-
作者：Low, H; Maldoom, D
作者单位：University of Cambridge
摘要：This paper analyses optimal income taxation as a trade-off between the incentive effects of increased uncertainty and the welfare benefits of social insurance. Greater prudence increases labour supply because of precautionary incentive effects which reduce the progressivity of the optimal income tax schedule. Increased uncertainty increases progressivity of the income tax schedule because of a greater value of social insurance. Optimal tax progressivity depends on the ratio of prudence to risk...
-
作者：Shapiro, J
作者单位：Pompeu Fabra University
摘要：A new model of wage dispersion is used to examine welfare aspects of income taxation. The model retains the dynamics of wage posting models while exogenizing search effort, therefore allowing more insight into policy issues. The results highlight effects that standard analyses do not take into account. The optimal income tax should depend on an incidence effect between workers and firms. This incidence effect arises from firms trying to lower wages as much as possible. An employment tax proves...
-
作者：Knight, B
作者单位：Brown University
摘要：Local public goods financed from a national tax base provide concentrated benefits to recipient jurisdictions but disperse costs, creating incentives for legislators to increase own-district spending but to restrain aggregate spending due to the associated tax costs. While these common pool incentives underpin a variety of theoretical analyses, which tend to predict inefficiencies in the allocation of public goods, there is little direct evidence that individual legislators respond to such inc...
-
作者：Saez, E
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：Optimal tax theory has shown that, under simple assumptions, indirect taxation such as production subsidies, tariffs, or differentiated commodity taxation, are sub-optimal and that redistribution should be achieved solely with the direct income tax. However, these important results of optimal tax theory, namely production efficiency and uniform commodity taxation under nonlinear income taxation, have been shown to break down when labor taxation is based on income only and when there is imperfe...
-
作者：Caillaud, B; Tirole, J
作者单位：Centre National de la Recherche Scientifique (CNRS); Institut Polytechnique de Paris; Ecole des Ponts ParisTech; Massachusetts Institute of Technology (MIT)
摘要：The paper analyzes the funding of an infrastructure project when an incumbent operator has private information about market profitability and the regulator does not have access to taxpayers' money. An open access policy raises welfare, but may make the project non-viable since funding must be provided by operators' capital contributions. We characterize the optimal market structure. The regulator can ask the incumbent to bear a higher share of investment cost if the latter insists on an exclus...
-
作者：Sheshinski, E
作者单位：Hebrew University of Jerusalem
摘要：It has been argued that in the presence of an 'Atmosphere Externality' and competitive behavior by households, a uniform commodity tax on the extemality-generating good attains the first best. It is demonstrated, however, that if income redistribution is desirable then personalized taxes are required for a second-best optimum. Each of these taxes is the sum of a uniform (across households) tax and a component, positive or negative, which depends on the household's income and demand elasticitie...
-
作者：Gersbach, H; Requate, T
作者单位：University of Kiel; Ruprecht Karls University Heidelberg
摘要：We examine how refunding emission taxes to firms dependent on market shares should be designed. While refunding is harmful under perfect competition, a first-best self-financing tax/tax-refunding scheme exists if the marginal damage from pollution exceeds the marginal distortion in an imperfectly competitive output market with symmetric firms. Under pre-investment in cleaner technology with short-term abatement opportunities, a first-best refunding scheme exists if pollution refunding can be m...
-
作者：Palacios-Huerta, I; Santos, TJ
作者单位：Brown University; University of Chicago
摘要：The endogeneity of preferences implies that not only individual preferences-along with technologies, government policies, and the organization of society and markets-determine economic outcomes, but also that the economic, social, legal, and cultural structure of society affects preferences. This paper develops a general equilibrium model of incomplete markets in which preferences are endogenously determined. The key feature in the model is the interplay between the extent of the market, compe...
-
作者：Kleven, HJ
作者单位：University of Copenhagen
摘要：A theory of optimal taxation is presented, building upon Becker's (1965) theory of the allocation of time. Optimal commodity taxation is governed by factor shares in household activities. Any market good which requires little household time, or even saves time, should carry a relatively low tax rate. This policy rule does not require the estimation of price elasticities and is therefore more applicable than traditional Ramsey rule taxation. (C) 2003 Elsevier B.V. All rights reserved.
-
作者：Goolsbee, A
作者单位：University of Chicago; National Bureau of Economic Research
摘要：This paper shows that tax policy toward investment, by changing the relative prices of capital varieties even within narrow classes of equipment, can have a direct effect on the quality composition of capital goods that firms purchase. Detailed data on farming, mining, and construction machinery suggest that this impact is economically important. Finns significantly shift investment toward higher quality varieties when they receive investment subsidies (and do not do so when investment is high...
