Public Economics Lectures Part 1: Introduction

More documents

Recommendations

Info

Non-Hours Responses Traditional literature focused purely on hours of work and labor force participation Problem: income taxes distort many margins beyond hours of work More important responses may be on those margins Hours very hard to measure (most ppl report 40 hours per week) Two solutions in modern literature: Focus on taxable income (wl) as a broader measure of labor supply (Feldstein 1995) Focus on subgroups of workers for whom hours are better measured, e.g. taxi drivers Public Economics Lectures ()Part 5: Income Taxation and Labor Supply 14 / 217
Progressive Taxes and Labor Supply OLS regression specification is derived from model with a single linear tax rate In practice, income tax systems are non-linear Consider effect of US income tax code on budget sets Public Economics Lectures ()Part 5: Income Taxation and Labor Supply 15 / 217
Page 1 and 2:
Public Economics Lectures Part 1: I
Page 3 and 4:
Motivation 1: Practical Relevance I
Page 5 and 6:
Motivation 2: Academic Interest Pub
Page 7 and 8:
Methodological Themes 1 Micro-based
Page 9 and 10:
Federal Government Revenue and Expe
Page 11 and 12:
Federal Revenues (% of total revenu
Page 13 and 14:
Federal Spending (% of total spendi
Page 15 and 16:
Government Intervention in the Econ
Page 17 and 18:
First Role for Government: Improve
Page 19 and 20:
First Welfare Theorem Private marke
Page 21 and 22:
Failure 2: Asymmetric Information a
Page 23 and 24:
Individual Failures Recent addition
Page 25 and 26:
Why Limit Government Intervention?
Page 27 and 28:
Three Types of Questions in Public
Page 29 and 30:
Public Economics Lectures Part 2: I
Page 31 and 32:
References on Tax Incidence Kotliko
Page 33 and 34:
Economic vs. Statutory Incidence Eq
Page 35 and 36:
Overview of Literature Ideally, we
Page 37 and 38:
Partial Equilibrium Model: Setup Tw
Page 39 and 40:
Partial Equilibrium Model: Supply P
Page 41 and 42:
Tax Levied on Producers Price S+t $
Page 43 and 44:
Perfectly Inelastic Demand Price D
Page 45 and 46:
Formula for Tax Incidence Implicitl
Page 47 and 48:
Tax Incidence with Salience Effects
Page 49 and 50:
Chetty et al.: Empirical Framework
Page 51 and 52:
Chetty et al.: Strategy 1 Experimen
Page 53 and 54:
TABLE 1 Evaluation of Tags: Classro
Page 55 and 56:
Period Effect of Posting TaxInclu
Page 57 and 58:
Period Effect of Posting TaxInclu
Page 59 and 60:
Chetty et al.: Strategy 2 Compare e
Page 61 and 62:
Per Capita Beer Consumption and Sta
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Evaluating Empirical Studies Consid
Page 69 and 70:
Cigarette Taxation: Background Ciga
Page 71 and 72:
Evans, Ringel, and Stech (1999) Exp
Page 73 and 74:
Public Economics Lectures () Part 2
Page 75 and 76:
Triple Difference Some studies use
Page 77 and 78:
Fixed Effects Include time and stat
Page 79 and 80:
Evans, Ringel, and Stech (1999) Imp
Page 81 and 82:
Evans, Ringel, and Stech: Incidence
Page 83 and 84:
Evans, Ringel, and Stech: Demand El
Page 85 and 86:
Evans, Ringel, and Stech: Long Run
Page 87 and 88:
Page 89 and 90:
Hastings and Washington 2008 Questi
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Rothstein 2008 How does EITC affect
Page 97 and 98:
Page 99 and 100:
Rothstein: Empirical Strategy Two m
Page 101 and 102:
DFL Reweighting Widely used method
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Rothstein: Results Basic DFL compar
Page 109 and 110:
