431 research outputs found
Do Men and Women-Economists Choose the Same Research Fields?: Evidence from Top-50 Departments
This paper describes the gender distribution of research fields in economics by means of a new dataset about researchers working in the world top-50 Economics departments, according to the rankings of the Econphd.net website. We document that women are unevenly distributed across fields and test some behavioral implications from theories underlying such disparities. Our main findings are that the probability that a woman works in a given field is positively related to the share of women in that field (path-dependence), and that the share of women in a field decreases with their average quality. These patterns, however, are weaker for younger female researchers. Further, we document how gender segregation of fields has evolved over different Ph.D. cohorts.Banco de Santande
Under the radar : the effects of monitoring firms on tax compliance
This paper analyzes the effects on tax compliance of monitoring the information trails generated by firmsâ activities. We exploit quasi-experimental variation generated by a Large Taxpayers Unit (LTU) in Spain, which monitors firms with more than 6 million euros in reported revenue. Firms strategically bunch below this threshold in order to avoid stricter tax enforcement. This response is stronger in sectors where transactions leave more paper trail, implying that monitoring effort and the traceability of information reported by firms are complements. We calculate that there would be substantial welfare gains from extending stricter tax monitoring to smaller businesses
Heterogeneous responses to effective tax enforcement : evidence from Spanish firms
Este documento investiga los efectos de supervisar los rastros de informaciĂłn generados por las actividades de las empresas con el objetivo de mejorar el cumplimiento de sus obligaciones tributarias. A partir de la variaciĂłn cuasiexperimental proporcionada por la Unidad de Grandes Contribuyentes (UGC) existente en España, contrastamos empĂricamente las predicciones teĂłricas relativas a las respuestas de las empresas ante un incremento del esfuerzo de supervisiĂłn tributario. Las empresas que facturan mĂĄs de 6 millones de euros son revisadas por una UGC que dispone de mĂĄs recursos para verifi car las transacciones reportadas por las empresas. Utilizando los estados contables de casi el universo de empresas españolas para el periodo 1999-2007, encontramos una concentraciĂłn sustancial de empresas justo debajo del umbral de la UGC. En media, estimamos que las empresas que se concentran en el umbral reducen su ingresos reportados en 101.000 euros (1,7 % de su ingreso total) para evitar caer en el rĂ©gimen de elevado control tributario. Ajustando por la existencia de costes de evasiĂłn soportados por las empresas, estimamos que la empresa marginal que decide situarse en el umbral reduce sus ingresos reportados en 593.000 euros (9,9 %). La respuesta es dĂ©bil en sectores en los que la mayorĂa de las ventas se realizan al consumidor fi nal (venta al por menor, restauraciĂłn) y fuerte en sectores que mayoritariamente venden bienes intermedios a otras empresas (distribuciĂłn mayorista, manufactura). Este resultado indica que el esfuerzo de supervisiĂłn ejercido por la autoridad tributaria y la trazabilidad de la informaciĂłn reportada por las empresas son complementarios, y ambos necesarios para un control tributario efectivo. Finalmente, la evidencia presentada sugiere la declaraciĂłn inadecuada de gastos asociados a la adquisiciĂłn de materiales y de los costes laborales para evadir ..This paper investigates the effects of monitoring the information trails generated by firmsâ activities in order to improve tax compliance. We use quasi-experimental variation provided by a Large Taxpayers Unit (LTU) in Spain to empirically test the theoretical predictions on firmsâ responses to an increase in monitoring effort. Firms with more than âŹ6 million in reported revenue are monitored by the LTU, which devotes more resources to verifying the transactions reported by those fi rms. Using fi nancial statements from practically the entire universe of Spanish firms for the period 1999-2007, we find substantial bunching of firms just below the LTU threshold. On average, we estimate that bunchers reduce their reported revenue by âŹ101,000 (1.7% of total revenue) to avoid falling in the high enforcement regime. Adjusting for resource