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Cross-Border Tax Externalities : Are Budget Deficits Too Small?

Buiter, Willem - 2003

In a dynamic optimising model with costly tax collection, a tax cut by one nation creates positive externalities for the rest of the world if initial public debt stocks are positive. By reducing tax collection costs, current tax cuts boost the resources available for current private consumption,...

Persistent link: https://www.econbiz.de/10012468584

Gender Based Taxation and the Division of Family Chores

Alesina, Alberto - 2007

Gender-Based Taxation (GBT) satisfies Ramsey's rule of optimality because it taxes at a lower rate the more elastic labor supply of women. This holds when different elasticities between men and women are taken as exogenous. We study GBT in a model in which labor supply elasticities emerge...

Persistent link: https://www.econbiz.de/10012465001

Taxation and Saving

Bernheim, B. Douglas - 1999

In this survey, I summarize and evaluate the extant literature concerning taxation and personal saving. I describe the theoretical models that economists have used to depict saving decisions, and I explore the positive and normative implications of these models. The central positive question is...

Persistent link: https://www.econbiz.de/10012471740

Quantitative Implications of the Home Bias : Foreign Underinvestment, Domestic Oversaving, and Corrective Taxation

Razin, Assaf - 1997

There is strong evidence about a home-court advantage in international portfolio" investment. One explanation for the bias is an information asymmetry between domestic and" foreign investors about the economic performance of domestic firms. This asymmetry causes" two types of distortions: an...

Persistent link: https://www.econbiz.de/10012472476

Channeling Domestic Savings into Productive Investment Under Asymmetric Information : The Essential Role of Foreign Direct Investment

Razin, Assaf - 1997

countries with insufficiently developed capital markets. This paper analyzes the problem of channeling domestic savings into …

Persistent link: https://www.econbiz.de/10012472477

Income Tax Incentives to Promote Saving

Becker, Charles - 1980

We examine six alternative plans which might be discussed in an effort to increase consumer savings through the … personal income tax system in the United States. These plans attempt to affect savings through an increase in the real rate of … return either by direct tax cuts on savings or by indexing tax rates against inflation. The paper presents estimates of …

Persistent link: https://www.econbiz.de/10012478649

Precautionary Saving in a Financially-Constrained Firm

Abel, Andrew B. - 2020

For a firm that cannot raise external funds, cash on hand serves as precautionary saving. We derive a closed-form expression for the target level of cash on hand in the presence of persistent cash flows. Contrary to conventional wisdom, a mean-preserving increase in the volatility of cash flow...

Persistent link: https://www.econbiz.de/10012479152

Intergenerational Risksharing and Equilibrium Asset Prices

Campbell, John Y. - 2006

optimally shares risks across generations exposes future generations to a share of the risk in physical capital returns. Such a … system reduces precautionary saving and increases the risk-bearing capacity of the economy. Under plausible conditions it … increases the riskless interest rate, lowers the price of physical capital, and reduces the risk premium on physical capital …

Persistent link: https://www.econbiz.de/10012466465

Consumption and Risk Sharing Over the Life Cycle

Storesletten, Kjetil - 2000

.S. savings behavior. The restrictions imposed by general equilibrium theory play an important role in arriving at each of these … characteristics of idiosyncratic labor market risk. We find that uncertainty distributed throughout the working years accounts for 40 …

Persistent link: https://www.econbiz.de/10012470736

How Important is Precautionary Saving?

Carroll, Christopher D. - 1995

We estimate the fraction of the wealth of a sample of PSID respondents that is held because some households face greater income uncertainty than others. We first derive an equation characterizing the theoretical relationship between wealth and uncertainty in a buffer-stock model of saving. Next,...

Persistent link: https://www.econbiz.de/10012473685

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