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Allen, Treb - 2015

What is the best way to reduce trade frictions when resources are scarce? To answer this question, we develop a framework that nests previous general equilibrium gravity models and show that the macro-economic implications of these various models depend crucially on two key model parameters,...

Persistent link: https://www.econbiz.de/10013031213

Trade, Diffusion and the Gains from Openness

Rodríguez-Clare, Andrés - 2012

Building on Eaton and Kortum's (2002) model of Ricardian trade, Alvarez and Lucas (2005) calculate that a small country representing 1% of the world's GDP experiences a gain of 41% as it goes from autarky to frictionless trade with the rest of the world. But the gains from openness, which...

Persistent link: https://www.econbiz.de/10012755278

Numerical General Equilibrium Analysis of China's Impacts from Possible Mega Trade Deals

Li, Chunding - 2014

This paper explores the potential impacts on both China and other major countries of possible mega trade deals. These include the Trans-Pacific Partnership (TPP), the Regional Comprehensive Economic Partnership (RCEP), and various blocked deals. We use a numerical 13-country global general...

Persistent link: https://www.econbiz.de/10013048108

A Theory of Optimal Capital Taxation

Piketty, Thomas - 2012

This paper develops a realistic, tractable theoretical model that can be used to investigate socially-optimal capital taxation. We present a dynamic model of savings and bequests with heterogeneous random tastes for bequests to children and for wealth per se. We derive formulas for optimal tax...

Persistent link: https://www.econbiz.de/10013107763

Capital Income Taxes with Heterogeneous Discount Rates

Diamond, Peter A. - 2010

With heterogeneity in both skills and discount factors, the Atkinson-Stiglitz theorem that savings should not be taxed does not hold. We consider a model with heterogeneity of preferences at each earnings level. With some assumptions on the equilibrium, a small savings tax on high earners and a...

Persistent link: https://www.econbiz.de/10013152380

The Welfare Effects of a Capital Income Tax in an Open Economy

Hartman, David G. - 2021

International capital mobility has typically been ignored in discussions of the welfare effects of the capital income … international capital flows, there can be little disagreement that international ownership of capital is an important and growing … reality. With this modification in emphasis, a simple graphical analysis is sufficient to indicate that international capital …

Persistent link: https://www.econbiz.de/10013236725

Trading with the Unborn : A New Perspective on Capital Income Taxation

Smetters, Kent A. - 2021

Security markets between generations are incomplete due to a biological trading constraint' that prevents living generations from negotiating contingent contracts with the unborn. This paper shows, however, that government policy can be used to replicate the trades that would have occurred if...

Persistent link: https://www.econbiz.de/10013212341

Capital Income Taxes and the Benefit of Price Stability

Feldstein, Martin S. - 2000

Going from low inflation to price stability involves a short term loss (associated with the" higher unemployment rate required to reduce the inflation) and results in a series of welfare gains" in all future years. The primary source of these gains is the reduction in the distortions that...

Persistent link: https://www.econbiz.de/10014158369

The Deadweight Loss from `Non-Neutral' Capital Income Taxation

Auerbach, Alan J. - 2021

This paper develops an overlapping generations general equilibrium growth model with an explicit characterization of the role of capital goods in the production process. The model is rich enough in structure to evaluate and measure simultaneously the different distortions associated with capital...

Persistent link: https://www.econbiz.de/10013228635

Taxing Multinationals

Devereux, Michael P.; Hubbard, R. Glenn - 2021

This paper analyzes the effects of tax policy on the strategic choices of a domestic multinational company competing with a foreign multinational company in a third country. We demonstrate the role of the effective average tax rate and the effective marginal tax rate on the company's choices. We...

Persistent link: https://www.econbiz.de/10013215345

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