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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：Wildasin, DE
作者单位：University of Kentucky
摘要：This paper analyzes fiscal competition among numerous spatially-separated jurisdictions in an explicitly dynamic framework. The degree of factor mobility between jurisdictions is imperfect because it is costly and time-consuming to adjust factor stocks. Even if it is harmful in the long run, taxation of mobile factors redistributes income in favor of the owners of immobile resources in the short run. The locally-optimal tax on mobile factors is lower, the faster the speed with which factors ad...
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作者：Poterba, JM; Samwick, AA
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Dartmouth College; National Bureau of Economic Research
摘要：This paper explores the relationship between household marginal income tax rates, the set of financial assets that households own, and the portfolio shares accounted for by each of these assets. It analyzes data from the 1983, 1989, 1992, 1995, and 1998 Surveys of Consumer Finances and develops a new algorithm for imputing federal marginal tax rates to households in these surveys. The empirical findings suggest that marginal tax rates have important effects on asset allocation decisions. The p...
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作者：Lyon, TP; Maxwell, JW
作者单位：Indiana University System; IU Kelley School of Business; Indiana University Bloomington
摘要：An increasingly popular instrument for solving environmental problems is the 'public voluntary agreement (VA),' in which government offers technical assistance and positive publicity to firms that reach certain environmental goals. Prior papers treat such agreements as a superior, low-cost instrument that can be used to preempt a threat of traditional, inefficient, regulation. We present a more general model in which public VAs may instead be weak tools used when political opposition makes env...
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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：Black, DA; McKinnish, TG; Sanders, SG
作者单位：Syracuse University; University of Colorado System; University of Colorado Boulder; University System of Maryland; University of Maryland College Park
摘要：We study shocks to the coal and steel industries to measure the effect of long-term changes in demand for low-skilled workers on welfare expenditures. The coal and steel industries have historically paid high wages to low-skilled men. We find a substantial increase in welfare expenditures in response to the collapse of the steel and coal industries in the 1980s, and an even more substantial reduction in welfare expenditures during the coal boom of the 1970s. Additional analysis indicates the r...
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作者：Mueller, DC; Stratmann, T
作者单位：George Mason University; University of Vienna
摘要：Considerable concern has been expressed in recent years about declines in voter participation rates in the United States and in several other major democratic countries. Some feel low participation rates introduce a 'class bias' into the political process and thereby worsen the outcomes from it. Little empirical work exists, however, that measures the effects of lower participation on the welfare of a country. This paper begins to fill this void. It presents cross-national evidence that high l...
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作者：Donni, O
作者单位：University of Quebec; University of Quebec Montreal
摘要：In this paper, we adopt the usual assumptions of the collective approach, i.e., individualism and efficiency, to study household labor supply. The theoretical innovation is 2-fold. First, we incorporate the decision to participate in the labor market in the initial setting. Second, we abandon the assumption of linearity of the budget constraint. We show that (i) structural elements such as preferences or the outcome of the decision process can be recovered, and (ii) testable restrictions are g...
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作者：Kessler, AS; Lülfesmann, C; Myers, GM
作者单位：Simon Fraser University; University of Bonn
摘要：The paper studies the implications of increased capital market integration and the associated increased tax competition for world welfare. We consider a population with heterogeneous endowments of capital in a model of redistributive politics. We show that if countries have the same average capital endowments but differ with respect to the endowments of their decisive majority, autarky may be socially preferred to integration under any aversion to inequality. We then reverse the conclusion by ...
