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Displaying results 1 to 16 of 16.

  1. Revealed preference analysis with framing effects
    Published: October 2018
    Publisher:  National Bureau of Economic Research, Cambridge, MA

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    Language: English
    Media type: Book
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    Series: Working paper series / National Bureau of Economic Research ; 25139
    Subjects: Offenbarte Präferenzen; Prospect Theory; Wohlfahrtsökonomik
    Scope: 39 Seiten, Illustrationen
    Notes:

    Erscheint auch als Online-Ausgabe

  2. Taxing hidden wealth
    the consequences of U.S. enforcement initiatives on evasive foreign accounts
    Published: March 2018
    Publisher:  National Bureau of Economic Research, Cambridge, MA

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    W 1 (24366)
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    Series: Working paper series / National Bureau of Economic Research ; 24366
    Subjects: Vermögensteuer; Steuervermeidung; Steueroase; Steuerfahndung; USA
    Scope: 55, 7 Seiten, Illustrationen
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    Erscheint auch als Online-Ausgabe

  3. Revealed preference analysis with framing effects
    Published: 09 October 2018
    Publisher:  Centre for Economic Policy Research, London

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    W 32 (13232)
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    Series: Discussion paper series / Centre for Economic Policy Research ; DP13232
    Subjects: Offenbarte Präferenzen; Prospect Theory; Wohlfahrtsökonomik
    Scope: 35 Seiten, Illustrationen
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    Erscheint auch als Online-Ausgabe

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  4. The Welfare Economics of Reference Dependence
    Published: June 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Empirical evidence suggests that individuals often evaluate options relative to a reference point, especially seeking to avoid losses. We undertake the first welfare analysis under reference-dependent preferences. We characterize the welfare impact... more

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    Empirical evidence suggests that individuals often evaluate options relative to a reference point, especially seeking to avoid losses. We undertake the first welfare analysis under reference-dependent preferences. We characterize the welfare impact of changes in reference points and prices, decomposing these into direct and behavioral effects. The sign of direct and behavioral effects depends on the form of reference-dependent payoffs; which of these effects matter for welfare depends on whether reference dependence reflects a bias or a normative preference. We derive sufficient statistics formulas quantifying the social welfare effects of changes in reference points and prices in terms of estimable reduced-form parameters and normative judgments. We illustrate these findings with an empirical application to reference dependence exhibited in German workers' retirement decisions. We find positive social welfare effects of increasing the Normal Retirement Age, but ambiguous effects of financial incentives to postpone retirement

     

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w31381
    Subjects: Konsumentenpräferenzen; Altersgrenze; Gesetzliche Rentenversicherung; Präferenztheorie; Wohlfahrtsökonomik; Deutschland; General; General; Social Security and Public Pensions
    Scope: 1 Online-Ressource, illustrations (black and white)
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    Hardcopy version available to institutional subscribers

  5. The Offshore World According to FATCA
    New Evidence on the Foreign Wealth of U.S. Households
    Published: March 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    This paper uses account-level information, reported to the IRS by foreign financial institutions under the Foreign Account Tax Compliance Act (FATCA), to produce new evidence on the foreign financial wealth of U.S. households. We find that U.S.... more

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    Universitätsbibliothek Freiburg
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    This paper uses account-level information, reported to the IRS by foreign financial institutions under the Foreign Account Tax Compliance Act (FATCA), to produce new evidence on the foreign financial wealth of U.S. households. We find that U.S. taxpayers hold around $4 trillion in foreign accounts, almost half in jurisdictions usually considered tax havens. Combining the FATCA reports with other administrative tax data and tracing account ownership through partnerships, we document a steep income gradient in the propensity to hold assets in foreign financial institutions. Specifically, more than 60% of the individuals in the top 0.01% of the income distribution own foreign accounts, the vast majority in tax havens and more than half through a partnership. We discuss the likely implications of these findings for the overall impact of FATCA on tax compliance and government revenue

     

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w31055
    Subjects: Privater Haushalt; Vermögen; Internationaler Finanzmarkt; Steuervermeidung; USA; Personal Income and Other Nonbusiness Taxes and Subsidies; Tax Evasion and Avoidance
    Scope: 1 Online-Ressource, illustrations (black and white)
    Notes:

    Hardcopy version available to institutional subscribers

  6. Taxpayer search for information
    implications for rational attention

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    W 1 (19482)
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    Source: Union catalogues
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    Series: NBER working paper series ; 19482
    Subjects: Steuerplanung; Informationsverhalten; Wertzuwachssteuer; USA
    Scope: 40, [6] S., graph. Darst.
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    Parallel als Online-Ausg. erschienen

  7. Who sold during the crash of 2008-9?
    evidence from tax-return data on daily sales of stock
    Published: April 2016
    Publisher:  National Bureau of Economic Research, Cambridge, MA

