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Air pollution and workplace accidents: Evidence and implications 空气污染和工作场所事故:证据和影响
IF 3.4 1区 经济学 Q1 ECONOMICS Pub Date : 2025-12-01 DOI: 10.1016/j.jpubeco.2025.105539
Alessandro Palma , Domenico Depalo , Gabriele Curci
We estimate the impact of air pollution on workplace accidents and permanent disabilities in Italy, a setting characterized by stringent air pollution and work safety regulations. Using daily administrative data between 2014 and 2018, we leverage winter heating regulations and atmospheric dynamics to address the endogeneity of air pollution generation and exposure. We find an elasticity of accidents with respect to particulate matter (PM10) of 0.12 and estimate no effect of pollution on disabilities. Using age groups as a proxy for work experience, we find larger impacts for less experienced workers. Increasing PM10 by 10 µ g/m3 would raise the average cost of an accident by 78 euros (7.3 %); employers bear 60 % of this cost, and public insurers bear 40 %.
我们估计了意大利空气污染对工作场所事故和永久残疾的影响,意大利的环境以严格的空气污染和工作安全法规为特征。利用2014年至2018年的日常行政数据,我们利用冬季供暖法规和大气动力学来解决空气污染产生和暴露的内生性问题。我们发现事故对颗粒物(PM10)的弹性为0.12,估计污染对残疾没有影响。使用年龄分组作为工作经验的代表,我们发现经验不足的员工受到的影响更大。PM10每立方米增加10微克,事故的平均成本将增加78欧元(7.3%);雇主承担60%的费用,公共保险公司承担40%。
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引用次数: 0
Mortgages, Subways and Automobiles 抵押贷款,地铁和汽车
IF 3.4 1区 经济学 Q1 ECONOMICS Pub Date : 2025-11-21 DOI: 10.1016/j.jpubeco.2025.105522
Sumit Agarwal , Yeow Hwee Chua , Pulak Ghosh , Soumya Kanti Ghosh , Liuyang She
We examine how sustainable infrastructure investments affect household financial outcomes by studying the impact of subway expansions on mortgage repayment behavior in Delhi, India. Using administrative data from one of India’s largest mortgage lenders, we find that households in postal codes with newly opened stations experience a 4.42% decline in mortgage delinquency rate and a 1.38% increase in prepayment rate. Evidence from vehicle registration records suggests that these improvements are driven by reduced automobile reliance, with vehicle spending falling by 6.52%. The effects are most pronounced among financially constrained households, who cut back on low-quality vehicle purchases and exhibit the greatest gains in repayment performance.
我们通过研究印度德里地铁扩建对抵押贷款偿还行为的影响,来检验可持续基础设施投资如何影响家庭财务结果。利用印度最大的抵押贷款机构之一的行政数据,我们发现邮政编码新开设车站的家庭抵押贷款拖欠率下降了4.42%,提前还款率上升了1.38%。车辆登记记录的证据表明,这些改善是由汽车依赖程度的降低推动的,车辆支出下降了6.52%。这种影响在财政拮据的家庭中最为明显,这些家庭减少了购买劣质汽车的数量,在还款方面表现出最大的收益。
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引用次数: 0
Tax policy and business entry 税收政策和业务进入
IF 3.4 1区 经济学 Q1 ECONOMICS Pub Date : 2025-11-20 DOI: 10.1016/j.jpubeco.2025.105537
Ian Sapollnik , Dustin Swonder
This paper measures the effects of state corporate and personal income tax reforms on business entry using an event study research design. We focus on reforms that do not coincide with federal tax changes, are preceded and followed by stable tax policy, and substantially change tax burdens. Corporate tax reforms cause meaningful changes in business entry: we measure a 5-year elasticity of 2.7 with respect to the net-of-tax rate. This is driven by large effects of tax cuts. Corporate tax cuts also reduce the predicted growth potential of entrants. We do not find strong evidence of cross-border spillovers, and find no evidence that personal income tax reforms affect business entry.
本文采用事件研究研究设计来衡量国家公司税和个人所得税改革对企业进入的影响。我们将重点关注那些不与联邦税收变化同时进行的改革,这些改革在之前和之后都有稳定的税收政策,并大幅改变税收负担。公司税改革在企业分录方面造成了有意义的变化:我们衡量净税率的5年弹性为2.7。这是由减税的巨大影响推动的。企业减税也降低了新进入者的预期增长潜力。我们没有发现跨境溢出效应的有力证据,也没有发现个人所得税改革影响企业进入的证据。
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引用次数: 0
How substitutable are the classical and radical right? 古典右派和激进右派的可替代性如何?
