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  1. Tax Design, Information, and Elasticities
    Evidence From the French Wealth Tax
    Author: Garbinti, Bertrand; Goupille-Lebret, Jonathan; Muñoz, Mathilde; Stantcheva, Stefanie; Zucman, Gabriel
    Published: June 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We study a French wealth tax reform that starkly reduced the information some taxpayers must report to the tax authority. Using a new dynamic bunching approach we estimate the average response to the reform, the share of compliers, and the local... more

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    We study a French wealth tax reform that starkly reduced the information some taxpayers must report to the tax authority. Using a new dynamic bunching approach we estimate the average response to the reform, the share of compliers, and the local average treatment effect. The annual wealth growth rate of treated taxpayers falls by 0.5 percentage points after the reform. This decline is likely due to increased evasion, as suggested by the sharp responses in self-reported wealth but not in third-party-reported incomes. The wealth tax base becomes more elastic post reform, illustrating the key role of information policy choices for tax base elasticities

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w31333
    Subjects: Vermögensteuer; Elastizität; Steuerreform; Steuerwirkung; Steuervermeidung; Frankreich; Tax Evasion and Avoidance; Household
    Scope: 1 Online-Ressource, illustrations (black and white)
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  2. House Prices and Rents in the 21st Century
    Author: Loewenstein, Lara; Willen, Paul
    Published: March 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We study the joint evolution of prices and rents of residential property. After constructing rent and price indices for renter- and owner-occupied properties, we decompose the change in the price of occupant-owned property into (1) changes in rent,... more

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    We study the joint evolution of prices and rents of residential property. After constructing rent and price indices for renter- and owner-occupied properties, we decompose the change in the price of occupant-owned property into (1) changes in rent, (2) changes in the relative prices of investor- and occupant-owned properties, and (3) changes in the price-rent ratio. Via a simple model, we link our decomposition to different sources of variation in house prices. We argue that while the 2000s boom was plausibly driven by exuberant expectations, the boom of the 2020s more likely resulted from a preference shock

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w31013
    Subjects: Wohnimmobilien; Immobilienmarkt; Miete; Immobilienpreis; Spekulationsblase; USA; General; Business Fluctuations; Cycles; Household; General; Housing Supply and Markets
    Scope: 1 Online-Ressource, illustrations (black and white)
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  3. Capital Gains Realizations
    Author: Hines, James R.; Schaffa, Daniel
    Published: March 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Evidence that high tax rates significantly depress capital gains realizations is inconsistent with the implications of neoclassical investment models in unchanging economic environments. Higher tax rates reduce after-tax investment returns, thereby... more

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    Evidence that high tax rates significantly depress capital gains realizations is inconsistent with the implications of neoclassical investment models in unchanging economic environments. Higher tax rates reduce after-tax investment returns, thereby encouraging investors to sell capital assets earlier. For a given investment horizon, higher tax rates need not reward accumulating unrealized gains over long periods - and even if they do, longer accumulations can lead to earlier realizations. Consequently, the sizeable observed effects of capital gains taxes likely reflect investor anticipations of future tax rate changes, rather than the time value of money

     
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    Source: Union catalogues
    Language: English
    Media type: Book
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    Series: NBER working paper series ; no. w31059
    Subjects: Wertzuwachssteuer; Anlageverhalten; Portfolio Choice; Investment Decisions; Personal Income and Other Nonbusiness Taxes and Subsidies; Household
    Scope: 1 Online-Ressource, illustrations (black and white)
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  4. Non-standard preferences in asset pricing and household finance
    Author: Goossens, Jorgo
    Published: [2023]
    Publisher:  Tilburg University, Tilburg

