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Tax and Subsidy Combinations for the Control of Car Pollution

Fullerton, Don - 2000

Despite technological advances, an individual car's emissions still cannot be measured reliably enough to impose a Pigovian tax. This paper explores alternative market incentives that could be used instead. We solve for second-best combinations of uniform taxes on gasoline, engine size, and...

Persistent link: https://www.econbiz.de/10012470976

The Fallacy of the Fiscal Theory of the Price Level

Buiter, Willem H. - 1999

or unsound argument'. The 'fiscal theory of the price level', recently re-developed by Woodford, Cochrane, Sims and … proponents of the fiscal theory of the price level do not accept the fundamental proposition that the government's intertemporal …. Policy conclusions could be drawn from the fiscal theory of the price level that would be harmful if they influenced the …

Persistent link: https://www.econbiz.de/10012471482

A Tax on Output of the Polluting Industry is Not a Tax on Pollution : The Importance of Hitting the Target

Fullerton, Don - 1999

We explore the effects of environmental taxes that imprecisely target pollution. A review of actual policies indicates few (if any) examples of a true tax on pollution. More typically, environmental taxes target an input or output that is correlated with pollution. We construct a simple...

Persistent link: https://www.econbiz.de/10012471531

Liquidity Traps : How to Avoid Them and How to Escape Them

Buiter, Willem H. - 1999

The paper considers ways of avoiding a liquidity trap and ways of getting out of one. Unless lower short nominal interest rates are associated with significantly lower interest volatility, a lower average rate of inflation, which will be associated with lower expected nominal interest rates,...

Persistent link: https://www.econbiz.de/10012471545

Can Taxes on Cars and on Gasoline Mimic an Unavailable Tax on Emissions?

Fullerton, Don - 1999

A tax on vehicle emissions can efficiently induce all of the cheapest forms of abatement. Consumers could drive less, buy a smaller car with better gas mileage, use cleaner gasoline, and repair pollution control equipment (PCE). However, the technology is not yet available to measure and tax...

Persistent link: https://www.econbiz.de/10012471742

Fiscal Prerequisites for a Viable Managed Exchange Rate Regime : A Non-technical Eclectic Introduction

Buiter, Willem H. - 1986

borrowing. There is not yet any "deep structural" theory justifying the (exogenous) lower bounds on the stock of foreign … exchange reserves characteristic of the collapsing exchange rate literature. Absent such a theory of "international liquidity …

Persistent link: https://www.econbiz.de/10012477028

Death, Population Growth, Productivity Growth and Debt Neutrality

Buiter, Willem H. - 1986

Debt neutrality is said to occur if, given a program for public spending on current goods and services over time, the real equilibrium of the economy (private consumption, investment, relative prices, etc.) is independent of the pattern of government borrowing and lump-sum taxation over time....

Persistent link: https://www.econbiz.de/10012477043

Structural and Stabilization Aspects of Fiscal and Financial Policy in the Dependent Economy

Buiter, Willem H. - 1986

The paper considers the response of a small, open dependent economy to a variety of fiscal and financial shocks as well as the influence of alternative budget balancing rules on the response of the system to such external shocks as a change in the world interest rate. The approach allows for...

Persistent link: https://www.econbiz.de/10012477047

The Impact of Fundamental Tax Reform on the Allocation of Resources

Fullerton, Don - 1986

Recent proposals for fundamental tax reform differ in their relative emphasis on interasset, intersectoral, interindustry, and intertemporal distortions. The model in this paper addresses these multiple issues in the design of taxes on capital incomes. It is capable of measuring the net effects...

Persistent link: https://www.econbiz.de/10012477171

The Indexation of Interest, Depreciation, and Capital Gains : A Model ofInvestment Incentives

Fullerton, Don - 1985

Despite much recent interest in a consumption tax, the Treasury Department's November 1984 tax plan proposes to adopt carefully coordinated features of a more comprehensive income tax, including the indexation of interest, depreciation, and capital gains.The May 1985 White House proposal would...

Persistent link: https://www.econbiz.de/10012477425

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