| 1. |
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| 2. |
- Aronsson, Thomas, 1963-, et al.
(författare)
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Optimal taxation and risk-sharing arrangements in an economic federation
- 2003
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Ingår i: Oxford Economic Papers. - : Oxford University Press. - 0030-7653 .- 1464-3812. ; 55:1, s. 104-120
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Tidskriftsartikel (refereegranskat)abstract
- This paper analyzes optimal taxation and risk‐sharing arrangements in an economy with two levels of government. Both levels provide public goods and finance their expenditures via labor income taxation, where the tax base is responsive to the private agents' labor supply decisions. The localities are assumed to experience different random productivity shocks, meaning that the private labor supply decision as well as the choices of income tax rates are carried out under uncertainty. Part of the central government's decision problem is then to provide tax revenue sharing between the local governments. The optimal degree of revenue sharing depends on whether or not the localities/regions differ with respect to labor supply incentives.
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| 3. |
- Bastani, Spencer, et al.
(författare)
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How should commodities be taxed? : A counter-argument to the recommendation in the Mirrlees Review
- 2015
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Ingår i: Oxford Economic Papers. - : Oxford University Press (OUP). - 0030-7653 .- 1464-3812. ; 67:2, s. 455-478
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Tidskriftsartikel (refereegranskat)abstract
- The Mirrlees Review recommends that commodity taxation should in general be uniform, but with some goods consumed in conjunction with labour supply (such as child care) left untaxed. This article examines the validity of this claim in an optimal income tax framework. Contrary to the recommendation of the review, our theoretical results imply that even if all goods other than the good needed for working are separable from leisure, the optimal tax on these goods should not be uniform. Instead, commodity taxes should discourage consumption of goods with large expenditure elasticities. Our results imply that the optimal commodity tax system is dependent on the expenditure side of the government. For instance, if the government fully subsidizes the cost of the good needed for working, then commodity taxation is uniform under the standard separability assumption. Calibration exercises suggest that these results can be quantitatively important.
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| 4. |
- Borowiecki, Karol Jan
(författare)
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Historical origins of cultural supply in Italy
- 2015
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Ingår i: Oxford Economic Papers. - : Oxford University Press (OUP). - 1464-3812 .- 0030-7653. ; 67:3, s. 781-805
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Tidskriftsartikel (refereegranskat)abstract
- I investigate the consequences of long-run persistence of a society's preferences for cultural goods. Historical cultural activity is approximated with the frequency of births of music composers during the Renaissance and is linked with contemporary measures of cultural activity in Italian provinces. Areas with a 1% higher number of composer births nowadays show an up to 0.29% higher supply of classical concerts and 0.16% more opera performances. Classical concerts and opera performances have also rather bigger audiences and obtain greater revenues in provinces that have been culturally active in the past. Today, those provinces also exhibit a somewhat lower supply of other forms of entertainment (e.g., sport events), thereby implying a tantalizing divergence in societies' cultural preferences that is attributable to events rooted in the past. It is also shown that the geography of composer births is remarkably persistent over a period of seven centuries.
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| 5. |
- Carlsson, Fredrik, 1968, et al.
(författare)
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Do people exaggerate how happy they are? Using a promise to induce truth-telling
- 2018
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Ingår i: Oxford Economic Papers. - : Oxford University Press (OUP). - 0030-7653 .- 1464-3812. ; 70:3, s. 784-798
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Tidskriftsartikel (refereegranskat)abstract
- We investigate a novel approach to reduce measurement error in subjective well-being (SWB) data. Using a between-subject design, half of the subjects are asked to promise to answer the survey questions truthfully to make them commit to truth-telling. We find a statistically significant difference between mean stated well-being between the two samples (with and without a promise). People are consistently found to exaggerate their happiness and for several different aspects of life, without a promise. We then investigate to what extent the differences in stated well-being also affect the inference from regressions models on the determinants of SWB. The effect on the covariates are only weakly statistically significant and only for a few variables, if we compare the samples with and without the promise. Thus, this means that the policy implications based on an SWB study only marginally depends on whether we include a truth-telling question or not.
