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Factor Substitution, Income Distribution, and Growth in a Generalized Neoclassical Model
Irmen, Andreas; Klump, Rainer - 2021
asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the … the particular savings hypothesis. However, if savings out of capital income are substantial so that a certain threshold …
Persistent link: https://www.econbiz.de/10013316692
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A growth oriented dual income tax
Keuschnigg, Christian; Dietz, Martin D. - 2005
demonstrates the neutrality properties of the reform with respect to investment, firm financial decisions and organizational choice …. Tax rates are chosen to prevent income shifting from labor to capital income. The reform decisively strengthens investment … of domestically owned firms as well as home and foreign based multinationals and boosts savings. Simulations with a …
Persistent link: https://www.econbiz.de/10010271071
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Pareto-Improving Structural Reforms
Saint-Paul, Gilles - 2019
Economists recommend to partly redistribute gains to losers from a structural reform, which in many cases may be required for making the reform politically viable. However, taxation is distortionary. Then, it is unclear that compensatory transfers can support a Pareto-improving reform. This...
Persistent link: https://www.econbiz.de/10012892197
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[Sigma]: the long and short of it
Chirinko, Robert S. - 2008
Research on the elasticity of substitution between capital and labor - ó - has been proceeding for 75 years. While there is clearly a strong case for the importance of ó in the analysis of growth and other economic issues, much less agreement exists on the value of ó. This paper offers some...
Persistent link: https://www.econbiz.de/10010264314
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Tax incentives, bequest motives, and the demand for life insurance: Evidence from two natural experiments in Germany
Sauter, Nicolas; Walliser, Jan; Winter, Joachim - 2010
Whole life insurance plays an important role in household saving. However, empirical evidence on its determinants is scarce. This paper studies two natural experiments to identify the effects of tax incentives and bequest motives on life-insurance demand. An unanticipated tax reform in 2000...
Persistent link: https://www.econbiz.de/10010270489
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The savings-inflation puzzle
Heer, Burkhard; Süssmuth, Bernd - 2006
We find that inflation did not unanimously decrease savings in the US during the postwar period. This result is …
Persistent link: https://www.econbiz.de/10010261403
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Impatience and Uncertainty : Experimental Decisions Predict Adolescents' Field Behavior
Sutter, Matthias - 2011
We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to eighteen years, in an incentivized experiment and relate experimental choices to field behavior. Experimental measures of impatience are found to be significant predictors of...
Persistent link: https://www.econbiz.de/10013118350
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Indebted Demand
Mian, Atif R. - 2020
We propose a theory of indebted demand, capturing the idea that large debt burdens by households and governments lower aggregate demand, and thus natural interest rates. At the core of the theory is the simple yet under-appreciated observation that borrowers and savers differ in their marginal...
Persistent link: https://www.econbiz.de/10012836950
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The Saving Glut of the Rich and the Rise in Household Debt
Mian, Atif R. - 2020
the global saving glut, and it has not been associated with an increase in investment. Instead, the saving glut of the …
Persistent link: https://www.econbiz.de/10012837475
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The Optimal Amount of Attention to Capital Income Risk and Heterogeneous Precautionary Saving Behavior
Yin, Penghui - 2019
This paper studies attention allocation behavior of rationally inattentive consumers who have CRRA preferences, face uninsured capital income risk, and suffer from an information-processing capacity constraint. For given attention devoted to capital income risk, we solve for the optimal...
Persistent link: https://www.econbiz.de/10012892117