Browsing by Subject "H21"

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Browsing by Subject "H21"

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    Title: Financial Markets as a Commitment Device for the Government  Author(s): SIMON, Jenny Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: How does the presence of financial markets shape the government's ability to implement social redistribution? Individuals do not typically constrain consumption to equal their net-of-tax income every period. Instead, access ...
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    Title: Optimal Taxation and Constrained Inefficiency in an Infinite-Horizon Economy with Incomplete Markets  Author(s): GOTTARDI, Piero; KAJII, Atsushi; NAKAJIMA, Tomoyuki Date: 2011-01-01 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We study the dynamic Ramsey problem of finding optimal public debt and linear taxes on capital and labor income within a tractable infinite horizon model with incomplete markets. With zero public expenditure and debt, it ...
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    Title: Taxation and Capital Market Liberalization: A Political-Economy Model  Author(s): SAND, Edith Date: 2009 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: This paper investigates the effects of financial liberalization on the welfare state from a politicaleconomy point of view. Most research on the subject does not treat financial liberalization as a political process, but ...
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    Title: Asset Based Unemployment Insurance  Author(s): RENDAHL, Pontus Date: 2007 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: This paper studies a model of optimal redistribution policies in which agents face unemployment risk and in which savings may provide partial self-insurance. Moral hazard arises as job search effort is unobservable. The ...
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    Title: Markov-Perfect Optimal Fiscal Policy: The Case of Unbalanced Budgets  Author(s): ORTIGUEIRA, Salvador; PEREIRA, Joana Date: 2007 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We study optimal income taxation and public debt policy in a neoclassical economy pop- ulated by infinitely-lived households and a benevolent government. The government makes sequential decisions on the provision of a ...
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    Title: The Value Added Tax: Its Causes and Consequences  Author(s): KEEN, Michael; LOCKWOOD, Ben Date: 2007 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: Almost unknown in 1960, the value added tax (VAT) is now found in more than 130 countries, raises around 20 percent of the world’s tax revenue, and has been the centerpiece of tax reform in many developing countries. ...
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    Title: Prudent Budgetary Policy Political Economy of Precautionary Taxation  Author(s): VAN DER PLOEG, Frederick Date: 2007 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: The theory of tax smoothing and determination of public debt with uncertain future national income is extended for prudence. A prudent government deliberately underestimates future national income and the tax base, ...