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    W 1 (22209)
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    Source: Union catalogues
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    Series: Working paper series / National Bureau of Economic Research ; 22209
    Subjects: Finanzkrise; Aktienmarkt; Wertpapierhandel; Anlageverhalten; Soziale Schicht; Steuerstatistik; Schätzung; USA
    Scope: 85 Seiten, Illustrationen
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    Erscheint auch als Online-Ausgabe

  8. Public disclosure of tax information
    compliance tool or social network?
    Published: March 2022
    Publisher:  Statistics Norway, Research Department, Oslo

    We conduct the first-ever study of actual searches done in a public tax disclosure system, analyzing about one million searches done in 2014 and 2015 in Norway. We characterize the social network these searches comprise, including its degree of... more

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    We conduct the first-ever study of actual searches done in a public tax disclosure system, analyzing about one million searches done in 2014 and 2015 in Norway. We characterize the social network these searches comprise, including its degree of homophily and reciprocation, and the demographics of targets and searchers. About one-fourth of searches occur within identifiable household and employment networks. Most searchers target people similar to themselves-homophily in network parlance-but young, low-income searchers also target older, successful people and celebrities. A causal research design based on the timing of searches relative to tax filing uncovers no evidence that, upon discovering they were targeted, targets subsequently increase their reported income. The evidence suggests that social comparisons motivate the bulk of searches rather than tax compliance. However, public disclosure may deter evasion even when compliance-motivated searches are rare in equilibrium.

     

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/268051
    Series: Discussion papers / Statistics Norway, Research Department ; 975
    Subjects: Public disclosure; social network; tax compliance
    Scope: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  9. The welfare economics of reference dependence
    Published: October 2022
    Publisher:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    Empirical evidence suggests that individuals often evaluate options relative to a reference point, especially seeking to avoid losses. In this paper, we provide the first welfare analysis under reference-dependent preferences. We decompose the... more

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    Empirical evidence suggests that individuals often evaluate options relative to a reference point, especially seeking to avoid losses. In this paper, we provide the first welfare analysis under reference-dependent preferences. We decompose the welfare impact of changes in reference points and prices into direct and behavioral effects, and describe how these effects depend on whether reference dependence reflects a bias or a normative preference. In a simple model of loss aversion grounded in common empirical findings, we find that lowering reference points robustly improves welfare, while the welfare effect of a price change depends critically on normative judgments. We also derive sufficient statistics characterizations of the welfare effects of changing reference points and prices. We illustrate these theoretical findings with an empirical application to reference dependence exhibited in German workers' retirement decisions. Both simulation and sufficient statistics results suggest positive welfare effects of increasing the Normal Retirement Age, but ambiguous effects of financial incentives to postpone retirement. Finally, we study how adopting alternative models of reference dependent preferences modifies key welfare effects.

     

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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/267232
    Series: CESifo working paper ; no. 9999 (2022)
    Subjects: Konsumentenpräferenzen; Altersgrenze; Gesetzliche Rentenversicherung; Präferenztheorie; Wohlfahrtsökonomik; Deutschland; reference-dependent preferences; loss aversion; welfare; pension reform
    Scope: 1 Online-Ressource (circa 82 Seiten), Illustrationen
  10. Do lower minimum wages for young workers raise their employment?
    evidence from a Danish discontinuity
    Published: 24 December 2017
    Publisher:  Centre for Economic Policy Research, London

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    W 32 (12539)
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    Series: Array ; DP 12539
    Subjects: Junge Arbeitskräfte; Mindestlohn; Wirkungsanalyse; Jugendarbeitslosigkeit; Beschäftigungseffekt; Schätzung; Dänemark
    Scope: 60 Seiten, Illustrationen
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    Erscheint auch als Online-Ausgabe

  11. Do lower minimum wages for young workers raise their employment?
    evidence from a Danish discontinuity
    Published: [2018]
    Publisher:  CEBI, Department of Economics, University of Copenhagen, Copenhagen

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    VS 731
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    Other identifier:
    hdl: 10419/258900
    Series: CEBI working paper series ; 18, 05
    Subjects: Minimum wage policy; employment; regression discontinuity
    Scope: 1 Online-Ressource (circa 68 Seiten), Illustrationen
  12. Retirement consumption and pension design
    Published: 06 August 2021
    Publisher:  Centre for Economic Policy Research, London

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    Universitätsbibliothek Mannheim
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP16420
    Subjects: Rentenreform; Wirkungsanalyse; Wohlfahrtsanalyse; Schweden
    Scope: 1 Online-Ressource (circa 127 Seiten), Illustrationen
  13. Tax Evasion at the Top of the Income Distribution
    Theory and Evidence
    Published: 2021
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    This paper studies tax evasion at the top of the U.S. income distribution using IRS micro-data from (i) random audits, (ii) targeted enforcement activities, and (iii) operational audits. Drawing on this unique combination of data, we demonstrate... more

