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The Effects of Changes in Property Tax Rates and School Spending on Residential and Business Property Value Growth

Kang, Sung Hoon - 2012

In this paper, we examine the effects of changes in property tax rates and school spending on residential and business property value growth in southeast Michigan. We use panel data for 152 communities in the five counties surrounding Detroit between the years 1983 and 2002, a period during...

Persistent link: https://www.econbiz.de/10013101409

Wealth Taxation, Non-Listed Firms, and the Risk of Entrepreneurial Investment

Schindler, Dirk - 2017

How to incorporate hard-to-measure assets into the wealth tax? We analyze the effect of an optimal wealth tax on risk-taking behavior and welfare when investors do not only have the standard portfolio choice with a well-diversified market portfolio, but can alternatively choose to invest all...

Persistent link: https://www.econbiz.de/10012951768

A History of Violence : Field Evidence on Trauma, Discounting and Present Bias

Imas, Alex - 2015

The extent to which individuals discount the future and whether they discount in a time-consistent fashion is an important determinant of their life outcomes. Using a field experiment in the Democratic Republic of Congo, we show that direct exposure to violence substantially increases present...

Persistent link: https://www.econbiz.de/10013023101

Homeownership and Entrepreneurship : The Role of Mortgage Debt and Commitment

Bracke, Philippe - 2014

We study the link between homeownership, mortgage debt, and entrepreneurship using a model of occupational choice and … housing tenure where homeowners commit to mortgage payments. Our model predicts that, as long as mortgage rates exceed the … rate of interest on liquid wealth: (i) mortgage debt, by amplifying risk aversion, diminishes the likelihood that …

Persistent link: https://www.econbiz.de/10013044547

Retirement, Pensions, and Ageing

Heijdra, Ben J.; Romp, Ward E. - 2021

We study the effects of demographic shocks and changes in the pension system on the macroeconomic performance of an advanced small open economy. An overlapping-generations model is constructed which includes a realistic description of the mortality process. Individual agents choose their optimal...

Persistent link: https://www.econbiz.de/10013317087

Stimulating Annuity Markets

Heijdra, Ben J.; Mierau, Jochen O.; Trimborn, Timo - CESifo - 2014

We study the short-, medium-, and long-run implications of stimulating annuity markets in a dynamic general-equilibrium overlapping-generations model. We find that beneficial partial-equilibrium effects of stimulating annuity markets are counteracted by negative general-equilibrium...

Persistent link: https://www.econbiz.de/10010781542

Funded and Unfunded Pension Schemes: Risk, Return and Welfare

Miles, David K. - CESifo - 2000

This paper uses stochastic simulations on calibrated models to assess the optimal degree of reliance on fun ded pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between funded and unfunded systems when there are sources of...

Persistent link: https://www.econbiz.de/10005181541

Stimulating Annuity Markets

Heijdra, Ben J. - 2014

Persistent link: https://www.econbiz.de/10013051616

Risk, Return and Portfolio Allocation Under Alternative Pension Arrangements with Imperfect Financial Markets

Miles, David - 2020

This paper uses stochastic simulations on calibrated models to assess the steady state impact of different pension arrangements in an environment where financial markets are less than perfect. Surprisingly little is known about the optimal split between funded and unfunded systems when there are...

Persistent link: https://www.econbiz.de/10012746367

Tax Incentives, Bequest Motives, and the Demand for Life Insurance: Evidence from two Natural Experiments in Germany

Sauter, Nicolas; Walliser, Jan; Winter, Joachim - CESifo - 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/10008534059