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The impact of Covid-19 related policy responses on municipal debt markets

Bernhardt, Robert; D'Amico, Stefania; Sordo Palacios, … - 2021

Municipal (muni) bonds are an important source of funding for state and local governments. During the Covid-19 pandemic, muni debt markets became severely distressed. In response, the Federal Reserve established the Municipal Liquidity Facility (MLF). Meanwhile, Congress enacted extensive fiscal...

Persistent link: https://www.econbiz.de/10012614282

A model of Charles Ponzi

Barlevy, Gadi; Xavier, Inês - 2025

We develop a model of Ponzi schemes with asymmetric information to study Ponzi frauds. A long-lived agent offers to save on behalf of short-lived agents at a higher rate than they can earn themselves. The long-lived agent may genuinely have a superior savings technology, but may be an imposter...

Persistent link: https://www.econbiz.de/10015332994

Measuring intergenerational income mobility : a synthesis of approaches

Deutscher, Nathan; Mazumder, Bhashkar - 2021

The literature on intergenerational income mobility uses a diverse set of measures and there is limited knowledge about whether these measures provide similar information and yield similar conclusions. We provide a framework to highlight the key concepts and properties of the different...

Persistent link: https://www.econbiz.de/10012550002

Demand volatility and the lag between the growth of temporary and permanent employment

Jin, Sainan (contributor); Ono, Yukako (contributor); … - 2007

The growth rate of temporary help service employment is often considered to be a leading business cycle indicator, because the firing and hiring of temporary help workers typically lead that of permanent workers. However, few works in the literature focus on the mechanism that generates the lag...

Persistent link: https://www.econbiz.de/10003679755

Estimating the intergenerational elasticity and rank association in the US : overcoming the current limitations of tax data

Mazumder, Bhashkar - 2015

Ideal estimates of the intergenerational elasticity (IGE) in income require a large panel of income data covering the entire working lifetimes for two generations. Previous studies have demonstrated that using short panels and covering only certain portions of the lifecycle can lead to...

Persistent link: https://www.econbiz.de/10011281638

The decline in intergenerational mobility after 1980

Davis, Jonathan; Mazumder, Bhashkar - 2017

those born between 1957 and 1964. The former entered the labor market prior to the large rise in inequality that occurred …

Persistent link: https://www.econbiz.de/10011622334

Intergenerational health mobility in the US

Halliday, Timothy; Mazumder, Bhashkar; Wong, Ashley - 2018

Studies of intergenerational mobility have largely ignored health despite the central importance of health to welfare. We present the first estimates of intergenerational health mobility in the US by using repeated measures of self-reported health status (SRH) during adulthood from the PSID. Our...

Persistent link: https://www.econbiz.de/10011788434

Cyclical transactions and wealth inequality

Sakong, Jung - 2022

. The channel predicts that geographies with historically higher volatility will feature more wealth inequality than income …Wealth is distributed more unevenly than income, and one contributing factor might be that richer households earn … higher portfolio returns. I uncover one channel that causes portfolio returns to be increasing in wealth: Poorer households …

Persistent link: https://www.econbiz.de/10012819358

The widow's offering : inheritance, family structure, and the charitable gifts of women

McGranahan, Leslie (contributor) - 2007

find that differences in the wealth, circumstances and family status of women can explain between 58% and 99% of the gap in … find that differences in the wealth, circumstances and family status of women can explain between 58% and 99% of the gap in …

Persistent link: https://www.econbiz.de/10003679756

Taxation, entrepreneurship, and wealth

Cagetti, Marco (contributor); … - 2006

"Entrepreneurship is a key determinant of investment, saving, and wealth inequality. We study the aggregate and … distributional effects of several tax reforms in a model that recognizes this key role and that matches the large wealth inequality … estate tax would generate a modest increase in wealth inequality and slightly reduce aggregate output. Decreasing the …

Persistent link: https://www.econbiz.de/10003379583