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Cross-dynastic intergenerational altruism 跨代代际利他主义
IF 5.5 3区 经济学 Q1 BUSINESS Pub Date : 2024-09-07 DOI: 10.1016/j.jeem.2024.103059
Frikk Nesje

Does saving behavior reveal socially relevant intertemporal preferences? People concerned about the next generation as such might assign welfare weights on other dynasties. These concerns are captured in a model of saving by decomposing the present generation’s preference for the next into its dynastic and cross-dynastic components. With such preferences, saving for one’s descendants benefits present members of other dynasties if they also care cross-dynastically. These preference externalities imply that socially relevant intertemporal preferences cannot be inferred from saving behavior and that utility discount rates revealed by saving behavior should be lowered. The external effect of present saving also decreases over time, implying that intertemporal preferences inferred from saving behavior are time-inconsistent.

储蓄行为是否揭示了与社会相关的时际偏好?关心下一代的人可能会对其他朝代赋予福利权重。通过将当代人对下一代的偏好分解为朝代和跨朝代部分,我们可以在储蓄模型中捕捉到这些关注。在这种偏好下,如果其他朝代的现任成员也有跨朝代的偏好,那么为自己的后代储蓄就会使他们受益。这些偏好的外部性意味着不能从储蓄行为中推断出与社会相关的时际偏好,储蓄行为所揭示的效用贴现率应该降低。当前储蓄的外部效应也会随着时间的推移而降低,这意味着从储蓄行为中推断出的跨时偏好与时间不一致。
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引用次数: 0
Paying income tax after a natural disaster 自然灾害后缴纳所得税
IF 5.5 3区 经济学 Q1 BUSINESS Pub Date : 2024-09-05 DOI: 10.1016/j.jeem.2024.103044
Merve Kucuk , Mehmet Ulubasoglu

We investigate the effects of a climatic shock on individuals’ tax deduction and tax payable patterns, alongside their income dynamics. Using individual-level annual tax return data and exploiting the 2010–2011 Queensland Floods in Australia as a natural experiment, we find that the floods affect different income groups differently. They also lead to persistent higher tax deductions for high-income taxpayers. For the population at large, we detect spikes in certain tax deduction items that lasted longer than the income shock. Overall, our findings uncover discernible changes in tax deduction patterns following floods.

我们研究了气候冲击对个人减税和纳税模式的影响,以及他们的收入动态。通过使用个人层面的年度纳税申报数据,并利用 2010-2011 年澳大利亚昆士兰洪灾作为自然实验,我们发现洪灾对不同收入群体的影响是不同的。洪灾还导致高收入纳税人的减税额度持续增加。就总体而言,我们发现某些减税项目的峰值比收入冲击持续的时间更长。总体而言,我们的研究结果揭示了洪灾后减税模式的明显变化。
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引用次数: 0
Barrett's paradox of cooperation: A full analytical proof 30 years after 巴雷特合作悖论:30 年后的全面分析证明
IF 5.5 3区 经济学 Q1 BUSINESS Pub Date : 2024-08-31 DOI: 10.1016/j.jeem.2024.103045
Michael Finus , Francesco Furini , Anna Viktoria Rohrer
In his seminal paper, Barrett (1994) argues that international environmental agreements (IEAs) are typically not successful, which he coined "the paradox of cooperation". If the potential gains from full cooperation would be large, self-enforcing IEAs have low participation and, therefore, cannot achieve much, or, if the potential gains are small, agreements are not important, even though IEAs may enjoy large participation. This message has been reiterated by several subsequent papers. Even though these papers explain the driving forces of the paradox, the analysis of membership in stable agreements and the actual and potential gains from cooperation are still mainly based on simulations. In this paper, we provide a full analytical characterization of all items on which the paradox of cooperation is based.
巴雷特(Barrett,1994 年)在其开创性论文中指出,国际环境协定(IEAs)通常并不成功,他将其称为 "合作悖论"。如果全面合作的潜在收益很大,那么自我强化的国际环境协定的参与度就很低,因此无法取得很大成就;或者,如果潜在收益很小,那么即使国际环境协定的参与度很高,协定也并不重要。随后的几篇论文都重申了这一观点。尽管这些论文解释了悖论的驱动力,但对稳定协议成员资格以及合作的实际和潜在收益的分析仍主要基于模拟。在本文中,我们对合作悖论所依据的所有项目进行了全面的分析。
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引用次数: 0
Correcting misperceptions about trends and norms to address weak collective action — Experimental evidence from a recycling program 纠正对趋势和规范的误解,解决集体行动不力的问题--来自回收计划的实验证据
IF 5.5 3区 经济学 Q1 BUSINESS Pub Date : 2024-08-30 DOI: 10.1016/j.jeem.2024.103046
Hanna Fuhrmann-Riebel , Ben D’Exelle , Kristian López Vargas , Sebastian Tonke , Arjan Verschoor

