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1.
Håkan Selin 《The Scandinavian journal of economics》2012,114(1):79-100
In recent years, the study of how individuals respond to policies that aim at promoting pension savings has emerged as a vital area of economic research. This paper adds to this body of literature by estimating the tax price elasticity of contributions to tax‐favoured pension‐savings accounts on a population of self‐employed individuals. I exploit a unique total database over the Swedish population that covers the years 1999–2005. Using instrumental variables, I obtain a tax price elasticity estimate of ?0.51 and an income elasticity estimate of 0.13, whereas ordinary least‐squares (OLS) produces estimates that conflict with consumer theory. 相似文献
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MARGARET A. WALLS 《Contemporary economic policy》1990,8(2):176-189
This paper examines the impacts on the US. oil market of a $5-per-barrel tariff on imported crude oil. The analysis shows that the United States currently is a price taker in the world oil market. This means that "optimal tariff" arguments for an oil import fee have no validity. The author also argues that any economic losses that oil supply disruptions generate are better addressed with alternative policy tools. To forecast the effects of the tariff on US. production, the author uses a domestic oil supply model that she developed elsewhere. She calculates the resulting gains in producer surplus and then combines them with an estimate of consumer surplus losses and government revenues so as to yield an estimate of the tariff's welfare cost. This welfare cost amounts to approximately $17 billion (in present-value terms) over the 1988–1998 period. 相似文献
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This paper studies the demand for and supply of residential housing in urban China since the late 1980s when the urban housing market became commercialized. Using aggregated annual data from 1987 to 2012 in a simultaneous equations framework we show that the rapid increase in the urban residential housing price can be well explained by the forces of demand and supply, with income determining demand and cost of construction affecting supply. We find the income elasticity of demand for urban housing to be approximately 1, the price elasticity of demand to be approximately ?1.1 and the price elasticity of supply of the total housing stock to be approximately 0.5. The resulting long‐run effect of income on urban housing prices in elasticity terms is approximately 0.7, because the increase in income has shifted the demand curve outward more rapidly than the supply curve. 相似文献
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基于Nerlove模型的中国小麦供给反应研究 总被引:3,自引:0,他引:3
依据1981—2006年中国小麦播种面积、价格和生产成本的时间序列数据,应用Nerlove模型,测算了我国小麦播种面积对价格和成本的反应程度。研究结果表明:我国小麦播种面积对价格的反应程度短期较小,但长期较大,这说明小麦供给对价格的反应存在滞后性;与价格弹性相比,小麦的成本弹性要小得多。因此,制定小麦政策时,应在稳定小麦生产资料价格的同时,加大对小麦价格支持政策的连续性,以促使麦农形成对小麦价格增长的稳定预期。 相似文献
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Previous published studies have estimated the long‐run cointegrating relationship to infer the price elasticity of imports, but a stable long‐run cointegrating relationship might not be detected in the data, especially in the case of sectoral data. This paper develops a method to estimate the price elasticity of imports based on a vector autoregression model, which can be applied when a stable long‐run cointegration relationship does not exist. The methods developed in past studies and our method are applied to Korean sectoral imports data to illustrate the usefulness of our method. 相似文献
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We solve and estimate a dynamic model that allows agents to optimally choose their labor hours and consumption and that allows for both human capital accumulation and savings. Estimation results and simulation exercises indicate that the intertemporal elasticity of substitution is much higher than the conventional estimates and the downward bias comes from the omission of the human capital accumulation effect. The human capital accumulation effect renders the life‐cycle path of the shadow wage relatively flat, even though wages increase with age. Hence, a rather flat life‐cycle labor supply path can be reconciled with a high intertemporal elasticity of substitution. 相似文献
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BIING‐HWAN LIN STEVEN T. YEN DIANSHENG DONG DAVID M. SMALLWOOD 《Contemporary economic policy》2010,28(4):524-536
Most Americans need to consume more fruits, vegetables, and dairy products. This need is particularly acute among low‐income individuals. This study examines the cost‐effectiveness of two economic policies that use alternative policy levers available within the Supplemental Nutrition Assistance Program (formerly Food Stamp Program) to increase consumption of these under‐consumed foods. Data from three nationally representative surveys are used to estimate demand elasticities, marginal propensity to spend on food out of food stamp benefits, and consumption amount of and spending on under‐consumed foods among food stamp recipients. Results suggest that a 10% price subsidy would curtail consumption deficiencies by 4%–7% at an estimated cost of $734 million a year. When the same $734 million is used to finance food stamp benefits, consumption deficiencies are predicted to narrow by only 0.35%–0.40%. (JEL C34, D12, Q18) 相似文献
