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 …

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 …

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 …

We estimate the elasticities of the most important tax categories using a new quarterly database of discretionary tax … the UK, long-term tax-to-base elasticities are generally higher than short-term elasticities, whereas results for the US … close to unity. (iii) German and UK tax-to-output elasticities in the short term are lower than long-term elasticities, with …

workers by legal ones if the former are characterized by lower tax benefit ratios or if over-qualification among unauthorized …

changes on the intrahousehold allocation of income. We also simulate the consequences of a policy change in the tax system. We … spouses. These differences in outcomes have consequences for the evaluation of policy changes in the tax system and shed light …

implement equity and insurance contracts through thetax system using a graduate tax. This paper shows that public …

affect behavior. The data are from an administrative Swedish source that retains wealth information from tax registers. The …

positive tax on capital income is part of a Pareto-efficient dual income tax structure. We write optimal tax rates on capital … simulations for empirically plausible return heterogeneity suggest that optimal marginal tax rates on capital income are positive …

We analyze the optimal nonlinear income tax schedule when taxpayers earn multiple in- comes and differ along many … unobserved dimensions. We derive the necessary conditions for the government's optimum using both a tax perturbation and a … method to find the optimal tax schedule. Applied to the optimal taxation of couples, we find that optimal isotax curves are …