Showing 1 - 10 of 106
obtain 8% and 1%. Dynamic scoring for the EU-14 shows that 54% of a labor tax cut and 79% of a capital tax cut are self-financing …We compare Laffer curves for labor and capital taxation for the US, the EU-14 and individual European countries, using … US can increase tax revenues by 30% by raising labor taxes and by 6% by raising capital income taxes. For the EU-14 we …
Persistent link: https://www.econbiz.de/10012463307
The importance of financial markets and international capital flows have increased greatly since the 1990s. How does …
Persistent link: https://www.econbiz.de/10012455031
We develop a rational expectations framework to study the consequences of alternative means to resolve the "unfunded liabilities'' problem---unsustainable exponential growth in federal Social Security, Medicare, and Medicaid spending with no plan to finance it. Resolution requires specifying a...
Persistent link: https://www.econbiz.de/10012462870
European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment … adjustments than other labor insurance mechanisms. Venture capital and private equity investors are especially sensitive to these … labor adjustment costs. Nations favoring labor expenditures as the mechanism for providing worker insurance developed …
Persistent link: https://www.econbiz.de/10012463023
exposures to NBFI and dollar funding, with less priority for regulations focused on residency (i.e., capital controls). After …
Persistent link: https://www.econbiz.de/10014287355
We show that firms' nominal required returns to capital (i.e., their discount rates) are sticky with respect to …
Persistent link: https://www.econbiz.de/10014512092
makers show no appetite to return to the controls on international capital flows that helped keep exchange rates stable over … capital flows and economic growth in developing countries over the past thirty years …
Persistent link: https://www.econbiz.de/10012470183
Most central banks, including the U.S. Federal Reserve System, implement their monetary policy by setting interest rates. This paper reviews the major changes that have taken place along the way from the Federal Reserve's interest rate-based policy structure of the 1960s to the interest...
Persistent link: https://www.econbiz.de/10012470684
This paper studies the relationship between inflation, output, money and interest rates in the euro area, using data spanning 1980 2000. The P* model is shown to have considerable empirical support. Thus, the price gap' or, equivalently, the real money gap' (the gap between current real balances...
Persistent link: https://www.econbiz.de/10012470705
This paper analyzes the effects of money injections on interest rates and exchange rates in a model in which agents must pay a Baumol-Tobin style fixed cost to exchange bonds and money. Asset markets are endogenously segmented because this fixed cost leads agents to trade bonds and money only...
Persistent link: https://www.econbiz.de/10012470866