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作者：Gordon, RH; Li, W
作者单位：University of Virginia; University of California System; University of California San Diego
摘要：We show that the many unusual features of China's financial markets are consistent with a government choosing regulations to maximize a standard type of social welfare function. Under certain conditions, these regulations are equivalent to imposing explicit taxes on business and interest income, yet should be much easier to enforce. The observed implicit tax rates are broadly in line with those observed in other countries. The theory also forecasts, however, that China will face increasing inc...
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作者：van Groezen, B; Leers, T; Meijdam, L
作者单位：Tilburg University; Tilburg University
摘要：This paper analyses public pensions and child support in a model with endogenous fertility. We show that the individual fertility choice may not coincide with the social optimum, due to the existence of external effects of children on society as a whole. The market outcome without government intervention is efficient, however, as the externalities exactly cancel out in that case. If the government wants to redistribute towards the old, it cannot replicate the command optimum by merely applying...
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作者：Williams, RC
作者单位：University of Texas System; University of Texas Austin; National Bureau of Economic Research
摘要：The literature on environmental taxation in the presence of pre-existing distortionary taxes has shown that interactions with these distortions tend to raise the cost of an environmental tax, and thus that the optimal environmental tax is less than marginal environmental damages. A recent paper by Schwartz and Repetto (2000) challenges this finding, arguing that the health benefits from reduced pollution will also interact with pre-existing taxes, and may cause the optimal environmental tax to...
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作者：Milligan, K
作者单位：University of Toronto; University of British Columbia
摘要：Contributions to tax-preferred savings accounts are typically constrained by a contribution limit. These limits influence contributions not only for taxpayers currently constrained by the limit, but also for those contributing less than the limit. I develop a simple life-cycle model in which taxpayers exhibit 'use it or lose it' contribution behavior. This connects current contributions to future contribution limits, and implies that an increase in contribution limits can decrease contribution...
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作者：Murdoch, JC; Sandler, T; Vijverberg, WPM
作者单位：University of Texas System; University of Texas Dallas; University of Southern California
摘要：This paper represents treaty participation as a two-stage game, for which nations first decide whether or not to participate and then they choose their level of participation. The resulting subgame perfect equilibrium is used to derive a reduced-form equation for estimating and separating the influences of the variables at the two decision stages. This spatial probit equation forms the basis for a full-information maximum likelihood estimator that accounts for the simultaneity bias associated ...
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作者：Metcalf, GE
作者单位：Tufts University; National Bureau of Economic Research
摘要：I note an important distinction between the optimal price of environmental quality in a second-best world and the optimal level of environmental quality. Using an analytical general equilibrium model, I show that for reasonable parameter values, an increase in tax distortions (arising from an increase in required tax revenues) leads to a fall in the optimal Pigouvian tax rate even while environmental quality improves. In general, knowledge of the direction of changes in optimal environmental t...
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作者：Nishimura, Y
作者单位：Queens University - Canada
摘要：This paper examines the optimal non-linear income taxation problem based on lambda-equitability. An allocation is A-equitable if no agent envies a proportion A of the bundle of any other agent. We examine the properties of Pareto undominated allocations for various lambda-equitability requirements. When there is one output, the marginal income tax rate can increase only if leisure is a luxury. In a multi-commodity model with commodity taxes, the goods preferred by the low skilled agent and/or ...