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    Media type: Dissertation
    Format: Online
    ISBN: 9789056687007
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    Series: [Dissertation series] / [Center for Economic Research, Tilburg University] ; [nr. 698 (2023)]
    Subjects: Household Finance; Asset Pricing; Asset Prices; Risk Preferences; Annuitization; Present Bias; Trading Behavior; Time Preference; Micro Data; Time-Varying; Financial Markets; Household
    Scope: 1 Online-Ressource (circa 265 Seiten), Illustrationen
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    Dissertation, Tilburg University, 2023
  5. Paying Moms to Stay Home
    Short and Long Run Effects on Parents and Children
    Author: Gruber, Jonathan; Kosonen, Tuomas; Huttunen, Kristiina
    Published: February 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We study the impacts of a policy designed to reward mothers who stay at home rather than join the labor force when their children are under age three. We use regional and over time variation to show that the Finnish Home Care Allowance (HCA)... more

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    We study the impacts of a policy designed to reward mothers who stay at home rather than join the labor force when their children are under age three. We use regional and over time variation to show that the Finnish Home Care Allowance (HCA) decreases maternal employment in both the short and long term. The effects are large enough for the existence of home care benefit system to explain the higher short-term child penalty in Finland than comparable nations. Home care benefits also negatively affect the early childhood cognitive test results of children, decrease the likelihood of choosing academic high school, and increase youth crimes. We confirm that the mechanism of action is changing work/home care arrangements by studying a day care fee reform that had the opposite effect of raising incentives to work - with corresponding opposite effects on mothers and children compared to HCA. Our findings suggest that shifting child care from the home to the market increases labor force participation and improves child outcomes

     
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    Source: Union catalogues
    Language: English
    Media type: Book
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    Series: NBER working paper series ; no. w30931
    Subjects: Kinderbetreuung; Hausarbeit; Familienleistungsausgleich; Wirkungsanalyse; Weibliche Arbeitskräfte; Soziale Lage; Mütter; Kinder; Finnland; Household; Fertility; Family Planning; Child Care; Children; Youth
    Scope: 1 Online-Ressource, illustrations (black and white)
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  6. Unconditional Cash Transfers for Families with Children in the U.S
    A Scoping Review
    Author: Shah, Hema; Gennetian, Lisa A.
    Published: February 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Children represent the largest indirect beneficiaries of the U.S. social welfare system. Yet, many questions remain about the direct benefits of cash aid to children. The current understanding of the impacts of cash aid in the U.S. is drawn primarily... more

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    Children represent the largest indirect beneficiaries of the U.S. social welfare system. Yet, many questions remain about the direct benefits of cash aid to children. The current understanding of the impacts of cash aid in the U.S. is drawn primarily from studies of in-kind benefits, tax credits, and conditional cash aid programs. A corresponding economics literature focuses on the labor supply responses of parents and the role of income, parenting skills, and early education as family investment mechanisms that reduce socioeconomic inequality in children's well-being. In contrast to the U.S., dozens of low- to middle-income nations use direct cash aid--conditional or unconditional--as a central policy strategy, with demonstrated positive effects across a host of economic and health measures and selected aspects of children's health and schooling. This paper reviews the economic research on U.S. safety net programs and cash aid to families with children and what existing studies reveal about its impacts on family investment mechanisms and children's outcomes. We specifically highlight gaps in understanding the impacts of unconditional cash aid on children. We then review nine contemporary unconditional cash transfer programs and discuss their promise and limitations in filling the U.S.-based economic evidence gap about the impact of cash aid on children's development

     
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    Source: Union catalogues
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    Media type: Book
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    Series: NBER working paper series ; no. w30965
    Subjects: Familienleistungsausgleich; Wirkungsanalyse; Soziale Lage; Kinder; USA; Household; Government Expenditures and Welfare Programs; State and Local Government: Health; Education; Welfare; Public Pensions; Welfare, Well-Being, and Poverty; Government Policy; Provision and Effects of Welfare Programs; Fertility; Family Planning; Child Care; Children; Youth; Public Policy
    Scope: 1 Online-Ressource, illustrations (black and white)
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  7. Compensation to Israeli holocaust survivors and the human capital of their children
    Author: Tsur, Shay
    Published: [2022]
    Publisher:  Research Department, Bank of Israel, Jerusalem, Israel