Rothstein: Results Ultimately uses
Page 111 and 112:
Extensions of Basic Partial Equilib
Page 113 and 114:
Extensions of Basic Partial Equilib
Page 115 and 116:
Harberger 1962 Two Sector Model 1 F
Page 117 and 118:
Harberger Model: Effect of Tax Incr
Page 119 and 120:
Harberger Model: Main Effects 2. Ou
Page 121 and 122:
Harberger Model: Main Effects 3. Su
Page 123 and 124:
Computable General Equilibrium Mode
Page 125 and 126:
Criticism of CGE Models Findings ve
Page 127 and 128:
Open Economy Application: Framework
Page 129 and 130:
Open Economy Application: Empirics
Page 131 and 132:
Feldstein and Horioka 1980 Second s
Page 133 and 134:
Open Economy Applications: Empirics
Page 135 and 136:
Capitalization and the Asset Price
Page 137 and 138:
Empirical Applications 1 [Cutler 19
Page 139 and 140:
Cutler 1988 First, compute excess r
Page 141 and 142:
Cutler: Results Cutler finds ˆb =
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Linden and Rockoff: Results Find ho
Page 149 and 150:
Excess Returns Around Drug Approval
Page 151 and 152:
Distribution of Excess Returns arou
Page 153 and 154:
Mandated Benefits We have focused u
Page 155 and 156:
Mandated Benefits: Simple Model Lab
Page 157 and 158:
Mandated Benefit Wage Rate S w 1 B
Page 159 and 160:
Mandated Benefits: Incidence Formul
Page 161 and 162:
Gruber 1994 Studies state mandates
Page 163 and 164:
Page 165 and 166:
Acemoglu and Angrist 2001 Look at e
Page 167 and 168:
Acemoglu and Angrist 2001 Acemoglu
Page 169 and 170:
Page 171 and 172:
Public Economics Lectures Part 3: E
Page 173 and 174:
Definition Incidence analysis: effe
Page 175 and 176:
Effi ciency Cost: Introduction Gove
Page 177 and 178:
Partial Equilibrium Model: Setup Tw
Page 179 and 180:
Price Excess Burden of Taxation S $
Page 181 and 182:
Effi ciency Cost: Marshallian Surpl
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
EB Increases with Square of Tax Rat
Page 189 and 190:
P P 3 P 2 P 1 S+t 1 +t 2 S+t 1 E B
Page 191 and 192:
Tax Policy Implications With many g
Page 193 and 194:
General Model: Demand and Indirect
Page 195 and 196:
Path Dependence Problem Initial pri
Page 197 and 198:
Consumer Surplus: Conceptual Proble
Page 199 and 200:
Compensating and Equivalent Variati
Page 201 and 202:
Equivalent Variation Measures utili
Page 203 and 204:
Effi ciency Cost Formulas with Inco
Page 205 and 206:
Compensating vs. Equivalent Variati
Page 207 and 208:
Marshallian Surplus p h(V(p 1 ,Z))
Page 209 and 210:
Excess Burden Deadweight burden: ch
Page 211 and 212:
p h(V(p 1 ,Z)) ~ h(V(p 0 ,Z)) p 1 M
Page 213 and 214:
Implementable Excess Burden Formula
Page 215 and 216:
Harberger Formula Without pre-exist
Page 217 and 218:
Goulder and Williams 2003 Show that
Page 219 and 220:
Goulder and Williams Formula Obtain
Page 221 and 222:
Goulder and Williams Results Calibr
Page 223 and 224:
Harberger vs. Hausman Approach Unde
Page 225 and 226:
Primitives Sufficient Stats. Welfar
Page 227 and 228:
Heterogeneity Benefit of suff stat
Page 229 and 230:
Discrete Choice Model Recast as pla
Page 231 and 232:
Effi ciency Cost: Applications 1 [I
Page 233 and 234:
Feldstein Model: Setup Government l
Page 235 and 236:
Taxable Income Formula Simplicity o
Page 237 and 238:
Excess Burden with Transfer Costs L
Page 239 and 240:
Gorodnichenko, Martinez-Vazquez, an
Page 241 and 242:
Page 243 and 244:
Poterba 1992 Estimates effi ciency
Page 245 and 246:
Page 247 and 248:
Porterba: Results Tax reforms in 19
