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Equilibrium in a production economy with an income tax

II, Wilbur John Coleman - Federal Reserve Board (Board of Governors of the … - 1989

A state-dependent income tax is incorporated into an intertemporal production economy. Methods are developed for establishing the existence and uniqueness of an equilibrium, and for explicitly constructing this equilibrium. Some tax-policy experiments are suggested, the results of which may have...

Persistent link: https://www.econbiz.de/10005372541

Income taxes, compensating differentials, and occupational choice: how taxes distort the wage-amenity decision

Shan, Hui; Powell, David - Federal Reserve Board (Board of Governors of the … - 2010

The link between taxes and occupational choices is central for understanding the welfare impacts of income taxes. Just as taxes distort the labor-leisure decision, they also distort the wage-amenity decision. Yet, there are no estimates of the full response on this margin. When tax rates...

Persistent link: https://www.econbiz.de/10008498957

Does tax policy affect executive compensation? evidence from postwar tax reforms

Frydman, Carola; Molloy, Raven S. - Federal Reserve Board (Board of Governors of the … - 2009

Evidence since the 1980s suggests that the level and structure of executive compensation in U.S. public corporations are largely unresponsive to tax incentives. However, the relative tax advantage of different forms of pay has been relatively small during this period. Using a sample of top...

Persistent link: https://www.econbiz.de/10004973925

The housing crisis and state and local government tax revenue: five channels

Lutz, Byron; Molloy, Raven; Shan, Hui - Federal Reserve Board (Board of Governors of the … - 2010

State and local government tax revenues dropped steeply following the most severe housing market contraction since the Great Depression. We identify five main channels through which the housing market affects state and local tax revenues: property tax revenues, transfer tax revenues, sales tax...

Persistent link: https://www.econbiz.de/10008679721

Welfare effects of tax policy in open economies: stabilization and cooperation

Kim, Jinill; Kim, Sunghyun Henry - Federal Reserve Board (Board of Governors of the … - 2003

This paper studies an international tax policy design problem by employing a two-country dynamic general equilibrium model with incomplete asset markets. We investigate the possibility of welfare improving active tax policies, in particular capital and labor income tax, under the non-cooperative...

Persistent link: https://www.econbiz.de/10005393623

German unification: what have we learned from multi-country models?

Gagnon, Joseph E.; Masson, Paul R.; McKibbin, Warwick J. - Federal Reserve Board (Board of Governors of the … - 1996

, and downward pressure on the current account balance in Germany. The model simulations also highlighted the contractionary …

Persistent link: https://www.econbiz.de/10005368375

Pricing to market in international trade: evidence from panel data on automobiles and total merchandise

Gagnon, Joseph E.; Knetter, Michael M. - Federal Reserve Board (Board of Governors of the … - 1990

This paper focuses on price discrimination in international trade that is associated with movements in exchange rates. This phenomenon is referred to as "pricing to market." We find strong evidence of pricing to market for Japanese exports of automobiles. We find moderate evidence of such...

Persistent link: https://www.econbiz.de/10005368412

The usefulness of P* measures for Japan and Germany

Kole, Linda S.; Leahy, Michael P. - Federal Reserve Board (Board of Governors of the … - 1991

This paper develops measures of long-run equilibrium price levels (P*) for Japan and Germany following the approach … in the U.S. case because the velocities of the broad monetary aggregates (M2+CDs in Japan and M3 in Germany) exhibit … money demand to construct measures of equilibrium velocity and P for Japan and Germany. We then assess the explanatory power …

Persistent link: https://www.econbiz.de/10005368454

An empirical analysis of policy coordination in the United States, Japan and Europe

Edison, Hali J.; Tryon, Ralph - Federal Reserve Board (Board of Governors of the … - 1986

Coordination of macroeconomic policy has been a major topic at recent summit meetings, and has been the subject of a number of theoretical studies. However, relatively little empirical research exists on policy coordination. This paper is an attempt to help fill this gap. The paper considers the...

Persistent link: https://www.econbiz.de/10005372624

Daily Bundesbank and Federal Reserve intervention and the conditional variance tale in DM/$-returns

Almekinders, Geert J.; Eijffinger, Sylvester C.W. - Federal Reserve Board (Board of Governors of the … - 1992

This paper reports on the results of an empirical investigation into the objectives of daily foreign exchange market intervention by the Deutsche Bundesbank and the Federal Reserve System in the U.S. dollar-deutsche mark market. Tobit analysis is implemented to estimate the intervention reaction...

Persistent link: https://www.econbiz.de/10005372632