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The fiscal theory of the price level (FTPL) has been active for 30 years, and the interest in this theory grew with the recent global surges in inflation and government spending. This study applies the FTPL to 37 OECD countries for 2020-2022. The theory's centerpiece is the government's...
Persistent link: https://www.econbiz.de/10014436969
This paper estimates the total value that individuals derive from their state's tax-and-transfer program, and shows how this value varies by income. The paper decomposes this total value into two components: redistributive value, which is due to predictable changes in income (and family...
Persistent link: https://www.econbiz.de/10012462377
The paper analyzes the effect of the generosity of the welfare state on the skill composition of immigrants. We develop a parsimonious model in which the effect of an increase in the generosity (and taxes) of the welfare state on the skill composition of immigrants under free migration is...
Persistent link: https://www.econbiz.de/10012464188
redistribution and a modest effect of two year led inequality …
Persistent link: https://www.econbiz.de/10014544770
Nonprofits supply many tax-financed services like healthcare and education. Yet nonprofits are absent from the canonical property rights theory of ownership. Extending the government "make or buy" decision to nonprofits and ex post frictions based on contracts as reference points suggests that...
Persistent link: https://www.econbiz.de/10014468220
Nearly all prior work on government outsourcing has focused on the contracting firm's incentives. This paper shows how strong incentive contracts may be insufficient to generate spending reductions (or other desired outcomes) in the presence of a binding technological or managerial constraint....
Persistent link: https://www.econbiz.de/10013362044
We review the growing literature on the political economy of immigration. First, we discuss the effects of immigration …, trigger backlash, increasing support for anti-immigrant parties and lowering preferences for redistribution and diversity … among natives. Next, we unpack the channels behind the political effects of immigration, distinguishing between economic and …
Persistent link: https://www.econbiz.de/10013210107
We examine the relationship between immigration and attitudes toward redistribution using a newly assembled data set of … immigrants at the regional level, we find that native respondents display lower support for redistribution when the share of …
Persistent link: https://www.econbiz.de/10012479516
In the absence of distortionary tax and spending policies, freer immigration and trade for a country would often be …, can do neither of these. This suggests quite different political coalitions may organize around trade and immigration. In … strategies and also fiscal jurisdictions. We then apply this framework to the case of individual immigration and trade …
Persistent link: https://www.econbiz.de/10012467659
low, the equilibrium policy is characterized by some amount of general income redistribution and some targeted transfers … interest groups and against general redistribution. As diversity increases further, however, only general redistribution …
Persistent link: https://www.econbiz.de/10012467108