Finding ways to encourage collective action in contexts where only a minority adopts the desired behavior is central to solving many of today’s global environmental problems. We study how correcting people’s beliefs about social norms and behavioral trends encourages collective action in a setting where the desired behavior is not yet prevalent. In a field experiment, we test whether low sign-up rates for a recycling program in urban Peru can be increased by providing information (1) that most people regard participation in the program as important, i.e., on the “injunctive norm”, (2) on an increasing recent trend in sign-up rates. We find that the effectiveness of the treatments depends on people’s prior beliefs: Correcting inaccurate beliefs increases sign-up decisions significantly among people who either substantially underestimate the injunctive norm or who underestimate the positive trend. As this sub-group of people is in the minority in our set-up, we do not observe statistically significant average treatment effects. We further find that the effects of the treatments increase in the level of underestimation. Our evidence demonstrates that belief updating can be used effectively to encourage collective action where it is weak as long as a meaningful number of people underestimates the relevant trends and norms.

在只有少数人采取理想行为的情况下,找到鼓励集体行动的方法是解决当今许多全球环境问题的核心。我们研究了在理想行为尚未普及的情况下,纠正人们对社会规范和行为趋势的看法如何鼓励集体行动。在一个现场实验中,我们测试了秘鲁城市回收计划的低报名率是否可以通过提供以下信息来提高:(1)大多数人认为参与该计划很重要,即 "强制规范";(2)报名率最近呈上升趋势。我们发现,治疗的效果取决于人们先前的信念:对那些严重低估禁令标准或低估积极趋势的人来说,纠正不准确的信念会显著提高他们的签约决定。由于这部分人在我们的设置中占少数,我们没有观察到统计意义上显著的平均治疗效果。我们还发现,随着低估程度的增加,治疗效果也会增加。我们的证据表明,只要有相当数量的人低估了相关趋势和规范,就可以有效地利用信念更新来鼓励集体行动。
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引用次数: 0
Environmental regulation and intermediate imports: Firm-product-level evidence 环境监管与中间产品进口:企业产品层面的证据
IF 5.5 3区 经济学 Q1 BUSINESS Pub Date : 2024-08-22 DOI: 10.1016/j.jeem.2024.103043
Chao Han , Chongyu Li , Jiansuo Pei , Chunhua Wang

This study examines the effects of domestic environmental regulations on import activity. Using a panel of firm-product-level data and variations in regulatory stringency across products established by China’s Eleventh Five-Year Plan for Environmental Protection (covering 2006–2010), it reveals that tougher regulations on emission-intensive industries at home led to increases in downstream manufacturers’ imports of emission-intensive intermediate inputs. Specifically, a 1% increase in sulfur dioxide emission intensity resulted in a 0.026% increase in intermediate imports after the implementation of the regulation. A back-of-the-envelope calculation suggests that, although the regulation increased emissions in source countries, it reduced global emissions of sulfur oxides and carbon dioxide. This is because the increases in imports caused by the regulation mainly came from countries with lower emission intensity than China. The regulation did not disproportionately increase imports from or emissions in developing countries.

本研究探讨了国内环境法规对进口活动的影响。通过使用企业-产品层面的面板数据以及《中国环境保护 "十一五 "规划》(2006-2010 年)中规定的各产品监管严格程度的变化,研究发现,国内对排放密集型产业更严格的监管导致下游制造商对排放密集型中间投入品的进口增加。具体来说,二氧化硫排放强度每增加 1%,法规实施后的中间品进口量就会增加 0.026%。回溯计算表明,虽然该法规增加了来源国的排放量,但却减少了全球的氧化硫和二氧化碳排放量。这是因为法规导致的进口增加主要来自排放强度低于中国的国家。该条例并没有不成比例地增加发展中国家的进口或排放。
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引用次数: 0
Is the clean energy transition making fixed-rate electricity tariffs regressive? 清洁能源转型是否使固定费率电价出现倒退?
IF 5.5 3区 经济学 Q1 BUSINESS Pub Date : 2024-07-24 DOI: 10.1016/j.jeem.2024.103040
Gordon W. Leslie , Armin Pourkhanali , Guillaume Roger

Wholesale electricity prices can rapidly change in real-time, yet households usually face fixed-price electricity tariffs. In markets with large amounts of solar electricity generation, households that predominantly import energy in the daytime when wholesale prices are low implicitly cross-subsidize households with energy use that is more weighted to the higher-priced evening. We map substation data on electricity use to demographic data, to identify the household characteristics associated with this cross-subsidization in a high-solar setting. We find that households in areas with low house prices and high levels of renters are the net funders of this implicit subsidy. These households currently have the lowest average energy cost for retailers to service, and could be the greatest immediate beneficiaries if real-time retail tariffs are made available, before accounting for price-responsiveness. Finally, we present evidence that cross-subsidy magnitudes have grown significantly in recent years, coincident with rapid solar generator penetration.

