This paper examines the welfare consequences of changing the current U.S. income tax system to a progressive consumption tax. We compute a sequence of single period equilibria in which savings decisions depend on the expected future return to capital. In the presence of existing income taxes,...

This paper examines the welfare consequences of changing the current U.S. income tax system to a progressive consumption tax. We compute a sequence of single period equilibria in which savings decisions depend on the expected future return to capital. In the presence of existing income taxes,...

This paper utilizes a simple general-equilibrium model to analyse the long-run effects of Bulgaria's 2007-08 corporate-personal income tax reforms. In particular, we consider the effect working through the firm's capital structure, and argue that the new reforms incentivize firms to increase...

This paper examines the short- and long-run behavior of tax receipts with regard to their tax bases. In addition, the possibility of asymmetries in tax responses is explicitly included. The methodology is applied to the three main tax categories in the Netherlands for the period 1971-2005, after...