IF 3.4 1区 经济学 Q1 ECONOMICS Pub Date : 2025-11-19 DOI: 10.1016/j.jpubeco.2025.105521
Jesús Fernández-Villaverde , Carlos Sanz
Over the last two decades, a new generation of right-wing parties and leaders has emerged worldwide. A central question is how substitutable voters perceive these parties to be relative to the classical right. We address this question using a quasi-natural experiment from Spain’s 2023 general election. Due to a last-minute candidate withdrawal, the radical right (Vox) could not run in one constituency. This unexpected event, unrelated to economic or ideological fundamentals, allows us to estimate the effects of radical right parties on electoral outcomes. Using a synthetic difference-in-differences design, we find that the classical right captured 82.9 % of the radical right vote. The radical right’s absence also slightly increased the vote share for left-wing parties and nearly doubled protest voting. These effects are stronger in high-unemployment areas, suggesting that the classical and radical right are less likely to be viewed as substitutes there. Additional analyses using survey data corroborate our findings.
在过去的二十年里,新一代右翼政党和领导人在世界范围内出现。一个核心问题是,可替代选民如何看待这些政党与传统右翼的关系。我们用西班牙2023年大选的准自然实验来解决这个问题。由于候选人在最后一刻退出,激进右翼政党(Vox)无法在一个选区参选。这一与经济或意识形态基础无关的意外事件,使我们能够估计激进右翼政党对选举结果的影响。使用综合差异设计,我们发现古典右派获得了激进右派82.9%的选票。激进右翼的缺席也略微增加了左翼政党的选票份额,抗议投票几乎翻了一番。这些影响在高失业率地区更为强烈,这表明在这些地区,传统右翼和激进右翼不太可能被视为替代品。使用调查数据的其他分析证实了我们的发现。
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引用次数: 0
Do gender board quotas matter for working mothers? Evidence from state-owned firms in Italy 董事会性别比例对职场母亲有影响吗?来自意大利国有企业的证据
IF 3.4 1区 经济学 Q1 ECONOMICS Pub Date : 2025-11-19 DOI: 10.1016/j.jpubeco.2025.105520
Agata Maida , Andrea Weber
In developed countries, the absence of family friendly workplace policies is seen as an important driver of low fertility rates. In this paper we examine whether the introduction of gender quota on boards of directors indirectly lead to an increase in fertility and improvements of careers of young mothers working in companies subject to the quota. We exploit the introduction of an Italian law mandating a strict gender quota on the boards of state-owned enterprises (SOEs) in 2013 and leverage matched administrative data on firms and employees from 2008 to 2019. Using a triple-difference-in-differences design, we show that the law substantially increased female board representation. But we find no significant effects on fertility proxied by mandatory maternity leaves, post-childbirth retention, parental leave uptake, or wage penalties following maternity. Overall, the results suggest that while gender quotas successfully diversify leadership, they do not, in isolation, transform workplace practices or mitigate structural disadvantages faced by working mothers.
在发达国家,缺乏有利于家庭的工作场所政策被视为低生育率的一个重要驱动因素。在本文中,我们研究了在董事会中引入性别配额是否间接导致在受配额限制的公司工作的年轻母亲的生育率增加和职业改善。我们利用意大利2013年出台的一项法律,要求国有企业董事会严格实行性别配额,并利用2008年至2019年企业和员工的相关行政数据。使用三差中差设计,我们表明法律大大增加了女性董事会代表。但我们发现,强制性产假、产后保留、育儿假的使用或产假后的工资处罚对生育率没有显著影响。总体而言,结果表明,虽然性别配额成功地使领导层多样化,但单独来看,它们并没有改变工作场所的做法,也没有减轻职业母亲面临的结构性劣势。
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引用次数: 0
Regulating quasi-legal markets: Evidence from pain management clinic laws 规范准合法市场:来自疼痛管理诊所法律的证据
IF 3.4 1区 经济学 Q1 ECONOMICS Pub Date : 2025-11-18 DOI: 10.1016/j.jpubeco.2025.105515
Yuji Mizushima , David Powell , Rahi Abouk , Cheryl Damberg
The opioid crisis has often been fueled by its simultaneous interaction with both medical and illicit markets, including “pill mills” that distribute legal substances in inappropriate and quasi-legal ways. Pain management clinic laws (PMCLs) aim to address this property by enforcing stricter regulatory licensing requirements and regulatory oversight on opioid prescribing establishments. Using a difference-in-differences framework and Medicare claims data, we find that PMCLs reduce problematic opioid prescribing and doctor shopping. Drawing on transaction-level information on opioid shipments, we estimate that PMCLs lead to strikingly large reductions in the volume of opioids dispensed directly by practitioners to patients. Studying mortality data, we estimate reductions in overdose death rates involving prescription opioids, with little evidence of substitution to illicit opioid markets. As PMCLs have not been adopted in most states, our results suggest they warrant greater attention from policymakers, even amid the declining role of prescription opioids in the annual death toll of the opioid crisis.
