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Sleet, Christopher; Yeltekin, Sevin - Society for Economic Dynamics - SED - 2006

over political candidate-mechanism pairs in each period. This arrangement precludes government commitment. Although, the t …

Persistent link: https://www.econbiz.de/10005069344

Markets as Beneficial Constraints on the Government

Rampini, Adriano; Bisin, Alberto - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10004970332

Dynamic Optimal Non-linear Taxation Under Non-commitment

Tsyvinski, Aleh; Golosov, Mikhail; Skreta, Vasiliki - Society for Economic Dynamics - SED - 2004

This paper studies dynamic non-linear taxation in a two-period model without government commitment and a continuum of …

Persistent link: https://www.econbiz.de/10005085448

Yet Another Reason to Tax Goods

Costa, Carlos E. da - Society for Economic Dynamics - SED - 2006

An important finding of the new dynamic public finance literature is the validity of Atkinson and Stiglitz' uniform commodity tax prescription in a dynamic Mirrleesian setting. However, this need not apply to the taxation of goods across time, i.e., the taxation of savings. We model an...

Persistent link: https://www.econbiz.de/10005069325

Does competition for (human) capital discipline governments? The role of commitment

Armenter, Roc; Ortega, Francesc - Society for Economic Dynamics - SED - 2006

We argue that labor mobility does not lead to a ''race to the bottom,'' where countries drastically cut redistributive transfers in order to attract skilled workers. The basis of our argument is that these cuts are not credible policies. We propose a two country model where competition for...

Persistent link: https://www.econbiz.de/10005069270

Commitment vs. Flexibility

Amador, Manuel; Angeletos, George-Marios; Werning, Ivan - Society for Economic Dynamics - SED - 2004

This paper studies the optimal trade-off between commitment and flexibility in an intertemporal consumption … value for flexibility - but also expect to suffer from temptations - generating a value for commitment. The model combines … the representations of preferences for flexibility introduced by Kreps (1979) with its recent antithesis for commitment …

Persistent link: https://www.econbiz.de/10005090888

Information Immobility and the Home Bias Puzzle

Veldkamp, Laura; Nieuwerburgh, Stijn Van - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10005069387

Asymmetric Information and the Lack of International Portfolio

Hatchondo, Juan Carlos - Society for Economic Dynamics - SED - 2006

There is pervasive evidence that individuals invest primarily in domestic assets and thus hold poorly diversified portfolios. Empirical studies suggest that informational asymmetries may play a role in explaining the bias towards domestic assets. In contrast, theoretical studies based on...

Persistent link: https://www.econbiz.de/10005090779

Optimal Income Taxation and Public-Goods Finance

Hellwig, Martin F. - Society for Economic Dynamics - SED - 2004

The paper studies the role of income taxes and admission fees in financing excludable and nonexcludable public goods in a large economy. A renegotiation proofness condition makes the multidimensional Bayesian mechanism design problem tractable. Resulting formulae for optimal income taxes and...

Persistent link: https://www.econbiz.de/10004970346

Ramsey Meets Hosios: The Optimal Capital Tax and Labor Market Efficiency

Arseneau, David M.; Chugh, Sanjay K. - Society for Economic Dynamics - SED - 2006

Heterogeneity between unemployed and employed individuals matters for optimal fiscal policy. This paper considers the consequences of welfare heterogeneity between these two groups for the determination of optimal capital and labor income taxes in a model with matching frictions in the labor...

Persistent link: https://www.econbiz.de/10005069214

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