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The Life-Cycle Model of Consumption and Saving

[Symposium: Consumption Behaviour]

By Martin Browning and Thomas F. Crossley

Journal of Economic Perspectives, Summer 2001

A central implication of life-cycle models is that agents smooth consumption. We review the empirical evidence on smoothing at frequencies from within the year up to across a lifetime. We find that life-cycle models--particular those which incorporate rea...

Treasure Islands

[Symposium: Tax Havens]

By James R. Hines Jr.

Journal of Economic Perspectives, Fall 2010

In movies and novels, tax havens are often settings for shady international deals; in practice, they are rather less flashy. Tax havens, also known as "offshore financial centers" or "international financial centers," are countries and territories that of...

Skill Transferability, Migration, and Development: Evidence from Population Resettlement in Indonesia

By Samuel Bazzi, Arya Gaduh, Alexander D. Rothenberg, and Maisy Wong

American Economic Review, September 2016

We use a natural experiment in Indonesia to provide causal evidence on the role of location-specific human capital and skill transferability in shaping the spatial distribution of productivity. From 1979-1988, the Transmigration Program relocated two mill...

Designing Climate Mitigation Policy

By Joseph E. Aldy, Alan J. Krupnick, Richard G. Newell, Ian W. H. Parry, and William A. Pizer

Journal of Economic Literature, December 2010

This paper provides (for the nonspecialist) a highly streamlined discussion of the main issues, and controversies, in the design of climate mitigation policy. The first part of the paper discusses how much action to reduce greenhouse gas emissions at the...

Labor Supply and Taxes: A Survey

By Michael P. Keane

Journal of Economic Literature, December 2011

I survey the male and female labor supply literatures, focusing on implications for effects of wages and taxes. For males, I describe and contrast results from three basic types of model: static models (especially those that account for nonlinear taxes), ...

Is the United States Still a Land of Opportunity? Recent Trends in Intergenerational Mobility

By Raj Chetty, Nathaniel Hendren, Patrick Kline, Emmanuel Saez, and Nicholas Turner

American Economic Review, May 2014

We present new evidence on trends in intergenerational mobility in the United States using administrative earnings records. We find that percentile rank-based measures of intergenerational mobility have remained extremely stable for the 1971–1993 bi...

Correspondence

By Andrew R. Dick and John R. Lott

Journal of Economic Perspectives, Spring 1990

Correspondence and responce regarding: The Role of Potential Competition in Industrial Organization Response: The Role of Potential Competition in Industrial Organization