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    Media type: Book
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    Series: Discussion paper / Bank of Israel Research Department ; 2022, 05 (January 2022)
    Subjects: Household; Human Capital; Children; Holocaust
    Scope: 1 Online-Ressource (circa 46 Seiten), Illustrationen
  8. Fiscal Federalism and the Role of the Income Tax
    Author: Gordon, Roger H.
    Published: October 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    This paper rethinks the design of the income tax by assuming that the objective of the tax is not to redistribute from rich to poor but instead to provide some insurance to individuals against the uncertainties they face in their future earnings, a... more

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    This paper rethinks the design of the income tax by assuming that the objective of the tax is not to redistribute from rich to poor but instead to provide some insurance to individuals against the uncertainties they face in their future earnings, a motivation for the tax proposed in Buchanan (1976). The income tax provides insurance by collecting money on net from individuals to the extent they end up doing well to finance net transfers to them when they end up doing badly. Individuals differ in the amount of future risks they face. These heterogeneous tastes for insurance provide a rationale for states to offer heterogeneous tax/transfer programs, each state attracting a different clientele in the population. Given the ease of household migration, state tax policies generate fiscal externalities to other states. The paper explores as well possible Federal interventions to improve on the equilibrium choices states make for their tax policies

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w31755
    Subjects: Einkommensteuer; Optimale Besteuerung; Finanzbeziehungen; Umverteilung; Efficiency; Optimal Taxation; Personal Income and Other Nonbusiness Taxes and Subsidies; Household; State and Local Taxation, Subsidies, and Revenue
    Scope: 1 Online-Ressource, illustrations (black and white)
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  9. Is There Really an Inflation Tax? Not For the Middle Class and the Ultra-Wealthy
    Author: Wolff, Edward N.
    Published: October 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    One hallmark of U.S. monetary policy since the early 1980s has been moderation in inflation (at least, until recently). How has this affected household well-being? The paper first develops a new model to address this issue. The inflation tax on... more

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    One hallmark of U.S. monetary policy since the early 1980s has been moderation in inflation (at least, until recently). How has this affected household well-being? The paper first develops a new model to address this issue. The inflation tax on income is defined as the difference between the nominal and real growth in income. This term is always negative (as long as inflation is positive). The inflation gain on household wealth is the revaluation resulting from asset price changes directly linked to inflation. This term can be positive or negative. The net inflation gain is the difference between the two, which can also be positive or negative. The empirical analysis covers years 1983 to 2019 on the basis of the Federal Reserve Board's Survey of Consumer Finances (SCF) and historical inflation rates. It also looks at the sensitivity of the results to alternative inflation rates, and considers the effects of inflation on real wealth growth, wealth inequality, and the racial wealth gap. The results show that inflation boosted the real income of the middle wealth quintile by a staggering two thirds. In contrast, the bottom two wealth quintiles got clobbered by inflation, losing almost half of their real income. Inflation also boosted mean and especially median real wealth growth, reduced wealth inequality, and lowered the racial and ethnic wealth gap. Both the income and wealth results are magnified at higher (simulated) rates of inflation

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w31775
    Subjects: Inflation; Geldpolitik; Privater Haushalt; Haushaltseinkommen; Privatvermögen; Vermögensverteilung; Verbraucherpreisindex; Personal Income, Wealth, and Their Distributions; Household; Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
    Scope: 1 Online-Ressource, illustrations (black and white)
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  10. The Luxembourg household finance and consumption survey
    results from the fourth wave in 2021
    Author: Mathä, Thomas; Pulina, Giuseppe; Montes-Viñas, Ana; Ziegelmeyer, Michael
    Published: November 2023
    Publisher:  Banque centrale du Luxembourg, Luxembourg

