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If a specified amount of government spending must be financed, how should that finance be divided between taxes and … taxes or capital income).The first section of the present paper shows how the debt-finance advantage of a small increase in …
Persistent link: https://www.econbiz.de/10012477656
This paper examines three sources of the fluctuations in real interest rates during the past three decades: changes in budget deficits, changes in tax rules, and changes in monetary policy. The evidence indicates that budget deficits and monetary policy have had a strong influence on the level...
Persistent link: https://www.econbiz.de/10012477102
This study examines the potential effects on personal savings of alternative types of tax rules. The analysis makes use of two extensive samples of information on individual savings and financial income: the 1972 Consumer Expenditure Survey and a stratified random sample of 26,000 individual tax...
Persistent link: https://www.econbiz.de/10012478440
segmentation of the global capital market affects the impact of capital income taxes and subsidies. This is discussed in the final …
Persistent link: https://www.econbiz.de/10012474060
The tax reforms of the 1980s were the most substantial tax changes since the dramatic expansion of personal taxation during World War II. This paper. which was written as part of the NBER project on American economic policy in the 1980s. examines the nature of these changes and discusses the...
Persistent link: https://www.econbiz.de/10012474636
Although the tax reforms of the 1980s substantially lowered the excess burden caused by high marginal tax rates, there were also significant adverse effects on incentives to save and to invest in business plant and equipment. Effective tax rates on. real capital gains and real net interest...
Persistent link: https://www.econbiz.de/10012476219
The first two years of the economic expansion that began in 1983 were unusually strong and were accompanied by better inflation performance than would have been expected on the basis of experience in past recoveries. Our evidence contradicts the popular view that the recovery was the result of a...
Persistent link: https://www.econbiz.de/10012476238
Gasoline taxes can be employed to correct externalities from automobile use and to raise government revenue. Our … understanding of the optimal gasoline tax and the efficacy of existing taxes is largely based on empirical analysis of consumer … responses to gasoline price changes. In this paper, we directly examine how gasoline taxes affect gasoline consumption as …
Persistent link: https://www.econbiz.de/10012460768
The incidence of taxes on consumers and producers plays a central role in evaluating energy tax policy, yet the … state gasoline and diesel taxes to retail prices, and importantly we estimate the dependence of pass-through on factors … constrained, and the constraint is plausibly unrelated to shifts in demand, the pass-through rate of fuel taxes declines. We …
Persistent link: https://www.econbiz.de/10012461795
In 2018, California voters rejected Proposition 6, a ballot initiative that sought to repeal state gasoline taxes and … transportation and energy taxes than liberal areas, heterogeneity in the response to economic burdens has important implications for … the popular support for environmental taxes and the ongoing policy debate about how to finance future road infrastructure …
Persistent link: https://www.econbiz.de/10014528351