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A Note on Revenue Forecasting During the Dukakis Administration

Feenberg, Daniel R.; Rosen, Harvey S. - 2021

Critics of Governor Michael Dukakis have suggested that this year?s $400 million overestimate of tax revenues in Massachusetts casts doubt on his putative managerial skills. In this paper, we carefully examine the entire Dukakis forecasting record. We find that the 1988 experience was "unusual?...

Persistent link: https://www.econbiz.de/10013233039

E-Ztax : Tax Salience and Tax Rates

Finkelstein, Amy - 2015

This paper tests the hypothesis that the salience of a tax system affects equilibrium tax rates. To do this, I analyze how toll rates change after toll facilities adopt electronic toll collection. Unlike manual toll collection, in which the driver must hand over cash at the toll collection...

Persistent link: https://www.econbiz.de/10012750416

Are Mutual Fund Managers Paid for Investment Skill?

Ibert, Markus - 2017

Compensation of mutual fund managers is paramount to understanding agency frictions in asset delegation. We collect a unique registry-based dataset on the compensation of Swedish mutual fund managers. We find a concave relationship between pay and revenue, in contrast to how investors compensate...

Persistent link: https://www.econbiz.de/10012957366

Tax Aversion, Deficits and the Tax Rate-Tax Revenue Relationship

Waud, Roger N. - 2021

This paper offers a possible explanation for the existence of continual government budget deficits such as experienced in a number of industrialized countries in recent years. Based on the assumption that higher tax rates cause more intensive tax-aversion behavior (tax avoidance and tax...

Persistent link: https://www.econbiz.de/10013240986

On the Possibility of an Inverse Relationship between Tax Rates and Government Revenues

Fullerton, Don - 2021

When Arthur Laffer or other "supply side advocates" plot total tax revenue as a function of a particular tax rate, he draws an upward sloping segment called the normal range, followed by a downward sloping segment called the prohibitive range. Since a given revenue can be obtained with either of...

Persistent link: https://www.econbiz.de/10013233785

Raising Revenue by Limiting Tax Expenditures

Feldstein, Martin S. - 2014

Limiting tax expenditures can raise revenue without increasing marginal tax rates. Such a policy is equivalent to reducing government spending now done as subsidies through the tax code for a wide range of household spending and income. This paper explores one way of limiting tax expenditures: a...

Persistent link: https://www.econbiz.de/10013044006

Is There Too Much Benchmarking in Asset Management?

Kashyap, Anil K.; Kovrijnykh, Natalia; Li, Jian; … - 2022

We propose a model of asset management in which benchmarking arises endogenously, and analyze its unintended welfare … prices. Benchmarking inflates asset prices and gives rise to crowded trades, thereby reducing the effectiveness of incentive … crowding, opts for less benchmarking and less incentive provision. We also show that asset management costs are lower with …

Persistent link: https://www.econbiz.de/10013291778

Firm Performance and the Volatility of Worker Earnings

Juhn, Chinhui - 2017

Using linked employer-employee data for the U.S., we examine whether shocks to firm revenues are transmitted to the earnings of continuing employees. While full insurance is rejected, the elasticity of worker earnings with respect to persistent shocks in firm revenues is small and consistent...

Persistent link: https://www.econbiz.de/10012964398

Measuring the Impact of Household Innovation Using Administrative Data

Miranda, Javier - 2018

We link USPTO patent data to U.S. Census Bureau administrative records on individuals and firms. The combined dataset provides us with a directory of patenting household inventors as well as a time-series directory of self-employed businesses tied to household innovations. We describe the...

Persistent link: https://www.econbiz.de/10012907765

Scarcity of Ideas and R&D Options : Use it, Lose it or Bank it

Erkal, Nisvan - 2014

We investigate rewards to R&D in a model where substitute ideas for innovation arrive to random recipients at random times. By foregoing investment in a current idea, society as a whole preserves an option to invest in a better idea for the same market niche, but with delay. Because successive...

Persistent link: https://www.econbiz.de/10013071185