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    Series: Working paper / Banque centrale du Luxembourg ; no 176
    Subjects: Household; survey; wealth; income; assets; debts; COVID-19
    Scope: 1 Online-Ressource (circa 134 Seiten), Illustrationen
  11. The Outlook for Women's Employment and Labor Force Participation
    Author: Albanesi, Stefania
    Published: November 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Employment and participation rates for US prime age women rose steadily during the second half of the 20th century. In the last 30 years, however, those rates stagnated, even as employment and participation rates for women in other industrialized... more

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    Employment and participation rates for US prime age women rose steadily during the second half of the 20th century. In the last 30 years, however, those rates stagnated, even as employment and participation rates for women in other industrialized countries continued to rise. I discuss the role of changes in the earnings structure and persistent institutional barriers, such as limited investment in family policies, that may be holding back employment among American women today. The COVID-19 pandemic reduced employment more for women than for men and raised the barriers to female participation due to the increase in childcare responsibilities during this period. Yet, the diffusion of remote and hybrid work arrangements in its aftermath may be beneficial for women's participation in the long run, even if both men's and women's post-pandemic employment growth so far are strongly associated with access to remote work options

     
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  12. How Much Are the Poor Losing From Tax Competition?
    Author: Muñoz, Mathilde
    Published: November 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    This paper quantifies the unequal welfare effects of tax competition. I derive the optimal tax and transfer schedules in a free mobility union composed of countries that can either compete or set a uniform federal tax rate. In the absence of fiscal... more

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    This paper quantifies the unequal welfare effects of tax competition. I derive the optimal tax and transfer schedules in a free mobility union composed of countries that can either compete or set a uniform federal tax rate. In the absence of fiscal coordination, governments internalize that any decentralized tax reform can lead to the out-migration of taxpayers at the top of the income distribution while increasing the in-migration of transfer recipients. As a result, the optimal level of redistribution is always lower in the tax competition equilibrium. Numerical calibrations show that being in a competition union rather than in a federal union decreases poorer individuals' welfare by up to -20 percent. In contrast, the rich experience higher welfare in the tax competition equilibrium due to lower tax rates

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w31920
    Subjects: Steuerwettbewerb; Föderalismus; Steuerreform; Steuerpolitik; Verteilungswirkung; Wohlfahrtsanalyse; USA; Household; Interjurisdictional Differentials and Their Effects
    Scope: 1 Online-Ressource, illustrations (black and white)
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  13. The Luxembourg household finance consumption survey
    results from the 2nd wave
    Author: Girshina, Anastasia; Mathä, Thomas; Ziegelmeyer, Michael
    Published: May 2017
    Publisher:  Banque centrale du Luxembourg, Luxembourg

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    Source: Union catalogues
    Language: English
    Media type: Book
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    Series: Working paper / Banque centrale du Luxembourg ; no 106
    Subjects: Household; survey; editing; multiple imputation; wealth; income
    Scope: 1 Online-Ressource (circa 63 Seiten), Illustrationen
  14. Short-Term Tax Cuts, Long-Term Stimulus
    Author: Cloyne, James; Martinez, Joseba; Mumtaz, Haroon; Surico, Paolo
    Published: July 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We study the persistent effects of temporary changes in U.S. federal corporate and personal income tax rates using a narrative identification approach. A corporate income tax cut leads to a sustained increase in GDP and productivity, with peak... more

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    We study the persistent effects of temporary changes in U.S. federal corporate and personal income tax rates using a narrative identification approach. A corporate income tax cut leads to a sustained increase in GDP and productivity, with peak effects between five and eight years. R&D spending and capital investment display hump-shaped responses while hours worked and employment are much less affected. In contrast, personal income tax cuts trigger a short-lived boost to GDP, productivity and hours worked but have no long-term effects. We develop and estimate an endogenous growth model with variable factor utilization and show that these features generate a pro-cyclical response of productivity which is key to account for our empirical findings

