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The Redistributional Consequences of Tax Reform Under Financial Integration
Kabukcuoglu, Ayse - İktisat Bölümü, İktisadi ve İdari Bilimler Fakültesi - 2014
I quantify the welfare effects of replacing the US capital income tax with higher labor income taxes under international financial integration using a two-country, heterogeneous-agent incomplete markets model calibrated to represent the US and the rest of the world. Short-run and long-run factor...
Persistent link: https://www.econbiz.de/10010886814
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The redistributional consequences of tax reform under financial integration
Kabukcuoglu, Ayse - Federal Reserve Bank of Dallas - 2014
I quantify the welfare effects of replacing the US capital income tax with higher labor income taxes under international financial integration using a two-country, heterogeneous-agent incomplete markets model calibrated to represent the US and the rest of the world. Short-run and long-run factor...
Persistent link: https://www.econbiz.de/10011084967
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Capital Taxes, Labor Taxes and the Household
Oikonomou, Rigas; Siegel, Christian - Business School, University of Exeter - 2014
We study the impact of capital and labor taxation in an economy where couples bargain over the intrahousehold …. Our theory motivates these gains by the empirical observation that wealth, in contrast to labor income, is a commonly held …
Persistent link: https://www.econbiz.de/10010888483
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Financial Integration and Fiscal Policy Efficiency in a Monetary Union.
Koenig, Gilbert; Zeyneloglu, Irem - Bureau d'Économie Théorique et Appliquée (BETA), … - 2007
The gap between the interest rates of different members of the European Monetary Union (EMU) points out to an imperfect degree of financial integration despite the common currency. This paper develops a two-country New Open Economy Macroeconomics (NOEM) model with imperfect financial integration...
Persistent link: https://www.econbiz.de/10005385261
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Contagion and Spillovers: New Insights from the Crisis
Backé, Peter; Feldkircher, Martin; Nieto-Parra, Sebastián - SUERF - The European Money and Finance Forum
On February 12, 2010, SUERF, the Oesterreichische Nationalbank and the Bankwissenschaftliche Gesellschaft continued their established tradition of jointly organised conferences. As evidenced also by the 115 conference participants, this year's subject of "Contagion and Spillovers – New...
Persistent link: https://www.econbiz.de/10008838228
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Optimal Fiscal Policy and Sovereign Debt: A signaling model
Sandler, Guido - Society for Economic Dynamics - SED - 2006
This paper analyzes the optimal use of fiscal policy and sovereign debt repayment as signals in an asymmetric information environment. It shows that the presence of government private information could turn an optimal full-information countercyclical fiscal policy into a pro-cyclical one that...
Persistent link: https://www.econbiz.de/10005069213
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Economic Shocks, Progressiveness of Taxation, and Indexation of Taxes and Public Expenditure in EMU
Kotilainen, Markku - Elinkeinoelämän Tutkimuslaitos (ETLA)
rates, with our main emphasis on the stabilisation properties of progressive taxation. The models try to depict outcomes for … the solution by using realistic estimates for the parameters. In the one-country model progressive taxation tends to …. Progressive taxation stabilises prices definitely only in the case of a tax shock. In the cases of demand and supply shocks, the …
Persistent link: https://www.econbiz.de/10005700318
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On the Taxation of Human and Physical Capital in Models of Endogenous Growth
Milesi-Ferretti, Gian Maria; Roubini, Nouriel - C.E.P.R. Discussion Papers - 1996
This paper studies the effects of factor income taxation and of subsidies to human capital accumulation in models of … capital accumulation can offset the direct growth effects of labour taxation, making it akin to a consumption tax. The paper … then derives the normative implications of the analysis for the optimal taxation of factor incomes, showing that all tax …
Persistent link: https://www.econbiz.de/10005114284
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Unanticipated vs. Anticipated Tax Reforms in a Two-Sector Open Economy.
Cardi, Olivier; Restout, Romain - Bureau d'Économie Théorique et Appliquée (BETA), … - 2012
We use a two-sector neoclassical open economy model with traded and non-traded goods to investigate the effects of unanticipated and anticipated tax reforms. First, an unanticipated tax reform produces an expansion of GDP, labor, and investment, while an anticipated tax reform has opposite...
Persistent link: https://www.econbiz.de/10009393017
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Sectoral Effects of Tax Reforms in an Open Economy
CARDI, Olivier; RESTOUT, Romain - Institut de Recherche Économique et Sociale (IRES), … - 2010
We use a neoclassical open economy model with traded and non traded goods to investigate the sectoral effects of three tax reforms: i) two revenue-neutral shifting the tax burden from labor to consumption taxes and ii) one labor tax restructuring keeping the marginal tax wedge constant....
Persistent link: https://www.econbiz.de/10008838088