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Intergenerational Allocation Of Government Expenditure Externalities And Optimal Taxation
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Book Synopsis Intergenerational Allocation of Government Expenditure, Externalities and Optimal Taxation by : Kazi Iqbal
Download or read book Intergenerational Allocation of Government Expenditure, Externalities and Optimal Taxation written by Kazi Iqbal and published by . This book was released on 2006 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we argue that government's allocation of resources among competing age groups has significant bearing on labor and capital supply and optimal tax policies. Empirics reveal that allocation of public expenditure is highly favorable to the old cohorts in developed countries. However, we don't know whether this allocation is socially optimal. In this study, we develop a suitable framework of two period lived OLG with endogenous labor supply in both periods to derive the socially optimal level of public expenditure on the young and the old for two cases: i) public spending is only utility enhancing and ii) public spending is both utility and labor productivity enhancing. This study underscores the importance of the allocation of public expenditure between different age groups and sheds light on the factors that determine socially optimal public allocation between the young and the old. We also examine how labor, capital and optimal tax rates change when spending on the young and the old deviates from the socially optimal level. The results on optimal taxes also highlight the implications of life cycle economy. Tax deductions, exemptions etc., that make labor income tax different across age cohorts, are optimal if consumption tax is not uniform across cohorts. These cohort specific consumption taxes also create distortion in the intertemporal margin, resulting in non-zero capital income tax in the long run.
Book Synopsis Intergenerational Allocation of Government Expenditures by : Kazi Iqbal
Download or read book Intergenerational Allocation of Government Expenditures written by Kazi Iqbal and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Environmental Tax Policy and Intergenerational Distribution by : Ary Lans Bovenberg
Download or read book Environmental Tax Policy and Intergenerational Distribution written by Ary Lans Bovenberg and published by . This book was released on 1996 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper integrates both the efficiency and intergenerational distributional aspects of environmental taxes by not only exploring the efficiency case for environmental taxes but also investigating the intergenerational implications of environmental tax reform.
Book Synopsis Comment on "Fiscal Externalities and Optimal Taxation in an Economic Community" by Marianne Baxter and Robert G. King by :
Download or read book Comment on "Fiscal Externalities and Optimal Taxation in an Economic Community" by Marianne Baxter and Robert G. King written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimal taxation problems in open-economy models are not trivial extensions of similar analyses in closed-economy models. In this discussion, I emphasize two important caveats of open-economy optimal policy problem. First, the intertemporal budget constraint of the government is not a necessary restriction that a Ramsey government should consider in its maximization problem. This point revisit in the current framework a previous argument discussed in Woodford (1996). Second, the specification of the strategies followed by each government is critical for the outcome of the non-cooperative allocation. Finally, I argue that in the analysis of Baxter and King (2005), (BK in what follow), it would be interesting to know more about how the labor wedge is set across the different allocations and models analyzed.
Book Synopsis The Theory of Taxation and Public Economics by : Louis Kaplow
Download or read book The Theory of Taxation and Public Economics written by Louis Kaplow and published by Princeton University Press. This book was released on 2010-12-05 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Theory of Taxation and Public Economics presents a unified conceptual framework for analyzing taxation--the first to be systematically developed in several decades. An original treatment of the subject rather than a textbook synthesis, the book contains new analysis that generates novel results, including some that overturn long-standing conventional wisdom. This fresh approach should change thinking, research, and teaching for decades to come. Building on the work of James Mirrlees, Anthony Atkinson and Joseph Stiglitz, and subsequent researchers, and in the spirit of classics by A. C. Pigou, William Vickrey, and Richard Musgrave, this book steps back from particular lines of inquiry to consider the field as a whole, including the relationships among different fiscal instruments. Louis Kaplow puts forward a framework that makes it possible to rigorously examine both distributive and distortionary effects of particular policies despite their complex interactions with others. To do so, various reforms--ranging from commodity or estate and gift taxation to regulation and public goods provision--are combined with a distributively offsetting adjustment to the income tax. The resulting distribution-neutral reform package holds much constant while leaving in play the distinctive effects of the policy instrument under consideration. By applying this common methodology to disparate subjects, The Theory of Taxation and Public Economics produces significant cross-fertilization and yields solutions to previously intractable problems.