Page 249 and 250:
Page 251 and 252:
Price and Tax Elasticities By Year
Page 253 and 254:
Welfare Analysis in Behavioral Mode
Page 255 and 256:
Behavioral Welfare Economics: Two A
Page 257 and 258:
Behavioral Welfare Economics: Two A
Page 259 and 260:
Bernheim and Rangel 2009: Choice Se
Page 261 and 262:
Bernheim and Rangel 2009: Compensat
Page 263 and 264:
Bernheim and Rangel 2009: Refinemen
Page 265 and 266:
Welfare Analysis with Salience Effe
Page 267 and 268:
Welfare Analysis with Salience Effe
Page 269 and 270:
Preference Recovery Assumptions A1
Page 271 and 272:
Excess Burden with No Income Effect
Page 273 and 274:
Effi ciency Cost with Income Effect
Page 275 and 276:
Directions for Further Work on Beha
Page 277 and 278:
Outline 1 Commodity Taxation I: Ram
Page 279 and 280:
Second Welfare Theorem Starting poi
Page 281 and 282:
Four Central Results in Optimal Tax
Page 283 and 284:
Ramsey Model: Key Assumptions 1 Lum
Page 285 and 286:
Ramsey Model: Consumer Behavior Lag
Page 287 and 288:
Ramsey Model: Government’s Proble
Page 289 and 290:
Ramsey Formula: Perturbation Argume
Page 291 and 292:
Ramsey Formula: Compensated Elastic
Page 293 and 294:
Special Case 1: Inverse Elasticity
Page 295 and 296:
Special Case 2: Uniform Taxation Th
Page 297 and 298:
Diamond 1975: Many-Person Model H i
Page 299 and 300:
Diamond: Many-Person Optimal Tax Fo
Page 301 and 302:
Diamond: Optimal Transfer In this m
Page 303 and 304:
Lipsey and Lancaster (1956): Theory
Page 305 and 306:
Diamond and Mirrlees Model Two good
Page 307 and 308:
Consumer’s Offer Curve Public Eco
Page 309 and 310:
Production Set with Revenue Require
Page 311 and 312:
Second Best: Optimal Distortionary
Page 313 and 314:
Diamond and Mirrlees: General Model
Page 315 and 316:
Proof of Production Effi ciency Res
Page 317 and 318:
Policy Consequences: Public Sector
Page 319 and 320:
Policy Consequences: No Taxation of
Page 321 and 322:
Policy Consequences: No Taxation of
Page 323 and 324:
Diamond and Mirrlees: Optimal Tax R
Page 325 and 326:
Diamond and Mirrlees Result: Limita
Page 327 and 328:
Key Concepts for Taxes/Transfers Le
Page 329 and 330:
Optimal Income Tax with No Behavior
Page 331 and 332:
Mirrlees 1971: Incorporating Behavi
Page 333 and 334:
Mirrlees: Subsequent Work Mirrlees
Page 335 and 336:
Revenue-Maximizing Tax Rate: Laffer
Page 337 and 338:
Page 339 and 340:
Optimal Top Income Tax Rate { } dM
Page 341 and 342:
Optimal Top Income Tax Rate In US t
Page 343 and 344:
Connection to Revenue Maximizing Ta
Page 345 and 346:
Page 347 and 348:
General Non-Linear Income Tax Optim
Page 349 and 350:
Numerical Simulations of Optimal Ta
Page 351 and 352:
Numerical Simulations Use formula e
Page 353 and 354:
Commodity vs. Income Taxation Now c
Page 355 and 356:
Atkinson and Stiglitz: Commodity Ta
Page 357 and 358:
Atkinson-Stiglitz: Proof Revenue un
Page 359 and 360: Atkinson-Stiglitz: Intuition With s
Page 361 and 362: Atkinson-Stiglitz: Implications for
Page 363 and 364: Chamley-Judd: Capital Taxation Judd
Page 365 and 366: Taxation and Savings: Evidence Key
Page 367 and 368: Public Economics Lectures () Part 4
Page 369 and 370: Optimal Transfer Programs Several t
Page 371 and 372: Optimal Transfers: Mirrless Model M
Page 373 and 374: Saez 2002: Participation Model Mode
Page 379 and 380: Saez 2002: Optimal Tax Formula Smal
Page 387 and 388: Mankiw and Weinzierl 2009 Tagging w
Page 389 and 390: Nichols and Zeckhauser 1982: In-Kin
Page 391 and 392: Soup Kitchen without Wait: Cash Tra