     
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    Source: Union catalogues
    Language: English
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    Series: NBER working paper series ; no. w30246
    Subjects: Antizyklische Finanzpolitik; Steuersenkung; Einkommensteuer; Unternehmensbesteuerung; Wirkungsanalyse; Wachstumstheorie; USA; Production; Fiscal Policy; Personal Income and Other Nonbusiness Taxes and Subsidies; Business Taxes and Subsidies; Household; Firm; Management of Technological Innovation and R&D
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  15. Genetic Endowments, Income Dynamics, and Wealth Accumulation Over the Lifecycle
    Author: Barth, Daniel; Papageorge, Nicholas W.; Thom, Kevin; Velásquez-Giraldo, Mateo
    Published: August 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We develop and estimate a life-cycle consumption savings model in which observed genetic variation is allowed to affect wealth accumulation through several distinct channels. We focus on genetic markers that predict educational attainment, aggregated... more

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    We develop and estimate a life-cycle consumption savings model in which observed genetic variation is allowed to affect wealth accumulation through several distinct channels. We focus on genetic markers that predict educational attainment, aggregated into a predictive index called a polygenic score. Based on substantial descriptive evidence, we allow variation in these endowments to affect earnings, the disutility of labor, stock market participation costs, and idiosyncratic rates of return on risky investments. The model also incorporates endogenous retirement and a realistic social security system. Parameter estimates suggest that, in addition to earnings, genetic differences are significantly associated with risky asset returns, both of which contribute to wealth inequality. Counterfactual policy exercises indicate that two ways to lower costs of an aging population (extending the age of retirement or cutting social security benefits) have similar magnitudes and distributions of welfare costs even though the latter policy appears to reduce wealth differences between agents with different genetic endowments. This illustrates the importance of welfare calculations when evaluating how genes interact with policy, which is possible to do if we incorporate genetic data into structural models

     
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  16. Investing in Infants
    The Lasting Effects of Cash Transfers to New Families
    Author: Barr, Andrew C.; Eggleston, Jonathan; Smith, Alexander A.
    Published: August 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We provide new evidence that cash transfers following the birth of a first child can have large and long-lasting effects on that child's outcomes. We take advantage of the January 1 birthdate cutoff for U.S. child-related tax benefits, which results... more

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    We provide new evidence that cash transfers following the birth of a first child can have large and long-lasting effects on that child's outcomes. We take advantage of the January 1 birthdate cutoff for U.S. child-related tax benefits, which results in families of otherwise similar children receiving substantially different refunds during the first year of life. For the average low-income single-child family in our sample this difference amounts to roughly $1,300, or 10 percent of income. Using the universe of administrative federal tax data in selected years, we show that this transfer in infancy increases young adult earnings by at least 1 to 2 percent, with larger effects for males. These effects show up at earlier ages in terms of improved math and reading test scores and a higher likelihood of high school graduation. The observed effects on shorter-run parental outcomes suggest that additional liquidity during the critical window following the birth of a first child leads to persistent increases in family income that likely contribute to the downstream effects on children's outcomes. The longer-term effects on child earnings alone are large enough that the transfer pays for itself through subsequent increases in federal income tax revenue

     
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  17. Unconditional Cash and Family Investments in Infants
    Evidence from a Large-Scale Cash Transfer Experiment in the U.S
    Author: Gennetian, Lisa A.; Duncan, Greg J.; Fox, Nathan A.; Magnuson, Katherine A.; Halpern-Meekin, Sarah; Noble, Kimberly G.; Yoshikawa, Hirokazu
    Published: August 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    A key policy question in evaluating social programs to address childhood poverty is how families receiving unconditional financial support would spend those funds. Economists have limited empirical evidence on this topic in the U.S. We provide causal... more

