Economics Commons^™

The Impact Of Tax And Expenditure Policies On Income Disttribution: Evidence From A Large Panel Of Countries, Jorge Martinez-Vazquez, Violeta Vulovic, Blanca Moreno Dodson

ECON Publications

This paper focuses is on the potential role that taxation and public expenditure policies play in general in affecting income distribution. We find that progressive personal income taxes and corporate in-come taxes reduce income inequality. However, the effect of corporate income taxes seems to be eroded away in open or globalized economies. We also find that general consumption taxes, excise taxes and customs duties have a negative impact on income distribution. On the expenditure side, we find that higher shares of GDP on social welfare, education, health and housing public expenditures have a positive impact on income distribution.

Impatience, Incentives And Obesity, Garth Heutel, Charles Courtemanche, Patrick Mcalvanah

ECON Publications

This paper explores the relationship between time preferences, economic incentives, and body mass index (BMI). Using data from the 1979 cohort of the National Longitudinal Survey of Youth, we first show that greater impatience increases BMI even after controlling for demographic, human capital, and occupational characteristics as well as income and risk preference. Next, we provide evidence of an interaction effect between time preference and food prices, with cheaper food leading to the largest weight gains among those exhibiting the most impatience. The interaction of changing economic incentives with heterogeneous discounting may help explain why increases in BMI have been …

La Descentralización Tributaria A Las Comunidades Autónomas En España: Desafíos Y Soluciones, Jorge Martinez-Vazquez

ECON Publications

No abstract provided.

Asymmetrically Dominated Choice Problems, The Isolation Hypothesis And Random Incentive Mechanisms, James C. Cox, Vjollca Sadiraj, Ulrich Schmidt

ECON Publications

This paper presents an experimental study of the random incentive mechanisms which are a standard procedure in economic and psychological experiments. Random incentive mechanisms have several advantages but are incentivecompatible only if responses to the single tasks are independent. This is true if either the independence axiom of expected utility theory or the isolation hypothesis of prospect theory holds. We present a simple test of this in the context of choice under risk. In the baseline (one task) treatment we observe risk behavior in a given choice problem. We show that by integrating a second, asymmetrically dominated choice problem in …

Behaviorism In Finance And Securities Law, David A. Skeel Jr.

All Faculty Scholarship

In this Essay, I take stock (as something of an outsider) of the behavioral economics movement, focusing in particular on its interaction with traditional cost-benefit analysis and its implications for agency structure. The usual strategy for such a project—a strategy that has been used by others with behavioral economics—is to marshal the existing evidence and critically assess its significance. My approach in this Essay is somewhat different. Although I describe behavioral economics and summarize the strongest criticisms of its use, the heart of the Essay is inductive, and focuses on a particular context: financial and securities regulation, as recently revamped …

Obesogenic Environmental Influences On Young Adults: Evidence From Randomized Dormitory Assignment, Kandice A. Kapinos, Olga Yakusheva, Daniel Eisenberg

Economics Faculty Research and Publications

This study utilizes a natural experiment—conditionally random dormitory assignments of first-year US college students—to investigate the influence of obesogenic environmental factors in explaining changes in weight and exercise behavior during the 2009–2010 academic year. The design addresses potential selection biases resulting from the likelihood that individuals sort into built environments that match their preferences for exercise and healthy eating. We find some evidence that the food environment, specifically access to campus dining, significantly affected the weight of female students in our study. Females assigned to dormitories where the nearest campus dining hall was closed on the weekends gained about 1 …

Leisure And Happiness: Evidence From International Survey Data, Miao Wang, M. C. Sunny Wong

Economics Faculty Research and Publications

We study the statistical link between leisure and happiness. Using survey data from 33 countries in 2007, we find that (1) certain leisure activities, leisure’s role in self-fulfillment and social interaction, and leisure’s relation to work and other spheres of life are significantly linked to individual happiness; (2) the effect of leisure quantity is not as important as other aspects of leisure; and (3) some leisure activities can be negatively associated with happiness. Consistent with findings in previous studies, family income and individual demographic variables such as age and health condition are significantly associated with happiness. National unemployment and political …

Limiting The Mortgage Interest Deduction By Size Of Home: Effects On The User Cost And Price Of Housing Across Metropolitan Areas, Andrew Hanson

Economics Faculty Research and Publications

In this paper, I examine the user cost and home price implications of limiting the federal mortgage interest deduction (MID) based on the square footage of a home. I extend the standard user cost model to include a square footage-based cap on the tax-favored status of mortgage interest. I compare two policy alternatives: one that limits the marginal deduction based on home size, and another that removes the deduction on the home based on home size. There is substantial variation across metropolitan areas in both the number of homes exposed to each type of cap, the user cost increase, and …