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JOHN R. MORRIS 《Contemporary economic policy》1990,8(4):79-91
Water utilities tend not to use prices to encourage conservation. Many utilities still use declining block rates. Even after switching to ascending blocks, however, some have hookup charges that amount to fixed charges of more than half the cost of water. Converting the hookup charge from aflat amount to an amount based on actual water use could lead to substantial savings in usage and cost. In Denver, where a hookup charge now is equivalent to $400 per year added to one's mortgage, the savings in usage that would result from a usage-based hookup charge are estimated at between 9 and 32 percent of total use. A usage-based hookup charge would substitute for a proposed dam costing more than $500 million. Structuring prices to control usage would be far simpler than implementing the conservation programs now being proposed in some water utilities, would result in lower water costs for anyone desiring lower costs, and would allow individuals to choose whether to conserve but require them to pay the costs of their decision. 相似文献
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LAURAINE G. CHESTNUT MARK A. THAYER JEFFREY K. LAZO STEPHEN K. VAN DEN EEDEN 《Contemporary economic policy》2006,24(1):127-143
This article provides estimates of the economic benefits of reducing respiratory and cardiovascular hospitalizations based on cost of illness and willingness to pay. The willingness-to-pay estimates indicate that individuals value prevention of a five-day hospitalization event at an average of approximately $2,400. Average total costs of illness per hospitalization are $22,000–39,000. A comprehensive cost-of-illness estimate that includes value of time losses for the hospitalization and at-home recovery periods provides a close approximation of total costs borne by third parties plus individual willingness to pay. Both exceed previous cost-of-illness estimates by about 10–25%. (JEL D61, I18, Q25 ) 相似文献
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Sam Flanders Melati Nungsari Marcela Parada‐Contzen 《Journal of Public Economic Theory》2020,22(4):1041-1068
We study the effects of different pricing schemes on the overall surplus in a privately managed retirement system with multiple service providers and switching costs. We develop a theoretical model based on the Chilean retirement system and consider a repeated auction for monopoly rights over new enrollees. We consider a dynamic model solved by pension fund administrators and by consumers. We compare three different pricing schemes: (a) fees on contributions, (b) fees on returns, and (c) a two‐part tariff including an auction over a guaranteed rate of return and allowing the firm to keep a portion of returns generated above this guaranteed rate. We also consider heterogeneity across individuals where agents earn high or low wages and high‐wage customers have proportionally lower switching costs due to more cost‐effective access to financial planning services. We find that auction participants subsidize consumers. We also treat savings as a durable good. In this case, pricing over returns worsens the switching related inefficiencies just described relative to pricing over contributions, despite the better incentives it provides. These inefficiencies can be resolved by allowing firms to price discriminate. 相似文献
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Health insurance and the demand for medical care: evidence from a randomized experiment. 总被引:40,自引:0,他引:40
W G Manning J P Newhouse N Duan E B Keeler A Leibowitz M S Marquis 《The American economic review》1987,77(3):251-277
We estimate how cost sharing, the portion of the bill the patient pays, affects the demand for medical services. The data come from a randomized experiment. A catastrophic insurance plan reduces expenditures 31 percent relative to zero out-of-pocket price. The price elasticity is approximately -0.2. We reject the hypothesis that less favorable coverage of outpatient services increases total expenditure (for example, by deterring preventive care or inducing hospitalization). 相似文献
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Bjarne S. Jensen Ulla Lehmijoki Elena Rovenskaya 《Review of Development Economics》2015,19(2):221-243
Multisector growth (MSG) models are dynamic versions of computable general equilibrium (CGE) models. Non‐homothetic preference (utility) functions are required for the evolution of factor allocations and industrial structures in accordance with consumption expenditure patterns implied by the non‐unitary income elasticities observed in all budget data since Engel in the 1850s. But comparative static general equilibrium solutions and particularly solving the dynamics of MSG models require explicit specifications of all demand and cost (price) functions. On the demand side, the constant differences of elasticity of substitution (CDES) non‐homothetic indirect utility functions and Roy's identity provide the explicit Marshallian demand functions and budget shares. Sectorial constant elasticity of substitution (CES) cost functions and Shephard's lemma provide the explicit relative commodity price functions and the sectorial cost shares and capital–labor ratios. Walrasian equilibria are given by one equation and the multisector dynamics by three differential equations. Benchmark solutions are given for three cost regimes of a 10‐sector MSG model. History patterns of industrial/allocational evolutions are recognized. 相似文献
