taxable income, reacts to changes in marginal tax rates. In this study we use a rich panel data set and a sequence of tax … reforms that took place in Sweden during the 1980's to estimate the elasticity of the hourly wage rate with respect to the net-of-tax … rate. While carefully accounting for the endogeneity of marginal tax rates as well as other factors that determine wage …

-material values over material things. We incorporate this notion into a simple tax model for a small open economy. We show that a … postmaterialism are developed from the World Values Surveys. Their impact on the tax mix is highly significant and goes into the …

I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of … default induced redistribution and costs due to income losses in the wake of a default. Their choice of short- versus long …

deleveraging and credit crunch when the bubble burst. This paper discusses the interactions between tax policy and the financial …. Finally, it examines some possible future tax options to prevent such crises. …

The effects of stochastic oil demand on optimal oil extraction paths and tax, spending and government debt policies are … by the Hotelling rule and optimal budgetary policies by the tax and consumption smoothing principle. Volatile oil demand …

This paper estimates the effects of tax changes on the U.K. economy. Identification is achieved by isolating the … 'exogenous' tax policy shocks in the post-war U.K. economy using a narrative strategy as in Romer and Romer (2010). The resulting … tax changes are shown to be unforecastable on the basis of past macroeconomic data. I find that a 1 per cent cut in taxes …

tax collection and exogenously given public spending and initial debt. We ask whether the externalities associated with an …

The stylized facts suggest a negative relationship between tax progressivity and the skill premium from the early 1960s … until the early 1990s, and a positive one thereafter. They also generally imply rising tax progressivity, except for the … 1980s. In this paper, we ask whether optimal tax policy is consistent with these observations, taking into account the …

tax cuts in an economy where wages are determined through firm-union bargaining at the sectoral level. In such a labour … market regime, simulations for Germany show that labour tax policies can make only a small contribution to alleviating the …