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Optimal Income Taxation: Mirrlees Meets Ramsey
Heathcote, Jonathan; Tsujiyama, Hitoshi - C.E.P.R. Discussion Papers - 2015
What structure of income taxation maximizes the social benefits of redistribution while minimizing the social harm … redistributes primarily via marginal tax rates that rise with income, and replacing it with a flat tax system, in which marginal tax …
Persistent link: https://www.econbiz.de/10011165649
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Public Debt in the USA: How Much, How Bad and Who Pays?
Buiter, Willem H. - C.E.P.R. Discussion Papers - 1993
In terms of the ratio of its public debt and public deficit to GDP the United States lies in the middle of the pack of industrial countries. The period since 1980 is the only peacetime period outside the Great Depression to see a sustained increase in the debt-GDP ratio. The budgetary...
Persistent link: https://www.econbiz.de/10005123675
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Redistributive Politics with Distortionary Taxation
Crutzen, Benoît SY; Sahuguet, Nicolas - C.E.P.R. Discussion Papers - 2006
We extend the discussion of redistributive politics across electoral systems to allow for taxation to be distortionary. We allow politicians to choose any tax rate between zero and unity and then redistribute the money collected. We build on the model put forward by Myerson (1993) and Lizzeri...
Persistent link: https://www.econbiz.de/10005504298
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Expanding the Welfare System: A Proposal for Reform
Orszag, Mike; Snower, Dennis J. - C.E.P.R. Discussion Papers - 1997
’s welfare accounts. The government could redistribute income across people’s welfare accounts, but these redistributions would …
Persistent link: https://www.econbiz.de/10005661484
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Coordination of Capital Taxation Among Asymmetric Countries
Peralta, Susana; van Ypersele, Tanguy - C.E.P.R. Discussion Papers - 2003
This Paper tackles the issue of international fiscal coordination in a world where markets are integrated but national governments are sovereign. The consequences of capital market liberalization to national fiscal policies and possible remedies to resulting inefficiencies are analysed. A...
Persistent link: https://www.econbiz.de/10005656387
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Personal Pensions with Risk sharing: Affordable, Adequate and Stable Private Pensions in Europe
Bovenberg, A Lans; Nijman, Theo E - C.E.P.R. Discussion Papers - 2015
Private pension provision faces the challenging task of providing stable income streams during retirement. The …
Persistent link: https://www.econbiz.de/10011252616
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Heterogeneous Responses and Aggregate Impact of the 2001 Income Tax Rebates
Misra, Kanishka; Surico, Paolo - C.E.P.R. Discussion Papers - 2011
This paper estimates the heterogeneous responses to the 2001 income tax rebates across endogenously determined groups … of American households. Around 45% of the sample saved the entire value of the rebate. Another 20%, with low income and …% of households, with higher income or liquid wealth. The estimated heterogeneity implies that the tax rebates added a 3 …
Persistent link: https://www.econbiz.de/10008925717
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A Model of the Consumption Response to Fiscal Stimulus Payments
Kaplan, Greg; Violante, Giovanni L - C.E.P.R. Discussion Papers - 2011
propensities to consume out of additional income. We document the existence of such households in data from the Survey of Consumer …
Persistent link: https://www.econbiz.de/10009293985
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Public and Private Insurance with Costly Transactions
Bertola, Giuseppe; Koeniger, Winfried - C.E.P.R. Discussion Papers - 2010
We characterize how public insurance schemes are constrained by hidden financial transactions. When non-exclusive private insurance entails increasing unit transaction costs, public transfers are only partly offset by hidden private transactions, and can influence consumption allocation. We show...
Persistent link: https://www.econbiz.de/10008682880
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Marriage as a Rat Race: Noisy Pre-Marital Investments with Assortative Matching
Bhaskar, Venkataraman; Hopkins, Ed - C.E.P.R. Discussion Papers - 2011
We study the incentives of parents to invest in their children when these investments improve their marriage prospects, in a frictionless marriage market with non-transferable utility. Stochastic returns to investment eliminate the multiplicity of equilibria that plagues models with...
Persistent link: https://www.econbiz.de/10009246608