Page 393 and 394: Income Taxation as Insurance (Varia
Page 395 and 396: Varian Model: Private Insurance Var
Page 397 and 398: Public Economics Lectures Part 5: I
Page 399 and 400: References Surveys in labor economi
Page 401 and 402: Baseline Labor-Leisure Choice Model
Page 403 and 404: Labor Supply Behavior First order c
Page 405 and 406: Econometric Problem 1: Unobserved H
Page 407 and 408: Measurement Error and Division Bias
Page 409: Extensive vs. Intensive Margin Rela
Page 413 and 414: Example 1: Progressive Income Tax P
Page 415 and 416: Example 3: Social Security Payroll
Page 417 and 418: Progressive Taxes and Labor Supply
Page 419 and 420: Non-Linear Budget Set Estimation: V
Page 421 and 422: Likelihood Function: Located at the
Page 423 and 424: Hausman (1981) Application Hausman
Page 425 and 426: Saez 2009: Bunching at Kinks Saez o
Page 427 and 428: Public Economics Lectures ()Part 5:
Page 429 and 430: Earnings Density and the EITC: Wage
Page 431 and 432: Taxable Income Density, 1960-1969:
Page 433 and 434: Friedberg 2000: Social Security Ear
Page 435 and 436: Friedberg: Estimates Estimates elas
Page 439 and 440: Why not more bunching at kinks? 1 T
Page 443 and 444: Chetty et al. 2009: Model Firms pos
Page 445 and 446: Cost of Bunching at Bracket Cutoff
Page 447 and 448: Marginal Tax Rates in Denmark in 19
Page 449 and 450: All Wage Earners: Top Tax Bracket C
Page 451 and 452: Married Women Frequency 0 10000 200
Page 453 and 454: Married Female Professionals with A
Page 455 and 456: Married Women, 1994 Frequency 0 100
Page 461 and 462:
Married Women, 2000 Frequency 0 100
Page 463 and 464:
Married Women at the Middle Tax: 10
Page 465 and 466:
Married Women at the Middle Tax: 8%
Page 467 and 468:
Distribution of Individuals’Deduc
Page 469 and 470:
Teachers Wage Income: 1998 Frequenc
Page 471 and 472:
Wage Earnings: Teachers with Deduct
Page 473 and 474:
Distribution of Modes in Occupation
Page 475 and 476:
SelfEmployed: Distribution around
Page 477 and 478:
Estimates of Hours and Participatio
Page 479 and 480:
Public Economics Lectures ()Part 5:
Page 481 and 482:
Page 483 and 484:
Problems with Experimental Design E
Page 485 and 486:
Instrumental Variable Methods Anoth
Page 487 and 488:
Mroz 1987: Setup and Results Uses b
Page 489 and 490:
Page 491 and 492:
Page 493 and 494:
Eissa 1995: Caveats Does the common
Page 495 and 496:
Bianchi, Gudmundsson, and Zoega 200
Page 497 and 498:
Page 499 and 500:
Bianchi, Gudmundsson, and Zoega 200
Page 501 and 502:
Overall Costs of Anti Poverty Progr
Page 503 and 504:
Monthly Welfare Case Loads: 1963-20
Page 505 and 506:
Behavioral Responses to the EITC 1
Page 507 and 508:
Eissa and Liebman 1996 Study labor
Page 509 and 510:
Eissa and Liebman: Results Find a s
Page 511 and 512:
Page 513 and 514:
Meyer and Rosenbaum 2001 Analyze th
Page 515 and 516:
Eissa and Hoynes 2004 EITC based on
Page 517 and 518:
Meyer and Sullivan 2004 Examine the
Page 519 and 520:
Relative Consumption: single women
Page 521 and 522:
Meyer and Sullivan: Results Materia
Page 523 and 524:
Changing Elasticities: Blau and Kah
Page 525 and 526:
Intertemporal Models and the MaCurd
Page 527 and 528:
Life Cycle Model: Time Separability
Page 529 and 530:
Dynamic Life Cycle Model: Frisch El
Page 531 and 532:
Page 533 and 534:
Frisch vs. Compensated vs. Uncompen
Page 535 and 536:
Card Critique of ITLS models Critiq
Page 537 and 538:
Blundell, Duncan, and Meghir 1998 C
Page 539 and 540:
Blundell, Duncan, and Meghir: Resul
Page 541 and 542:
Page 543 and 544:
Farber 2005: Division Bias Argues t
Page 545 and 546:
Manoli and Weber 2009 Use variation
Page 547 and 548:
Distribution of Tenure at Retiremen
Page 549 and 550:
US Income Taxation: Trends The bigg
Page 551 and 552:
Bottom 99% Tax Units 40% $40,000 35
Page 553 and 554:
Feldstein 1995 First study of taxab
Page 555 and 556:
Feldstein: Results Feldstein obtain
Page 557 and 558:
Feldstein: Econometric Criticisms S
Page 559 and 560:
18% 16% Wages SCorp. Partner. Sol
Page 561 and 562:
Page 563 and 564:
Gruber and Saez 2002 First study to
Page 565 and 566:
Gruber and Saez: Results Find an el
Page 567 and 568:
Imbens et al. 2001: Income Effects
Page 569 and 570:
Taxable Income Literature: Summary
Page 571 and 572:
Prescott 2004 Uses data on hours wo
Page 573 and 574:
Davis and Henrekson 2005 Run regres
Page 575 and 576:
Page 577 and 578:
Optimization Frictions Many frictio
Page 579 and 580:
Page 581 and 582:
Setup Consider a static demand mode
Page 583 and 584:
Optimization Frictions Define agent
Page 585 and 586:
Construction of Choice Set 151 150
Page 587 and 588:
Identification with Optimization Fr
Page 589 and 590:
Identification with Optimization Fr
Page 591 and 592:
Calculation of Bounds on Structural
Page 593 and 594:
) Lower Bound on Structural Elastic
Page 595 and 596:
Application to Taxation and Labor S
Page 597 and 598:
4.0 Bounds on IntensiveMargin Lab
Page 599 and 600:
4.0 3.5 Bounds on IntensiveMargin
Page 601 and 602:
Chetty and Saez 2009: Experimental
Page 603 and 604:
Year 2 Earnings Distributions: 1 De
Page 605 and 606:
Year 2 Wage Earnings Distributions:
Page 607 and 608:
Labor Supply Elasticities: Implicat
Page 609 and 610:
Chetty: Formula for Risk Aversion L
Page 611 and 612:
u c ,u l w 0 u c (w 0 l,l) Case A:
Page 613 and 614:
Chetty 2006: Results Labor supply e
Page 615 and 616:
Outline 1 Motivations for Social In
Page 617 and 618:
Growth of Social Insurance in the U
Page 619 and 620:
Unemployment Benefit Systems in Dev
Page 621 and 622:
Useful Background Reading 1 Institu
Page 623 and 624:
Adverse Selection as a Motivation f
Page 625 and 626:
Rothschild-Stiglitz: Key Assumption
Page 627 and 628:
Rothschild-Stiglitz: Equilibrium De
Page 629 and 630:
Page 631 and 632:
Rothschild-Stiglitz: Second Best So
Page 633 and 634:
Page 635 and 636:
Page 637 and 638:
Page 639 and 640:
Adverse Selection: Empirical Eviden
Page 641 and 642:
Page 643 and 644:
Aggregate Shocks as a Motivation fo
Page 645 and 646:
Unemployment Insurance Start with U
Page 647 and 648:
Replacement Rate Common measure of
Page 649 and 650:
Baily-Chetty model Canonical analys
Page 651 and 652:
Baily-Chetty model: Setup Static mo
Page 653 and 654:
Baily-Chetty model: First Best Prob
Page 655 and 656:
Baily-Chetty model: Second Best Pro
Page 657 and 658:
Two Approaches to Optimal Social In
Page 659 and 660:
Envelope Condition Why can ∂e ∂
Page 661 and 662:
Suffi cient Statistic Approach to K
Page 663 and 664:
Baily-Chetty model: Second Best Sol
Page 665 and 666:
Baily-Chetty Consumption-Based Form
Page 667 and 668:
Empirical Estimates: Duration Elast
Page 669 and 670:
Hazard Models Define hazard rate h
Page 671 and 672:
Meyer 1990 Meyer includes log UI be
Page 673 and 674:
Consumption Smoothing Benefits of U
Page 675 and 676:
Consumption Smoothing Benefits of U
Page 677 and 678:
Calibrating the Model b ∗ Results
Page 679 and 680:
Homeowners’Consumption around Une
