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1.
Louis Kaplow 《International Tax and Public Finance》2007,14(3):295-325
A substantial literature addresses the design of transfer programs and policies, including the negative income tax, other
means-tested transfers, the earned income tax credit, categorical assistance, and work inducements. This work is largely independent
of that on the optimal nonlinear income tax, yet formulations of such a tax necessarily address how low-income individuals
should be treated. This paper draws on the optimal income taxation literature to illuminate the analysis of transfer programs,
including the level and shape of marginal tax rates (including phase-outs), the structure of categorical assistance, and the
role of work inducements in an optimal income transfer scheme.
JEL Classification H21 · H53 · I38 相似文献
2.
Tax Evasion and Auditing in a Federal Economy 总被引:1,自引:0,他引:1
This paper analyzes the relation between tax auditing and fiscal equalization in the context of fiscal competition. We incorporate a model of tax evasion by firms into a standard tax competition framework where regional governments use their audit rates as a strategic instrument to engage in fiscal competition. We compare the region’s choice of audit policies for three different cases: A scenario of unconfined competition without interregional transfers, a scenario with a gross revenue equalization (GRS) scheme and finally, a scenario with net revenue sharing (NRS), where not only the revenues from taxation but also the regions auditing costs are shared. Without regional transfers, fiscal competition leads to audit rates which are inefficiently low for revenue-maximizing governments. While in general GRS aggravates the inefficiency, NRS makes the decentralized choice of auditing policies more efficient.JEL Code: H26, H71, H77 相似文献
3.
We analyze corporate income tax competition with international capital mobility when the common tax base is allocated to governments
according to an apportionment formula. Labor can be either internationally mobile or immobile. We compare the Nash equilibria
for different apportionment methods. Tax competition produces lower tax rates the more elastically the formula share responds
to tax rate changes. More specifically, equilibrium tax rates are typically lowest when apportionment is based on property-shares,
followed by payroll- and sales-shares apportionment. Compared to their cooperative levels, equilibrium tax rates are too low
for property-share apportionment but tend to be too high for the other formulas.
JEL Classification H77 · H25 · F23 相似文献
4.
This paper considers the practical problem of distributing a fixed budget for poverty alleviation to a population whose poverty
status is not directly observable. The solution we propose improves on the techniques that are commonly used in practice by
taking both the concavity of the social welfare function and the entire conditional distribution of poverty status into account,
and by endogenously determining the optimal transfer levels. We provide an algorithm to calculate the optimal transfers for
any population of benefit applicants. Finally, we explain how our method is a generalization of statistical classification
techniques and thus provide an intuitive discussion of the defects of currently operational methods.
JEL CodeH2 · C4 相似文献
5.
We investigate the influence of public policy on interprovincial migration in Canada using new aggregated migration data for
1974–1996, the longest period studied so far. We consider the consequences of regional variation in a variety of policies,
and also investigate the effects of certain extraordinary events in Quebec and in the Atlantic provinces. The results indicate
that while the changing bias in the unemployment insurance system may have induced some people to move to the relatively high
unemployment Atlantic region, the resulting flows are likely too small to have altered regional unemployment rates. In contrast,
political events in Quebec in the 1970's and the closing of the cod fishery in 1992 appear to be associated with large changes
in migration patterns.
JEL Classification H0 · H7 · J41 · J65 · R23 · R58 相似文献
6.
This paper investigates the effect of adverse selection on the private annuity market in a model with two periods of retirement
and two types of individuals, who differ in their life expectancy. In order to introduce the existence of time-limited pension
insurance, we consider a model where for each period of retirement separate contracts can be purchased. Demand for the two
periods can be decided sequentially or simultaneously. We show that only a situation where all risk types choose sequential
contracts is an equilibrium and that this outcome is favourable for the long-living, but is unfavourable for the short-living
individuals.
JEL Classification D82 · D91 · G22 相似文献
7.
