Showing 1 - 10 of 7,085
Recent estimates of the potential growth effects of tax reform vary widely, ranging from zero (Lucas 1990) to eight percentage points (Jones, Manuelli, and Rossi 1993). Using an endogenous growth model, we assess which model features and parameter values are important for determining the...
Persistent link: https://www.econbiz.de/10012474524
The theory of optimal taxation has , for the pas two decades , been the reigning normative approach of taxation. This … paper argues that , in its current state, optimal tax theory is incomplete as a guide to action concerning many critical … paper first presents the three cornerstone propositions of optimal tax theory, and then it discusses the influence of these …
Persistent link: https://www.econbiz.de/10012476010
Various tax policies provide consumers with forms of insurance. Social security has the payoff characteristics of an annuity. The income tax provides consumers with a degree of Income insurance because the government shares part of the individual's income risk. Redistributive taxes can be used...
Persistent link: https://www.econbiz.de/10012476549
This paper deals with the international effects of budget deficits arising from distortionary tax and transfer policies. The analysis demonstrates that the consequences of tax policies and the characteristics of the international transmission mechanism depend critically on the precise...
Persistent link: https://www.econbiz.de/10012476990
The idea that marginal tax rates and tax revenue may be inversely related is at least as old as Adam Smith's Wealth of Nations. The emergence of the "Laffer Curve" in the modern public debate on the subject has rekindled interestin this idea. The present paper uses data from the 1982 tax rate...
Persistent link: https://www.econbiz.de/10012477318
This paper analyzes the effect of taxation on the intertemporal allocation of an exhaustible resource. A general framework within which a large variety of taxes can be analyzed is developed and then applied to a number of specific taxes. It is shown that there exists a pattern of taxation which...
Persistent link: https://www.econbiz.de/10012478709
In economic analyses of the effects of tax policies, one commonly encounters discussions of the equivalence of apparently different policies, where equivalence is defined as the policies having the same impact on fundamental economic outcomes. These related tax policies may differ in many...
Persistent link: https://www.econbiz.de/10012480810
This Handbook entry presents a conceptual, normative overview of the subject of taxation. It emphasizes the relationships among the main functions of taxation -- notably, raising revenue, redistributing income, and correcting externalities -- and the mapping between these functions and various...
Persistent link: https://www.econbiz.de/10012466608
The theory of international macroeconomics shows that domestic tax policy in a global economy affects foreign economic … a tractable quantitative framework for assessing tax policies that is consistent with this theory. The significance of …
Persistent link: https://www.econbiz.de/10012470507
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/10012470817