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A General Equilibrium Model of Housing, Taxes, and Portfolio Choice

Berkovec, James - 1990

because government takes part of the risk from individual properties and diversifies it away. Measures to disallow property … tax or mortgage interest deductions do not help share this risk. Simulations of actual tax reform indicate a small shift … from rental to owner housing, and welfare gains from re-allocating risk …

Persistent link: https://www.econbiz.de/10012475521

Crash Risk in Currency Markets

Farhi, Emmanuel - 2009

expected exchange rate depreciations (appreciations) for high (low) interest rate currencies, suggesting that disaster risk is … priced in currency markets. To study the price of disaster risk, we propose a simple structural model that includes both … Gaussian and disaster risk and can be estimated even in samples that do not contain disasters. Estimating the model over the …

Persistent link: https://www.econbiz.de/10012463588

Uncertainty, Welfare Cost, and the 'Adaptability' of U.S. Corporate Taxes

Fullerton, Don - 1983

Alternative corporate tax systems differ in their ability to adapt to changes in the rate of inflation. Absent complete indexing of depreciation allowances, a tax system may use the expected inflation rate to set accelerated depreciation allowances in a way that minimizes the welfare loss from...

Persistent link: https://www.econbiz.de/10012477858

Speculative growth : hints from the US economy

Caballero, Ricardo J. (contributor); … - 2004 - [Elektronische Ressource]. - Rev

Persistent link: https://www.econbiz.de/10002111075

Tax and Subsidy Combinations for the Control of Car Pollution

Fullerton, Don - 2000

Despite technological advances, an individual car's emissions still cannot be measured reliably enough to impose a Pigovian tax. This paper explores alternative market incentives that could be used instead. We solve for second-best combinations of uniform taxes on gasoline, engine size, and...

Persistent link: https://www.econbiz.de/10012470976

A Tax on Output of the Polluting Industry is Not a Tax on Pollution : The Importance of Hitting the Target

Fullerton, Don - 1999

We explore the effects of environmental taxes that imprecisely target pollution. A review of actual policies indicates few (if any) examples of a true tax on pollution. More typically, environmental taxes target an input or output that is correlated with pollution. We construct a simple...

Persistent link: https://www.econbiz.de/10012471531

Can Taxes on Cars and on Gasoline Mimic an Unavailable Tax on Emissions?

Fullerton, Don - 1999

A tax on vehicle emissions can efficiently induce all of the cheapest forms of abatement. Consumers could drive less, buy a smaller car with better gas mileage, use cleaner gasoline, and repair pollution control equipment (PCE). However, the technology is not yet available to measure and tax...

Persistent link: https://www.econbiz.de/10012471742

The Impact of Fundamental Tax Reform on the Allocation of Resources

Fullerton, Don - 1986

Recent proposals for fundamental tax reform differ in their relative emphasis on interasset, intersectoral, interindustry, and intertemporal distortions. The model in this paper addresses these multiple issues in the design of taxes on capital incomes. It is capable of measuring the net effects...

Persistent link: https://www.econbiz.de/10012477171

The Indexation of Interest, Depreciation, and Capital Gains : A Model ofInvestment Incentives

Fullerton, Don - 1985

Despite much recent interest in a consumption tax, the Treasury Department's November 1984 tax plan proposes to adopt carefully coordinated features of a more comprehensive income tax, including the indexation of interest, depreciation, and capital gains.The May 1985 White House proposal would...

Persistent link: https://www.econbiz.de/10012477425

Which Effective Tax Rate?

Fullerton, Don - 1983

In estimating the effects of capital income taxation, different studies measure different effective tax rates. This paper categorizes effective tax rate estimates into six basic types, and discusses the usefulness of each. For marginal effective tax rates, some studies estimate the additional...

Persistent link: https://www.econbiz.de/10012477979

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