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作者：WERNER, IM
摘要：Distortionary proportional capital income taxation is shown to cause both static effects via portfolio re-allocation and dynamic effects via changes in the value of a claim to future transfers as well as via perceived changes in the future investment opportunity set. The stochastic structure of returns to investment is important for understanding the consequences of a unilateral increase in the domestic tax rate. A government choosing optimal tax policy makes a tradeoff between the increase in...
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作者：AGELL, J; DILLEN, M
摘要：Basic welfare economics tells us that many types of externalities can be remedied by proper use of corrective taxes and subsidies. This paper shows that this notion also extends to the macroeconomic externalities discussed in recent Keynesian literature on nominal price rigidities. The derived policy rules are kindred in spirit to standard Keynesian policy prescriptions: progressive taxes may serve a useful role in combating wasteful economic fluctuations. However, unlike older fix-price model...
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作者：IRELAND, NJ
摘要：In many societies, individuals care how others view them. In their efforts to impress, such individuals engage in consumption signals which attempt to establish higher levels of status than their true status type. This leads to an inefficiency which offers the possibility of a Pareto-improving tax policy. The impacts of tax policy and benefits on the signalling equilibrium are considered.
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作者：GORDON, RH; MACKIEMASON, JK
摘要：Income from corporate and noncorporate firms is treated very differently under the tax law. In theory, given existing tax law, the noncorporate sector should consist of very profitable firms owned by low-tax-bracket investors and firms with tax losses owned by high-tax-bracket investors. But the degree to which firms change their form of organization in response to taxes, and the resulting excess burden, depends as well on nontax factors. Given the role of taxes, we estimate what size the nont...
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作者：WOO, CK
作者单位：City University of Hong Kong
摘要：Supply shortage is a common problem faced by a consumer. Solutions for allocating the limited supply include rationing, queuing, interruption and pricing. While previous research has examined the welfare losses generated by each solution, there is little evidence on their relative magnitudes within a common framework. The objective of this paper is to specify a model of consumer behaviour under service interruption to estimate the exact welfare loss of service interruption. The same model is u...
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作者：SCOTT, F; GAREN, J
摘要：When consumers' indifference curves are discontinuous at zero, perhaps due to stigma or fixed costs of purchase, then factors influencing the amount purchased will have a different effect on the probability of purchase. Estimation of the demand for a commodity like lottery tickets requires a procedure that accounts for this. Tobit estimation, commonly used in this literature, does not allow for this generalization. We investigate individual lottery ticket purchases using data from a survey of ...
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作者：SKEATH, SE; TRANDEL, GA
作者单位：University System of Georgia; University of Georgia
摘要：A literature that began with Wicksell (1896) has shown that an ad valorem tax is welfare superior to an equal-yield unit tax in both monopoly and oligopoly markets. This paper proves a stronger result: for any unit tax imposed on a monopoly, there exists an ad valorem tax that Pareto dominates it - that produces larger profit, tax revenue, and consumer surplus. The paper then considers whether this Pareto result generalizes to all Cournot-Nash oligopolies. The paper shows that Pareto dominance...
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作者：ECKSTEIN, Z; ZILCHA, I
作者单位：Tel Aviv University; Boston University
摘要：In this paper we consider an OLG model with productive capital and human capital affecting the quality of labor. In each generation parents invest in their children's education but disregard its external effect on the aggregate production function. Government intervention in providing compulsory schooling increases economic growth (along the equilibrium path), while the intragenerational income distribution becomes more equal. Also, in the long run, the majority of individuals in each generati...
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作者：STOLE, LA
摘要：Government mandated technology transfers from the developer of a product to a second source offer a potential gain of reduced information rents and procurement costs. To provide appropriate incentives, technology must sometimes be transferred even when the second source is less efficient than the first. Additionally, when developer moral hazard exists with respect to investments in cost-reducing technology, the optimal auction will make the developer's success in the auction more sensitive to ...
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作者：STRAWCZYNSKI, M
摘要：A subsequent generations model is used in order to characterize consumption allocation under the future generation's income uncertainty. Altruistic concerns towards future generations give rise to 'precautionary bequests' which act as a hedge on risk. It is shown that given a first-order correlation between mean future income and the present generation's income, government can provide a Pareto improvement through a tax-transfer policy with universal participation. This policy acts as a substit...
