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The first two years of the economic expansion that began in 1983 were unusually strong and were accompanied by better inflation performance than would have been expected on the basis of experience in past recoveries. Our evidence contradicts the popular view that the recovery was the result of a...
Persistent link: https://www.econbiz.de/10012476238
This paper employs a general equilibrium model to assess the effects of major components of the Tax Reform Act of 1986 on the performance of housing and other industries. The model considers both short-term and long-term effects on housing demands, house values, and investment in housing. Model...
Persistent link: https://www.econbiz.de/10012476243
rate for all transactions. We show that the dual exchange rate policies can be usefully cast as distortionary taxes on …
Persistent link: https://www.econbiz.de/10012476411
In an open economy, savings- and investment-promoting policies may have very different effects on the capital account and on the viability of export-oriented and import-competing industries. The nature of the effects is often ambiguous in analytical models. This paper employs a simulation model...
Persistent link: https://www.econbiz.de/10012476437
added significantly to business taxes. Was there any unifying theme to these tax changes, or do they represent frequent … the net effects on efficiency of each of these changes in capital income taxation. Under the new view that dividend taxes … generate improvements in efficiency. Under the old view that dividend taxes are important, however, these changes all increase …
Persistent link: https://www.econbiz.de/10012476477
individual's income risk. Redistributive taxes can be used to spread aggregate income risks across different generations The …
Persistent link: https://www.econbiz.de/10012476549
This paper considers the impact of federal deductibility on the level and composition of state and local taxes. It also …
Persistent link: https://www.econbiz.de/10012476776
This paper presents a multisector general equilibrium model that is capable of providing integrated assessments of the economy's short- and long- run responses to tax policy changes. The model contains an explicit treatment of firm's investment decisions according to which producers exhibit...
Persistent link: https://www.econbiz.de/10012476941
regional effects of taxes. Earlier, literature on regional tax effects is reviewed and the main features of the model are … important regional features of taxes, such as taxes which are predominantly on products or industries located in particular … regions. Results suggest that regional effects of taxes can be significant, and in the Canadian case at least, do not tend to …
Persistent link: https://www.econbiz.de/10012476962
In contrast to the conventional wisdom, real estate activity in the aggregate is not disfavored by the 1986 Tax Act. Within the broad aggregate, however, widely different impacts are to be expected. Regular rental and commercial activity will be slightly disfavored, while historic and old...
Persistent link: https://www.econbiz.de/10012476971