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Accuracy, Complexity, and the Income Tax
Kaplow, Louis - 1994
The complexity of the income tax is an unending source of complaint. Compliance costs have received increasing attention and are estimated to be large. Yet most recognize that some degree of complexity is necessary if ability to pay is to be measured accurately. This article presents a framework...
Persistent link: https://www.econbiz.de/10012474303
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The Compliance Cost of Itemizing Deductions : Evidence from Individual Tax Returns
Pitt, Mark M. - 1988
The resource cost of operating the income tax system is large, totaling as much as seven to eight percent of revenue raised. One source of this cost is the system of itemized deductions, which can require extensive record keeping and calculation. This paper estimates the resource cost of...
Persistent link: https://www.econbiz.de/10012476540
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The Optimal Treatment of Tax Expenditures
Saez, Emmanuel - 2000
This paper analyzes the optimal treatment of tax expenditures. It develops an optimal tax model where individuals derive utility from spending on a contribution' good such as charitable giving. The contribution good has also a public good effect on all individuals in the economy. The government...
Persistent link: https://www.econbiz.de/10012470670
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Optimal Income Taxation with Unemployment and Wage Responses : A Sufficient Statistics Approach
Kroft, Kory - 2015
This paper reassesses whether the optimal income tax program features an Earned Income Tax Credit (EITC) or a Negative Income Tax (NIT) at the bottom of the income distribution, in the presence of unemployment and wage responses to taxation. The paper makes two key contributions. First, it...
Persistent link: https://www.econbiz.de/10012456914
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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
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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
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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
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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
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Approximation Bias in Linearized Euler Equations
Ludvigson, Sydney - 1999
(and the coefficient of relative risk aversion) from regressions of consumption growth on uncertainty in consumption growth … imply estimates of prudence and risk aversion that are unrealistically low. Using numerical solutions to a fairly standard …
Persistent link: https://www.econbiz.de/10012471817
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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