This paper evaluates a novel form of fiscal stimulus: a temporary cut in the rate of Value Added Tax (VAT). In December … bring forward their purchases and we find a significant fall in sales after the VAT cut ended. Thus an indirect tax cut …

We study the effect of tax policy on stock market returns in the United States, Germany, and the United Kingdom using … GARCH models and a unique daily dataset of legislative tax changes during the period 1 December 1978 to 31 January 2018. We … find that days of discretionary tax legislation during all stages of the process often matter for returns, both in terms of …

Standard economic theory implies that the labelling of cash transfers or cash-equivalents (e.g. child benefits, food …

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 … one tax system. However, this tax system is often undesirable since it severely restricts the choice space of agents in …

In this paper we provide an overview of the literature relating labour supply to taxes and welfare benefits with a … free choice over their hours of work. We then consider fixed costs of work, the complications introduced by the benefits … work is that in order to estimate the impact of tax reform and be able to generalise results, a structural approach that …

the lowest earnings capacity, the tax and benefits system does achieve life-cycle redistribution. Other policies like … blocks of lifetime disparities. We look at lifetime inequality and the redistribution properties of taxes and benefits using … system and is estimated on UK longitudinal data covering the 1990s and early 2000s. We show that the tax and benefits system …

-contingent transfers, and increases in higher rates of income tax over the whole of life. We find that, in contrast to what is implied by … standard snapshot analyses, increases to work-contingent benefits are just as effective at redistributing resources to the … lifetime poor as increases to out-of-work benefits. This has important implications for the equity-efficiency trade …

in the UK context: (i) changes to out-of-work versus in-work benefits, (ii) adjustments to income tax rates, and (iii …The distributional impact of proposed reforms plays a central role in public debates around tax and transfer policy. We …-cycle greatly affects our assessment of the distributional effects of tax and transfer reforms. We focus on three reforms modelled …

Gender differences in voting patterns and political attitudes towards redistribution are well-documented. The … experiments on preferences for redistribution conducted in the U.S. and several European countries to disentangle these potential … mechanisms. We find that when choosing to redistribute income as a disinterested observer, women choose higher tax rates than men …

issue by estimating “unexplained” changes in tax and social contribution revenues, based on proxies for tax revenue bases … same exercise using alternative tax base proxies, either taken from forecasting models or on the basis of our knowledge of … the tax system in each country. The results show that, in the aggregate, revenue windfalls and shortfalls have exhibited a …