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| 6. |
- Carlsson, Fredrik, 1968, et al.
(författare)
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Funding a new bridge in rural Vietnam:a field experiment on social influence and default contributions
- 2015
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Ingår i: Oxford Economic Papers. - : Oxford University Press (OUP). - 0030-7653 .- 1464-3812. ; 67:4, s. 987-1014
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Tidskriftsartikel (refereegranskat)abstract
- Public goods provision is essential for economic development. Yet there is limited evidence regarding contributions to local public goods in developing countries. This article analyses a field experiment where all 200 households in a village in rural Vietnam make real contributions to a public good that is very important for them in daily life—a bridge. We study the role of social influence (that people may be more willing to co-operate if others do) and the effects of the default alternative in the choice situation. We find significant and substantial (in the order of magnitude of 15–25%) effects of both social influence and defaults but only when providing low reference or default contributions.
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| 7. |
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| 8. |
- Carlsson, Fredrik, 1968, et al.
(författare)
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Measuring trust in institutions
- 2024
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Ingår i: Oxford Economic Papers-New Series. - : Oxford University Press (OUP). - 0030-7653. ; 76:1, s. 22-40
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Tidskriftsartikel (refereegranskat)abstract
- Trust in institutions is important for economic prosperity. We present results from a field study where we compare stated trust in institutions in general, stated trust in employees at institutions, and amount sent to employees at institutions using a trust game. Including more than 250 entrepreneurs in Addis Ababa in Ethiopia, we examine levels of trust towards entrepreneurship development agency, district administration, tax authority, and electric utility. There is a positive and sizeable significant correlation between stated trust and trust game. Furthermore, we find that generalized trust is weakly correlated with trust in specific institutions both compared with stated trust, and trust game. Given the large heterogeneity in levels of trust to specific institutions, we argue it is important to elicit institution-specific levels of trust.
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| 9. |
- Carlsson, Mikael, et al.
(författare)
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Product Market Imperfections and Employment Dynamics
- 2013
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Ingår i: Oxford Economic Papers. - : Oxford University Press (OUP). - 0030-7653 .- 1464-3812. ; 65:2, s. 447-470
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Tidskriftsartikel (refereegranskat)abstract
- How important is imperfect competition in the product market for employment dynamics? To investigate this, we formulate a model of employment adjustment with search frictions, vacancy costs, hiring costs, and imperfect competition in the product market. From this model, we derive a structural equation for employment that we estimate on firm-level data. We find that product market demand shocks have significant and quantitatively large effects on employment. This supports a model with imperfect competition in the product market. We find no evidence that the level of unemployment in the local labour market has a direct effect on job creation in existing firms. In some specifications, we find evidence of congestion effects, i.e., that hiring is slowed down if there are many vacancies in the local labour market.
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| 10. |
- Coller, Maribeth, et al.
(författare)
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Latent process heterogeneity in discounting behavior
- 2012
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Ingår i: Oxford Economic Papers. - : Oxford University Press. - 0030-7653 .- 1464-3812. ; 64:2, s. 375-391
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Tidskriftsartikel (refereegranskat)abstract
- We show that observed choices in discounting experiments are consistent with roughly one-half of the subjects using exponential discounting and one-half using quasi-hyperbolic discounting. We characterize the latent data generating process using a mixture model which allows different subjects to behave consistently with each model. Our results have substantive implications for the assumptions made about discounting behavior, and also have significant methodological implications for the manner in which we evaluate alternative models when there may be complementary data generating processes.
