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Economides, George; Philippopoulos, Apostolis - 2012

excludable public goods into a model with consumption and income taxes. The setup is a neoclassical growth model where agents …

Persistent link: https://www.econbiz.de/10010283625

The bequest tax as long-term care insurance

Brunner, Johann K. - 2012

causes a smaller deadweight loss than an income or consumption tax. I also characterize the optimal tax and transfer system …

Persistent link: https://www.econbiz.de/10010283626

Long-term care policy, myopia and redistribution

Cremer, Helmuth; Roeder, Kerstin - 2012

This paper examines whether myopia (misperception of the long-term care (LTC) risk) and private insurance market loading costs can justify social LTC insurance and/or the subsidization of private insurance. We use a two-period model wherein individuals differ in three unobservable...

Persistent link: https://www.econbiz.de/10010283627

Investment and financing strategy of a multinational enterprise under alternative tax designs

Gérard, Marcel; Princen, Savina - 2012

Allowance for Corporate Equity (ACE) and Comprehensive Business Income Tax (CBIT). Finally, we leave systems based on Separate …

Persistent link: https://www.econbiz.de/10010283628

Robust standard errors in transformed likelihood estimation of dynamic panel data models

Hayakawa, Kazuhiko; Pesaran, M. Hashem - 2012

This paper extends the transformed maximum likelihood approach for estimation of dynamic panel data models by Hsiao, Pesaran, and Tahmiscioglu (2002) to the case where the errors are cross-sectionally heteroskedastic. This extension is not trivial due to the incidental parameters problem that...

Persistent link: https://www.econbiz.de/10010283629

Prediction markets for economic forecasting

Snowberg, Erik; Wolfers, Justin; Zitzewitz, Eric - 2012

Prediction markets - markets used to forecast future events - have been used to accurately forecast the outcome of political contests, sporting events, and, occasionally, economic outcomes. This chapter summarizes the latest research on prediction markets in order to further their utilization by...

Persistent link: https://www.econbiz.de/10010283631

Adaptation, anticipation-bias and optimal income taxation

Aronsson, Thomas; Schöb, Ronnie - 2012

leads individuals to make inefficient intertemporal decisions. This paper concerns optimal income taxation to correct for …-bias through a combination of time-variant marginal labor income taxes and savings subsidies. Furthermore, the optimal policy mix …

Persistent link: https://www.econbiz.de/10010283632

Does high-skilled migration affect publicly financed investments?

Grossmann, Volker; Stadelmann, David - 2012

subsequent emigration. Migration decisions are based on differences in net income across jurisdictions which may occur … endogenously. The interaction between income differences and migration flows gives rise to the potential of multiple equilibria: a … symmetric equilibrium without migration and an asymmetric equilibrium in which net income levels differ among jurisdictions and …

Persistent link: https://www.econbiz.de/10010283934

Optimal fiscal devaluation

Langot, François; Patureau, Lise; Sopraseuth, Thepthida - 2012

We study fiscal devaluation in a small-open economy with labor market search frictions. Our analysis shows the key role of both dimensions in shaping the optimal tax scheme. By reducing labor market distortions, the tax reform is welfare-improving. Yet, as it makes imports more expensive, fiscal...

Persistent link: https://www.econbiz.de/10010283944

A theory of child adoption

Bethmann, Dirk; Kvasnicka, Michael - 2012

Women can bear own children or adopt them. Extending economic theories of fertility, we provide a first theoretical treatment of the demand for adoption. We show that the propensity to adopt a child increases in the degree of own altruism, infertility, relatedness to the child, costs of own...

Persistent link: https://www.econbiz.de/10010283945