Page 681 and 682:
Commitments and Risk Aversion How d
Page 683 and 684:
Commitments Model: Implications for
Page 685 and 686:
Chetty 2008: Moral Hazard vs. Liqui
Page 687 and 688:
Chetty 2008: Job Search Technology
Page 689 and 690:
Chetty 2008: Value Functions Value
Page 691 and 692:
Chetty 2008: Moral Hazard vs. Liqui
Page 693 and 694:
Chetty 2008: Formula for Optimal UI
Page 695 and 696:
Moral Hazard vs. Liquidity: Evidenc
Page 697 and 698:
Figure 3a Effect of UI Benefits on
Page 699 and 700:
Figure 3c Effect of UI Benefits on
Page 701 and 702:
log UI ben 0.527 (0.267) TABLE 2
Page 703 and 704:
Figure 5 Effect of Severance Pay on
Page 705 and 706:
Figure 6b Effect of Severance Pay o
Page 707 and 708:
Chetty 2008: Implications for Optim
Page 709 and 710:
Figure 3 Frequency of Layoffs by Jo
Page 711 and 712:
Figure 4 Selection on Observables M
Page 713 and 714:
TABLE 3a Effects of Severance Pay a
Page 715 and 716:
Shimer and Werning 2007: Reservatio
Page 717 and 718:
Figure 5a Effect of Severance Pay o
Page 719 and 720:
Figure 10b Effect of Severance Pay
Page 721 and 722:
Effect of Extended Benefits on Subs
Page 723 and 724:
Spike at Benefit Exhaustion Most st
Page 725 and 726:
Job Finding vs. Unemployment Exit H
Page 727 and 728:
Effect of Benefit Expiration on Haz
Page 729 and 730:
Experience Rating in Washington, 20
Page 731 and 732:
Feldstein 1978: Empirical Results F
Page 733 and 734:
UI Savings Accounts Alternative to
Page 735 and 736:
Feldstein and Altman 2007 Calculati
Page 737 and 738:
Black, Smith, Berger, and Noel 2003
Page 739 and 740:
Page 741 and 742:
Black, Smith, Berger, and Noel 2003
Page 743 and 744:
Dynamics: Path of UI Benefits Class
Page 745 and 746:
Workers Compensation Insurance agai
Page 747 and 748:
Theory of Workers’Compensation Fo
Page 749 and 750:
Page 751 and 752:
Effects of Benefits on Injuries Pot
Page 753 and 754:
Page 755 and 756:
Effect on Equilibrium Wage Workers
Page 757 and 758:
Disability Insurance See Bound et.
Page 759 and 760:
Two Views on the Rise in DI Trend h
Page 761 and 762:
Theory of Disability Insurance Key
Page 763 and 764:
Empirical Evidence: Bound-Parsons D
Page 765 and 766:
Empirical Evidence: Bound-Parsons D
Page 767 and 768:
Gruber 2000 Exploits differential l
Page 769 and 770:
Page 771 and 772:
Autor and Duggan 2003 Focus on inte
Page 773 and 774:
Page 775 and 776:
Employment Shocks and DI Applicatio
Page 777 and 778:
Employment Shocks and DI Applicatio
Page 779 and 780:
Health Insurance Arrow (1963): semi
Page 781 and 782:
Health Care Spending in OECD Nation
Page 783 and 784:
Americans’Source of Health Insura
Page 785 and 786:
Growing Health Expenditures: Key Fa
Page 787 and 788:
Market Failures and Government Inte
Page 789 and 790:
Measuring Health Before discussing
Page 791 and 792:
Page 793 and 794:
Optimal Govt. Intervention in Healt
Page 795 and 796:
Feldstein 1973 x = non-medical cons
Page 797 and 798:
Feldstein 1973: First Best Solution
Page 799 and 800:
Price of each visit $200 A B S=MC $
Page 801 and 802:
Page 803 and 804:
Page 805 and 806:
Finkelstein 2006 Impact of Medicare
Page 807 and 808:
Ellis and McGuire 1986 Previous ana
Page 809 and 810:
Ellis and McGuire: Compensation Sch
Page 811 and 812:
Ellis and McGuire: Optimal Payment
Page 813 and 814:
Ellis and McGuire: Optimal Payment
Page 815 and 816:
Ellis and McGuire Model: Limitation
Page 817 and 818:
Crowdout of Private Insurance So fa
Page 819 and 820:
Currie and Gruber 1995: Benefits of