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| 11. |
- Dannenberg, Astrid
(författare)
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Non-binding agreements in public goods experiments
- 2016
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Ingår i: Oxford Economic Papers-New Series. - : Oxford University Press (OUP). - 0030-7653. ; 68:1, s. 279-300
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Tidskriftsartikel (refereegranskat)abstract
- This article presents experimental evidence on the effects of non-binding agreements on co-operation in public goods games. In particular, it compares first-best agreements that require full co-operation by all players and second-best agreements that require only a minimum contribution level rather than full co-operation. The results show that when there is no punishment opportunity, second-best agreements work better than first-best agreements because they are more likely to be formed and kept. First-best agreements form at the beginning of the game, but non-compliant behaviour by some players causes co-operation to collapse. This result is reversed when there is a punishment opportunity. In this case, first-best agreements work better than second-best agreements as they allow groups to establish a common behavioural standard, deter violations, and achieve very high levels of co-operation.
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| 12. |
- Daunfeldt, Sven-Olov, et al.
(författare)
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Central bank independence and price stability : evidence from OECD-countries
- 2008
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Ingår i: Oxford Economic Papers. - Oxford : Oxford University Press (OUP). - 0030-7653 .- 1464-3812. ; 60:3, s. 410-422
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Tidskriftsartikel (refereegranskat)abstract
- In this paper, we use a non-parametric regression method to compare the transition process from high to low inflation with the implementation dates of central bank independence reforms. In most countries, price stability is achieved before more independence is given to the central bank. Moreover, for those countries which have implemented a central bank independence reform under a high inflation regime, no evidence is found that the reforms have actually led to price stability. This suggests that the credibility of a low inflation goal can be achieved without institutional reforms which grant the central bank more independence from the political policymakers.
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| 13. |
- Di Porto, Edoardo, et al.
(författare)
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Informal work in a flexible labour market
- 2017
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Ingår i: Oxford Economic Papers. - : OXFORD UNIV PRESS. - 0030-7653 .- 1464-3812. ; 69:1, s. 143-164
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Tidskriftsartikel (refereegranskat)abstract
- Informal employment is a pervasive and persistent feature of most developing and developed economies. Labour taxation and labour market regulations are deemed two major causes for operating in the informal sector. Using data from France, Italy, and Spain, we analyse gross job flows and gross worker flows in the formal and informal sectors in the presence of lenient employment protection legislation, and investigate the way traditional policy interventions may favour transitions from one sector to the other. We show that optimal outcomes in terms of reduction and formalisation of informal jobs across the three countries examined are achieved with the combination of lower payroll taxes for permanent contracts and higher inspection rate for firms operating in the informal sector. Coupling lower firing costs with more frequent labour inspections also reduces informality, but this comes at the cost of an increased ratio of temporary to total employment.
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| 14. |
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| 15. |
- Edin, Per-Anders, et al.
(författare)
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The effect of trade on earnings - evidence from Swedish micro data
- 2004
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Ingår i: Oxford Economic Papers. - : Oxford University Press (OUP). - 1464-3812 .- 0030-7653. ; 56:2, s. 231-241
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Tidskriftsartikel (övrigt vetenskapligt/konstnärligt)abstract
- Using a large longitudinal data set, we study the effects of increased trade on earnings in the Swedish labor market. Earnings respond significantly to changes in industry sales, whether generated by domestic market forces or international trade: Swedish exports (imports) raise (lower) annual earnings, but changes in trade affect earnings just as any other shift in market conditions. We also examine whether the effects of trade vary by skill. We do not find systematic differences in the effects of trade across the skill distribution.
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| 16. |
- Fredriksson, Peter
(författare)
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The dynamics of regional labor markets and active labor market policy: Swedish evidence
- 1999
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Ingår i: Oxford Economic Papers - New Series. - : OXFORD UNIV PRESS. - 0030-7653. ; 51:4, s. 623-648
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Tidskriftsartikel (refereegranskat)abstract
- This paper analyses the repercussions of region-specific shocks to labor demand. Active labor market programs have been targeted at high unemployment regions in Sweden, a faa that should influence the regional adjustment process. Fears have been expressed
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| 17. |
- Garcia, Juan Angel, et al.
