Showing 1 - 10 of 32
It has been widely argued that inflation persistence since WWII has been widespread and durable and that it can only be accounted for by models with a high degree of nominal rigidity. We examine UK post-war data where after confirming previous studies findings of varying persistence due to...
Persistent link: https://www.econbiz.de/10003739540
Persistent link: https://www.econbiz.de/10003407959
Persistent link: https://www.econbiz.de/10003502425
Persistent link: https://www.econbiz.de/10003946915
This paper studies the effectiveness of corporate tax incentives in reducing the effective tax rate (ETR) on income from capital to stimulate business investment during economic downturns. We focus on tax rate incentives (TRIs), such as corporate tax rate cuts, and tax base incentives (TBIs),...
Persistent link: https://www.econbiz.de/10009229216
Empirical evidence suggests that the Effective Marginal Tax Rate (EMTR) on income from capital has increased considerably in both the United States and the United Kingdom over the period 1982-2005. This evidence contradicts the corporate tax literature which predicts that the EMTR should instead...
Persistent link: https://www.econbiz.de/10009229224
We investigate whether the Fiscal Theory of the Price Level (FTPL) can explain UK inflation in the 1970s. We confront the identification problem involved by setting up the FTPL as a structural model for the episode and pitting it against an alternative Orthodox model; the models have a reduced...
Persistent link: https://www.econbiz.de/10010202214
The EU protects agriculture and manufacturing through its commercial policies, namely its tariffs, its non-tariff barriers and the Common Agricultural Policy. By leaving the EU the UK would be able to abandon the EU’s protectionist system in favour of free trade combined with transitional...
Persistent link: https://www.econbiz.de/10011471570
Recent work has exposed the extent of EU protectionism within the single market Customs Union. If the UK leaves the EU customs union for unilateral free trade, as a small country within the world market, it will therefore make gains according to the standard trade model. Should it do so, trade...
Persistent link: https://www.econbiz.de/10011471738
We investigate whether the Fiscal Theory of the Price Level (FTPL) can explain UK inflation in the 1970s. We confront the identification problem involved by setting up the FTPL as a structural model for the episode and pitting it against an alternative Orthodox model; the models have a reduced...
Persistent link: https://www.econbiz.de/10010413736