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Full-Text Articles in Behavioral Economics
Cooling Measures And Housing Wealth: Evidence From Singapore, Wolfgang K. Hardle, Rainer Schulz, Taojun Xie
Cooling Measures And Housing Wealth: Evidence From Singapore, Wolfgang K. Hardle, Rainer Schulz, Taojun Xie
Research Collection Lee Kong Chian School Of Business
Excessive house price growth was at the heart of the financial crisis in 2007/08. Since then, many countries have added cooling measures to their regulatory frameworks. It has been found that these measures can indeed control price growth, but no one has examined whether this has adverse consequences for the housing wealth distribution. We examine this for Singapore, which started in 2009 to target price growth over ten rounds in total. We find that welfare from housing wealth in the last round might not be higher than before 2009. This depends on the deflator used to convert nominal into real …
Tax Uncertainty And Business Activity, Jungho Lee, Jianhuan Xu
Tax Uncertainty And Business Activity, Jungho Lee, Jianhuan Xu
Research Collection School Of Economics
We investigate the extent to which uncertainties about tax policies affect business activities. We develop a statewide tax-uncertainty measure (TU measure) and show that it captures state corporate tax uncertainty. By comparing adjacent counties across state borders, we show that increasing tax uncertainty by one standard deviation (a 30% increase in the TU measure) leads to a 0.17% point per-year decrease in the growth rate of establishments over two years. The result holds after conducting a variety of robustness checks and is not likely to be driven by general state-policy uncertainties.
Economic Cycles As A Source Of Social Influence On Individuals, Nina Sirola
Economic Cycles As A Source Of Social Influence On Individuals, Nina Sirola
Research Collection Lee Kong Chian School Of Business
The current review summarizes emerging research in psychology and associated disciplines showing that the economic cycles exert social influence on individuals across a range of psychological domains. Most research on social influence focused on how factors in the proximal environment impact individuals, while influences emanating from the state of the economy as a whole received far less attention. I review the development of different intellectual traditions examining social influence to explain the relative lack of attention to economic cycles and position emerging work on the topic relative to past research. I then review research on how economic cycles influence individuals …
Why Are Americans So Divided On Refugee Policy?, Shilpa Madan, Shankha Basu, Aneeta Rattan, Krishna Savani
Why Are Americans So Divided On Refugee Policy?, Shilpa Madan, Shankha Basu, Aneeta Rattan, Krishna Savani
Research Collection Lee Kong Chian School Of Business
The U.S. will resettle the lowest number of refugees in fiscal year 2019 since the Refugee Act was passed in 1980. After taking office, President Donald Trump reduced the admission limit from 110,000 in 2017 to 45,000 in 2018, and to 30,000 in 2019. The reduction is not a result of fewer refugees seeking resettlement. On the contrary, the number of people seeking resettlement is on the rise.