Page 821 and 822:
Public Economics Lectures Part 7: P
Page 823 and 824:
Public vs. Private Goods Private go
Page 825 and 826:
Public Good Person 1’s Consumptio
Page 827 and 828:
Public Goods Model: Setup Economy w
Page 829 and 830:
First Best if G is Private To ident
Page 831 and 832:
First Best if G is a Pure Public Go
Page 833 and 834:
Samuelson (1954) Rule Condition for
Page 835 and 836:
Model of Private Provision: Setup P
Page 837 and 838:
Lindahl Equilibrium How to achieve
Page 839 and 840:
Lindahl Equilibria: Key Properties
Page 841 and 842:
Voting Model: Setup Suppose that pu
Page 843 and 844:
Arrow (1951) and Single-Peaked Pref
Page 845 and 846:
Median Voter Theorem With single-pe
Page 847 and 848:
Median Voter Choice: Effi ciency In
Page 849 and 850:
Page 851 and 852:
Optimal Second Best Provision of PG
Page 853 and 854:
Bergstrom, Blume, and Varian (1986)
Page 855 and 856:
Bergstrom-Blume-Varian Model: Crowd
Page 857 and 858:
BBV Model: Additional Results 1 Tot
Page 859 and 860:
Empirical Evidence on Crowd-Out Two
Page 861 and 862:
Page 863 and 864:
Hungerman 2005 Studies crowdout of
Page 865 and 866:
Hungerman 2005 Estimates imply that
Page 867 and 868:
Andreoni and Payne 2003 OLS still y
Page 869 and 870:
Andreoni and Payne 2003 $1000 incre
Page 871 and 872:
Page 873 and 874:
Andreoni 1988 Isaac, McCue, and Plo
Page 875 and 876:
Andreoni 1993 Uses lab experiment t
Page 877 and 878:
Page 879 and 880:
Andreoni 1993 Public good levels ar
Page 881 and 882:
Financing PGs with Distortionary Ta
Page 883 and 884:
PGs with Distortionary Taxes: Setup
Page 885 and 886:
PGs with Distortionary Taxes: 1st B
Page 887 and 888:
PGs with Distortionary Taxes: 2nd B
Page 889 and 890:
Kreiner and Verdelin 2009 Consider
Page 891 and 892:
Subsidies for Charity: Setup Warm-g
Page 893 and 894:
Optimal Subsidies for Charity Resul
Page 895 and 896:
Optimal Subsidies for Charity (Saez
Page 897 and 898:
Empirical Evidence Existing studies
Page 899 and 900:
Externalities: Outline 1 Definition
Page 901 and 902:
Externalities: Main Questions 1 The
Page 903 and 904:
Model of Externalities: Equilibrium
Page 905 and 906:
Model of Externalities: Deadweight
Page 907 and 908:
Remedies for Externalities 1 Coasia
Page 909 and 910:
Coasian Solution: Limitations 1 Cos
Page 911 and 912:
Price Pigouvian Tax SMC=PMC+MD S=PM
Page 913 and 914:
Permits: Cap-and-Trade Cap total am
Page 915 and 916:
Weitzman 1974: Market for Pollution
Page 917 and 918:
Weitzman Model: Policy without Unce
Page 919 and 920:
MB steep, Quantity regulation Publi
Page 921 and 922:
Quantity Regulation Price Regulatio
Page 923 and 924:
MB Flat, Quantity Regulation Public
Page 925 and 926:
Quantity regulation Price Regulatio
Page 927 and 928:
Optimal Second-Best Taxation with E
Page 929 and 930:
Sandmo 1975: Setup Individual maxim
Page 931 and 932:
Sandmo 1975: Additivity Result Main
Page 933 and 934:
Double Dividend Debate Claim: gas t
Page 935 and 936:
Externalities: Empirical Measuremen
Page 937 and 938:
Page 939 and 940:
Page 941 and 942:
Brookshire et al. 1982 Infer willin
Page 943 and 944:
Page 945 and 946:
Chay and Greenstone 2005 Conclusion
Page 947 and 948:
Page 949 and 950:
Page 951 and 952:
Page 953 and 954:
Diamond and Hausman 1994 Describe p
Page 955 and 956:
Becker and Murphy 1988 Show that ad
Page 957 and 958:
Bernheim and Rangel 2004 Model of
show all

Public Economics Lectures Part 1: Introduction

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?