the public and non-profit sectors, the Public Service Loan Forgiveness (PSLF) program offers the potential for full forgiveness of federal student loans for those with 10-years of full-time work experience. In practice, the benefits of the PSLF program have been illusory for many. In the first year of eligibility for forgiveness (2017), only 96 borrowers claimed benefits and even by the end of April of 2022 only 130,730 had received benefits. Administrative problems related to the certification of public service employment and the determination of qualifying loans led the Department of Education to issue temporary waivers (which expire in October of 2022) which essentially provide a path to forgiveness retroactively. In this paper, we explore the overall impact and distributional implications of potential full participation in loan forgiveness enabled by the PSLF waiver program using the 2018 Survey of Income and Program Participation (SIPP). Our estimates identify more than $100 billion in loan forgiveness available to as many as 3.5 million borrowers through the PSLF waiver program. Potential beneficiaries of this initiative are disproportionately employed in occupations like teaching and health care. Full take-up of the PSLF waiver would lead to a narrowing of the racial gap in student debt burden. However, the distribution of potential benefits of the PSLF waiver depends critically on the extent to which those with high income or advanced degrees are differentially likely to take-up benefits conditional on eligibility

     

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    Schriftenreihe: NBER working paper series ; no. w30208
    Schlagworte: Studienfinanzierung; Private Verschuldung; Öffentlicher Dienst; Nonprofit-Organisation; Wirkungsanalyse; Wohlfahrtsanalyse; USA; Public Service Loan Forgiveness Program; Analysis of Education; Educational Finance; Financial Aid; Higher Education; Research Institutions; Government Policy
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  23. Data and Welfare in Credit Markets
    Erschienen: July 2022
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    We show how to measure the welfare effects arising from increased data availability. When lenders have more data on prospective borrower costs, they can charge prices that are more aligned with these costs. This increases total social welfare, and... mehr

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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    We show how to measure the welfare effects arising from increased data availability. When lenders have more data on prospective borrower costs, they can charge prices that are more aligned with these costs. This increases total social welfare, and transfers surplus from borrowers to lenders. We show that the magnitudes of the welfare changes can be estimated using only quantity data and variation in prices. We apply the methodology on bankruptcy flag removals, and find that removing prior bankruptcy information increases the surplus of previously bankrupt consumers substantially, at the cost of decreasing total social welfare modestly, suggesting that flag removals have low efficiency costs for redistributing surplus to previously bankrupt borrowers

     

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    Schriftenreihe: NBER working paper series ; no. w30235
    Schlagworte: Wirtschaftsdaten; Kreditrisiko; Kreditwürdigkeit; Kreditmarkt; Finanzmarkt; Wohlfahrtsanalyse; Wohlfahrtsökonomik; Welfare Economics; General; Banks; Depository Institutions; Micro Finance Institutions; Mortgages; Government Policy and Regulation; Household Finance; Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
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  24. Racial Inequality in the U.S. Unemployment Insurance System
    Erschienen: July 2022
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    The U.S. unemployment insurance (UI) system operates as a federal-state partnership, where states have considerable autonomy to decide on specific UI rules. This has allowed for systematically stricter rules in states with a larger Black population.... mehr

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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    The U.S. unemployment insurance (UI) system operates as a federal-state partnership, where states have considerable autonomy to decide on specific UI rules. This has allowed for systematically stricter rules in states with a larger Black population. We study how these differences in state rules create a gap in the unemployment insurance that Black and White unemployed workers receive. Using administrative data from random audits on UI claims in all states, we first document a large racial gap in the UI that unemployed workers receive after filing a new claim. Black claimants receive an 18% lower replacement rate (i.e., benefits relative to prior wage, including denials) than White claimants. In principle, the replacement rate of each claimant mechanically depends on the rules prevailing in her state and on her work history (e.g., the earnings before job loss and the reason for separation from prior employer). Since we observe claimants' UI-relevant work history and state, we are in a unique position to identify the role of each factor. After accounting for Black-White differences in work history, differences in rules across states create an 8% Black-White gap in replacement rate (i.e., slightly less than half of the overall gap). Using a standard welfare calculation, we show that states with the largest shares of Black workers would gain the most from having more generous UI rules. Altogether, our results highlight that disparate state rules in the UI institution create racial inequality without maximizing overall welfare

     

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    Schriftenreihe: NBER working paper series ; no. w30252
    Schlagworte: Arbeitslosenversicherung; Ethnische Diskriminierung; Schwarze Menschen; Wohlfahrtsanalyse; USA; Unemployment Insurance; Severance Pay; Plant Closings; Labor Discrimination
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  25. Aftermarket Frictions and the Cost of Off-Platform Options in Centralized Assignment Mechanisms
    Erschienen: July 2022
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    We study the welfare and human-capital impacts of the configuration of on- and off-platform options in the context of Chile's centralized higher education platform, leveraging administrative data and two policy changes: an expansion of the number of... mehr

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    We study the welfare and human-capital impacts of the configuration of on- and off-platform options in the context of Chile's centralized higher education platform, leveraging administrative data and two policy changes: an expansion of the number of on-platform slots by approximately 40% and the introduction of a large scholarship program. We first show that more programs' joining the platform led students to start college sooner and raised the share of students who graduated on time. We then develop a model of college applications, offers, waitlists, and matriculation choices, which we estimate using students' ranked-ordered applications, on- and off-platform enrollment, and on-time graduation outcomes. When more programs join the platform, welfare increases, and the extent of aftermarket frictions matters less for welfare, enrollment, and graduation rates. High-SES students have greater access to off-platform options, and gains from platform expansion are larger for students from lower-SES backgrounds. Our results indicate that expanding the scope of a higher education platform can have real impacts on welfare and human capital

     

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    Schriftenreihe: NBER working paper series ; no. w30257
    Schlagworte: Studierende; Studium; Absolventen; Humankapital; Studienfinanzierung; Wohlfahrtsanalyse; Chile; General; General
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