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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

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

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

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

No smoking at the slot machines : the effect of a smoke free law on Delaware gaming revenues

Pakko, Michael Robert (contributor) - 2005 - rev.

Persistent link: https://www.econbiz.de/10003344535

Smoke-free law did affect revenue from gaming in Delaware

Pakko, Michael Robert (contributor) - 2005

"A paper recently published in the journal Tobacco Control purports to show that the implementation of a smoking prohibition in Delaware had no statistically significant effect on the revenues of three gaming facilities in that state. After undertaking a thorough analysis of the data, I find...

Persistent link: https://www.econbiz.de/10002977393

Who benefits from increased government spending? a state-level analysis

Owyang, Michael T.; Zubairy, Sarah - Federal Reserve Bank of St. Louis - 2009

We simultaneously identify two government spending shocks: military spending shocks as defined by Ramey (2008) and federal spending shocks as defined by Perotti (2008). We analyze the effect of these shocks on state-level personal income and employment. We find regional patterns in the manner in...

Persistent link: https://www.econbiz.de/10004973900

State government effects on the spatial distribution of inward foreign direct investment

Coughlin, Cletus C.; Terza, Joseph V.; Arromdee, Vachira - Federal Reserve Bank of St. Louis - 1987

In a recent review of the literature, Wasylenko (1981) concluded that taxes have very little effect on interregional business location decisions. The present study examines the impact of state taxes and incentive programs on the spatial distribution of inward foreign direct investment in...

Persistent link: https://www.econbiz.de/10005360554

Tax competition and tax harmonization with evasion

Gandelman, Nestor; Hernández-Murillo, Rubén - Federal Reserve Bank of St. Louis - 2002

We examine a two-jurisdiction tax competition environment where local governments can only imperfectly monitor where agents pay taxes and risk-averse individuals my choose to cross borders to pay lower taxes in a neighboring location. ; In the game between local authorities, when communities...

Persistent link: https://www.econbiz.de/10005360590

Dynamic taxation, private information and money

Waller, Christopher J. - Federal Reserve Bank of St. Louis - 2009

distortionary taxation of money may be needed as part of the optimal policy even if lump-sum taxes are available. …

Persistent link: https://www.econbiz.de/10005077872