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Debt and Taxes in the Theory of Public Finance

Feldstein, Martin S. - 2021

If a specified amount of government spending must be financed, how should that finance be divided between taxes and … taxes or capital income).The first section of the present paper shows how the debt-finance advantage of a small increase in …

Persistent link: https://www.econbiz.de/10013225423

The Tax Reform Act of 1986 : Comment on the 25th Anniversary

Feldstein, Martin S. - 2011

The Tax Reform Act of 1986 was a powerful pro-growth force for the American economy. Equally important, as we look back on it after 25 years, we also see that it taught us two important lessons. First, it showed that politicians with very different political philosophies on the right and on the...

Persistent link: https://www.econbiz.de/10013119339

The Output Effect of Fiscal Consolidations

Alesina, Alberto F. - 2012

The present paper argues that the correct experiment to evaluate the effects of a fiscal adjustment is the simulation of fiscal plans rather than of individual fiscal shocks. The simulation of the fiscal plans adopted by 16 OECD countries over a 30-year period supports the hypothesis that the...

Persistent link: https://www.econbiz.de/10013101511

Investment in Energy Infrastructure and the Tax Code

Metcalf, Gilbert E. - 2014

Federal tax policy provides a broad array of incentives for energy investment. I review those policies and construct estimates of marginal effective tax rates for different energy capital investments as of 2007. Effective tax rates vary widely across investment classes. I then consider...

Persistent link: https://www.econbiz.de/10013070671

Tax Policies for Low-Carbon Technologies

Metcalf, Gilbert E. - 2010

key policy goals with subsidies as opposed to using taxes to raise the price of pollution-related activities. In …

Persistent link: https://www.econbiz.de/10013152559

How Large are the Effects of Tax Changes?

Favero, Carlo A. - 2009

We use the time series of shifts in U.S. Federal tax liabilities constructed by Romer and Romer to estimate tax multipliers. Differently from the single-equation approach adopted by Romer and Romer, our estimation strategy (a Var that includes output, government spending and revenues, inflation...

Persistent link: https://www.econbiz.de/10013156671

Tax Policy and International Capital Flows

Feldstein, Martin S. - 2008

segmentation of the global capital market affects the impact of capital income taxes and subsidies. This is discussed in the final …

Persistent link: https://www.econbiz.de/10012774862

Federal Taxation and the Supply of State Debt

Metcalf, Gilbert E. - 2007

This paper presents a model of debt finance at the sub-national level from which municipal bond supply equations are derived. Federal tax considerations are shown to be important determinants of the price entering the bond supply equation. Using data on 40 state governments over a seven year...

Persistent link: https://www.econbiz.de/10012777116

Federal Tax Policy Towards Energy

Metcalf, Gilbert E. - 2007

On Aug. 8, 2005, President Bush signed the Energy Policy Act of 2005 (PL 109-58). This was the first major piece of energy legislation enacted since 1992 following five years of Congressional efforts to pass energy legislation. Among other things, the law contains tax incentives worth over $14...

Persistent link: https://www.econbiz.de/10012778276

Effects of Taxes on Economic Behavior

Feldstein, Martin S. - 2010

This paper discusses how the effects of taxes on economic behavior are important for revenue estimation, for … calculating efficiency effects, and for understanding short-term macroeconomoic consequences. The primary focus is on taxes on … labor income but some attention is given to taxes on income from saving. Specific calculations illustrate the importance of …

Persistent link: https://www.econbiz.de/10012759600