Showing 1 - 10 of 17,698
This paper studies the optimal design of differentiated consumption taxes in the presence of progressive labor income … taxes and capital income taxation. A quantitative heterogeneousagent model with non-homothetic preferences and uninsurable …. Solving the Ramsey problem in which the government jointly chooses labor income and commodity taxes, the optimal policy …
Persistent link: https://www.econbiz.de/10015445079
We document large differences between the United States and France in allocations of consumption expenditures and time by age. Using a life-cycle model, we quantify to what extent tax and transfer programs and market and home productivity can account for the differences. We find that while labor...
Persistent link: https://www.econbiz.de/10012425267
This paper provides a technical description of the overlapping generations model used by the Joint Research Centre to analyse tax policy reforms, including in particular pension and demographic issues. The main feature of the EDGE-M3 model lies in its high level of disaggregation and the close...
Persistent link: https://www.econbiz.de/10012241664
This paper investigates how government spending multipliers depend on the distribution of taxes across households. We … when financed with more progressive taxes, and zero otherwise. We rationalize this finding within a heterogeneous …-income earners. In turn, spending financed with more progressive taxes induces a smaller crowding-out, and thus larger multipliers …
Persistent link: https://www.econbiz.de/10011917433
We document that the interest rate response to fiscal stimulus (IRRF) is lower in countries with high inequality or high household debt. To interpret this evidence we develop a model in which households take on debt to maintain a consumption threshold (saving constraint). Now debt-burdened,...
Persistent link: https://www.econbiz.de/10012849875
We document that the interest rate response to fiscal stimulus (IRRF) is lower in countries with high inequality or high household debt. To interpret this evidence we develop a model in which households take on debt to maintain a consumption threshold (saving constraint). Now debt-burdened,...
Persistent link: https://www.econbiz.de/10012840260
lower taxes on heirs receiving smaller inheritances and those with moderate incomes, making the tax system better attuned to …
Persistent link: https://www.econbiz.de/10012705847
This chapter reviews the theory of the voluntary public and private redistribution of wealth elaborated by economic analysis in the last forty years or so. The central object of the theory is altruistic gift-giving, construed as benevolent voluntary redistribution of income or wealth. The theory...
Persistent link: https://www.econbiz.de/10014023678
We investigate how income inequality affects social welfare in a model of voluntary contributions to multiple pure public goods. Itaya, de Meza, and Myles (1997) show that the maximization of social welfare precludes income equality in a single pure public good model. In contrast, we show that...
Persistent link: https://www.econbiz.de/10012965708
We investigate how income inequality affects social welfare in a model of voluntary contributions to multiple pure public goods. Itaya, de Meza, and Myles (1997) show that the maximization of social welfare precludes income equality in a single pure public good model. In contrast, we show that...
Persistent link: https://www.econbiz.de/10011568762