{"title":"A REGRESSION-BASED SHAPLEY DECOMPOSITION FOR INEQUALITY MEASURES","authors":"Fourrey","doi":"10.2307/48718079","DOIUrl":"https://doi.org/10.2307/48718079","url":null,"abstract":"","PeriodicalId":37191,"journal":{"name":"Annals of Economics and Statistics","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69499527","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"LONG-TERM EFFECTS OF PRIMARY EDUCATION EXPANSION ON EDUCATIONAL ACHIEVEMENT","authors":"Moshoeshoe","doi":"10.2307/48718078","DOIUrl":"https://doi.org/10.2307/48718078","url":null,"abstract":"","PeriodicalId":37191,"journal":{"name":"Annals of Economics and Statistics","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69499458","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"ASSESSING DISCRIMINATION IN ACCESS TO HIGHER EDUCATION","authors":"None Chareyron, None Erb, None L’Horty","doi":"10.2307/48744152","DOIUrl":"https://doi.org/10.2307/48744152","url":null,"abstract":"","PeriodicalId":37191,"journal":{"name":"Annals of Economics and Statistics","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135959076","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper derives the optimal money injection at the Zero Lower Bound (ZLB), in a tractable model where households hold heterogeneous money holdings due to explicit financial frictions, such as limited participation or temporary binding credit constraints. This framework is motivated by recent empirical findings. A deleveraging shock generates deflationary pressure and a fall in the real interest rate, pushing the economy to the ZLB. The main result is that open-market operations can stabilize the economy at the ZLB whereas lump-sum money transfers cannot. Moreover, an optimal money injection does not avoid the economy being at the ZLB.
{"title":"OPTIMAL MONETARY POLICY IN A LIQUIDITY TRAP WITH HETEROGENEOUS AGENTS","authors":"X. Ragot","doi":"10.2307/48718081","DOIUrl":"https://doi.org/10.2307/48718081","url":null,"abstract":"This paper derives the optimal money injection at the Zero Lower Bound (ZLB), in a tractable model where households hold heterogeneous money holdings due to explicit financial frictions, such as limited participation or temporary binding credit constraints. This framework is motivated by recent empirical findings. A deleveraging shock generates deflationary pressure and a fall in the real interest rate, pushing the economy to the ZLB. The main result is that open-market operations can stabilize the economy at the ZLB whereas lump-sum money transfers cannot. Moreover, an optimal money injection does not avoid the economy being at the ZLB.","PeriodicalId":37191,"journal":{"name":"Annals of Economics and Statistics","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69499920","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"SKEWED BINOMIAL MARKOV CHAINS","authors":"Lkhagvasuren","doi":"10.2307/48731470","DOIUrl":"https://doi.org/10.2307/48731470","url":null,"abstract":"","PeriodicalId":37191,"journal":{"name":"Annals of Economics and Statistics","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69503384","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Front Matter","authors":"","doi":"10.2307/48744148","DOIUrl":"https://doi.org/10.2307/48744148","url":null,"abstract":"","PeriodicalId":37191,"journal":{"name":"Annals of Economics and Statistics","volume":"153 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135959085","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"OPTIMAL REDISTRIBUTIVE INFLATION","authors":"Nuño, Thomas","doi":"10.2307/48674138","DOIUrl":"https://doi.org/10.2307/48674138","url":null,"abstract":"","PeriodicalId":37191,"journal":{"name":"Annals of Economics and Statistics","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69481640","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"REFINING THE TRUNCATION METHOD TO SOLVE HETEROGENEOUS-AGENT MODELS","authors":"Le Grand, Ragot","doi":"10.2307/48674139","DOIUrl":"https://doi.org/10.2307/48674139","url":null,"abstract":"","PeriodicalId":37191,"journal":{"name":"Annals of Economics and Statistics","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69481650","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article quantifies the effects of increasing global geopolitical uncertainty on the size of migration flows to Western Europe. Uncertainty is measured by the number of victims of terrorist attacks worldwide. The effect on migration flows is quantified through the estimation of vector autoregressive models on a panel of 15 European countries and on France, thanks to an original migration dataset. The estimations suggest that the flows of permanent migrants are generally reduced by global terrorism. In particular, the increase in uncertainty that followed the attacks of September 11, 2001, caused an 8% drop in flows to Europe and a 19% drop in flows to France. The effect of global uncertainty on the flow of asylum seekers depends on the country: on average in Europe, asylum applications increase with terrorism, but for France, they decrease with terrorism. This difference can be explained by the geographical position and border control policies of France.