阿片类药物危机往往是由于它与医疗市场和非法市场同时相互作用而加剧的,包括以不适当和准合法的方式分销合法物质的“制药厂”。疼痛管理诊所法(PMCLs)旨在通过对阿片类药物处方机构实施更严格的监管许可要求和监管监督来解决这一问题。使用差异中的差异框架和医疗保险索赔数据,我们发现pmcl减少了有问题的阿片类药物处方和医生购物。根据阿片类药物运输的交易级信息,我们估计pmcl导致从业者直接分配给患者的阿片类药物数量显著减少。通过研究死亡率数据,我们估计处方阿片类药物的过量死亡率有所下降,几乎没有证据表明非法阿片类药物市场出现了替代。由于大多数州尚未采用pmcl,我们的研究结果表明,即使在处方阿片类药物在阿片类药物危机的年度死亡人数中作用下降的情况下,它们也值得政策制定者给予更多关注。
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引用次数: 0
The impact of unexpected delays in periodic payments on consumption 定期付款的意外延迟对消费的影响
IF 3.4 1区 经济学 Q1 ECONOMICS Pub Date : 2025-11-17 DOI: 10.1016/j.jpubeco.2025.105523
Michael Gelman , Zachary Orlando , Dhiren Patki
We study how unexpected delays in periodic payments affect spending behavior. Our empirical approach uses transaction-level data on income and spending and exploits quasi-random delays in the receipt of unemployment insurance (UI) benefits. Spending drops by about half of the loss in income that occurs while individuals wait for UI benefits, revealing the value of periodic payments for liquidity-constrained individuals. Once delayed payments are received as lump sums, individuals reallocate spending toward less commonly purchased big-ticket categories that are dominated by durables.
我们研究周期性付款的意外延迟如何影响消费行为。我们的实证方法使用关于收入和支出的交易级数据,并利用失业保险(UI)福利的准随机延迟。在个人等待失业保险福利期间,支出下降了大约一半的收入损失,这揭示了定期支付对流动性受限的个人的价值。一旦一次性收到延迟付款,个人就会将支出重新分配到以耐用品为主的不太常见的大额消费类别上。
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引用次数: 0
Accounting for the profits of multinational enterprises: Double counting and misattribution of foreign affiliate income 跨国企业利润的会计处理:国外关联公司收入的重复计算和错误归属
IF 3.4 1区 经济学 Q1 ECONOMICS Pub Date : 2025-11-11 DOI: 10.1016/j.jpubeco.2025.105512
Jennifer Blouin , Leslie Robinson
Given the perception that multinational enterprises (MNEs) engage in extensive tax planning, ending base erosion and profit shifting activity is a priority on many national agendas. Yet the actual level of such activity is subject to debate. In this paper, we provide guidance on how to accurately measure country-level MNE income using the datasets commonly used in research on profit shifting. This issue is of global concern, as any economic data that reports profits by jurisdiction must use an established accounting method to report the activity of the MNEs’ indirectly owned foreign affiliates. We explain how the accounting method could lead a researcher to double count income or to attribute it to the wrong jurisdiction. Such errors not only affect measures of the MNEs’ country-level profits, but also bias researchers’ estimates of the sensitivity of income to taxes. Although we focus our analysis on data from the U.S. Bureau of Economic Analysis (BEA), we illustrate the consequences of such mismeasurement across a variety of studies relying on a variety of data sources.