Are Houses Too Big Or In The Wrong Place? Tax Benefits To Housing And Inefficiencies In Location And Consumption, David Albouy, Andrew Hanson

Economics Faculty Research and Publications

Tax benefits to owner-occupied housing provide incentives to consume housing, offsetting weaker disincentives of the property tax. These benefits also help counter the penalty federal taxes impose on households who work in productive high-wage areas, but reinforce incentives to consume local amenities. We simulate the effects of these benefits in a parameterized model, and determine the consequences of various tax reforms. Reductions in housing tax benefits generally increase efficiency in consumption, but reduce efficiency in location decisions, unless they are accompanied by tax rate reductions. The most efficient policy would eliminate most tax benefits to housing and index taxes to …

Self- Employment In Cuba After The 6th Party Congress, Mario A. Gonzalez-Corzo, Orlando Justo

Publications and Research

No abstract provided.

Economic Empowerment Through Income Generating Activities And Social Mobilization: The Case Of Married Amhara Women Of Wadla Woreda, North Wollo Zone, Ethiopia, Belete Deribie Woldegies

Antioch University Full-Text Dissertations & Theses

Wadla Woreda is located in North Wollo Zone, Amhara Regional State, Ethiopia. The woreda is predominantly agrarian and the population produces mainly subsistence food crops with small amounts of cash crops. Access to basic social and economic services such as health, education, and employment for rural communities is limited due to poor development of rural infrastructure. Wadla is one of the food insecure woredas in the region. As a result some of the people are internally displaced and a portion of the population is included in safety-net programs. The Wadla Woreda is prone to famine due to severe droughts, soil …

Do Workforce Development Programs In Minnesota Increase Wages?, Anna Jacob

Economics Honors Projects

Job training serves as an opportunity for many citizens to develop workplace skills and technical training. Due to current debates on the effectiveness of state facilitated workforce development, program evaluations are a critical tool to analyze the net impact of job training. This paper used Kernel Density Propensity Score Difference-in-Differences estimation techniques to estimate the effect of workforce development training programs on wages. Using panel data from administrative records, I provide evidence that the WIA Adult and Dislocated Worker programs in the State of Minnesota offered significant benefits to participants for several cohorts from 2007-2010.

Tax, Command -- Or Nudge?: Evaluating The New Regulation, Brian Galle

Georgetown Law Faculty Publications and Other Works

This Article compares for the first time the relative economic efficiency of “nudges” and other forms of behaviorally-inspired regulation against more common policy alternatives, such as taxes, subsidies, or traditional quantity regulation. Environmental economists and some legal commentators have dismissed nudge-type interventions out of hand for their failure to match the revenues and informational benefits taxes can provide. Similarly, writers in the law and economics tradition argue that fines are generally superior to non-pecuniary punishments.

Drawing on prior work in the choice-of-instruments literature, and contrary to this popular wisdom, I show that nudges may out-perform fines, other Pigouvian taxes, or …

An Experimental Study On The Relevance And Scope Of Nationality As A Coordination Device, Olga B. Stoddard, Andreas Leibbrandt

Faculty Publications

In a period marked by extensive cross-national interactions, nationality may present an important focal point that individuals coordinate on. This study uses an experimental approach to study whether nationality serves as a coordination device. We let subjects from Japan, Korea, and China play coordination games in which we vary information about their partner. The results show that nationality serves as a coordination device if common nationality is the only piece of information available to the subjects. The strength of this device is nationality-dependent and diminishes when participants are provided with additional information about their partner. We also find that subjects …

Incidencia De Las Innovaciones Financieras En La Bancarización De Colombia : Un Análisis Descriptivo De Diagnóstico E Inferencia De Algunas Entidades Bancarias Entre 2008 Y 2012, Estefanía Torres Osorio, Vanessa Higuera Tobar

Finanzas y Comercio Internacional

El objetivo de este trabajo consiste en determinar la incidencia de la innovación financiera en la eficiencia y cobertura de la bancarización, de las cinco entidades bancarias más representativas de Colombia en el periodo 2008 a 2012 a través del análisis de los estados de resultados y balances generales en dicho periodo. Mediante la utilización de un modelo de regresión por datos panel, se determinará qué variables son significativas para explicar el comportamiento de la bancarización teniendo en cuenta la relación directa entre ésta y las innovaciones financieras. Posteriormente con el Método Delphi dirigido a expertos bancarios, se corroboraran los …