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    A key policy question in evaluating social programs to address childhood poverty is how families receiving unconditional financial support would spend those funds. Economists have limited empirical evidence on this topic in the U.S. We provide causal estimates of financial and time investments in infants among families living in poverty from a large-scale, multi-site randomized controlled study of monthly unconditional cash transfers starting at the time of a child's birth. We find that the cash transfers increased spending on child-specific goods and mothers' early-learning activities with their infants. The marginal propensity to consume child-focused items from the cash transfer exceeded that from other income, consistent with the behavioral cues in the cash transfer design. We find no statistically detectable offsets in household earnings nor statistically detectable impacts in other pre-registered outcomes related to general household expenditures, maternal labor supply, infants' time in childcare, or mothers' subjective well-being

     
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    Source: Union catalogues
    Language: English
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    Format: Online
    Series: NBER working paper series ; no. w30379
    Subjects: Öffentliche Sozialleistungen; Bargeld; Wirkungsanalyse; Kinderarmut; USA; Household Production and Intrahousehold Allocation; Household; General; Fertility; Family Planning; Child Care; Children; Youth; Public Policy; Time Allocation and Labor Supply
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  18. Targeting Impact versus Deprivation
    Author: Haushofer, Johannes; Niehaus, Paul; Paramo, Carlos; Miguel, Edward; Walker, Michael W.
    Published: June 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Targeting is a core element of anti-poverty program design, with benefits typically targeted to those most "deprived" in some sense (e.g., consumption, wealth). A large literature in economics examines how to best identify these households feasibly... more

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    Targeting is a core element of anti-poverty program design, with benefits typically targeted to those most "deprived" in some sense (e.g., consumption, wealth). A large literature in economics examines how to best identify these households feasibly at scale, usually via proxy means tests (PMTs). We ask a different question, namely, whether targeting the most deprived has the greatest social welfare benefit: in particular, are the most deprived those with the largest treatment effects or do the "poorest of the poor" sometimes lack the circumstances and complementary inputs or skills to take full advantage of assistance? We explore this potential trade-off in the context of an NGO cash transfer program in Kenya, utilizing recent advances in machine learning (ML) methods (specifically, generalized random forests) to learn PMTs that target both a) deprivation and b) high conditional average treatment effects across several policy-relevant outcomes. We find that targeting solely on the basis of deprivation is generally not attractive in a social welfare sense, even when the social planner's preferences are highly redistributive. We show that a planner using simpler prediction models, based on OLS or less sophisticated ML approaches, could reach divergent conclusions. We discuss implications for the design of real-world anti-poverty programs at scale

     
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    Source: Union catalogues
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    Series: NBER working paper series ; no. w30138
    Subjects: Armut; Armutsbekämpfung; Öffentliche Sozialleistungen; Wirkungsanalyse; Methodologie; Künstliche Intelligenz; Kenia; Proxy Mean Test; Other; Household; Macroeconomic Analyses of Economic Development
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  19. Is Our Fiscal System Discouraging Marriage? A New Look at the Marriage Tax
    Author: Ilin, Elias; Kotlikoff, Laurence J.; Pitts, Melinda
    Published: June 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We develop, apply, and test a new measure of the marriage tax - the reduction in future spending from getting married - using SCF and ACS data. Our measure incorporates all major and most minor U.S. tax and benefit programs. And it assumes clone... more

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    We develop, apply, and test a new measure of the marriage tax - the reduction in future spending from getting married - using SCF and ACS data. Our measure incorporates all major and most minor U.S. tax and benefit programs. And it assumes clone marriage - marrying oneself - to ensure the living-standard loss from marrying is unaffected by spousal choice. Our calculated high and highly variable marriage taxes materially reduce the probability of marriage particularly for low-income females with children

