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Although capital is now generally free to move across national borders, there is strong evidence that savings tend to …
Persistent link: https://www.econbiz.de/10012474060
This lecture examines the effects of tax policy and social security retirement benefits on capital accumulation and economic welfare. The paper begins by examining how capital income taxes reduce the real return to savers and then discusses the welfare loss of capital income taxation relative to...
Persistent link: https://www.econbiz.de/10012474022
In this survey, I summarize and evaluate the extant literature concerning taxation and personal saving. I describe the theoretical models that economists have used to depict saving decisions, and I explore the positive and normative implications of these models. The central positive question is...
Persistent link: https://www.econbiz.de/10012471740
This paper discusses recent neoclassical analyses of taxation and savings.Contrary to the popular view that fiscal … policy has highly ambiguous impacts on savings, neoclassical models admit a host of policies with clear and potentially quite … quantitative affect on savings.The essential elements of these policies involve inter- and intragenerational redistribution …
Persistent link: https://www.econbiz.de/10012477793
' associated with increasing the financing share of foreign savings. In fact, the evidence suggests the opposite: throughout the …
Persistent link: https://www.econbiz.de/10012468068
This paper is concerned with integration in the world capital market between the" economies of the core and periphery in the twentieth century. It proceeds with some general" observations and with a special focus on the case of Argentina. I will argue that understanding" the changing relations...
Persistent link: https://www.econbiz.de/10012472511
OECD countries 1992-2007. We focus on risk sharing through savings, factor income flows, and capital gains. Risk sharing …
Persistent link: https://www.econbiz.de/10012461045
This paper examines the effect of exogenous shocks to savings on world capital markets. Using the exogenous shocks to … US tax policy identified by Romer & Romer, we trace the impact of an exogenous shock to savings through the income … changes in private savings (Ricardian equivalence is not complete). We also find that only a small amount of the resulting …
Persistent link: https://www.econbiz.de/10012463537
Theory predicts that strategically-determined tax rates induce negative externalities across countries in relative …
Persistent link: https://www.econbiz.de/10012468952
Even though financial markets today show a high degree of integration, the world capital market is still far from the textbook story of high capital mobility. The failure to have a tax scheme in which the rate of returns across countries are equated can result in inefficient capital flows across...
Persistent link: https://www.econbiz.de/10012473346