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Bunching and Non-Bunching at Kink Points of the Swedish Tax Schedule
Bastani, Spencer - 2012
Recent microeconometric studies of taxpayer' responsiveness to taxation have shown that intensive margin labor supply and earnings elasticities typically are modest and sometimes equal to zero. However, a common view is that long-run responses might still be large since micro-estimates are...
Persistent link: https://www.econbiz.de/10013104173
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Characterizing the Sustainability Problem in an Exhaustible Resource Model
Mitra, Tapan; Asheim, Geir B.; Buchholz, Wolfgang; … - 2021
The Dasgupta-Heal-Solow-Stiglitz model of capital accumulation and resource depletion poses the following sustainability problem: is it feasible to sustain indefinitely a level of consumption that is bounded away from zero? We provide a complete technological characterization of the...
Persistent link: https://www.econbiz.de/10013315930
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Value Function Iteration as a Solution Method for the Ramsey Model
Heer, Burkhard; Maussner, Alfred - 2021
Value function iteration is one of the standard tools for the solution of the Ramsey model. We compare six different ways of value function iteration with regard to speed and precision. We find that value function iteration with cubic spline interpolation between grid points dominates the other...
Persistent link: https://www.econbiz.de/10013316545
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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 output for a specific (unit) tax can enhance welfare in imperfectly competitive markets and is without impact in a competitive world. This paper demonstrates that a substitution...
Persistent link: https://www.econbiz.de/10013130099
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Global Warming and Extreme Events : Rethinking the Timing and Intensity of Environmental Policy
Chen, Yu-Fu - 2010
-probability extreme events on environmental policy in a continuous-time real options model with “tail risk”. In a nutshell, our results … indicate the importance of tail risk and call for foresighted pre-emptive climate policies …
Persistent link: https://www.econbiz.de/10013139799
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Optimal Income Taxation with Uncertain Earnings : A Synthesis
Boadway, Robin - 2011
ex ante identical households and the no-risk case with heterogeneous abilities come out as special cases …
Persistent link: https://www.econbiz.de/10013117794
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Risk Sharing in Defined-Contribution Funded Pension Systems
Beetsma, Roel M. W. J. - 2011
This paper explores the introduction of collective risk-sharing elements in defined contribution pension contracts. We … consider status-contingent, age-contingent and asset contingent risk-sharing arrangements. All arrangements raise aggregate …
Persistent link: https://www.econbiz.de/10013118167
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Failure of Ad Valorem and Specific Tax Equivalence Under Uncertainty
Goerke, Laszlo - 2012
Applying a framework of perfect competition under uncertainty, we contribute to the discussion of whether or not ad valorem taxes and specific taxes are equivalent. While this equivalence holds without price uncertainty, we show that ad valorem taxes and specific taxes are “almost never”...
Persistent link: https://www.econbiz.de/10013100011
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Endogenous Growth, The Distribution of Wealth, and Optimal Policy Under Incomplete Markets and Idiosyncratic Risk
Clemens, Christiane - 2012
with the Arrow/Romer approach to endogenous growth to analyze the interaction of risk, growth, and inequality, the latter …. Major results include that growth, inequality, and risk are positively related in our model, but we also identify a hump …–shaped relationship between welfare and risk, indicating a tradeoff relationship between risk–pooling and growth in the determination of …
Persistent link: https://www.econbiz.de/10013105141
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Emissions Taxes and Abatement Regulation under Uncertainty
Christiansen, Vidar - 2013
We consider environmental regulation in a context where firms invest in abatement technology under conditions of uncertainty about subsequent abatement cost, but can subsequently adjust output in the light of true marginal abatement cost. Where an emission tax is the only available instrument,...
Persistent link: https://www.econbiz.de/10013086398