knowledge trans- mission. Fiscal policy affects growth in two respects: .rst, work time reacts to variations of prospective tax … capital through increased savings. It is shown that Ramsey-optimal policies reduce savings due to high tax rates on young … higher with respect to a private system, and there generally exists a continuum of non-optimal tax rates under which long …

The authors provide empirical evidence on the dynamic effects of tax liability changes in the United States. We … distinguish between surprise and anticipated tax changes using a timing convention. We document that pre-announced but not yet … implemented tax cuts give rise to contractions in output, investment and hours worked, while real wages increase. In contrast …

-Economic Panel Study (SOEP) and process-produced microdata from the German pension insurance. A microsimulation model is developed …

poverty effects of alternative policies are analyzed thanks to counterfactual simulations built using a micro-simulation model …In-work transfers are often seen as a good trade-off between redistribution and efficiency, as they alleviate poverty … existing scheme, the Family Income Supplement (FIS), and of its replacement by the refundable tax credit in force in the UK …