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The Effects of Dividend Taxeson Equity Prices : A Re-Examination of the 1997 U.K. Tax Reform
Bond, Stephen - 2007
We re-examine the extent to which personal taxes on dividends are capitalized into the equity prices of domestic firms …, using data from around the time of the 1997 U.K. dividend tax reform, which removed a significant tax credit for an … dividend tax rates across all investors, and that U.K. pension funds should reduce their holdings of the previously tax …
Persistent link: https://www.econbiz.de/10014400684
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The impact of rapid aging and pension reform on savings and the labor supply : the case of China
He, Hui; Ning, Lei; Zhu, Dongming - 2019
We study, both empirically and quantitatively, the role of savings and the labor supply in self-insurance channels over the life cycle when one faces not only idiosyncratic income risks, but also changes in longevity risk and pension benefits. We pick China as a case study since China has...
Persistent link: https://www.econbiz.de/10012009609
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Reforming Capital Taxation in Italy
Eyraud, Luc - 2014
This paper reviews capital taxation issues in Italy based on a comprehensive definition encompassing taxes on income, transactions, and ownership. It discusses options to enhance the neutrality of the capital income tax system, followed by a detailed analysis of the property tax, the inheritance...
Persistent link: https://www.econbiz.de/10014394358
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Taxation Windfall Internationalization Korean Capital Markets
International Monetary Fund - 1990
The paper describes the evolution of the corporate stock and bond markets in Korea and the Government’s role in this evolution and its policy with regard to internationalization of the capital market. The paper analyzes problems encountered in gradually opening the Korean capital market to...
Persistent link: https://www.econbiz.de/10014395771
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On Noncooperative Capital Income Taxation in Open Economies
Kletzer, Kenneth - 1990
This paper discusses the strategic use of capital income taxation and lump-sum fiscal policies for gaining national advantage in an integrated world capital market. Each fiscal authority seeks to maximize a social welfare function defined over the utilities of home country residents...
Persistent link: https://www.econbiz.de/10014395775
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Risk-Taking and Optimal Taxation with Nontradable Human Capital
Hu, Zuliu - 1992
What are the effects of taxation on individual/entrepreneurs’ risk-taking behavior? This paper re-examines this old question in a continuous time life-cycle model. We demonstrate that the stream of uncertain income from human capital has systematic effects on demand for the risky physical...
Persistent link: https://www.econbiz.de/10014395838
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Corporate Income Tax Harmonization and Capital Allocation
International Monetary Fund - 1990
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...
Persistent link: https://www.econbiz.de/10014395949
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Is there a Need for Harmonizing Capital Income Taxes within EC Countries?
International Monetary Fund - 1990
This paper describes how growing economic integration within the European Community increases the scope for any one EC country to impose adverse externalities on other member countries by manipulating its capital income taxes. After examining several alternatives to concerted tax harmonization,...
Persistent link: https://www.econbiz.de/10014396066
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The Taxation of Financial Assets : A Survey of Issues and Country Experiences
King, J. R. - 1995
Taxes affect the degree and efficiency of financial intermediation in many different ways. This paper summarizes the main tax provisions in OECD countries that affect the overall “tax wedge” between pre-tax returns on investments, and the post-tax yield on the savings that finance them. This...
Persistent link: https://www.econbiz.de/10014396079
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The fiscal state-dependent effects of capital income tax cuts
Fotiou, Alexandra; Shen, Wenyi; Yang, Shu-Chun S. - 2020
Using the post-WWII data of U.S. federal corporate income tax changes, within a Smooth Transition VAR, this paper finds that the output effect of capital income tax cuts is government debt-dependent: it is less expansionary when debt is high than when it is low. To explore the mechanisms that...
Persistent link: https://www.econbiz.de/10012251390