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Optimal Policy with Heterogeneous Preferences
Kaplow, Louis - National Bureau of Economic Research (NBER) - 2008
Optimal policy rules--including those regarding income taxation, commodity taxation, public goods, and externalities--are typically derived in models with homogeneous preferences. This article reconsiders many central results for the case in which preferences for commodities, public goods, and...
Persistent link: https://www.econbiz.de/10005084879
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Income Inequality and Social Preferences for Redistribution and Compensation Differentials
Kerr, William R. - National Bureau of Economic Research (NBER) - 2011
-led redistribution and greater acceptance of wage inequality (e.g., United States versus Western Europe). If individual nations evolve …-led redistribution to the poor. These patterns suggest that short-run inequality shocks can be reinforced in the labor market but do not … result in weaker political preferences for redistribution. …
Persistent link: https://www.econbiz.de/10009395461
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An Optimal Tax System
Kaplow, Louis - National Bureau of Economic Research (NBER) - 2011
A notable feature and principal virtue of Tax by Design is its system-wide perspective on different elements of the tax system. This review essay builds on this trait and offers a more explicit foundation for the report's general approach, drawing on a distribution-neutral methodology that is...
Persistent link: https://www.econbiz.de/10009226936
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On the Taxation of Private Transfers
Kaplow, Louis - National Bureau of Economic Research (NBER) - 2010
This essay considers the appropriate conceptual framework for assessing the taxation of private transfers to individuals. Although it is conventional to emphasize the role of estate and gift taxation or inheritance taxation in redistributing income from the rich to the poor, the revenue effects...
Persistent link: https://www.econbiz.de/10008628358
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Capital Levies and Transition to a Consumption Tax
Kaplow, Louis - National Bureau of Economic Research (NBER) - 2006
The merits of capital levies depend on the likelihood of repetition, the extent of anticipation, and its effects on distribution. The relevance of these features, which in varying degrees is underdeveloped or underappreciated in pertinent literatures, is elaborated and then considered with...
Persistent link: https://www.econbiz.de/10005830739
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Discounting Dollars, Discounting Lives: Intergenerational Distributive Justice and Efficiency
Kaplow, Louis - National Bureau of Economic Research (NBER) - 2006
The view that intergenerational distributive justice and efficiency should be treated separately is familiar, yet controversial. This article elaborates the often-implicit justifications for separate treatment and provides a more express statement of how and when such treatment is appropriate....
Persistent link: https://www.econbiz.de/10005248951
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Regional Cost-of-Living Adjustments in Tax-Transfer Schemes
Kaplow, Louis - National Bureau of Economic Research (NBER) - 1995
The federal income tax and major welfare programs do not take into account significant cost-of-living variations among regions. This article considers what adjustments might be appropriate in light of the distributive purposes of tax and welfare systems and concerns about the efficiency of the...
Persistent link: https://www.econbiz.de/10005828434
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Optimal Taxation with Endogenous Insurance Markets
Golosov, Mikhail; Tsyvinski, Aleh - National Bureau of Economic Research (NBER) - 2005
We study optimal tax policy in a dynamic private information economy with endogenous private markets. We characterize efficient allocations and competitive equilibria. A standard assumption in the literature is that trades are observable by all agents. We show that in such an environment the...
Persistent link: https://www.econbiz.de/10005049827
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How Important Are Perpetual Tax Savings?
Hines, James R. Hines, Jr. - National Bureau of Economic Research (NBER) - 2012
Federal estate taxes give very wealthy families incentives to transfer resources directly to distant generations in order to avoid taxes on successive rounds of transfers. Until recently such transfers were impeded by the rule against perpetuities, which prevented transfers to most potential...
Persistent link: https://www.econbiz.de/10010969218
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Dividends, Share Repurchases, and Tax Clienteles: Evidence from the 2003 Reductions in Shareholder Taxes
Shackelford, Douglas A.; Blouin, Jennifer; Raedy, Jana - National Bureau of Economic Research (NBER) - 2010
This paper jointly evaluates firm-level changes in investor composition and shareholder distributions following a 2003 reduction in the dividend and capital gains tax rates for individuals. We find that directors and officers, but not other individual investors, rebalanced their portfolios to...
Persistent link: https://www.econbiz.de/10008628346