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We characterize the Laffer curves for labor taxation and capital income taxation quantitatively for the US, the EU-14 … benchmark parameters, we find that the US can increase tax revenues by 30% by raising labor taxes and 6% by raising capital … income taxes. For the EU-14 we obtain 8% and 1%. Denmark and Sweden are on the wrong side of the Laffer curve for capital …
Persistent link: https://www.econbiz.de/10003972665
This paper analyzes the role of nominal assets in ranking intertemporal budget policies in a growing open economy. The budget policies are ranked in terms of the public's intertemporal stock of tax liabilities. Our main result is that, in a small open economy, the valuation of private and public...
Persistent link: https://www.econbiz.de/10009724427
In 2011, the publicly held debt-to-GDP ratio in the United States reached 68% and is expected to continue rising. Many proposals to curb the government deficit and the resulting debt are being discussed. In this paper, we use the standard neoclassical growth model to examine the future path of...
Persistent link: https://www.econbiz.de/10010239323
Persistent link: https://www.econbiz.de/10010336438
government policy instruments on the long term fiscal liability. In particular, shifts in capital income taxes can lead to … parameter values, the capital income tax alone cannot balance the intertemporal budget. -- government budget constraint … ; nominal assets ; capital income tax …
Persistent link: https://www.econbiz.de/10009686208
Persistent link: https://www.econbiz.de/10011295383
Persistent link: https://www.econbiz.de/10002610525
Persistent link: https://www.econbiz.de/10001237662
government policy instruments on the long term fiscal liability. In particular, shifts in capital income taxes can lead to …, the capital income tax alone cannot balance the intertemporal budget …
Persistent link: https://www.econbiz.de/10013037984
Persistent link: https://www.econbiz.de/10011592918