{"title":"GLOBAL UNCERTAINTY AND INTERNATIONAL MIGRATION TO WESTERN EUROPE","authors":"d’Albis, Boubtane, Coulibaly","doi":"10.2307/48706308","DOIUrl":"https://doi.org/10.2307/48706308","url":null,"abstract":"This article quantifies the effects of increasing global geopolitical uncertainty on the size of migration flows to Western Europe. Uncertainty is measured by the number of victims of terrorist attacks worldwide. The effect on migration flows is quantified through the estimation of vector autoregressive models on a panel of 15 European countries and on France, thanks to an original migration dataset. The estimations suggest that the flows of permanent migrants are generally reduced by global terrorism. In particular, the increase in uncertainty that followed the attacks of September 11, 2001, caused an 8% drop in flows to Europe and a 19% drop in flows to France. The effect of global uncertainty on the flow of asylum seekers depends on the country: on average in Europe, asylum applications increase with terrorism, but for France, they decrease with terrorism. This difference can be explained by the geographical position and border control policies of France.","PeriodicalId":37191,"journal":{"name":"Annals of Economics and Statistics","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69495191","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
F. R. D. Ufourt, L. I. K. Erdelhué, O. C. P. Iétri, J. Benhabib, Antoine Devulder, A. Eyquem, Julien Matheron, C. Poilly, Jean‐Christophe Poutineau, Ludwig Straub, Fabien Tripier
We revisit the canonical policy of eliminating capital taxation by increasing labor taxation in a endogenous-labor, heterogeneous-agent model with income and wealth heterogeneity, when the government is subject to a strict (per-period) balanced-budget constraint. By contrast with its non-budget neutral equivalent - associated with a constant tax rate over time and a permanent increase in the level of public debt - we show that the obtained endogenous path for the labor tax rate is sharply increasing in the initial period and decreasing over time. The policy then generates a deeper recession in the short-run and a greater expansion in the long-run, as well as a smaller decline in wealth inequality associated with a reduced incentive to save for precautionary motives. Overall, the policy still generates significant losses in average welfare.
{"title":"BUDGET-NEUTRAL CAPITAL TAX CUTS","authors":"F. R. D. Ufourt, L. I. K. Erdelhué, O. C. P. Iétri, J. Benhabib, Antoine Devulder, A. Eyquem, Julien Matheron, C. Poilly, Jean‐Christophe Poutineau, Ludwig Straub, Fabien Tripier","doi":"10.2307/48674140","DOIUrl":"https://doi.org/10.2307/48674140","url":null,"abstract":"We revisit the canonical policy of eliminating capital taxation by increasing labor taxation in a endogenous-labor, heterogeneous-agent model with income and wealth heterogeneity, when the government is subject to a strict (per-period) balanced-budget constraint. By contrast with its non-budget neutral equivalent - associated with a constant tax rate over time and a permanent increase in the level of public debt - we show that the obtained endogenous path for the labor tax rate is sharply increasing in the initial period and decreasing over time. The policy then generates a deeper recession in the short-run and a greater expansion in the long-run, as well as a smaller decline in wealth inequality associated with a reduced incentive to save for precautionary motives. Overall, the policy still generates significant losses in average welfare.","PeriodicalId":37191,"journal":{"name":"Annals of Economics and Statistics","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69481656","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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