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, marginal and intra-marginal taxation, and the level of government consumption. Conventional accounting measures of "taxes …
Persistent link: https://www.econbiz.de/10012477793
This paper develops a perfect foresight general equilibrium simulation model of life cycle savings that may be used to investigate the potential impact of a wide range of government policies on national savings and economic welfare. The model can provide quantitative answers to a number of...
Persistent link: https://www.econbiz.de/10012478386
levels by increasing taxes, so either an adjustment to fiscal spending or monetary policy must occur to stabilize debt. We …
Persistent link: https://www.econbiz.de/10012462162
--government spending and changes in tax policy--and map the news processes into standard DSGE models. We identify news concerning taxes …
Persistent link: https://www.econbiz.de/10012462293
Recent data present a puzzle: the ratio of corporate tax losses to positive income was much higher around 2001 than in earlier recessions. Using a comprehensive 1982-2005 sample of U.S. corporation tax returns, we explore a variety of potential explanations for this surge in tax losses, taking...
Persistent link: https://www.econbiz.de/10012464242
econometrician's information sets in estimated VARs. Economically meaningful shocks to taxes, therefore, cannot be extracted from …
Persistent link: https://www.econbiz.de/10012464619
combination of a drop in total factor productivity (TFP) during 1990-92 and of increases in taxes on labor and consumption and …
Persistent link: https://www.econbiz.de/10012465055
income, corporate income, payroll, and estate and gift taxes with a 23 percent effective retail sales tax plus a progressive … rebate. The 23 percent rate generates more revenue than the taxes it replaces, but the rebate's cost necessitates scaling … here, current effective marginal labor taxes are higher or much higher than 23 percent. Take our stylized 45 year …
Persistent link: https://www.econbiz.de/10012466840
An asset-pricing perspective on inflation reveals that it depends on current and expected monetary and fiscal policies. There are three ways to carry $1 today into the future: money, bonds, and real assets. That dollar's purchasing power varies inversely with the price level. Expected money...
Persistent link: https://www.econbiz.de/10012469197
One of the important changes of the 1986 tax reform for U.S. multinationals is related to the allocation of interest expense. Prior to 1986, U.S. companies allocated domestic interest expense to the income of foreign affiliates on a non-consolidated basis according to the distribution of gross...
Persistent link: https://www.econbiz.de/10012474216