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Optimal Capital-Labor Taxes under Uncertainty and Limits on Debt

Yakadina, Irina - Society for Computational Economics - SCE - 2002

Persistent link: https://www.econbiz.de/10005345455

Optimal Capital Tax and Debt Policy Under Incomplete Asset Markets

Scott, Andrew J; Abraham, Arpad; Marcet, Albert - Society for Computational Economics - SCE - 2004

Two results characterize previous studies of optimal capital income taxation: (i) In order to avoid distorting capital accumulation incentives the ex ante capital tax rate should be set to zero in the long run and ii) by varying the ex post capital tax rate governments may be able to insulate...

Persistent link: https://www.econbiz.de/10005706511

Optimal Capital - Labor Taxes under Uncertainty and Default Constraints of the Government

Yakadina, Irina - Society for Computational Economics - SCE - 2001

is that any binding limit on the amount of debt or savings the Ramsey planner wants to accumulate has a permanent effect … capital levy which allows the government to accumulate rapidly enough savings to insure against future shocks to the budget … put some restriction on plannerÌs savings. An upper limit on government debt, unless it is very tight, is there mainly for …

Persistent link: https://www.econbiz.de/10005706719

Exchange Rate Regimes and Relative Prices: An Industry-Level Empirical Investigation

Bhattacharya, Prasad S.; Karayalcin, Cem A. - Society for Computational Economics - SCE - 2003

Persistent link: https://www.econbiz.de/10005132906

Financial Frictions, Distribution Costs, and Current Account Crises

Leduc, Sylvain; Valderrama, Diego - Society for Computational Economics - SCE - 2005

Current account crises in emerging markets are characterized by large increases in interest rates, big drops in output, and large real currency depreciations. Current models of crisis with financial frictions do not generate very large movements in these variables. Recent work has shown that the...

Persistent link: https://www.econbiz.de/10005342997

Portfolio Flows, Foreign Direct Investment, Crises

Uctum, Merih; Uctum, Remzi - Society for Computational Economics - SCE - 2005

The goal of the paper is to analyze how financial and economic crises affect the relation between capital flows and their determinants. We develop a model of foreign portfolio investment (FPI) and foreign direct investment (FDI), and apply it to Turkey using an endogenous break analysis and...

Persistent link: https://www.econbiz.de/10005343001

Expansionary Fiscal Shocks and the Trade Deficit

Erceg, Christopher; Guerrieri, Luca - Society for Computational Economics - SCE - 2005

In this paper, we use an open economy DGE model (SIGMA) to assess the quantitative effects of fiscal shocks on the trade balance in the United States. We examine the effects of two alternative fiscal shocks: a rise in government consumption, and a reduction in the labor income tax rate. Our...

Persistent link: https://www.econbiz.de/10005343022

Genetic Programming and International Short-Term Capital Flow

Kuo, Tzu-Wen; Chen, Shu-Heng - Society for Computational Economics - SCE - 2003

Persistent link: https://www.econbiz.de/10005345681

Habit Formation, the World Real Interest Rate, and the Present Value Model of the Current Account

Kano, Takashi - Society for Computational Economics - SCE - 2003

Persistent link: https://www.econbiz.de/10005345703

Exchange rate overshooting and the costs of floating

Roubini, Nouriel; Cavallo, Michele; Kisselev, Kate - Society for Computational Economics - SCE - 2004

Currency crises are usually associated with large real depreciations. In some countries real depreciations are perceived to be very costly(''fear of floating''). In this paper we try to understand the reasons behind this fear. We first look at episodes of currency crises in the '90s and...

Persistent link: https://www.econbiz.de/10005706517

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