Using linked employer-employee data for the U.S., we examine whether shocks to firm revenues are transmitted to the earnings of continuing employees. While full insurance is rejected, the elasticity of worker earnings with respect to persistent shocks in firm revenues is small and consistent...

In the new millennium, the soaring economic growth in Asia and Africa, the increase of world trade, and globalization have boosted the global demand for cocoa. However, world cocoa supply could barely keep up with demand. These processes triggered a high volatility in global cocoa prices....

Tobacco taxes are deemed regressive, because the poorest families tend to allocate larger shares of their budget to purchase tobacco. However, as taxes also discourage tobacco use, some of the most adverse effects, including higher medical expenses, lower life expectancy at birth, added years of...

Recent volatility in international energy prices has revealed South Eastern Europe as one of the most vulnerable regions to such external shocks. Under the current global economic downturn, in addition, the region?s energy-intensive industries are faced with the challenge of the weakening demand...

We show that an insight from taxation theory allows identification of both the supply and demand elasticities with only one instrument. Ramsey (1928) and subsequent models of taxation assume that a tax levied on the demand side only affects demand through the price after taxation....

This paper uses detailed information about household supermarket purchases from the Australian Nielsen Homescan Survey to estimate price elasticities of demand for a range of food categories. An instrumental variable strategy is employed to address endogeneity issues. The estimates obtained from...

Scholars have shown that shoppers are sensitive to price, promotions, discounts, and how offers are framed (DelVecchio et al, 2007). Less is known about the underlying mechanisms of shoppers' behaviors in response to offers they see. What does a 50% discount tell buyers? Why do consumers care...

This paper uses detailed information about household supermarket purchases from the Australian Nielsen Homescan Survey to estimate price elasticities of demand for a range of food categories. An instrumental variable strategy is employed to address endogeneity issues. The estimates obtained from...

We show that an insight from taxation theory allows identification of both the supply and demand elasticities with only one instrument. Ramsey (1928) and subsequent models of taxation assume that a tax levied on the demand side only affects demand through the price after taxation....