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作者：Drèze, J
作者单位：Delhi School of Economics
摘要：When the unweighted sum of net benefits from a project are used as a criterion of project evaluation, cost-benefit analysis may be sensitive to the choice of numeraire. This is one reason, among others, why this criterion should not be used. There is no plausible alternative to the use of distributional weights. (C) 1998 Elsevier Science S.A. All rights reserved.
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作者：Johansson, PO
作者单位：Stockholm School of Economics
摘要：Brekke [Brekke (1997) Journal of Public Economics 64, 117-123] claims that using money as the numeraire in cost-benefit analysis is systematically favourable to those who value money the least, relative to alternative numeraires. This note attempts to show that the outcome of a properly undertaken cost-benefit analysis is independent of the choice of numeraire. However, since the marginal social utility of income (or, say, an environmental good) is unobservable, one faces a formidable problem ...
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作者：Anderson, SP; Goeree, JK; Holt, CA
作者单位：University of Virginia
摘要：We formalize an equilibrium model in which altruism and decision-error parameters determine the distribution of contributions for linear and quadratic public goods games. The equilibrium density is exponential for linear games, and normal for quadratic games. Our model implies: (i) contributions increase with the marginal value of the public good, (ii) total contributions increase with the number of participants, (iii) mean contributions lie between the Nash prediction and half the endowment. ...
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作者：Strumpf, KS
作者单位：University of North Carolina; University of North Carolina Chapel Hill
摘要：It is well established that lump-sum public grants boost local government spending more than an equivalent increase in private income, the flypaper effect. One shortcoming of the related literature is that it presumes all communities have an identical propensity to consume from an intergovernmental grant. This paper is one attempt to allow for a heterogeneous response. The working conjecture is that government expenditure on administrative overhead is a gauge of voter control over fiscal decis...
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作者：Grubert, H
作者单位：United States Department of the Treasury
摘要：How do taxes influence the way U.S. corporations divide foreign affiliate operating income among royalties, dividends, interest, and retained earnings? The paper goes beyond previous work that focused largely on dividend repatriation behavior, and provides a comprehensive analysis of the disposition of foreign subsidiary operating income. The empirical results show that taxes have a large and statistically significant effect on the composition of payments. Own tax prices discourage the payment...
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作者：Asea, PK; Turnovsky, SJ
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; University of Washington; University of Washington Seattle
摘要：How do capital income taxes affect household portfolio choice and growth? We approach this question within the context of a stochastic model of a small open economy in which taxes on income from domestic capital (equity) and foreign bonds affect household portfolio choice, welfare and the growth rate of the economy. The theoretical and numerical analysis demonstrates the important role that risk plays in determining the mean and variability of growth as well as the conditions under which a hig...
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作者：Kim, J
摘要：When housing in a local jurisdiction is produced using perfectly mobile capital and land owned by non-residents, a property tax on housing results in tax exporting. This paper examines how property tax-poll subsidy policies are determined in the presence of tax exporting, and shows that the optimal property tax is the optimal tariff when residents are homogeneous, When residents have different incomes and are mobile across jurisdictions, the majority voting equilibrium property tax-poll subsid...
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作者：Brekke, KA
作者单位：Statistics Norway; University of Oslo
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作者：Benchekroun, H; van Long, N
作者单位：Universite de Montreal; McGill University; Laval University; Concordia University - Canada
摘要：We show that there exists a time-independent tax rule that guides polluting oligopolists to achieve the socially optimum production path. The optimal tax is dependent on the current pollution stock, and it may be negative when the pollution stock is low. A surprising result is that the optimal tax rule may give firms a subsidy for an initial time interval even though under laissez-faire their output always exceeds the socially optimal output. This subsidy, however, induces firms to produce les...
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作者：Alvarez, LHR; Kanniainen, V; Sodersten, J
作者单位：Uppsala University; University of Turku; University of Helsinki
摘要：The anticipatory effects of a corporate tax reform of the tax-cut cum base-broadening variety are analyzed in a dynamic stochastic adjustment model of firm behavior, focusing on the case where the firm is uncertain both about the timing and the contents of the expected reform. The value of the firm is solved prior to and after the reform. The existence of investment spurts prior to the implementation of the tax reform is established. Rigorous results are derived under constant returns and the ...