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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    This paper studies tax evasion at the top of the U.S. income distribution using IRS micro-data from (i) random audits, (ii) targeted enforcement activities, and (iii) operational audits. Drawing on this unique combination of data, we demonstrate empirically that random audits underestimate tax evasion at the top of the income distribution. Specifically, random audits do not capture most tax evasion through offshore accounts and pass-through businesses, both of which are quantitatively important at the top. We provide a theoretical explanation for this phenomenon, and we construct new estimates of the size and distribution of tax noncompliance in the United States. In our model, individuals can adopt a technology that would better conceal evasion at some fixed cost. Risk preferences and relatively high audit rates at the top drive the adoption of such sophisticated evasion technologies by high-income individuals. Consequently, random audits, which do not detect most sophisticated evasion, underestimate top tax evasion. After correcting for this bias, we find that unreported income as a fraction of true income rises from 7% in the bottom 50% to more than 20% in the top 1%, of which 6 percentage points correspond to undetected sophisticated evasion. Accounting for tax evasion increases the top 1% fiscal income share significantly

     

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    Source: Union catalogues
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    Series: NBER working paper series ; no. w28542
    Subjects: Steuervermeidung; Steuerflucht; Steuerstrafrecht; Vermögensverteilung; USA
    Scope: 1 Online-Ressource, illustrations (black and white)
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    Hardcopy version available to institutional subscribers

  14. Diminishing Marginal Utility Revisited
    Published: January 2024
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    How quickly does marginal utility fall with increasing consumption? It depends on the dimension along which we consider concavity of the utility function. This paper estimates the distribution of heterogeneous curvature parameters in individuals'... more

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    How quickly does marginal utility fall with increasing consumption? It depends on the dimension along which we consider concavity of the utility function. This paper estimates the distribution of heterogeneous curvature parameters in individuals' utility functions from hypothetical choice data, while accounting for survey response error. Types of curvature examined include relative risk aversion, intertemporal substitution, the reciprocal of the altruism elasticity, and a new measure of inequality aversion, which queries how much more a dollar means to a poor family than to a rich family Median values of curvature parameters ranging from 0.6 to 13.2. Utility functions are most concave for situations involving altruism, followed by risk aversion, inequality aversion, and intertemporal substitution. Heterogeneity of curvature in the population also varies: altruism is the most heterogeneous, followed by risk aversion, the elasticity of intertemporal substitution, and inequality aversion. Nonetheless, curvature parameters are highly correlated (ρ > .8) over different elicitations within parameter type, and modestly correlated across dimensions in some cases, including inequality aversion and risk aversion (ρ ≈ 0.3), altruism and risk aversion (ρ ≈ 0.3), and altruism and inequality aversion (ρ ≈ 0.14)

     

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    Source: Union catalogues
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    Series: NBER working paper series ; no. w32077
    Subjects: Verhalten; Privater Haushalt; Grenznutzentheorie; Microeconomic Behavior: Underlying Principles; Behavioral Microeconomics: Underlying Principles; Intertemporal Household Choice; Life Cycle Models and Saving; Other
    Scope: 1 Online-Ressource, illustrations (black and white)
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    Hardcopy version available to institutional subscribers

  15. Retirement Consumption and Pension Design
    Published: August 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    This paper analyzes consumption to evaluate the distributional effects of pension reforms. Using Swedish administrative data, we show that on average workers who retire earlier consume less while retired and experience larger drops in consumption... more

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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    This paper analyzes consumption to evaluate the distributional effects of pension reforms. Using Swedish administrative data, we show that on average workers who retire earlier consume less while retired and experience larger drops in consumption around retirement. Interpreted via a theoretical model, these findings imply that reforms incentivizing later retirement incur a substantial consumption-smoothing cost. Turning to other features of pension policy, we find that reforms that redistribute based on early-career labor supply would have opposite-signed redistributive effects, while differentiating on wealth may help to target pension benefits toward those who are vulnerable to larger drops in consumption around retirement

     

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    Source: Union catalogues
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    Series: NBER working paper series ; no. w31628
    Subjects: Rentenreform; Wirkungsanalyse; Wohlfahrtsanalyse; Schweden; Social Security and Public Pensions
    Scope: 1 Online-Ressource, illustrations (black and white)
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    Hardcopy version available to institutional subscribers

  16. The welfare economics of reference dependence
    Published: 15 September 2021
    Publisher:  Centre for Economic Policy Research, London

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    LZ 161
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    Universitätsbibliothek Mannheim
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    Source: Union catalogues
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    Format: Online
    Series: Array ; DP16560
    Subjects: Konsumentenpräferenzen; Altersgrenze; Gesetzliche Rentenversicherung; Präferenztheorie; Wohlfahrtsökonomik; Deutschland; reference dependence; behavioral welfare economics; Public Pensions
    Scope: 1 Online-Ressource (circa 81 Seiten), Illustrationen