costs of evasion faced by firms, we estimate that the marginal bunching firm reduces its reported revenue by up to âŹ593,000 (9.9%). The response is weak in sectors where most sales are made to final consumers (retail, restaurants) and strong in sectors where fi rms sell intermediate goods to other businesses (wholesale, manufacturing). This result suggests that the monitoring effort by the tax authorities and the traceability of the information reported by firms are complements, and both are necessary for effective tax enforcement. Finally, we provide suggestive evidence that firms under low monitoring effort also misreport their material and labour expenditures to evade taxes, even in the presence of third-party reportin
The elasticity of taxable income in Spain: 1999-2014
En este artĂculo se estudia cĂłmo reacciona la renta gravable de los contribuyentes
españoles ante cambios en los tipos marginales del IRPF, utilizando como principal
fuente de identifi caciĂłn la variaciĂłn proporcionada por tres grandes reformas del
impuesto introducidas a lo largo del perĂodo 1999-2014. Las estimaciones mĂĄs fi ables de
la elasticidad de la renta gravable con respecto al tipo marginal neto del impuesto para este
perĂodo se sitĂșan en el rango comprendido entre 0,45 y 0,64. Esta elasticidad es cerca
de tres veces mayor para los contribuyentes autĂłnomos que para los trabajadores, y es
mayor para las rentas procedentes de las actividades econĂłmicas que para las rentas del
trabajo y del capital. La elasticidad de la renta bruta es menor, entre 0,10 y 0,24, mientras
que la elasticidad de algunas deducciones como las de planes de pensiones privados excede
de 1. Las estimaciones obtenidas son similares cuando se utiliza una amplia variedad de
métodos de estimación y restricciones muestrales, y también son robustas frente a los
sesgos potenciales creados por la presencia de reversiĂłn a la media y heterogeneidad en
las tendencias de renta entre contribuyentes.We study how taxable income responds to changes in marginal tax rates, using as a
main source of identifying variation three large reforms to the Spanish personal income
tax implemented in the period 1999-2014. The most reliable estimates of the elasticity
of taxable income (ETI) with respect to the net-of-tax rate for this period are between 0.45
and 0.64. The ETI is about three times larger for selfemployed taxpayers than for employees,
and larger for business income than for labor and capital income. The elasticity of broad
income (EBI) is smaller, between 0.10 and 0.24, while the elasticity of some tax deductions
such as the one for private pension contributions exceeds one. Our estimates are similar
across a variety of estimation methods and sample restrictions, and also robust to potential
biases created by mean reversion and heterogeneous income trends
From Great Depression to Great Credit Crisis: Similarities, Differences and Lessons
The Great Depression of the Thirties and the Great Credit Crisis of the "Noughties had similar causes but elicited strikingly different policy responses. It may still be too early to assess the effectiveness of current policy responses, but it is possible to analyze monetary and fiscal policies in the 1930s as a "natural experiment" or "counterfactual" capable of shedding light on the impact of recent policies. We employ vector autoregressions, instrumental variables, and qualitative evidence for a panel of 27 countries in the period 1925-1939. The results suggest that monetary and fiscal stimulus was effective â that where it did not make a difference it was not tried. The results also shed light on the debate over fiscal multipliers in episodes of financial crisis. They are consistent with multipliers at the higher end of those estimated in the recent literature, consistent with the idea that the impact of fiscal stimulus will be greater when banking system are dysfunctional and monetary policy is constrained by the zero bound.
The UK needs the EU â but the EU needs the UK, too
What might a UK exit from the European Union mean for Europeâs future? A recent hearing of the âLSE Commission on Britainâs Future in Europeâ that addressed this question posed a number of fears over the implications. In response to Kevin Featherstoneâs post Waking up to a nightmare? A UK exit from the EU would be a âlose-loseâ for both sides LSEâs Visiting Professor in Practice JoaquĂn Almunia offers his opinion
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