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Redistributive Policies through Taxation: Theory and Evidence
GRANT, Charles; KOULOVATIANOS, Christos; MICHAELIDES, … - Department of Economics, European University Institute - 2003
inequality but also mean savings and mean consumption. This demonstrates the trade-off between equity and efficiency. These … comparatively small fall in efficiency for a given gain in equity associated with higher taxation. …-incentives. Using a heterogeneous agent model with incomplete markets, we show that higher taxes (and transfers) decrease consumption …
Persistent link: https://www.econbiz.de/10005744247
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Evidence on the insurance effect of marginal income taxes
Grant, Charles; Koulovatianos, Christos; Michaelides, … - 2008
Marginal income taxes may have an insurance effect by decreasing the effective fluctuations of after-tax individual income. By compressing the idiosyncratic component o personal income fluctuations, higher marginal taxes should be negatively correlated with the dispersion of consumption across...
Persistent link: https://www.econbiz.de/10010298389
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Evidence on the insurance effect of marginal income taxes
Grant, Charles; Koulovatianos, Christos; Michaelides, … - Center for Financial Studies - 2008
Marginal income taxes may have an insurance effect by decreasing the effective fluctuations of after-tax individual income. By compressing the idiosyncratic component o personal income fluctuations, higher marginal taxes should be negatively correlated with the dispersion of consumption across...
Persistent link: https://www.econbiz.de/10010958517
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Evidence on the Insurance Effect of Marginal Income Taxes
Grant, Charles; Koulovatianos, Christos; Michaelides, … - Center for Financial Studies - 2008
Marginal income taxes may have an insurance effect by decreasing the effective fluctuations of after-tax individual income. By compressing the idiosyncratic component o personal income fluctuations, higher marginal taxes should be negatively correlated with the dispersion of consumption across...
Persistent link: https://www.econbiz.de/10005007624
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Evidence on the Insurance Effect of Marginal Income Taxes
Grant, Charles; Koulovatianos, Christos; Michaelides, … - C.E.P.R. Discussion Papers - 2008
Marginal income taxes may have an insurance effect by decreasing the effective fluctuations of after-tax individual income. By compressing the idiosyncratic component of personal income fluctuations, higher marginal taxes should be negatively correlated with the dispersion of consumption across...
Persistent link: https://www.econbiz.de/10005114378
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Evidence on the Insurance Effect of Redistributive Taxation
Grant, Charles; Koulovatianos, Christos; Michaelides, … - Business School, University of Exeter - 2008
If households face uninsurable idiosyncratic earnings risk, theory predicts that redistributive tax and transfer systems have both an insurance and a distortionary effect. Exploiting the substantial variation of tax and transfer systems across US states we investigate the necessary traces of...
Persistent link: https://www.econbiz.de/10008852484
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Wealth Taxation of Real Estate During the Greek Crisis: The Perils of Ignoring Market Signals
Christelis, Dimitris - In: Vierteljahrshefte zur Wirtschaftsforschung 84 (2015) 3, pp. 61-83
During the Greek crisis the wealth tax on real estate (WTRE) was increased four-fold as a percentage of GDP in order to boost fiscal revenues. This increase contributed to an essentially complete freeze of the real estate market, a considerable drop in real estate prices, and a substantial...
Persistent link: https://www.econbiz.de/10011599317
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Vermögensteuer auf Immobilien: Gefahr der Vernachlässigung von Marktsignalen
Christelis, Dimitris - In: Vierteljahrshefte zur Wirtschaftsforschung 84 (2015) 4, pp. 81-103
In der griechischen Krise wurde die Vermögensteuer auf Immobilien (VSI) relativ zum Bruttoinlandsprodukt (BIP) um das Vierfache erhöht, um die Haushaltseinnahmen zu steigern. Dieser Anstieg trug zu einem fast vollständigen Einfrieren des Immobilienmarktes, zu einem Verfall der...
Persistent link: https://www.econbiz.de/10011629229
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Wealth taxation of real estate during the Greek crisis : the perils of ignoring market signals
Christelis, Dimitris - In: Vierteljahrshefte zur Wirtschaftsforschung 84 (2015) 3, pp. 61-83
During the Greek crisis the wealth tax on real estate (WTRE) was increased four-fold as a percentage of GDP in order to boost fiscal revenues. This increase contributed to an essentially complete freeze of the real estate market, a considerable drop in real estate prices, and a substantial...
Persistent link: https://www.econbiz.de/10011498233
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Vermögensteuer auf Immobilien : Gefahr der Vernachlässigung von Marktsignalen
Christelis, Dimitris - In: Vierteljahrshefte zur Wirtschaftsforschung 84 (2015) 4, pp. 81-103
In der griechischen Krise wurde die Vermögensteuer auf Immobilien (VSI) relativ zum Bruttoinlandsprodukt (BIP) um das Vierfache erhöht, um die Haushaltseinnahmen zu steigern. Dieser Anstieg trug zu einem fast vollständigen Einfrieren des Immobilienmarktes, zu einem Verfall der...
Persistent link: https://www.econbiz.de/10011498910