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作者：BRITO, DL; HAMILTON, JH; SLUTSKY, SM; STIGLITZ, JE
作者单位：State University System of Florida; University of Florida; Rice University; Stanford University
摘要：The optimal income tax problem is one of many problems in economics for which a randomized allocation may be desirable. For a two-class economy, we characterize optimal random tax schedules and present necessary and sufficient conditions for local randomization either to be Pareto improving or to extend the constrained Pareto frontier. We present another sufficient condition for nonlocal randomization to be Pareto improving, which need not violate ex post or ex ante horizontal equity. Lastly, ...
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作者：MCGUIRE, TG; RIORDAN, MH
摘要：Market structure is endogenized in a normative model of public procurement featuring a social cost of profit, product variety, economies of scale, and incomplete information about cost. Depending on parameters, either sole sourcing or dual sourcing might be optimal. However, if the social cost of profit is positive but not too large, incomplete information biases optimal market structure in favor of sole sourcing. On the other hand, this bias in favor of sole sourcing may be reversed if the so...
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作者：RAJAPOPAL, D; SHAH, A
作者单位：The World Bank; Toronto Metropolitan University
摘要：An intertemporal model of a firm optimizing its expected net present value was used to derive the model's estimating equations, and rental prices of capital services consistent with rational expectations. We analysed the effects of a 10 percent change in two tax incentives. For the chemical and pharmaceutical industries the benefits of the tax credit for physical investment (increased investment) far exceeded its costs (forgone tax revenue). This was also true for the R&D tax allowance for the...
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作者：JOHANNESSON, M
摘要：Broome (Journal of Public Economics, 1993, 50, 149-167) claimed that quality-adjusted life years (Qalys) based on the 'time' method are consistent with individual preferences only if life years are not discounted, and Qalys based on the 'probability' method are consistent with individual preferences only if risk-neutrality over discounted life years holds. This comment shows that the time method is consistent with discounting, if the quality weight is derived in the appropriate way. The time m...
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作者：ZHANG, J
作者单位：University of Windsor; University of Victoria
摘要：This paper examines the effects of social security on the steady-state growth of per capita income in an endogenous growth model in which agents care about their own consumption, the number of children, and the welfare of each child. It shows that an unfunded program may simulate growth by reducing fertility and increasing the ratio of human capital investment per child to per family income when bequests are positive. Also, it may cause faster growth than funded programs, especially when recei...
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作者：POTERBA, JM; VENTI, SF; WISE, DA
作者单位：National Bureau of Economic Research; Massachusetts Institute of Technology (MIT); Dartmouth College; Harvard University
摘要：During the late 1980s, contributions to 401(k) plans eclipsed contributions to Individual Retirement Accounts (IRAs) as the leading form of tax-deferred individual retirement saving in the United States. In this paper we describe patterns of participation in 401(k) plans, contrast these patterns with IRA participation, and evaluate the net impact of 401(k) contributions on personal saving. We find that 401(k) participation conditional on eligibility exceeds 60% at all income levels. In contras...
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作者：KAHN, CM; MOOKHERJEE, D
作者单位：Indian Statistical Institute; Indian Statistical Institute Delhi
摘要：This paper compares full-information insurance markets (a) with markets where accident-reducing effort levels are unverifiable but trades between every pair of agents are verifiable and (b) with markets where neither effort nor trades are verifiable. Markets are represented by a contracting game, with a solution concept allowing coordination among coalitions through information-constrained contracts. Each informational setting yields a correspondence between market outcomes and the appropriate...
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作者：SPAGAT, M
摘要：Drawbacks of standard iterative planning algorithms include: (i) planner actions are just on-paper calculations, without direct economic consequences, and may converge very slowly; (ii) planners cannot act systematically on hunches and intuitions; and (iii) planners can observe unrealistically detailed information. These problems are addressed through a Bayesian learning model. It is shown, in sharp contrast to the standard literature, that planners will not necessarily settle in the long run ...
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作者：HAYES, KJ; LAMBERT, PJ; SLOTTJE, DJ
作者单位：University of York - UK; Southern Methodist University
摘要：An algorithm to compute effective income tax progression is devised for use when taxes are a function of both money income and other socioeconomic attributes and the data is in grouped (summary) form suppressing non-income information. Effective progression can be evaluated at percentiles in the distribution of either money or equivalent income. The normative significance of the new measures is explained in both cases. The methodology is illustrated by application to U.S. individual income tax...
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作者：CHAMBERS, RG
摘要：A general-equilibrium model is used to analyze agricultural policy incidence in the presence of distortionary income taxation. The incidence of lump-sum transfers to farmers, supply control through input retirement, and production subsidies are considered. Partial equilibrium incidence calculations are shown to systematically overstate the benefits farmers receive from farm programs. Kaldor's compensation test is used to judge the relative efficiency (inefficiency) of alternative farm programs...