电力批发价格可能实时快速变化,但家庭通常面临固定价格的电费。在有大量太阳能发电的市场中,主要在批发价格较低的白天进口能源的家庭,会隐性地交叉补贴那些更偏重于在价格较高的晚上使用能源的家庭。我们将变电站的用电数据与人口数据进行映射,以确定在高太阳能环境下与这种交叉补贴相关的家庭特征。我们发现,房价低、租房者多的地区的家庭是这种隐性补贴的净资助者。目前,零售商为这些家庭提供服务的平均能源成本最低,如果提供实时零售电价,在考虑价格反应性之前,这些家庭可能是最大的直接受益者。最后,我们提出的证据表明,近年来随着太阳能发电机的快速普及,交叉补贴的幅度也在显著增加。
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引用次数: 0
Pipeline incidents and property values 管道事故和财产价值
IF 5.5 3区 经济学 Q1 BUSINESS Pub Date : 2024-07-23 DOI: 10.1016/j.jeem.2024.103041
Nieyan Cheng , Minghao Li , Pengfei Liu , Qianfeng Luo , Chuan Tang , Wendong Zhang

The rapid expansion of pipelines during the U.S. shale oil and gas boom drew attention to the economic consequences of pipeline incidents. This study investigates the impacts of 426 gas distribution pipeline incidents on property values in the United States between 2010 and 2020. We find that only incidents that are both severe (involving explosion, ignition, or fatalities) and occurred on above-ground pipelines, which we define as high-profile incidents, have adverse effects on nearby property values, while other incidents have no measurable housing price effect. A difference-in-differences analysis finds that high-profile incidents significantly decrease property values within 1000 m by 8.2%, and the negative impact can persist for about eight years on average. Furthermore, we find a drop in transaction volume that lasts a short period after the incidents, suggesting an initial demand-side response. In contrast to the strong effects of pipeline incidents, we do not find statistically significant price effects from pipeline installation. We also demonstrate that there is substantial heterogeneity by the type of incident and that results based on studies of individual incidents should be generalized with caution.

在美国页岩油气繁荣时期,管道的迅速扩张引起了人们对管道事故经济后果的关注。本研究调查了 2010 年至 2020 年间美国 426 起输气管道事故对财产价值的影响。我们发现,只有既严重(涉及爆炸、着火或死亡)又发生在地面管道上的事故(我们将其定义为高知名度事故)才会对附近的房产价值产生不利影响,而其他事故对房价没有可衡量的影响。差异分析发现,高调事件会使 1000 米范围内的房产价值大幅下降 8.2%,这种负面影响平均会持续 8 年左右。此外,我们还发现交易量的下降在事件发生后持续了很短的时间,这表明最初的需求方反应。与管道事故的强烈影响形成对比的是,我们没有发现管道安装在统计上有显著的价格影响。我们还证明,不同类型的事故存在很大的异质性,因此基于单个事故的研究结果应谨慎推广。
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引用次数: 0
Social cost of lifestyle adaptation: Air pollution and outdoor physical exercise 适应生活方式的社会成本:空气污染与户外体育锻炼
IF 5.5 3区 经济学 Q1 BUSINESS Pub Date : 2024-07-20 DOI: 10.1016/j.jeem.2024.103042
Yichun Fan

The social cost of environmental hazards depends on the well-being impacts of both exposure and adaptation. While the monetary expenditure of adaptation is increasingly considered, little research assesses the social cost associated with non-market lifestyle adaptation. Based on a longitudinal database of 27 million exercise records of 243,395 Chinese residents, I present evidence that urbanites limit their outdoor physical exercise in response to air pollution. Employing imported pollution from upwind cities as instrumental variable, I estimate that heavy air pollution leads to a 28% reduction in urbanites’ outdoor exercise likelihood. Information plays a crucial role as behavioral moderator: (i) Outdoor exercise rate plummets at the “heavy pollution” threshold and during the issuance of alerts; (ii) Residents in well-educated neighborhoods exhibit more than double the responsiveness to air pollution and alerts due to their greater awareness of pollution-related health risks. I discuss the health costs associated with this adaptation behavior and policy implications.

