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The rise of subjective measures of well-being represents at least two important trends in the measurement of welfare or … shift away from the measurement-theoretic (or representational) approach to measurement and toward the psychometric approach …. In this chapter, I will argue that whereas orthodox economic welfare measures are based on the measurement …
Persistent link: https://www.econbiz.de/10014191026
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/10010391569
This paper investigates the impact of tax reforms on capital accumulation and welfare in both a model without habits (benchmark model) and a model with habits. In the benchmark model, the examined tax reforms generally lead to higher welfare. In contrast, in the model with habits the same tax...
Persistent link: https://www.econbiz.de/10014066171
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The rates of value added tax (VAT) have recently changed in the Czech Republic, and I simulate the impact of these reforms. They are an example of changes in indirect taxes that change the prices of goods and services, to which households can respond by adjusting their expenditures. I first...
Persistent link: https://www.econbiz.de/10010344181
Reforms of indirect taxes, such as the recent changes in rates of value added tax (VAT) in the Czech Republic, change prices of products and services to which households can respond by adjusting their expenditures. I estimate the behavioural response of consumers to price changes in the Czech...
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