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Deficits with Distortionary Taxes : International Dimensions

Frenkel, Jacob A. - 1986

mechanism depend critically on the precise composition of taxes. Specifically, the international effects of budget deficits of a … given size differ sharply according to the types of taxes used to generate the deficit. We show that in determining the … effects of taxes it is useful to divide the various distortionary taxes into two groups: those that stimulate current external …

Persistent link: https://www.econbiz.de/10012476990

Fiscal Policies and Real Exchange Rates in the World Economy

Frenkel, Jacob A. - 1986

-distortionary taxes and for various patterns of government spending, it is shown that the quantitative and qualitative effects of fiscal … and tax structure, including the timing of taxes and borrowing and the types of taxes used to finance the budget, on the …

Persistent link: https://www.econbiz.de/10012477004

Investment in Energy Infrastructure and the Tax Code

Metcalf, Gilbert E. - 2009

Federal tax policy provides a broad array of incentives for energy investment. I review those policies and construct estimates of marginal effective tax rates for different energy capital investments as of 2007. Effective tax rates vary widely across investment classes. I then consider...

Persistent link: https://www.econbiz.de/10012463220

Tax Policies for Low-Carbon Technologies

Metcalf, Gilbert E. - 2009

key policy goals with subsidies as opposed to using taxes to raise the price of pollution-related activities. In …

Persistent link: https://www.econbiz.de/10012463596

Analysis of U.S. Greenhouse Gas Tax Proposals

Metcalf, Gilbert E. - 2008

The U.S. Congress is considering a set of bills designed to limit the nation's greenhouse gas (GHG) emissions. This paper complements the analysis by Paltsev et al. (2007) of cap-and-trade bills and applies the MIT Emissions Prediction and Policy Analysis (EPPA) model to carry out an analysis of...

Persistent link: https://www.econbiz.de/10012464666

Using Tax Expenditures to Achieve Energy Policy Goals

Metcalf, Gilbert E. - 2008

Tax expenditures are a major source of support for energy related activities in the federal budget exceeding direct budget support for energy by a factor of nearly six. Focusing on the policy goals of reducing greenhouse gas emissions and petroleum consumption, I find these tax expenditures...

Persistent link: https://www.econbiz.de/10012464894

Federal Tax Policy Towards Energy

Metcalf, Gilbert E. - 2006

On Aug. 8, 2005, President Bush signed the Energy Policy Act of 2005 (PL 109-58). This was the first major piece of energy legislation enacted since 1992 following five years of Congressional efforts to pass energy legislation. Among other things, the law contains tax incentives worth over $14...

Persistent link: https://www.econbiz.de/10012466094

Investment with Uncertain Tax Policy : Does Random Tax Policy Discourage Investment?

Hassett, Kevin - 1994

In models with irreversible investment, increasing uncertainty about prices has been shown to increase the required rate of return (hurdle rate) and delay investment (e.g., Pindyck, 1988). One serious form of uncertainty faced by firms, a form that policy makers could conceivably control, is tax...

Persistent link: https://www.econbiz.de/10012474139

The Role of Federal Taxation in the Supply of Municipal Bonds : Evidence From Municipal Governments

Metcalf, Gilbert E. - 1991

This paper considers ways in which federal tax policy affects municipal asset and debt holdings. The tax treatment of municipal bonds and income creates an arbitrage opportunity for communities to issue tax exempt debt and invest in financial assets. I present evidence that suggests the rules in...

Persistent link: https://www.econbiz.de/10012475096

International Spillovers of Taxation

Frenkel, Jacob A. - 1989

detailed specification of public and private sector behavior focusing on the roles played by taxes on income, consumption, and … analytically that the effects of such changes in the structure of taxes depend critically on international differences in saving … depend critically on whether the government manages its deficit through alterations in income or consumption (VAT) taxes …

Persistent link: https://www.econbiz.de/10012476126