Austerity and distributional policy
研究了财政紧缩如何影响再分配政策，发现紧缩期间国家倾向于提高高收入者的边际所得税率，意大利市政当局在外部财政规则下渐进式提高累进税，且大学学历的市长更可能实施此类改革并在选举中表现更好。
How does fiscal austerity affect redistributive policies? We document that during austerity episodes, countries tend to increase marginal income tax rates on top earners, but not on average earners. We then show that, in response to an exogenously imposed fiscal rule, Italian municipalities increase local non-linear income taxes progressively. They do not adjust other fiscal policies. College-educated mayors are more likely than less educated mayors to implement progressive reforms, and they perform better in the upcoming election. Survey evidence suggests that the differential policy response can be explained by college-educated mayors being more informed about the available policy options.