AbstractI leverage the staggered rollout of VAT in Pakistan to document the role of withholding mechanism in the self-enforcement of a VAT. Focusing on firms already in the tax net, I see how their outcomes respond when the tax is extended upward to in…
AbstractWe study a dynamic game in which players compete for a prize. In a waiting game with two-sided private information about strength levels, players choose fighting, fleeing, or waiting. Players earn a “deterrence value” on top of the prize if the…
AbstractJob insecurity can have wide-ranging consequences outside of the labor market. A 1999 rise in the French layoff tax paid by large private firms when they laid off older workers made younger workers less secure; this insecurity reduced their fer…
AbstractIndividualism has long been linked to economic growth. Using the COVID-19 pandemic, we show that such a culture can hamper the economy’s response to crises, a period with heightened coordination frictions. Exploiting variation in U.S. counties’…
AbstractThis paper shows that venture capital investment in start-ups increases innovation of established companies in technologically related fields due to knowledge spillovers. To address endogeneity issues, we instrument R&D expenditures of esta…
AbstractUsing daily consumer survey data, we analyze the transmission of gas prices to consumer beliefs and expectations about the economy. We exploit the high frequency and geographic disaggregation of our data set to facilitate identification. Consum…