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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

Seigniorage as a tax: a quantitative evaluation

Imrohoroglu, Ayse; Prescott, Edward C. - Federal Reserve Bank of Minneapolis - 1991

In this paper we analyze the efficacy of seignorage as a tax associated with various monetary arrangements in a computable general equilibrium model. For the economies examined, we find that seignorage tax is not a good one relative to a tax on labor income. If the after-tax real return is –5...

Persistent link: https://www.econbiz.de/10005367647

On the size of U.S. government: political economy in the neoclassical growth model

Krusell, Per; Rios-Rull, Jose-Victor - Federal Reserve Bank of Minneapolis - 1997

We study a dynamic version of Meltzer and Richard's median-voter analysis of the size of government. Taxes are proportional to total income, and they are used for government consumption, which is exogenous, and for lump-sum transfers, whose size is chosen by electoral vote. Votes take place...

Persistent link: https://www.econbiz.de/10005367648

Sequential equilibria in a Ramsey tax model

Phelan, Christopher; Stacchetti, Ennio - Federal Reserve Bank of Minneapolis - 1999

This paper presents a full characterization of the equilibrium value set of a Ramsey tax model. More generally, it develops a dynamic programming method for a class of policy games between the government and a continuum of consumers. By selectively incorporating Euler conditions into a strategic...

Persistent link: https://www.econbiz.de/10005367735

Does the progressivity of taxes matter for economic growth?

Caucutt, Elizabeth M.; Imrohoroglu, Selahattin; Kumar, … - Federal Reserve Bank of Minneapolis - 2000

A sizeable literature has argued that the growth effects of changes in flat rate taxes are small. In this paper, we investigate the relatively unexplored area of the growth effect of changes in the tax structure, in particular, in the progressivity of taxes. Considering such a tax reform seems...

Persistent link: https://www.econbiz.de/10005372780

Risk sharing, inequality, and fertility

Hosseini, Roozbeh; Jones, Larry E.; Shourideh, Ali - Federal Reserve Bank of Minneapolis - 2009

We use an extended Barro-Becker model of endogenous fertility, in which parents are heterogeneous in their labor productivity, to study the efficient degree of consumption inequality in the long run. In our environment a utilitarian planner allows for consumption inequality even when labor...

Persistent link: https://www.econbiz.de/10008636203

Comment on Mendoza and Tesar's "Why hasn't tax competition triggered a race to the bottom? Some quantitative lessons from the EU"

McGrattan, Ellen R. - Federal Reserve Bank of Minneapolis - 2004

. Of particular interest to EU ministers is taxation of mobile factors like capital. Mendoza and Tesar (MT) use a game …

Persistent link: https://www.econbiz.de/10004993830

Taxation, entrepreneurship and wealth

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

effective estate tax system seems to insulate most of the businesses from the negative effects of estate taxation thus …

Persistent link: https://www.econbiz.de/10004994150

Taxes, regulations, and asset prices

McGrattan, Ellen R.; Prescott, Edward C. - Federal Reserve Bank of Minneapolis - 2001

U.S. stock prices have increased much faster than gross domestic product GDP) in the postwar period. Between 1962 and 2000, corporate equity value relative to GDP nearly doubled. In this paper, we determine what standard growth theory says the equity value should be in 1962 and 2000, the two...

Persistent link: https://www.econbiz.de/10005726728

Optimal indirect and capital taxation

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

In this paper, we consider an environment in which agents’ productivities are private information, 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...

Persistent link: https://www.econbiz.de/10005726733