Impacts of Private Prison Contracting on Inmate Time Served and Recidivism

By Anita Mukherjee

American Economic Journal: Economic Policy, May 2021

This paper examines the impact of private prison contracting by exploiting staggered prison capacity shocks in Mississippi. Motivated by a model based on the typical private prison contract that pays a per diem for each occupied bed, the empirical analysi...

The Macroeconomic Effects of Income and Consumption Tax Changes

By Anh D. M. Nguyen, Luisanna Onnis, and Raffaele Rossi

American Economic Journal: Economic Policy, May 2021

This paper estimates the effects of exogenous changes in income and consumption taxes. The tax shocks are proxied with a narrative account of tax liability changes in the United Kingdom. Income tax cuts have large effects on GDP, private consumption, and ...

The Costs of Corporate Tax Complexity

By Eric Zwick

American Economic Journal: Economic Policy, May 2021

Does tax code complexity alter corporate behavior? We investigate this question by studying the decision to claim refunds for tax losses. In a sample of 1.2 million observations from the population of corporate tax returns, only 37 percent of eligible fir...

Comments

Journal of Economic Perspectives, Spring 2004

Front Matter

Journal of Economic Perspectives, Spring 2021

The Resilience of the Euro

[Symposium: European Union]

By Philip R. Lane

Journal of Economic Perspectives, Spring 2021

Over 2014–2019, the euro area charted a substantial post-crisis economic recovery while also reducing macro-financial vulnerabilities. The array of post-crisis institutional reforms has improved the capacity of the euro area to withstand adverse shocks,...

The United States of Europe: A Gravity Model Evaluation of the Four Freedoms

[Symposium: European Union]

By Keith Head and Thierry Mayer

Journal of Economic Perspectives, Spring 2021

One of the pillars of the 1957 Treaty of Rome that ultimately led to the European Union is the commitment to the four freedoms of movement (goods, services, persons, and capital). Over the following decades, as the members expanded in numbers, they also s...

Notes

Journal of Economic Perspectives, Spring 2004

Migration and Labor Market Integration in Europe

[Symposium: European Union]

By David Dorn and Josef Zweimüller

Journal of Economic Perspectives, Spring 2021

The European labor market allows for the border-free mobility of workers across 31 countries that cover most of the continent's population. However, rates of migration across European countries remain considerably lower than interstate migration in the Un...

Fiscal Policy in Europe: Controversies over Rules, Mutual Insurance, and Centralization

[Symposium: European Union]

By Florin Bilbiie, Tommaso Monacelli, and Roberto Perotti

Journal of Economic Perspectives, Spring 2021

We discuss the main fiscal policy issues in Europe, focusing on two that are at the core of the current debate. The first is that the government deficit and debt were, from the outset, the key objects of contention in the debate that led to the creation...

An Ounce of Prevention

[Symposium: Preventive Medicine]

By Joseph P. Newhouse

Journal of Economic Perspectives, Spring 2021

I look at prevention through an economic lens and make three main points. First, those advocating preventive measures are often asked how much money a given measure saves. This question is misguided. Rather, preventive measures can be thought of as insu...

Mammograms and Mortality: How Has the Evidence Evolved?

[Symposium: Preventive Medicine]

By Amanda E. Kowalski

Journal of Economic Perspectives, Spring 2021

Decades of evidence reveal a complicated relationship between mammograms and mortality. Mammograms may detect deadly cancers early, but they may also lead to the diagnosis and potentially fatal treatment of cancers that would never progress to cause sympt...

LGBTQ Economics

By M. V. Lee Badgett, Christopher S. Carpenter, and Dario Sansone

Journal of Economic Perspectives, Spring 2021

Public attitudes and policies toward LGBTQ individuals have improved substantially in recent decades. Economists are actively shaping the discourse around these policies and contributing to our understanding of the economic lives of LGBTQ individuals. In ...

The Ways of Corruption in Infrastructure: Lessons from the Odebrecht Case

By Nicolás Campos, Eduardo Engel, Ronald D. Fischer, and Alexander Galetovic

Journal of Economic Perspectives, Spring 2021

In 2016, the Brazilian construction firm Odebrecht was fined 2.6 billion USD by the US Department of Justice. It was the largest corruption case ever prosecuted under the US Foreign Corrupt Practices Act. Our examination of judicial documents and media re...

The Rise of Research Teams: Benefits and Costs in Economics

By Benjamin F. Jones

Journal of Economic Perspectives, Spring 2021

Economics research is increasingly performed in teams, and team-authored work has a large and increasing impact advantage. This article considers the benefits and costs of this "rise of teams." Among its benefits, teamwork allows individuals to aggregate ...

Recommendations for Further Reading

By Timothy Taylor

Journal of Economic Perspectives, Spring 2021

The Capital Asset Pricing Model

[Symposium: Fortieth Anniversary of CAPM]

By André F. Perold

Journal of Economic Perspectives, Summer 2004

The Capital Asset Pricing Model (CAPM) revolutionized modern finance. Developed in the early 1960s by William Sharpe, Jack Treynor, John Lintner and Jan Mossin, the model provided the first coherent framework for relating the required return on an investm...

Front Matter

AEA Papers and Proceedings, May 2021

Foreword

By David Card

AEA Papers and Proceedings, May 2021

Editors' Introduction

By William R. Johnson and Ginny Herbert

AEA Papers and Proceedings, May 2021