Evaluación De Indicadores De Profundización En Los Mercados De Valores Pertenecientes Al Mila 2008 – 2013: Una Propuesta Estratégica Desde El Estudio Comparativo Con El Mercado De Valores De Estados Unidos, Julián Rodríguez Téllez, Diana Carolina Silva Rodríguez

Finanzas y Comercio Internacional

El objetivo principal de la presente investigación es generar propuestas estratégicas para el desarrollo de los indicadores de profundización de los mercados de valores pertenecientes al MILA, a partir del estudio comparativo con el mercado de valores de Estados Unidos específicamente el NYSE, para ello se realiza una revisión y evaluación de los principales indicadores que influyen dentro de la profundización de los mercados y a través de una matriz Peyea se identifican los escenarios en los que más dificultades se encuentran para el desarrollo de los mercados de valores. Se concluye que como consecuencia de los bajos niveles de …

Formulación De Una Estrategia De Cobertura Financiera Para Una Empresa Del Sector Arrocero Colombiano: Estudio De Caso 2008-2013, Jeisson Fernando Monroy Cifuentes, Juan Felipe Moreno Garzón

Finanzas y Comercio Internacional

Existen diferentes factores que inciden en la variación de los ingresos de las empresas del sector arrocero, entre estos se cuenta la variación en los precios de la materia prima utilizada en el proceso de molinería. Debido a esto, se hace necesario el análisis de diferentes alternativas que permitan mitigar el impacto que tiene esta relación en los resultados obtenidos por la actividad. Por medio de la ejecución de las estrategias de cobertura de riesgo, se busca estabilizar los costos de la organización inherentes a la compra de arroz paddy a los productores colombianos, estimando la cantidad de toneladas que …

Análisis De La Contribución Del 4xmil Y Sus Efectos En La Inversión Extranjera Directa Ied En Colombia, Como Incidencia De Una Mayor Carga Impositiva En El Comercio Internacional En El Periodo De 1998 A 2012, Leidy Katherine Arias Hernández, Tania Alejandra Rodríguez Sabogal, Derly Johana Rivas Jiménez

Finanzas y Comercio Internacional

El objetivo de este trabajo, es analizar los efectos que genera el Gravamen a los Movimientos Financieros, conocido como 4xmil, en la Inversión Extranjera Directa (IED), como incidencia de una mayor carga impositiva y por consiguiente su efecto para el Comercio internacional en Colombia en el periodo comprendido entre 1998 y 2012, el cual, se desarrolla a través de un análisis cualitativo, por medio de revisión documental de referentes teóricos y documentos institucionales, con el fin de exponer de manera más clara cada una de las variables de estudio; igualmente, mediante un proceso cuantitativo no experimental con componentes de corte …

Análisis De Las Alternativas Crediticias Otorgadas Por El Gobierno Nacional, Como Opción De Financiamiento Para El Desarrollo Sostenible De La Zona De Reserva Campesina Ubicada En Municipio De Cabrera Cundinamarca, Desde El Año 2001 Hasta El Año 2012, Laura Natalia Castiblanco Roa, Alejandra Del Pilar Castillo Lozano

Finanzas y Comercio Internacional

El sector agrario en Colombia, las condiciones socioeconómicas de la población campesina, el conflicto interno armado y las ineficientes formas de financiación estatal para el sector agrícola han ocasionado graves afecciones a la población campesina impidiendo a esta alcanzar un nivel notable de desarrollo sostenible, por lo que en esta investigación el propósito principal fue evaluar el mecanismo crediticio idóneo para otorgar a los agricultores ubicados en la Zona de Reserva Campesina de Cabrera Cundinamarca, con el objetivo de promover desarrollo sostenible dentro de este territorio. Lo anterior se efectuó a partir del análisis de modelos de desarrollo sostenible que …

Efectos De La Política Monetaria En El Crédito De Finagro Para La Producción De Arroz En Colombia Entre 2000-2014, Maria Fernanda Holguín Alvarado, Eliana Catalina Rodríguez Arango, Wendy Natalia Valcárcel Mahecha

Finanzas y Comercio Internacional

Se reconoce que en los últimos años la política monetaria ha jugado un papel muy importante en la estabilización de los precios y del producto. Teóricamente se señala que cada vez que los bancos centrales modifican su tasa de interés de intervención para lograr los anteriores objetivos, generan unos mecanismos de transmisión, que son la manera como las decisiones de política se transmiten al resto de la economía. El propósito de esta investigación es analizar el mecanismo tradicional de tasa interés sobre un sector real, evaluando cómo estos cambios afectan la tasa de interés de mercado y ésta a su …