Examinando por Autor "Lorca, Miguel"

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    Ítem
    Measuring the impact of financial taxation on capital: Evidence from chilean manufacturing plants
    (Journal of Applied Economics, 2019) Correa, Juan A.; Lorca, Miguel; Parro, Francisco
    Using panel data from Chilean manufacturing plants, we estimate the impact of a stamp tax, levied on loans by financial institutions, on capital stock. Our results show that the tax has a statistically significant negative effect on the stock of capital. Specifically, we find that a rise of one percentage point in the financial tax rate decreases the stock of capital by about 4%. We also find that the impact on firms is heterogeneous, depending on the intensity of the different types of capital they hold. In particular, the demand for capital from firms with a higher percentage of structural assets, such as land and buildings, is relatively less affected by the tax.
  • Miniatura
    Ítem
    The persistent effect of socioeconomic status on education and labor market outcomes: Evidence from Chile’s administrative records
    (Emerald Group Holdings Ltd., 2019-11) Correa, Juan A.; Gutiérrez, Pablo; Lorca, Miguel; Morales, Raúl; Parro, Francisco
    Purpose: This paper aims to study the effect of family socioeconomic status (SES) on academic and labor market outcomes. Design/methodology/approach: The authors used a rich data set of administrative records for test scores, individual background and adult earnings of a cohort of agents, covering a period spanning the agents' upper-secondary education and their early years in the labor market. Findings: The authors find that students with the highest SES obtained a 1.5 standard deviations higher score in the college admission test than students who had the same academic outcomes in the eighth grade test but belong to the lowest SES. Similarly, among students that obtained the same scores in the college admission test, those with the highest SES earned monthly wages 0.7 standard deviations higher than those with the lowest SES. Originality/value: The findings highlight that family socioeconomic background continues to influence outcomes during individuals’ upper secondary education and early years in the labor market. © 2019, Juan A. Correa, Pablo Gutiérrez, Miguel Lorca, Raúl Morales, Francisco Parro.