Download or read book Essays in Optimal Taxation and Dynamic Mechanism Design written by Luigi Balletta and published by . This book was released on 2010 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Optimal Taxation and Dynamic Mechanism Design written by Luigi Balletta and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Optimal Taxation written by and published by . This book was released on 1979 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is a collection of essays on aspects of optimal taxation.
Download or read book Essays in Dynamic Fiscal and Monetary Policy written by Mikhail Golosov and published by . This book was released on 2004 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Two Essays in Optimal Taxation written by and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Optimal Taxation and Indeterminacy written by David Domeij and published by . This book was released on 1998 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays in Macroeconomics written by Kyoung Jin Choi and published by . This book was released on 2011 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: The scope of the dissertation is (broadly-defined) general macroeconomics. The first essay is on optimal taxation and capital structure, the second essay is on firm dynamics, and the third essay is on financial crises. The first essay clarifies the role of the corporate income tax (as a form of double taxation) for achieving socially optimal allocations in the Mirrlees framework when the government cannot tax unrealized capital income at the individual level. Use of the corporate tax requires changes in the individual capital tax. The novelty of the paper is that the sophisticated tax system is designed to influence the individual agent's portfolio choice of debt and equity, which in turn endogenizes the leverage ratio. The optimum corporate tax is indeterminate, but a minimal level is ecessary. An immediate question is what happens to capital structure if we increase or decrease the level of the corporate tax. Surprisingly, unlike in classical capital structure theories, in this optimal tax mechanism, the firm's leverage ratio is independent of the corporate tax rate. The second essay examines firm dynamics to explain the following empirical facts: (i) The size of a firm and its growth rate are negatively correlated; (ii) but, they are often independent for firms above a certain size. Existing theories of firm dynamics can explain the first fact, but cannot explain the second. This paper studies a dynamic moral hazard problem under an AK-technology. In a first best world, the expected growth rate is strictly decreasing with capital. However, with information asymmetry our theory is consistent with both empirical facts because the optimal contract dictates under-investment in low-level capital states and over-investment in high-level capital states. The reason is that the given convex production technology becomes nonconvex in equilibrium due to the information asymmetry and the degree of the nonconvexity differs by the level of capital. We also fully characterize the agent's incentives. The capital accumulation mechanism induces incentive schemes that are different from optimal contracts in the literature on principal-agent models. Finally, in the third essay - This essay is a joint work with Costas Azariadis - we propose a model of financial crises as transitions from an efficient and unstable state to an inefficient and stable state in a simple economy with sector-specific shocks. The main driving force of this transition is the unwinding of unsecured loans. Introducing public debt increases the volatility of stock prices. We also discuss possible policy interventions.
Download or read book Essays on Dynamic Economics written by Yuzhe Zhang and published by . This book was released on 2006 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Optimal Taxation and Indeterminacy written by David Domeij and published by . This book was released on 1998 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Optimal Taxation written by Catarina Luis Monteiro dos Reis and published by . This book was released on 2007 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis studies the optimal income tax scheme in four different settings. Chapter 1 focuses on the implications of lack of commitment for the optimal labor and capital income tax rates. It finds that it is optimal to converge to zero capital income taxes and positive labor income taxes in the long run. The government will follow the optimal plan as long as its debt is low enough, which implies that the lack of commitment may lead to some asset accumulation in the short run. Chapter 2 determines the optimal tax schedule when education is endogenous and observable, in a setting where agents have heterogeneous abilities. It finds that, for each ability level, it is optimal to subsidize monetary educational costs at the same marginal rate at which income is being taxed. Chapter 3 finds that when entrepreneurial labor income cannot be observed separately from capital income, then it is optimal to have positive capital taxation in the long run. Chapter 4 finds that if human capital expenses are unobservable, then in the optimal plan human capital accumulation will be distorted in the long run.
Download or read book Essays on the Theory of Optimal Taxation written by Sanna Tenhunen and published by . This book was released on 2007 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Optimal Taxation and Constrained Efficiency written by Ye-Na Park and published by . This book was released on 2014 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Design and Reform of Taxation Policy written by P. Galeotti and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: G. Galeotti* and M. Marrelli** *Universita di Perugia **Universita di Napoli 1. The economic analysis of optimal taxation has permitted considerable steps to be taken towards the understanding of a number of problems: the appropriate degree of progression, the balance between different taxes, the equity-efficiency trade-off etc .. Though at times considered as abstract and of little use in policy design, the issues it addresses are real ones and very much on the agenda of many countries. As usual in scientific debate, criticisms have contributed to the correct understanding of the theoretical problems involved and made clear that, at the present state of the art, definitive conclusions may be premature. A first well-taken criticism addresses the assumption, underlying optimal taxation models, of a competitive economy with perfect information on the part of individual agents and full market clearing. Once we leave the Arrow-Debreu world, it is no longer necessarily the case that taxes and transfers introduce distortions on otherwise efficient allocations.
Download or read book Optimal Dynamic Fiscal Policy written by Aleh Tsyvinski and published by . This book was released on 2003 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dynamic Mirrlees Taxation Under Political Economy Constraints written by Daron Acemoglu and published by . This book was released on 2008 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: (Cont.) Finally, we extend our analysis to the case where the government cares both about its own consumption and the future utility of the citizens. This extension generalizes our results to environments where the key constraint is the time-inconsistency of a (partially) benevolent government. Keywords: dynamic incentive problems, mechanism design, optimal taxation, political economy, revelation principle. JEL Classifications: H11, H21, E61, P16.
Download or read book Special Issue Essays on Inequality Structural Change and Optimal Taxation written by and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Optimal Taxation in Financial Markets written by Kai B. Brückerhoff and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
