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作者：Eeckhoudt, L; Gollier, C; Schlesinger, H
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Universite de Toulouse; Universite Toulouse 1 Capitole; University of Alabama System; University of Alabama Tuscaloosa
摘要：This paper examines how discrete tax brackets induce an otherwise risk-neutral firm to behave in a very specific risk-averse manner. We show how the firm's investment decisions relate to various factors, such as other firm revenue,tax rates, tax exemption levels and project risk. In particular, such a firm is shown to exhibit first-order risk aversion, with a possible zero demand for a risky investment, even when the expected excess return is positive. Firm behavior displays risk aversion that...
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作者：Hoyne, HW
摘要：Previous studies have examined whether the welfare system has contributed to the dramatic increase in single-parent families. This paper explores why the results in this literature are sensitive to the presence of state fixed effects. It considers one natural explanation, namely that the composition of the population differs across states in ways that are related to welfare program generosity. After controlling for individual effects the results provide no evidence that welfare raises the prop...
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作者：Palmer, K; Walls, M
作者单位：Resources for the Future; Victoria University Wellington
摘要：Pricing trash collection and disposal services can be politically unpopular and may lead to increased illegal disposal of trash. Several studies have shown that deposit-refund systems can act like disposal charges without the illegal disposal problem and thus can generate an optimal amount of solid waste disposal. We assess the efficiency implications of an alternative policy currently in use in some states in the U.S. and considered at the federal level, recycled content standards. These are ...
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作者：Bond, EW; Crocker, KJ
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of Michigan System; University of Michigan
摘要：We examine an environment of costly state verification in which insureds possess private information about the magnitude of an insurable loss. Insurers can verify the actual loss suffered only by incurring a positive resource cost, and insureds may engage in evasive activities that, while privately costly, increase the costs of verification and may lead to more generous settlements. Optimal insurance contracts are shown to mitigate the incentives to evade by a combination of incentives, which ...
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作者：Konan, DE
摘要：This paper analyzes the social welfare effects of multinational enterprise taxation by home and host governments. In a general equilibrium model, direct foreign investment arises to employ a firm-specific asset abroad. Either a tax credit or deduction for foreign taxes paid results in the host fully taxing locally earned economic profits. Welfare, endogenous market structure, and profit results are identical in tax credit and deduction regimes. Because it lowers host government taxation in the...
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作者：Lagerlof, NP
摘要：Many of the results in Nishimura and Zhang (1992) and in Zhang and Nishimura (1993) are incorrect, since the authors assume interior solutions to many of the utility maximization problems, when corner solutions yield higher utility. This note proves, inter alia, that fertility and saving cannot both be positive in the optimal steady state.
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作者：Johannesson, M; Johansson, PO
作者单位：Stockholm School of Economics
摘要：In this study we report an attempt to measure the value adult Swedes impute to an increased survival probability at high ages. A rating scale between the worst possible quality of life (=1) and the best possible quality of life (=10) is used to indicate the quality of life a person expects to achieve at an advanced age. We find a highly significant correlation between this quality measure and the insurance premium a person is willing to pay in exchange for a programme increasing the expected l...
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作者：Gordon, RH; Nielsen, SB
作者单位：Copenhagen Business School; University of Michigan System; University of Michigan
摘要：Ignoring tax evasion possibilities, a value-added and a cash-flow income tax have similar behavioral and distributional consequences. Yet the available means of tax evasion under each can be very different. Under a VAT, avoidance occurs through cross-border shopping, whereas under an income tax it can occur through shifting taxable income abroad. Given evasion, we show that a country would make use of both taxes in order to minimize the efficiency costs of evasion activity, relying relatively ...
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作者：Slemrod, J; Hansen, C; Procter, R
摘要：The standard analysis of the optimal international tax policy of a small country typically assumes that the country either imports or exports capital, but does not do both. This paper considers the situation in which a small country both exports and imports capital and can alter its tax on one or the other, but not both. In each case, a ''seesaw'' relationship is identified, in which the optimal tax on the income from capital exports (imports) is inversely related to the given tax rate on inco...
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作者：Newbery, DM
摘要：Budgets in Eastern Europe are under strain as taxes are reformed and receipts fall. Should expenditure be maintained or should personal taxes be cut? This paper asks how optimal tax rates might respond to a transition in which the government becomes less averse to inequality, but the inequality in skills increases. These are roughly offsetting and less important than falling enterprise revenue and the decline in the efficiency of personal taxation, both of which cause a sharp fall in optimal t...