鉴于跨国企业(MNEs)从事广泛的税收筹划,结束税基侵蚀和利润转移活动是许多国家议程的优先事项。然而,此类活动的实际水平仍存在争议。在本文中,我们提供了如何使用利润转移研究中常用的数据集准确衡量国家级跨国公司收入的指导。这个问题是全球关注的问题,因为任何按司法管辖区报告利润的经济数据都必须使用一种既定的会计方法来报告跨国公司间接拥有的外国子公司的活动。我们解释了会计方法如何导致研究人员重复计算收入或将其归因于错误的司法管辖区。这样的错误不仅影响跨国公司国家层面利润的衡量,也会影响研究人员对收入对税收敏感性的估计。虽然我们的分析重点是来自美国经济分析局(BEA)的数据,但我们在依赖于各种数据源的各种研究中说明了这种错误测量的后果。
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引用次数: 0
Crowding out crowd support? Substitution between formal and informal insurance 排挤人群的支持?正式保险和非正式保险之间的替代
IF 3.4 1区 经济学 Q1 ECONOMICS Pub Date : 2025-11-11 DOI: 10.1016/j.jpubeco.2025.105499
Kyle Coombs
Interpersonal gifts and loans play an underexplored informal insurance role in high-income countries, posing challenges for social insurance policy design. I examine informal support via person-to-person (P2P) payment platforms using a survey-linked administrative bank transaction dataset covering low-income US users with job loss. Event study estimates show average monthly P2P inflows increase by 1.1 % of lost income one month after job loss before returning to baseline over 10 months. Single mothers receive the largest increases, as do those with high prior earnings or those living in high-income areas. Exploiting three plausibly exogenous changes to federal pandemic UI policy, I estimate that an additional dollar of UI benefits crowds out at most $0.05 of informal transfers. These results imply that UI can raise welfare by pooling risk across networks without reducing within-network risk pooling through informal insurance.
人际赠与和贷款在高收入国家发挥着未充分开发的非正式保险作用,对社会保险政策设计提出了挑战。我研究了通过个人对个人(P2P)支付平台提供的非正式支持,使用了一个与调查相关的行政银行交易数据集,涵盖了失业的美国低收入用户。事件研究估计显示,失业后一个月平均每月P2P流入量增加1.1%,然后在10个月内恢复到基线水平。单身母亲获得的增幅最大,之前收入高的人或生活在高收入地区的人也是如此。利用联邦流行病失业保险政策的三个看似外生的变化,我估计,每增加一美元的失业保险福利,最多只能挤出0.05美元的非正式转移支付。这些结果表明,UI可以通过跨网络分担风险来提高福利,而不会通过非正式保险减少网络内的风险分担。
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引用次数: 0
Optimal regulation and investment incentives in financial networks 金融网络中的最优监管与投资激励
IF 3.4 1区 经济学 Q1 ECONOMICS Pub Date : 2025-11-10 DOI: 10.1016/j.jpubeco.2025.105516
Matthew O. Jackson , Agathe Pernoud
We examine the optimal regulation of financial networks with debt interdependencies between financial firms. We first show that firms often have incentives to choose excessively risky portfolios and to overly correlate their portfolios with those of their counterparties. We then characterize how optimal regulation depends on a firm’s financial centrality and its available investment opportunities. In standard core–periphery networks, optimal regulation depends non-monotonically on the correlation of banks’ investments, with maximal restrictions at intermediate levels of correlation. Moreover, it can be uniquely optimal to treat banks asymmetrically—restricting the investments of one core bank while allowing an otherwise identical core bank (identical in all aspects, including network centrality) to invest freely.
我们研究了金融公司之间债务相互依赖的金融网络的最优监管。我们首先表明,公司往往有动机选择风险过高的投资组合,并将其投资组合与交易对手的投资组合过度关联。然后,我们描述了最优监管如何取决于公司的金融中心地位及其可用的投资机会。在标准的核心-外围网络中,最优监管非单调地依赖于银行投资的相关性,在相关性的中间水平上有最大的限制。此外,不对称地对待银行可能是唯一最优的——限制一家核心银行的投资,同时允许另一家在其他方面完全相同的核心银行(在所有方面都相同,包括网络中心性)自由投资。
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引用次数: 0
期刊
Journal of Public Economics
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