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作者：GARVIE, D; KEELER, A
作者单位：University System of Georgia; University of Georgia
摘要：This paper extends the economic literature on the incomplete enforcement of social regulation by incorporating regulatory choice in an institutional environment of limited regulatory resources and powers. We show how regulatory decisions determine the structure of incentives faced by regulated firms. Our results indicate that the expense of monitoring relative to the regulator's power to levy penalties helps to explain the differences between 'compliance' and 'deterrence' enforcement styles. W...
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作者：BENDER, B
摘要：That senators from the same state often have a large difference in their ideological voting records has proven inconvenient for a literature that has largely relied on a median voter model of elections. One exception is Palfrey (Review of Economic Studies, 1984, 51, 139-156), whose analysis implies the hypothesis that the expected difference in such voting records varies directly with the variance of that state's density function of constituent ideological preferences. This paper provides empi...
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作者：HARVEY, CM
摘要：The typical method for valuing the future goods and harms of a public policy alternative is by means of a constant annual discount rate. This paper examines the reasonableness for public policy analysis of non-constant discounting methods that, unlike constant discounting, can accord considerable importance to outcomes in the distant future. We examine temporal consistency and economic efficiency as reasons for the use of constant discounting - and we argue that these reasons do not apply for ...
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作者：FORTIN, B; LACROIX, G
作者单位：Laval University
摘要：In this paper we extend the concept of marginal cost of public funds (MCF) to incorporate tax evasion in the labour market. MCF values are also computed from various tax reforms applied to the Province of Quebec (Canada 1985). For this purpose, a utility-based labour supply model that allows for both regular and irregular work activities is used. At the benchmark situation, the MCF associated with an increase in marginal income tax rates ranges between $1.39 and $1.53 depending upon whether we...
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作者：HOFF, K
摘要：This paper interprets many results from the literature on incentive compatibility and cost-benefit analysis as illustrations of a second theorem of the second best. The theorem states that if there exists any restriction on transactions required for first-best efficiency, then there is no presumption that a social welfare maximum entails equal marginal social utilities of income across individuals. One reason is that incentive constraints shift with redistributions of wealth, so that redistrib...
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作者：GENTRY, WM
作者单位：National Bureau of Economic Research
摘要：Publicly Traded Partnerships (PTPs), also known as Master Limited Partnerships, are similar to U.S. corporations, yet they are not subject to corporate taxes. Given their mixture of corporate and partnership characteristics, PTPs provide an experiment for studying taxation and firm financial decisions. This paper compares the financial structure and dividend policies of PTPs and corporations in the oil and gas exploration industry. The results are consistent with hypotheses about taxes and fin...
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作者：ABDALA, MA
摘要：In a country with permanent deficit-driven inflation problems, the proceeds from privatization may translate into potential reductions of the seigniorage needed to finance a given a level of government expenditure. The changes in welfare costs of inflation brought about by divestiture are quantified in a monetary model. In an Argentine case study, these changes were found to be small, both in terms of GDP and as a percentage of seigniorage revenue. Within the model, this is mainly explained by...
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作者：CASE, AC; HINES, JR; ROSEN, HS
作者单位：Harvard University
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作者：WELLISCH, D
摘要：When households are immobile across regions, the decentralized provision of public goods that generate interregional benefit spillovers is inefficiently low. We analyze this problem in an environment of interregional household migration and obtain the following results: if households are perfectly mobile across regions, then the decentralized provision of public goods generating spillovers is socially efficient. There is no need for central government intervention. If households are attached t...
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作者：PERSSON, T; TABELLINI, G
作者单位：University of Brescia; Stockholm University
摘要：In this paper we study a political model of capital taxation. Voters who differ in their relative shares of capital and labor income choose tax policy under majority rule. We compare two political regimes: direct democracy, where the voters vote directly on the policy; and representative democracy, where they elect a representative who then chooses policy. In both regimes some form of commitment by the voters is necessary to avoid excessive taxation of capital. But the necessary commitment und...
