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We extend the analysis of income tax progression to combined taxes, benefits, and the tax-benefit system. The overall redistributive impacts of constituent reforms are identified. Our findings point to the importance of interaction effects and demonstrate the dangers of isolated reforms. 相似文献
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UDO EBERT 《Journal of Public Economic Theory》2008,10(5):873-889
The paper considers the redistribution of income in a population of households which may differ by type. The redistribution is based on (differences in) living standard and a principle of between‐type‐progressive transfers (BTPT). We characterize the relationship between a social welfare ordering satisfying the BTPT principle and the concept of living standard the principle is based on. It turns out that there is a close link: The ordering of living standard can be derived from the social welfare ordering. Conversely, the class of welfare orderings fulfilling the BTPT principle for a given concept of living standard can be completely described. 相似文献
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When incomes are exogenously given, U. Jakobsson ( Journal of Public Economics s 5 (1976), 161–168) proved that a progressive tax structure always reduces inequality. We investigate the implications for effective progression of relaxing the assumption of exogenous incomes when individuals have the same preferences but different talents. We extend the standard result and conclude that it is generally impossible to disentangle the respective contributions to inequality reduction of the tax schedule and agents' preferences. For a linear tax schedule to result in less unequally distributed incomes it is sufficient that the elasticity of labor supply be nonincreasing in exogenous income and nondecreasing in productivities. The latter condition proves to be necessary and sufficient when the tax schedule is proportional. 相似文献
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FOREIGN PRODUCTION AND FORWARD MARKETS* 总被引:1,自引:0,他引:1
UDO BROLI 《Australian economic papers》1994,33(62):1-6
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This note studies the optimal production and hedging decisions of a competitive international firm that exports to two foreign countries. The firm faces multiple sources of exchange rate uncertainty. Cross‐hedging is plausible in that one of the two foreign countries has a currency forward market. We show that the firm's optimal forward position is an over‐hedge, a full‐hedge or an under‐hedge, depending on whether the two random exchange rates are strongly positively correlated, uncorrelated or negatively correlated, respectively. 相似文献
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UDO BROLL SUGATA MARJIT 《The South African journal of economics. Suid-afrikaanse tydskrif vir ekonomie》2005,73(3):474-481
Foreign investment in developing countries and in economies in transition may be discouraged by fluctuations in the value of local currencies, particularly when risk sharing markets, such as currency future markets are missing. International joint ventures can be regarded as an institution for risk sharing. We demonstrate that a properly designed joint venture between the foreign firm and a local partner makes foreign investment more likely. Furthermore, foreign investment may be increased by a joint venture. 相似文献
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