     
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    Source: Union catalogues
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    Series: NBER working paper series ; no. w30159
    Subjects: Ehe; Familie; Familienbesteuerung; USA; Taxation, Subsidies, and Revenue; Household; Marriage; Marital Dissolution; Family Structure; Domestic Abuse; Public Policy
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  20. Older workers' employment and social security spillovers through the second year of the COVID-19 pandemic
    Author: Goda, Gopi Shah; Jackson, Emilie; Nicholas, Lauren Hersch; Stith, Sarah S.
    Published: [2022]
    Publisher:  Stanford Institute for Economic Policy Research (SIEPR), Stanford, CA

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    Series: Working paper / Stanford Institute for Economic Policy Research (SIEPR) ; no. 22, 34 (October, 2022)
    Subjects: Ältere Arbeitskräfte; Arbeitslosigkeit; Lohnersatzleistungen; Arbeitslosenversicherung; Sozialversicherung; USA; Household; National Government Expenditures and Related Policies; Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination; Retirement; Retirement Policies
    Scope: 1 Online-Ressource (circa 44 Seiten), Illustrationen
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  21. Targeting Precision Medicine
    Evidence from Prenatal Screening
    Author: Conner, Peter; Einav, Liran; Finkelstein, Amy; Persson, Petra; Williams, Heidi
    Published: November 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Medical technologies can target care to patients identified through screening, raising questions of how broadly to screen for potential use. We explore this empirically in the context of a non-invasive prenatal screening, cfDNA, which is used to... more

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    Medical technologies can target care to patients identified through screening, raising questions of how broadly to screen for potential use. We explore this empirically in the context of a non-invasive prenatal screening, cfDNA, which is used to target a more costly invasive test that elevates miscarriage risk. Using Swedish administrative data on prenatal choices for pregnancies conceived between 2011 and 2019 - a period in which Swedish regions began providing coverage for the new screening - we document that coverage of cfDNA substantially increases cfDNA screening and reduces invasive testing. To assess the impact of counterfactual targeting of cfDNA coverage, we develop and estimate a stylized model of prenatal choices. We find that narrow targeting of cfDNA coverage can improve outcomes and reduce costs, while broader coverage also improves outcomes but with increased costs. These findings point to the potential gains from well-designed targeting of screening, but at the same time highlight the importance of the targeting design

     
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    Source: Union catalogues
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    Series: NBER working paper series ; no. w30669
    Subjects: Medizinische Behandlung; Medizintechnik; Geburt; Schweden; Household; Health Behavior; Health Insurance, Public and Private; Government Policy; Regulation; Public Health; Fertility; Family Planning; Child Care; Children; Youth
    Scope: 1 Online-Ressource, illustrations (black and white)
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  22. Heterogenous impacts of trade liberalization on individual wages
    evidence from Thailand
    Author: Sasatra Sudsawasd; Hayakawa, Kazunobu
    Published: [2022]
    Publisher:  Institute of Developing Economies (IDE), JETRO, Chiba, Japan

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    hdl: 2344/00053488
    Series: IDE discussion paper ; no. 862
    Subjects: Household; Tariffs; Thailand
    Scope: 1 Online-Ressource (circa 27 Seiten), Illustrationen
  23. Heterogenous Rates of Return on Homes and Other Real Estate
    Do the Rich Do Better? Do Black Households Do Worse?
    Author: Wolff, Edward N.
    Published: October 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Recent work on wealth inequality based on the capitalization method wherein aggregate wealth totals are distributed in proportion to various forms of income like dividends has motivated a concern about whether rates of return on assets vary across... more

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    Recent work on wealth inequality based on the capitalization method wherein aggregate wealth totals are distributed in proportion to various forms of income like dividends has motivated a concern about whether rates of return on assets vary across the wealth distribution. In this study, I use a new data source, accrued capital gains on homes and other real estate as reported in the Survey of Consumer Finances. I find strong econometric evidence that returns on homes vary directly with wealth level and are considerably higher for the very wealthy compared to the middle class and lower wealth households. However, there is no evidence from the preferred specification that Black or Hispanic families receive lower returns on their property once controlling for factors such as years of occupancy and overall house price movements in the market. The number of years of occupancy is also a highly significant determinant of returns on homes. The effect is strongly negative because communities of residence become less desirable and real properties deteriorate physically over time, both factors reducing property values. Returns on individual homes are also strongly related to overall house price movements in the market, suggesting that timing the market is a key determinant