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This paper empirically investigates the effects of changes in the interest rate as well as in the current and expected future consumer price levels on households’ consumption–savings decision. In a structural demand model applied to German consumption data, we use cross-sectional and longitudinal variation in prices and tax rates to construct individual after-tax interest rates and cluster-specific consumer prices. We find that the compensated own-price elasticities for savings as well as consumption are significantly negative, while the theoretical model implications of homogeneity and symmetry must be rejected. Importantly, we estimate the uncompensated interest rate elasticity of savings, in line with the literature, at around zero. Some heterogeneity in this elasticity is found along the savings and wealth distribution. We conclude that short-term policy-induced variation of net returns to savings is expected to have no significant effects on the level of compound savings. 相似文献
16.
Insurance of Household Risks and the Rebalancing of the Chinese Economy: Health Insurance,Health Expenses and Household Savings
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This paper studies the effects of a public insurance system, the New Cooperative Medical Scheme (NCMS) on household savings in rural China. We develop a theoretical model in which we explain the impact of health insurance on savings through the impact of health insurance on out‐of‐pocket (OOP) health expense given the household level of wealth and seriousness of illness. We test the model empirically using data from the China Health and Nutrition Survey. We run endogenous and exogenous quantile regressions to evaluate the effects of NCMS participation on the distributions of household savings and OOP health expense. The impact of NCMS varies with the seriousness of illness. The NCMS induces an increase in OOP health expense for mild illness and, inversely, a decrease in health payments for more serious illnesses. The NCMS also leads to a higher incidence of catastrophic healthcare spending. The impact of the NCMS, given a certain state of illness, also varies with the household level of wealth. Poor households face health expense for both mild and serious illnesses. As the NCMS has opposite effects on the OOP expense for these two kinds of illness, we observe no effect on poor households’ precautionary savings. Because the decrease in OOP health expense for mild illness is larger for less poor households, the NCMS induces a decrease in their savings. For the most affluent households, the higher decrease in OOP spending on most moderate illness is dominated by a sharp increase in catastrophic expense, causing an increase in savings. To significantly reduce household savings and enhance household consumption, the NCMS has to offer better coverage against both serious and catastrophic health risks. 相似文献
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Without an income tax, Washington State relies heavily upon its sales tax revenue to fund public goods and services. Bordering Idaho and especially Oregon, where the sales tax is substantially lower, the juxtaposition of the different tax structures generates the border tax effect in Washington's border counties. Controlling for unobservable county‐specific characteristics and spatial autocorrelation, we find that the price elasticity generated by the sales tax discrepancy over the years 1992–2006 is ?3.11. We estimate that elimination of the sales tax differential between Washington and its neighboring states would generate tax revenue in excess of $145 million at the state level and over $21 million at the county level in border counties. (JEL C23, D12, E62, H71) 相似文献
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In many countries water supply is a service that is seriously underpriced, especially for residential consumers. This has
led to a call for setting cost recovery policies to ensure that the tariffs charged for water supply cover the full cost of
service provision. Identification of factors driving piped and non-piped water demand is a necessary prerequisite for predicting
how consumers will react to such price increases. Using cross-sectional data of 1,800 households from Southwest Sri Lanka,
we estimate water demand functions for piped and non-piped households using appropriate econometric techniques. The (marginal)
price elasticity is estimated at − 0.15 for households exclusively relying on piped water, and at − 0.37 for households
using piped water but supplementing their supply with other water sources. The time cost elasticity for households relying
on non-piped water only is estimated at − 0.06 on average, but varying across sources. For both piped and non-piped households,
we find evidence of substitutability between water from different sources. We discuss the implications of these results in
terms of pricing policy. 相似文献