Jean-Marie Lozachmeur 《International Tax and Public Finance》2006,13(6):717-732
This paper studies the design of disability insurance scheme when agents differ in their privately known productivity. We
extend the Diamond and Mirrlees (1978) two period model to allow for agents differing ex-ante in their productivity and characterize
the optimal nonlinear tax transfer that maximizes a utilitarian welfare function when per-period earnings and age are observable
while individuals’ productivity and health status are not observable. We show that the induced tax/benefit scheme should exhibit
a marginal income tax that decreases with age for some agents. A marginal subsidy on the young high productive income may
be desirable. While the disability scheme always involves the old low productive agents to be indifferent between working
and claiming disability benefits, this result is not always true for the old high productive agents.
JEL Classification H55 · H23 · E62 相似文献
8.
This paper investigates the impact of emigration on the political choice of the size of the welfare state. Mobility has two
countervailing effects: the political participation effect and the tax base effect. With emigration, the composition of the
constituency changes. This increases the political influence of the less mobile part of the population. But the new political
majority then also has to take into account that emigration reduces tax revenues and thereby affects the feasible set of redistribution
policies. We find that the direction of the total effect of migration depends on the initial income distribution in the economy.
Our results also contribute to the empirical debate on the validity of the median-voter approach in cross-country studies
for explaining the relation between income inequality and redistribution levels.
JEL Classification F22 · H50 · D31 · D72 相似文献
9.
An international mechanism intended to curb global carbon dioxide emissions, mirrored after the Kyoto Protocol, is composed
of decentralized regulatory and enforcement authorities and two supranational agencies that are in charge of promoting international
transfers and imposing punitive fines. Regulatory enforcement is costly and imperfect. Polluting firms located in various
sovereign nations may not comply with emission regulations. We show that there is a combination of decentralized emission
quotas and centralized income transfers and fines, with decentralized leadership in policy making, which induces regional
regulatory authorities to internalize all environmental and pecuniary externalities.
相似文献
10.
Roland Hodler 《International Tax and Public Finance》2007,14(5):525-541
We introduce foreign aid and a rent seeking contest for public funds into the Barro (JPE 1990) growth model. We find that aid effectiveness depends on fiscal policies, the level of aid inflows and the quality of
institutions that restrict appropriation of public funds by rent seeking agents. These results can be shown to be consistent
with the best established findings in the empirical literature on aid effectiveness. Rent seeking may thus indeed be a major
determinant of aid effectiveness. We further discuss how aid effectiveness depends on the way foreign aid is disbursed and
on the determinants of institutional quality.
JEL Classification F35 · D72 · D9 · H2 相似文献
11.
Optimal nonlinear taxes for families 总被引:2,自引:0,他引:2
Craig Brett 《International Tax and Public Finance》2007,14(3):225-261
12.
In this paper we establish, contrary to conventional wisdom, a case for taxing education, as a supplement to the labor income
tax, by drawing on some informational feature of education, which the government may utilize. Discretionary decisions of individuals
to acquire education may serve as an additional signal (to earned labor income) on the underlying unobserved innate earning
ability, thereby mitigating the informational constraint faced by the government.
JEL Classification H2 · D6 相似文献
13.
Michael P. Evers 《International Tax and Public Finance》2006,13(4):463-488
In the debate over EMU, a widely accepted view is that a federal fiscal mechanism is needed for the participating states to
cope with asymmetric shocks. In this paper, we explore the properties of federal fiscal transfer schemes with regard to their
capability to stabilize national consumption, production and employment. We consider direct transfers among private sectors
and indirect transfers among national fiscal authorities. We show that federal fiscal arrangements can provide perfect insurance.
Our analysis builds on the New Open Economy Macroeconomics framework which allows us to portray the transmission of shocks
and the properties of transfers in detail.
JEL Code E42 · E63 · F33 · F42 相似文献
14.
Pierre Pestieau Gwanaël Piaser Motohiro Sato 《International Tax and Public Finance》2006,13(5):587-599
This paper studies the design of an optimal pension scheme in an OLG and open economy model. The pension scheme provides a
flat rate benefit and is based on the PAYG principle. It thus combines inter- and intra-generational redistribution. In this
setting a number of symmetric economies are connected by an open and perfect capital market. When this number is very large,
we have the small open economy case; when it is reduced to one, we have the case of autarky or perfect coordination. As the
number of countries increases, there is more intragenerational redistribution, but less capital accumulation.