环境危害的社会成本取决于暴露和适应对福祉的影响。尽管人们越来越多地考虑适应环境的货币支出,但很少有研究评估与适应非市场生活方式相关的社会成本。基于一个包含 243,395 名中国居民 2,700 万条运动记录的纵向数据库,我提出了城市居民因空气污染而限制户外体育锻炼的证据。利用上风城市的输入性污染作为工具变量,我估计严重的空气污染会导致城市居民户外锻炼的可能性降低 28%。作为行为调节因素,信息起着至关重要的作用:(i)在 "重度污染 "阈值和警报发布期间,户外锻炼率急剧下降;(ii)由于受过良好教育的居民对污染相关的健康风险有更高的认识,因此他们对空气污染和警报的反应能力是普通居民的两倍多。我将讨论与这种适应行为相关的健康成本和政策影响。
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引用次数: 0
Impact of environmental regulation on M&As in the manufacturing sector 环境法规对制造业并购的影响
IF 5.5 3区 经济学 Q1 BUSINESS Pub Date : 2024-07-10 DOI: 10.1016/j.jeem.2024.103038
Federico Carril-Caccia , Juliette Milgram Baleix

We test the influence of environmental regulation (ER) on the location decision of cross-border Mergers and Acquisitions (M&As) for a large sample of countries, sectors, and years using a structural gravity model. Unlike other studies, our results confirm the pollution haven hypothesis according to which more stringent ER makes countries less attractive to foreign investors planning to invest through M&As, compared with domestic investors. Policies that set quantitative limits on emissions have similar discouraging effects on cross-border investment to taxes on emissions. We find no evidence that the impact could be stronger in dirty sectors than in clean sectors. The impact of ER differs depending on country type according to their level of development, reflecting the fact that investments in developed countries and BRICS respond to different motivations. In emerging countries, lax ER could attract significantly more inward M&As. In developed countries, ER has a less discouraging effect.

我们使用结构引力模型,对大量国家、行业和年份样本进行了环境监管(ER)对跨国并购(M&As)选址决策的影响测试。与其他研究不同的是,我们的研究结果证实了 "污染天堂假说",根据该假说,与国内投资者相比,更严格的环保政策会降低国家对计划通过并购进行投资的外国投资者的吸引力。设定排放数量限制的政策对跨境投资的抑制作用与排放税相似。我们没有发现证据表明对肮脏行业的影响比对清洁行业的影响更大。不同国家的发展水平不同,排放权的影响也不同,这反映了发达国家和金砖国家的投资动机不同。在新兴国家,宽松的企业减排可以吸引更多的外来投资。在发达国家,企业所得税的抑制作用较小。
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引用次数: 0
Wildfire smoke and private provision of public air-quality monitoring 野火烟雾和私人提供的公共空气质量监测
IF 5.5 3区 经济学 Q1 BUSINESS Pub Date : 2024-07-06 DOI: 10.1016/j.jeem.2024.103036
Michael Coury , Liam Falconer , Andrea La Nauze

Governments monitor air quality for regulatory purposes and, more recently, to provide information so individuals can act to lower their exposure to air pollution. Recent developments in low-cost technologies have also led to private adoption of air-quality monitors that produce publicly accessible air-quality readings. We study the adoption of these private air-quality monitors. We find that shocks to air pollution from wildfire result in substantial adoption. We also find that additional private monitors are concentrated in white, wealthy, and politically liberal neighborhoods. In contrast, there is no evidence that pollution shocks lead to higher adoption in neighborhoods with lower pre-existing access to monitors, higher long-run pollution, or those with more vulnerable populations. Private provision increases inequality in the availability of localized air-quality information.

各国政府出于监管目的对空气质量进行监测,最近则是为了提供信息,以便个人能够采取行动降低空气污染暴露程度。最近,低成本技术的发展也促使私人采用空气质量监测仪,向公众提供空气质量读数。我们研究了这些私人空气质量监测器的采用情况。我们发现,野火对空气污染的冲击导致大量采用。我们还发现,新增的私人监测器主要集中在白人、富人和政治自由的社区。与此相反,没有证据表明污染冲击会导致监测器使用率较低的社区、长期污染较严重的社区或弱势群体较多的社区采用更多监测器。私人提供增加了本地化空气质量信息可用性的不平等。
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引用次数: 0
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Journal of Environmental Economics and Management
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