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This paper analyzes optimal linear taxes on capital and labor incomes in a life-cyclemodel of human capital investment, financial savings, and labor supply with heteroge-nous individuals. A dual income tax with a positive marginal tax rate on not onlylabor income but also capital income is...
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This paper positions time in the centre of spatial economic analysis, with a particular view on transport behaviour …. The conventional assumption is that there is for most people in our society a constant travel time budget, so that higher … would require lower levels of mobility. Recently, the scientific construct of a so-called "time pioneer" has been introduced …
Persistent link: https://www.econbiz.de/10010372859
passengers exhibit a higher time valuation, and a less price-elastic demand, than leisure passengers. Our main result is the … identification of the time-valuation effect of price discrimination, which can work in the opposite direction as the well …-known output effect on welfare. This time-valuation effect clearly explains why discriminating prices can improve welfare even when …
Persistent link: https://www.econbiz.de/10010421801
commuting costs, which encompass bothmonetary and time costs. At faster speed levels, the monetary costs increase, but the … of variabIe monetary costs to travel time costs is0.14. …
Persistent link: https://www.econbiz.de/10011338008
The value of travel time plays an important role in cost benefit analysis of infrastructureprojects. However, the issue … of uncertainty on travel times and the implications this has forestimations of travel time values has received much less … thatignoring uncertainty issues may easily lead to distorted estimates of values of travel time. Thisis of special relevance in …
Persistent link: https://www.econbiz.de/10011333900
Most evidence of hyperbolic discounting is based on violations of either stationarity or time consistency as observed … in choice experiments. These choice reversals may however also result from time-varying discount rates. Hyperbolic … discounting is a plausible explanation for choice reversals only if violations of stationarity and time consistency overlap. Our …
Persistent link: https://www.econbiz.de/10011307819
When the financial positions of pension funds worsen, regulations prescribe that pension funds reduce the gap between their assets (invested contributions) and their liabilities (accumulated pension promises). This paper quantifies the business cycle effects and distributional implications of...
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