JEL Code H55 · H87 相似文献
15.
We show that differences in market participants risk aversion can generate herd behavior in stock markets where assets are
traded sequentially. This in turn prevents learning of market’s fundamentals. These results are obtained without introducing
multidimensional uncertainty or transaction cost.
JEL Classification G1 · G14 · C11 · D82 相似文献
16.
Darío Maldonado 《International Tax and Public Finance》2008,15(2):131-143
This paper studies the design of education policies in a setting in which optimal redistributive labor taxation is available.
It is usually argued that the crucial parameter to guide education policy is the complementarity of education and ability.
This is true only when labor supply is fixed or when income taxes are not allowed. I show that, if labor supply is endogenous
and if the government can tax income in a nonlinear way, the crucial parameter is how the education elasticity of wage changes
with ability. Taking the elasticity criterion into account, education subsidies are optimal in cases in which, under the complementarity
criterion, education taxes would be optimal. To do this, I use an asymmetric information setting that motivates nonlinear
taxation of income and education.
JEL Classification H21 · H23 · H52 · I28 相似文献
17.
Foreign investment decisions of firms are often characterized by investment irreversibility, uncertainty, and the ability
to choose the optimal timing of foreign investments. We embed these characteristics into a real option theory framework to
analyze international competition among countries to attract mobile investments when firms, after the investment is sunk,
can shift profit to low tax countries by transfer pricing. We find that an increase in the uncertainty of profit income reduces
the equilibrium tax rates, whilst lower investment costs or larger profits, counteracts the negative fiscal externality of
tax competition leading to higher equilibrium tax rates.
JEL Code H25 相似文献
18.
We analyze the topical question of how the compensation of elected politicians affects the set of citizens choosing to run.
To this end, we develop a sparse and tractable citizen-candidate model of representative democracy with ability differences,
informative campaigning and political parties. Our results suggest that primaries, campaign costs and rewards have previously
overlooked interactions that should be studied in a unified framework. Surprisingly, increasing the reward may lower the average
candidate quality when the campaigning costs are sufficiently high.
JEL Classification D70 · D72 · D79 相似文献
19.
This paper studies the extent to which poor institutions compromise risk-sharing. We model a multilateral organization as
a social contract that provides insurance to members. Countries privately observe the realization of a performance variable with a verification cost that differs across countries, reflecting the
“transparency” of institutions. When the level of transparency is exogenous, the optimal contract provides complete expected
risk sharing across countries and states. Poor transparency and enforcement reduce consumption and result in insurance rationing.
When a country can increase transparency endogenously, this generates an externality and moral hazard. We first characterize
the outcome when the multilateral agency can influence members’ institutions by choosing the countries’ level of effort. Next
we derive a tax/subsidy scheme that can induce countries to choose the socially optimal level.
JEL Classification Numbers D8, F3
We are grateful to Biung-Ghi Ju, Ted Juhl, Donald Lien, Joseph Sicilian and Jianbo Zhang for helpful comments. We are especially
grateful to an anonymous referee for comments that improved the paper substantially. 相似文献
20.
In this paper, we examine the relationship between international intrafirm area transfers and market metrics as measured by market-to-book value and systematic risk. Intrafirm transfers – the amount that multinational corporations charge one another for the transfer of goods, intellectual property, and services – have become an increasingly important issue for policymaking, managerial, financial, and tax purposes. This paper also examines whether international intrafirm intergeographic area transfers are attributed to corporate tax. We find that firms with a sizable volume of international intrafirm transfers have higher systematic risk than comparable firms without these transfers. We show cross-sectionally that firms engage in international transfers have a higher market-to-book ratio, suggesting that transfers add value through their effect on earnings and taxes. Consistent with Mills and Newberry (2003) and Collins, Kemsley, and Lang (1998), we document that U.S. (global) income tax is positively (negatively) related to intrafirm transfers, implying that U.S. multinational firms shifted taxable income to the United States from 1995 to 1999. 相似文献