Narrow search
Showing 1 - 10 of 14,208
Cover Image
Tax responses in local public finance : the flypaper effect at work
Köthenbürger, Marko; Loumeau, Gabriel - 2023
The transfer elasticity of income tax rates is an important parameter in public finance. Given the significant fiscal autonomy of Swiss municipalities, Switzerland is an ideal setting for examining behavioral responses to tax policy. Using a regression kink design, we find robust causal evidence...
Persistent link: https://www.econbiz.de/10014250394
Cover Image
A snapshot of public finance research from immediately prior to the pandemic : IIPF 2020
Agrawal, David R.; Davies, Ronald B.; LaLumia, Sara; … - 2021
As the COVID-19 pandemic has shaped public policies and government finances, it has also influenced the topics that public finance economists are researching. Because the 2020 International Institute of Public Finance (IIPF) Congress featured papers that were submitted prior to the start of the...
Persistent link: https://www.econbiz.de/10012602343
Cover Image
Reforming budgetary language
Bradford, David F. - 2001
In the context of several examples of problems associated with present budgetary conventions, I revisit Musgrave's conceptual division of the government's program into Allocation, Distribution and Stabilization Branch subbudgets. I suggest progress towards Musgrave's ideal of a more informative...
Persistent link: https://www.econbiz.de/10011408439
Cover Image
A Requiem for the Fiscal Theory of the Price Level
Farmer, Roger E. A. - 2019
We demonstrate that the Fiscal Theory of the Price Level (FTPL) cannot be used to determine the price level uniquely in …
Persistent link: https://www.econbiz.de/10012894996
Cover Image
Intertemporal Distortions in the Second Best
Albanesi, Stefania - 2010
This paper studies the long run properties of intertemporal distortions in a broad class of second best economies. Our unified framework encompasses and extends many well known models, such as variants of the Ramsey taxation model with aggregate or idiosyncratic risk, and economies with...
Persistent link: https://www.econbiz.de/10012759663
Cover Image
On the General Relativity of Fiscal Language
Kotlikoff, Laurence J. - 2010
A century ago, everyone thought time and distance were well defined physical concepts. But neither proved absolute. Instead, measures/reports of time and distance were found to depend on one%u2019s reference point, specifically one%u2019s direction and speed of travel, making our apparent...
Persistent link: https://www.econbiz.de/10012761261
Cover Image
Long-Term Debt and Optimal Policy in the Fiscal Theory of the Price Level
Cochrane, John H. - 2021
The fiscal theory says that the price level is determined by the ratio of nominal debt to the present value of real … primary surpluses. I analyze long-term debt and optimal policy in the fiscal theory. I find that the maturity structure of the …
Persistent link: https://www.econbiz.de/10013220940
Cover Image
Understanding the Fiscal Theory of the Price Level
Christiano, Lawrence J.; Fitzgerald, Terry J. - 2021
We review the fiscal theory of the price level. We place special emphasis on the theory's implications for the …
Persistent link: https://www.econbiz.de/10013223567
Cover Image
The Fallacy of the Fiscal Theory of the Price Level
Buiter, Willem H. - 2021
or unsound argument'. The 'fiscal theory of the price level', recently re-developed by Woodford, Cochrane, Sims and … proponents of the fiscal theory of the price level do not accept the fundamental proposition that the government's intertemporal …. Policy conclusions could be drawn from the fiscal theory of the price level that would be harmful if they influenced the …
Persistent link: https://www.econbiz.de/10013223568
Cover Image
Debt and Taxes in the Theory of Public Finance
Feldstein, Martin S. - 2021
If a specified amount of government spending must be financed, how should that finance be divided between taxes and government borrowing? In the case of a temporary increase in government spending, it has been argued that debt finance is optimal because the small increments in all future tax...
Persistent link: https://www.econbiz.de/10013225423