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Optimal taxation with imperfect competition and aggregate returns to specialization
Coto-Martínez, Javier; Garriga, Carlos; … - Federal Reserve Bank of St. Louis - 2007
In this paper we explore the proposition that in economies with imperfect competitive markets the optimal capital income tax is negative and the optimal tax on firms profits is confiscatory. We show that if the total factor productivity as well as the measure of firms or varieties are endogenous...
Persistent link: https://www.econbiz.de/10005352792
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The tax treatment of homeowners and landlords and the progressivity of income taxation
Chambers, Matthew; Garriga, Carlos; Schlagenhauf, Don - Federal Reserve Bank of St. Louis - 2007
progressivity of income taxation using a quantitative overlapping generations general equilibrium model with housing and rental …
Persistent link: https://www.econbiz.de/10005352938
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Intergenerational policy and the measurement of tax incidence
Conesa, Juan Carlos; Garriga, Carlos - Federal Reserve Bank of St. Louis - 2013
Policymakers often use measures of tax incidence (generational accounts) as criteria for policy selection. We use a quantitative model of optimal intergenerational policy to evaluate the ability of the tax incidence metric to capture the identity of recipients and contributors and the magnitudes...
Persistent link: https://www.econbiz.de/10010640522
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Generational policy and the macroeconomic measurement of tax incidence
Conesa, Juan Carlos; Garriga, Carlos - Federal Reserve Bank of St. Louis - 2009
In this paper we show that the generational accounting framework used in macroeconomics to measure tax incidence can, in some cases, yield inaccurate measurements of the tax burden across age cohorts. This result is very important for policy evaluation, because it shows that the selection of tax...
Persistent link: https://www.econbiz.de/10004973893
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Estate taxation with warm-glow altruism
Garriga, Carlos; Sánchez-Losada, Fernando - Federal Reserve Bank of St. Louis - 2009
implemented by the market with estate and labor-income subsidies and a capital-income tax. In the absence of lump-sum taxation … differs from Pigovian taxation since the government's ability to correct the external effects is limited. Finally, we show …
Persistent link: https://www.econbiz.de/10004973902
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Indirect taxation and the welfare effects of altruism on the optimal fiscal policy
Garriga, Carlos; Sánchez-Losada, Fernando - Federal Reserve Bank of St. Louis - 2009
taxation (consumption and estate taxes) with important welfare implications. We use three different altruistic approaches (warm … ability to use indirect taxation to mimic lump-sum taxation and to implement the first-best outcome in the long-run. This … generations economy, where long-run welfare is suboptimal and indirect taxation is irrelevant. …
Persistent link: https://www.econbiz.de/10008583257