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tax and to discuss what theory and evidence have told us and could tell us about these issues …
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This paper presents a new approach to the taxation of capital gains that eliminates the deferral advantage present under current realization-based systems, along with the lock-in effect and tax arbitrage possibilities associated with this deferral advantage. The new approach also taxes capital...
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This paper explores the taxation of risky assets, both from the theoretical perspective of optimal taxation and from the practical one of measuring quot;thequot; tax rate on an asset when, as under existing practice, its stochastic returns are subject to differential tax treatment across states...
Persistent link: https://www.econbiz.de/10012763102
This paper explores the portfolio behavior of investors differing with respect to both tax rates and risk-aversion, emphasizing the role of constraints on individual and firm behavior in ensuring the existence of and characterizing portfolio equilibrium. Under certain conditions on the...
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We link detailed data on defense spending, wages, hours, employment, establishments, and GDP across U.S. cities to …, the employment rate, and the labor force) and examine effects on local rental prices, wages, and firm entry. We compare … our findings with the predictions of macroeconomic models and propose modifications to existing theory that can …
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We evaluate the effects of inequality, fiscal policy, and COVID19 restrictions in a model of economic slack with potentially rigid capital operating costs. Inequality has large negative effects on output, while also diminishing the effects of demand-side fiscal stimulus. COVID restrictions can...
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