private consumption) asset categories.We interpret these results as indicating both the existence of real tax responses and … supportive of the notion that in the presence of dividend taxation closely-held firms partially serve as tax shelters. …

recessions than tax based fiscal adjustments. Finally, certain combinations of policies have made it possible for spending based …

, a zero tax/subsidy on capital becomes suboptimal. In particular, the higher the level of public expenditure and the …

the long run tax on capital is positive and significant, whenever the intertemporal elasticity of substitution is below … one. For higher elasticities, the tax converges to zero but may do so at a slow rate, after centuries of high capital … taxation. The model in Chamley (1986) imposes an upper bound on capital taxation and we prove that the tax rate may end up at …

factors. The first is the impact of tax policy, which has varied over time and differs across countries. Top tax rates have …

purchase health insurance to a financially equivalent tax on the uninsured. Participants report their probability of purchasing … equivalent tax, increased probability of insurance purchase by 10.6 percentage points -- an effect comparable to a $1000 decrease … in annual premiums. After the controversy, the mandate is no more effective than the tax. Our results show that how a …