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The effect of U.S. climate policy on financial markets : an event study of the inflation reduction act
Bauer, Michael D.; Offner, Eric A.; Rudebusch, Glenn D. - 2023
The Inflation Reduction Act of 2022 (IRA) represents the largest climate policy action ever undertaken in the United …
Persistent link: https://www.econbiz.de/10014422560
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Automatic stabilizers and economic crisis : US vs. Europe
Dolls, Mathias; Fuest, Clemens; Peichl, Andreas - 2009
This paper analyzes the effectiveness of the tax and transfer systems in the European Union and the US to act as an automatic stabilizer in the current economic crisis. We find that automatic stabilizers absorb 38 per cent of a proportional income shock in the EU, compared to 32 per cent in the...
Persistent link: https://www.econbiz.de/10003922975
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Culture and tax structures
König, Tobias; Wagener, Andreas - 2012
We argue that societies with a stronger tendency towards postmaterialist life goals tilt the tax structure towards personal income taxes and away from corporate taxation. We provide empirical evidence for this correlation in OECD countries. To address endogeneity issues we then use an...
Persistent link: https://www.econbiz.de/10009503814
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Fair and efficient taxation under partial control : theory and evidence
Ooghe, Erwin; Peichl, Andreas - 2011
There is clear evidence that fairness plays a role in redistribution. Individuals want to compensate others for their misfortune, while they allow them to enjoy the fruits of their effort. This paper introduces fairness in a tax-benefit scheme that is based on several characteristics in order to...
Persistent link: https://www.econbiz.de/10009230790
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Stagflationary stock returns
Knox, Ben; Timmer, Yannick - 2024 - This version: July 16, 2024
We study investors' perceptions of inflation through the lens of a high-frequency event study and document that they … have a stagflationary view of the world. In response to higher-than-expected inflation, investors expect firms' nominal … even decline, with increases in nominal yields offset by larger increases in inflation expectations. Consistent with a …
Persistent link: https://www.econbiz.de/10014632362
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Do as essay, not as I do? : how inflated list prices of unsold essayer homes affect the price discovery process
Agarwal, Sumit; Seiler, Michael J.; Siebert, Ralph - 2022
In the U.S. real estate market, around 30 percent of listed properties remain unsold. We examine whether unsold property listings exert externalities in the housing market. Our study builds on a comprehensive dataset that encompasses residential property listings in Orange County (California)...
Persistent link: https://www.econbiz.de/10013440434
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When a price is enough : implementation in optimal tax design
Renes, Sander; Zoutman, Floris T. - 2014
This paper studies the design of tax systems that implement a planner's second-best allocation in a market economy. An example shows that the widely used Mirrleesian (1976) tax system cannot implement all incentive-compatible allocations. Hammond's (1979) "principle of taxation" proves that any...
Persistent link: https://www.econbiz.de/10010412846
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As easy as ABC? : multidimensional screening in public finance
Renes, Sander; Zoutman, Floris T. - 2017
We characterize the second-best allocation in a Mirrleesian optimal tax model where agents differ in multiple dimensions and the planner can tax multiple goods non-linearly. We develop a new method that allows us to solve the partial differential equations that describe the optimum regardless of...
Persistent link: https://www.econbiz.de/10011588055
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Old George Orwell got it backward : some thoughts on behavioral tax economics
Slemrod, Joel - 2009
It is entirely appropriate that the study of public finance take seriously "behavioralʺ inconsistencies with traditional models of individual and collective decision-making. This raises the question of whether the state should play a role in protecting individuals from themselves, and whether...
Persistent link: https://www.econbiz.de/10003883855
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Tax structure and government expenditures under tax equity norms
König, Tobias; Wagener, Andreas - 2010
We augment a standard tax model by concerns about tax equity: people get upset when labour is taxed more heavily than capital. Even the slightest concern for tax equity invalidates the common recommendation for small open economies that capital should remain tax-exempt. This holds for exogenous...
Persistent link: https://www.econbiz.de/10008697418