(författare)
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Inflation trends in Asia : implications for central banks
- 2022
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Ingår i: Oxford Economic Papers. - : Oxford University Press. - 0030-7653 .- 1464-3812. ; 74:3, s. 671-700
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Tidskriftsartikel (refereegranskat)abstract
- This article shows that trend inflation estimation offers crucial insights for the ana-lysis of inflation dynamics and long-term inflation expectations. Focusing on the 12 largest Asian economies, a sample comprising both advanced and emerging economies and different monetary policy regimes, we show that trend inflation analysis can help explain the different impact of the disinflationary shocks across countries. Among countries with inflation below target in recent years, in those with trend inflation low but constant (Australia, New Zealand) low inflation may be lasting, but temporary, while those in which trend inflation has declined (South Korea, Thailand) risk low inflation to become entrenched and a de-anchoring of expectations. Countries like India, Philippines, and Indonesia instead experienced a moderation in inflation and lower trend inflation, while others (China, Taiwan, Hong Kong SAR, Malaysia) were impacted very mildly. That diverse international evidence offers important insights for central banks worldwide.
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| 18. |
- Harrison, Glenn W., et al.
(författare)
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Preferences over social risk
- 2013
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Ingår i: Oxford Economic Papers. - : Oxford University Press. - 0030-7653 .- 1464-3812. ; 65:1, s. 25-46
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Tidskriftsartikel (refereegranskat)abstract
- We elicit individual preferences over social risk. We identify the extent to which these preferences are correlated with preferences over individual risk and the well-being of others. We examine these preferences in the context of laboratory experiments over small, anonymous groups, although the methodological issues extend to larger groups that form endogenously (e.g., families, committees, communities). Preferences over social risk can be closely approximated by individual risk attitudes when subjects have no information about the risk preferences of other group members. We find no evidence that subjects systematically reveal different risk attitudes in a social setting with no prior knowledge about the risk preferences of others compared to when they solely bear the consequences of the decision. However, we also find that subjects are significantly more risk averse when they know the risk preferences of other group members.
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| 19. |
- Holmlund, Bertil, et al.
(författare)
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Mind the Gap? Estimating the Effects of Postponing Higher Education
- 2008
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Ingår i: Oxford Economic Papers. - : Oxford University Press (OUP). - 0030-7653 .- 1464-3812. ; 60:4, s. 683-710
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Tidskriftsartikel (refereegranskat)abstract
- This paper estimates the effects on earnings of “gap years” between high school and university enrollment. The effect is estimated by means of standard earnings functions augmented to account for gap years and a rich set of control variables using administrative Swedish data. We find that postponement of higher education is associated with a persistent and non-trivial earnings penalty. The main source of the persistent penalty appears to be the loss of work experience after studies. The reduction of lifetime earnings associated with two years postponement of higher education amounts to 40-50 percent of annual earnings at age 40.
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| 20. |
- Larsson Seim, Anna, et al.
(författare)
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Testing the impact of inflation targeting and central bank independence on labour market outcomes
- 2013
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Ingår i: Oxford Economic Papers. - : Oxford University Press (OUP). - 0030-7653 .- 1464-3812. ; 65:2, s. 240-267
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Tidskriftsartikel (refereegranskat)abstract
- We investigate the impact of inflation targeting and central bank independence on wage formation and unemployment using a panel of 20 OECD countries from 1982-2003. The results suggest that monetary institutions matter for wage formation. Real wages are on average higher under inflation targeting, in particular in economies with highly coordinated or centralized wage setting. This finding is in line with the strand of literature arguing that a liberal central bank may be more conducive to wage restraint than a conservative central bank if unions are inflation averse. Our results thus lend no support to the popular deterrence hypothesis. While inflation targeting seems to matter for wage formation, we find no evidence of effects on unemployment. Another key finding is that real wages tend to be lower in countries within the EMU.
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| 21. |
- Lundborg, Petter, et al.