     
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    Source: Union catalogues
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    Series: NBER working paper series ; no. w30543
    Subjects: Wohnimmobilien; Wohneigentum; Rentabilität; Privater Haushalt; Schwarze Menschen; Hispano-Amerikaner; Vermögensverteilung; USA; Personal Income, Wealth, and Their Distributions; Household; Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
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  24. Older Workers' Employment and Social Security Spillovers through the Second Year of the COVID-19 Pandemic
    Author: Goda, Gopi Shah; Jackson, Emilie; Nicholas, Lauren Hersch; Stith, Sarah S.
    Published: October 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    The COVID-19 pandemic triggered a large and immediate drop in employment among US workers, along with major expansions of unemployment insurance and work from home. We use Current Population Survey and Social Security application data to study... more

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    The COVID-19 pandemic triggered a large and immediate drop in employment among US workers, along with major expansions of unemployment insurance and work from home. We use Current Population Survey and Social Security application data to study employment among older adults and their participation in disability and retirement insurance programs through the second year of the pandemic. We find ongoing improvements in employment outcomes among older workers in the labor force, along with sustained higher levels in the share no longer in the labor force during this period. Applications for Social Security disability benefits remain depressed, particularly for Supplemental Security Income. In models accounting for the expiration of expanded unemployment insurance, we find that the loss of these additional financial supports is associated with a drop in older adult unemployment rates and an increase in Social Security Disability Insurance claiming. Social Security retirement benefit claiming has rebounded to pre-pandemic levels, but has shifted from offline to online applications

     
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    Series: NBER working paper series ; no. w30567
    Subjects: Ältere Arbeitskräfte; Arbeitslosigkeit; Lohnersatzleistungen; Arbeitslosenversicherung; Sozialversicherung; USA; Household; National Government Expenditures and Related Policies; Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination; Retirement; Retirement Policies
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  25. Economic Impact Payments and Household Spending During the Pandemic
    Author: Parker, Jonathan A.; Schild, Jake; Erhard, Laura; Johnson, David S.
    Published: October 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Households spent only a small fraction of their 2020 Economic Impact Payment (EIPs) within a couple of months of arrival, consistent with i) pandemic constraints on spending, ii) other pandemic programs and social insurance, and iii) the broader... more

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    Households spent only a small fraction of their 2020 Economic Impact Payment (EIPs) within a couple of months of arrival, consistent with i) pandemic constraints on spending, ii) other pandemic programs and social insurance, and iii) the broader disbursement of the EIPs compared to the economic losses during the early stages of the pandemic. While these EIPs did not fill an urgent economic need for most households, the first round of EIPs did provide timely pandemic insurance to some households who were more exposed to the economic losses from the pandemic. Households with lower liquid wealth entering the pandemic and those less able to earn while working from home each raised consumption more following receipt of their EIP. While our measurement for later EIPs is not as reliable, our estimates suggest even less spending on average to the second and third rounds of EIPs. Our point estimates imply less short-term spending on average than in response to economic stimulus payments in 2001 or 2008. While our analysis lacks the power to measure longer-term spending effects, the lack of short-term spending contributed to strong household balance sheets as the direct economic effects of the pandemic on households waned

     
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    Series: NBER working paper series ; no. w30596
    Subjects: Öffentliche Sozialleistungen; Coronavirus; Intertemporale Entscheidung; Privater Konsum; USA; Household Saving; Personal Finance; Intertemporal Household Choice; Life Cycle Models and Saving; Consumption; Saving; Wealth; Fiscal Policy; Modern Monetary Theory; Household Finance; Household
    Scope: 1 Online-Ressource, illustrations (black and white)
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