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Globalization, Capital Taxation, and Development: Evidence from a Macro-Historical Database

By Pierre Bachas, Matthew Fisher-Post, Anders Jensen, and Gabriel Zucman

American Economic Journal: Applied Economics

This paper builds and analyzes a new global macro-historical database of effective tax rates on capital and labor in 154 countries. We establish a new stylized fact: while effective capital tax rates fell in developed countries between 1965 and 2018, th...

The Economics of Age at School Entry: Insights from Evidence and Methods

By Mariagrazia Cavallo, Elizabeth Dhuey, Luca Fumarco, Levi Halewyck, and Simon ter Meulen

Journal of Economic Literature

This article reviews the growing literature on age at school entry and its effects over the life course. Age at school entry affects a broad range of outcomes, including education, labor-market performance, health, social relationships, and family formati...

Leaning Against the Global Financial Cycle

By Andrea Ferrero, Maurizio Habib, Livio Stracca, and Fabrizio Venditti

American Economic Journal: Macroeconomics

We investigate the impact of institutional quality on shielding emerging economies from the Global Financial Cycle. Our findings indicate that countries with a higher rule of law, characterized by superior contract enforcement and more robust protectio...

Land, Wealth, and Taxation

By Roberto Brunetti, Carl Gaigné, and Fabien Moizeau

American Economic Journal: Microeconomics

This paper examines the role of land in wealth dynamics and its consequences on efficiency and inequality. We focus on the interplay among agents’ bidding for location, mortgage market imperfections, and inheritance in a model in which agents leave t...

The Perils of Overreaction

By Konstantin von Beringe and Mark Whitmeyer

American Economic Journal: Microeconomics

In order to study updating rules, we consider the problem of a malevolent principal screening an imperfectly Bayesian agent. We uncover a fundamental dichotomy between underreaction and overreaction to information. If, for some signal realization, the ...