(författare)
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Heterogeneity in the impact of health shocks on labour outcomes : evidence from Swedish workers
- 2015
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Ingår i: Oxford Economic Papers. - : Oxford University Press (OUP). - 0030-7653 .- 1464-3812. ; 67:3, s. 715-739
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Tidskriftsartikel (refereegranskat)abstract
- This article provides new evidence on heterogeneity in the impact of health shocks by using register-based data on the entire population of Swedish workers. We formulate a difference-in-difference design, where we compare the change in labour earnings across matched workers with a high and low level of education who experience the same type of health shocks. Our results suggest major heterogeneity in the effects, where a given health shock has a greater relative negative impact on low-skilled individuals/individuals with a low level of education. These results hold across different types of health shocks and become more pronounced with age. Low-skilled workers are also more likely to leave the labour force and receive disability insurance, sickness insurance, and unemployment benefits following a health shock. Our results suggest that heterogeneity in the effect of health shocks offers one explanation as to how the educational gradient in health arises.
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| 22. |
- Mannberg, Andrea, et al.
(författare)
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Conflicting identities and social pressure : effects on the long-run evolution of female labour supply
- 2015
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Ingår i: Oxford Economic Papers. - : Oxford University Press (OUP). - 0030-7653 .- 1464-3812. ; 67:2, s. 269-290
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Tidskriftsartikel (refereegranskat)abstract
- Drawing on psychological theories of social identity and cognitive dissonance, we develop a dynamic model for the evolution of female labour supply. We assume that agents, in addition to consumption and leisure, also derive utility from complying with social and personal norms such that deviations from norms induce psychological costs. An important contribution is that we allow for conflicting norms and we assume that the weight of these norms in the agent's utility is endogenous. We show that conflicting norm incentives may have long-run effects on labour supply: for example, the long-run effect of a wage increase on labour supply is reinforced if agents can adjust the weight attached to a given norm, and that women may be prevented from making a full transition from homemakers to breadwinners if such a transition make them outsiders in society.
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| 23. |
- Mussio, Irene, et al.
(författare)
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Higher order risk attitudes in the time of COVID-19 : an experimental study
- 2022
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Ingår i: Oxford Economic Papers. - : Oxford University Press. - 0030-7653 .- 1464-3812. ; 75:1, s. 163-182
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Tidskriftsartikel (refereegranskat)abstract
- The coronavirus disease (COVID-19) represents a large increase in background riskfor individuals. Like the COVID-19 pandemic, extreme events (e.g. financial downturns, natural disasters, and war) have been shown to change attitudes towards risk.Using a risk apportionment approach, we examine whether risk aversion as well ashigher order risk attitudes (HORAs) (prudence and temperance) have changed during COVID-19. This methodology allows us to measure model-free HORAs. We include prudence and temperance as higher order measures, as these two have beenlargely understudied under extreme events but are determinants of decisionsrelated to the health and financial domains. Once we account for socio-demographiccharacteristics, we find an overall increase in risk aversion during COVID-19. Wealso find similar results using a hypothetical survey question which measures willingness to take risks. We do not find changes in prudence and temperance using therisk apportionment methodology.
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| 24. |
- Neugart, Michael, et al.
(författare)
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The emergence of temporary work agencies
- 2006
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Ingår i: OXFORD ECONOMIC PAPERS-NEW SERIES. - : Oxford University Press (OUP). - 0030-7653. ; 58:1, s. 137-156
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Tidskriftsartikel (refereegranskat)
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| 25. |
- Sutter, Matthias, 1968, et al.
(författare)
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Individuals and teams in auctions
- 2009
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Ingår i: Oxford Economic Papers. - : Oxford University Press (OUP). - 0030-7653 .- 1464-3812. ; 61:2, s. 380-394
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Tidskriftsartikel (refereegranskat)abstract
- Experimental studies on bidding in auctions have so far relied on individual bidders, even though teams are often involved in real auctions. We examine the bidding behaviour of individuals and teams. Our experimental results show that teams stay longer in an (ascending sealed-bid English) auction and pay significantly higher prices than individuals. Consequently, teams make smaller profits and suffer more often from the winner's curse. The auction's efficiency is nevertheless higher with teams, since bidders with the highest valuation are more likely to win the auction when teams bid. We relate our findings to the European UMTS-spectrum auctions.
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