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The distributional consequences of tax reforms under market distortions
Angelopoulos, Konstantinos; Malley, James R.; Jiang, Wei - Department of Economics, Adam Smith Business School - 2011
In this paper we examine the importance of imperfect competition in product and labour markets in determining the long-run welfare e¤ects of tax reforms assuming agent heterogeneneity in capital hold- ings. Each of these market failures, independently, results in welfare losses for at least a...
Persistent link: https://www.econbiz.de/10009398864
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On the cost of rent-seeking by government bureaucrats in a Real-Business-Cycle framework
Vasilev, Aleksandar - Department of Economics, Adam Smith Business School - 2013
-seeking behavior of government bureaucrats and the public sector wage bill, which is taken to represent the rent component. In …-2007. The main findings are: (i) Due to the existence of a significant pub- lic sector wage premium and the high public sector … smaller relative to the exogenous policy case, as the government chooses a higher public wage premium, but sets a much lower …
Persistent link: https://www.econbiz.de/10010896980
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Fiscal policy in a Real-Business-Cycle model with labor-intensive government services and endogenous public sector wages and hours
Vasilev, Aleksandar - Department of Economics, Adam Smith Business School - 2013
Motivated by the high public employment, and the public wage premia observed in Europe, a Real-Business-Cycle model …, substitutes labor for capital in the input mix for public services produc- tion, and private output; (v) Government wage bill is …
Persistent link: https://www.econbiz.de/10010896986