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Commodity Tax Structure Under Uncertainty in a Perfectly Competitive Market

Goerke, Laszlo - 2011

In a partial equilibrium setting without price uncertainty, the balanced-budget substitution of an ad valorem tax on … competitive market characterised by uncertainty about the commodity price, if firms can respond to the revelation of demand …

Persistent link: https://www.econbiz.de/10013130099

Beyond the DSGE Straitjacket

Pesaran, M. Hashem - 2011

Academic macroeconomics and the research department of central banks have come to be dominated by Dynamic, Stochastic, General Equilibrium (DSGE) models based on micro-foundations of optimising representative agents with rational expectations. We argue that the dominance of this particular sort...

Persistent link: https://www.econbiz.de/10013125067

Profit Sharing and Relative Consumption

Goerke, Laszlo - 2012

Traditionally, it has been argued that profit sharing can increase employment and welfare because it lowers marginal labor costs without reducing total cost or labor income. In this paper, we show that profit sharing can also represent a Pareto-improvement if labor supply is excessive due to...

Persistent link: https://www.econbiz.de/10013098650

Failure of Ad Valorem and Specific Tax Equivalence Under Uncertainty

Goerke, Laszlo - 2012

valorem taxes and specific taxes are equivalent. While this equivalence holds without price uncertainty, we show that ad …

Persistent link: https://www.econbiz.de/10013100011

From Optimal Tax Theory to Applied Tax Policy

Jacobs, Bas - 2013

This paper aims to provide a perspective on the ideal tax system using insights from optimal-tax theory supplemented …

Persistent link: https://www.econbiz.de/10013084904

Second-Best Income Taxation with Endogenous Human Capital and Borrowing Constraints

Jacobs, Bas - 2013

We formulate a two-period life-cycle model of saving, labor supply, and human capital investments when individuals differ in ability and initial wealth. Borrowing constraints prevent individuals to optimally smooth consumption over the life-cycle and to optimally invest in human capital. We show...

Persistent link: https://www.econbiz.de/10013084907

Optimal Linear Commodity Taxation Under Optimal Non-Linear Income Taxation

Jacobs, Bas - 2013

This paper analyzes optimal linear commodity taxes joint with non-linear income taxes. We provide optimal tax rules based on empirically observable elasticities. We demonstrate that commodities should be taxed/subsidized if doing so boosts labor supply. The critical role of commodity taxation is...

Persistent link: https://www.econbiz.de/10013085745

Relative Consumption and Tax Evasion

Goerke, Laszlo - 2013

Relative consumption effects or status concerns that feature jealousy (in the sense of Dupor and Liu, AER 2003) boost consumption expenditure. If consumption is financed by labour income, such status considerations increase labour supply and, hence, the tax base. A higher taxable income, in...

Persistent link: https://www.econbiz.de/10013087722

An Exponential Class of Dynamic Binary Choice Panel Data Models with Fixed Effects

Al-Sadoon, Majid - 2013

This paper develops a model for dynamic binary choice panel data that allows for unobserved heterogeneity to be arbitrarily correlated with covariates. The model is of the exponential type. We derive moment conditions that enable us to eliminate the unobserved heterogeneity term and at the same...

Persistent link: https://www.econbiz.de/10013089182

Double-Question Survey Measures for the Analysis of Financial Bubbles and Crashes

Pesaran, M. Hashem - 2017

belief valuations are compared and related to their price expectations. An individual respondent is presented with two sets …-valued), and another regarding his/her expectations of the future price of that asset. Responses to these two questions are then … between the agents expectations of price changes and their asset valuation. Double question surveys on equity, gold and house …

Persistent link: https://www.econbiz.de/10012963776