growth enhancing tax and expenditure reform. We quantitatively illustrate that this reform based strategy, by reaping … yet avoids increasing tax rates. With slow consolidation, marginal tax rates are reduced right from the beginning. …

distribution of wealth. Imposing such levies is not easy, however, since it involves valuation of assets and preventing tax … 000 euros for married couples) give a tax base of 92 percent of the GDP. A forced loan or a levy of, for example, ten … percent of this tax base could thus mobilize just over nine percent of the GDP-around 230 billion euros. This would affect the …

We study the effect of tax policy on stock market returns in the United States, Germany, and the United Kingdom using … GARCH models and a unique daily dataset of legislative tax changes during the period 1 December 1978 to 31 January 2018. We … find that days of discretionary tax legislation during all stages of the process often matter for returns, both in terms of …

We characterize the second-best allocation in a Mirrleesian optimal tax model where agents differ in multiple … dimensions and the planner can tax multiple goods non-linearly. We develop a new method that allows us to solve the partial … properties of the optimum. First, the optimal tax system is described by a multidimensional version of Diamond’s (1998) and Saez …

This paper studies the design of tax systems that implement a planner's second-best allocation in a market economy. An … example shows that the widely used Mirrleesian (1976) tax system cannot implement all incentive-compatible allocations … tax system. However, this tax system is often undesirable since it severely restricts the choice space of agents in the …

This paper studies the design of tax systems that implement a planner's second-best allocation in a market economy. An … example shows that the widely used Mirrleesian (1976) tax system cannot implement all incentive-compatible allocations … one tax system. However, this tax system is often undesirable since it severely restricts the choice space of agents in …

expectations, a structural labor demand model, and a tax-benefit microsimulation model. Our findings show that as of September 2020 …. However, the tax benefit system and discretionary policy responses to the crisis act as important income stabilizers, since …

-level approach. We combine a microsimulation model with labour market transition techniques to simulate the COVID-19 shock on the …

from approximately 0.7 in 1997 to under 0.3 in 2019. We further demonstrate how a simulation procedure based on the labor … the sociodemographic composition of the population, changes in preferences and labor market options, wage changes, and tax …