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Women's emancipation through education: a macroeconomic analysis

Guvenen, Fatih; Rendall, Michelle - Federal Reserve Bank of Minneapolis - 2013

women. To investigate this idea, we build and estimate an equilibrium search model with education, marriage/divorce …In this paper, we study the role of education as insurance against a bad marriage. Historically, due to disparities in … had to suffer one of two fates in a bad marriage: either they get divorced (assuming it is available) and struggle as low …

Persistent link: https://www.econbiz.de/10010702105

Modern macroeconomics in practice: how theory is shaping policy

Chari, V. V.; Kehoe, Patrick J. - Federal Reserve Bank of Minneapolis - 2006

Theoretical advances in macroeconomics made in the last three decades have had a major influence on macroeconomic policy analysis. Moreover, over the last several decades, the United States and other countries have undertaken a variety of policy changes that are precisely what macroeconomic...

Persistent link: https://www.econbiz.de/10005712300

Why do Americans work so much more than Europeans?

Prescott, Edward C. - Federal Reserve Bank of Minneapolis - 2003

Americans now work 50 percent more than do the Germans, French, and Italians. This was not the case in the early 1970s when the Western Europeans worked more than Americans. In this paper, I examine the role of taxes in accounting for the differences in labor supply across time and across...

Persistent link: https://www.econbiz.de/10005712314

Taxation, entrepreneurship, and wealth

Cagetti, Marco; Nardi, Mariacristina De - Federal Reserve Bank of Minneapolis - 2004

businesses from the negative effects of estate taxation, minimizing the aggregate costs of redistribution. Abolishing the current …

Persistent link: https://www.econbiz.de/10005712317

Optimal indirect and capital taxation

Golosov, Mikhail; Kocherlakota, Narayana; Tsyvinski, Aleh - Federal Reserve Bank of Minneapolis - 2001

In this paper, we consider an environment in which agents’ skills are private information, are potentially multi-dimensional, and follow arbitrary stochastic processes. We allow for arbitrary incentive-compatible and physically feasible tax schemes. We prove that it is typically Pareto optimal...

Persistent link: https://www.econbiz.de/10005712324

Tax smoothing with redistribution

Werning, Iván - Federal Reserve Bank of Minneapolis - 2005

We study optimal labor and capital taxation in a dynamic economy subject to government expenditure and aggregate … productivity shocks. We relax two assumptions from Ramsey models: that a representative agent exists and that taxation is … proportional with no lump-sum tax. In contrast, we capture a redistributive motive for distortive taxation by allowing privately …

Persistent link: https://www.econbiz.de/10005712342

Social insurance and taxation under sequential majority voting and utilitarian regimes

Aiyagari, S. Rae; Peled, Dan - Federal Reserve Bank of Minneapolis - 1995

It is often argued that with a positively skewed income distribution (median less than mean) majority voting would result in higher tax rates than maximizing average welfare and, hence, lower aggregate savings. We reexamine this view in a capital accumulation model, in which distorting...

Persistent link: https://www.econbiz.de/10005712346

Risk sharing: private insurance markets or redistributive taxes?

Krueger, Dirk; Perri, Fabrizio - Federal Reserve Bank of Minneapolis - 1999

We explore the welfare consequences of different taxation schemes in an economy where agents are debt-constrained. If … subject to income taxation. A change in the tax system changes the severity of punishment from default and, hence, leads to a …

Persistent link: https://www.econbiz.de/10005712368

The macroeconomic effects of distortionary taxation

McGrattan, Ellen R. - Federal Reserve Bank of Minneapolis - 1991

Persistent link: https://www.econbiz.de/10005712944

Political economy of taxation in an overlapping-generations economy

Bassetto, Marco - Federal Reserve Bank of Minneapolis - 1999

This paper builds a simple but complete model of a political system to analyze the effects of intergenerational conflicts on capital and labor income tax rates, transfers, and government spending. I show how the different nature of tax liabilities for the young and the old can explain why the...

Persistent link: https://www.econbiz.de/10005712946