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. …

This paper evaluates a novel form of fiscal stimulus: a temporary cut in the rate of Value Added Tax (VAT). In December … bring forward their purchases and we find a significant fall in sales after the VAT cut ended. Thus an indirect tax cut …

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 …

Standard economic theory implies that the labelling of cash transfers or cash-equivalents (e.g. child benefits, food …

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 …

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 …

In this paper we provide an overview of the literature relating labour supply to taxes and welfare benefits with a … free choice over their hours of work. We then consider fixed costs of work, the complications introduced by the benefits … work is that in order to estimate the impact of tax reform and be able to generalise results, a structural approach that …