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We introduce tax competition for mobile labor into an optimal-taxation model with two skill levels. We analyze a symmetric subgame-perfect Nash equilibrium of the game between two governments and two taxpayer populations. Tax competition reduces the distortion from the informational asymmetry...
Persistent link: https://www.econbiz.de/10003982002
According to conventional wisdom internationally mobile capital should not be taxed or should be taxed at a lower rate than labour. An important underlying assumption behind this view is that there are no market imperfections, in particular that labour markets clear competitively. At least for...
Persistent link: https://www.econbiz.de/10013321161
In this paper, we investigate the optimal taxation policy in a differential oligopoly game where the competing firms share the access to a productive renewable resource. We show that, in a linear Feedback Nash Equilibrium of the game, a linear Markov tax, imposed on the output, and specified as...
Persistent link: https://www.econbiz.de/10012930240
Compared with the traditional public-finance approach of a monolithic fully informed planner, earmarking of taxation is less likely to be optimal if a principal-agent setting is considered, where taxing and spending are performed by two separate agents which are monitored by the parliament. We...
Persistent link: https://www.econbiz.de/10013321381
This paper examines a dynamic stochastic economy with a benevolent government that cannot commit to its future policies. I consider equilibria that are time-consistent and allow for history-dependent strategies. A new numerical algorithm is developed to solve for the set of equilibrium payoffs....
Persistent link: https://www.econbiz.de/10011757665
Adam S. Wallwork is an Attorney in the New York City office of Osler, Hoskin & Harcourt LLC, where his practice focuses on federal income taxation. Mr. Wallwork provides a novel look at the Tax Court's doctrine of preparer fraud, which recently provoked a circuit split. He shows that that...
Persistent link: https://www.econbiz.de/10012986892
Forty-two percent of Americans give different answers when asked, respectively, about the reasons for being rich and the reasons for being poor. We develop and test a theo-ry about support for redistribution in the presence of target-specific beliefs about the causes of low and high incomes. Our...
Persistent link: https://www.econbiz.de/10011993478
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