Book Synopsis The New Dynamic Public Finance by : Narayana R. Kocherlakota
Download or read book The New Dynamic Public Finance written by Narayana R. Kocherlakota and published by Princeton University Press. This book was released on 2010-07-01 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimal tax design attempts to resolve a well-known trade-off: namely, that high taxes are bad insofar as they discourage people from working, but good to the degree that, by redistributing wealth, they help insure people against productivity shocks. Until recently, however, economic research on this question either ignored people's uncertainty about their future productivities or imposed strong and unrealistic functional form restrictions on taxes. In response to these problems, the new dynamic public finance was developed to study the design of optimal taxes given only minimal restrictions on the set of possible tax instruments, and on the nature of shocks affecting people in the economy. In this book, Narayana Kocherlakota surveys and discusses this exciting new approach to public finance. An important book for advanced PhD courses in public finance and macroeconomics, The New Dynamic Public Finance provides a formal connection between the problem of dynamic optimal taxation and dynamic principal-agent contracting theory. This connection means that the properties of solutions to principal-agent problems can be used to determine the properties of optimal tax systems. The book shows that such optimal tax systems necessarily involve asset income taxes, which may depend in sophisticated ways on current and past labor incomes. It also addresses the implications of this new approach for qualitative properties of optimal monetary policy, optimal government debt policy, and optimal bequest taxes. In addition, the book describes computational methods for approximate calculation of optimal taxes, and discusses possible paths for future research.
Book Synopsis The Economics of Taxation, second edition by : Bernard Salanie
Download or read book The Economics of Taxation, second edition written by Bernard Salanie and published by MIT Press. This book was released on 2011-11-10 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: A concise and rigorous text that combines theory, empirical work, and policy discussion to present core issues in the economics of taxation. This concise introduction to the economic theories of taxation is intuitive yet rigorous, relating the theories both to existing tax systems and to key empirical studies. The Economics of Taxation offers a thorough discussion of the consequences of taxes on economic decisions and equilibrium outcomes, as well as useful insights into how policy makers should design taxes. It covers such issues of central policy importance as taxation of income from capital, environmental taxation, and tax credits for low-income families. This second edition has been significantly revised and updated. Changes include a substantially rewritten chapter on direct taxation; a discussion of recent research in the chapter on mixed taxation; the replacement of the chapter on capital taxation with a chapter on the “new dynamic public finance”; and considerations of environmental taxation in both theory and policy chapters. The book is aimed at graduate students or advanced undergraduates taking public finance classes as well as economists who want to learn more about the topic. It combines discussion of theory, empirical work, and policy objectives in compact form. Appendixes provide necessary background material on consumer and producer theory and the theory of optimal control.
Book Synopsis Well-Being and Fair Distribution by : Matthew Adler
Download or read book Well-Being and Fair Distribution written by Matthew Adler and published by . This book was released on 2012 with total page 656 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive philosophically grounded argument for the use of social welfare functions as a framework for governmental policy analysis.
Download or read book Tax By Design written by Stuart Adam and published by Oxford University Press. This book was released on 2011-09 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on the findings of a commission chaired by James Mirrlees, this volume presents a coherent picture of tax reform whose aim is to identify the characteristics of a good tax system for any open developed economy, assess the extent to which the UK tax system conforms to these ideals, and recommend how it might be reformed in that direction.
Book Synopsis Optimal Public Investments in Education, and Endogenous Growth by : Jie Zhang
Download or read book Optimal Public Investments in Education, and Endogenous Growth written by Jie Zhang and published by . This book was released on 1996 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Savings and Bequests by : Toshiaki Tachibanaki
Download or read book Savings and Bequests written by Toshiaki Tachibanaki and published by University of Michigan Press. This book was released on 1994 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do bequests explain differences in savings behavior between countries?
Book Synopsis Management Theories and Strategic Practices for Decision Making by : Tavana, Madjid
Download or read book Management Theories and Strategic Practices for Decision Making written by Tavana, Madjid and published by IGI Global. This book was released on 2012-11-30 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is an immense amount of information to be considered when attempting to solve complex strategic problems. To recognize the complexity of this process, the creation of tools and techniques are essential to aid decision makers in developing a rational model for strategy evaluation. Management Theories and Strategic Practices for Decision Making brings together a collection of research aiming to provide communication for the management of new methodologies to solve strategic problems and applying decision making approaches. This reference is useful for government agencies, practicing managers, academic and research institutions interested in bringing together strategic decision-making and decision sciences.
Book Synopsis Taxation and Labour Supply by : C. V. Brown
Download or read book Taxation and Labour Supply written by C. V. Brown and published by Routledge. This book was released on 2018-12-07 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1981. This book reports on a decade of research into the effects of taxation on the supply of labour. In addition to their work in making labour supply estimates, the study explores a number of the ways labour supply estimates can be used. When budget constraints are non-linear it is not possible to estimate the effects of (tax) or other policy changes from knowledge of labour supply elasticities alone, and it is necessary to re-estimate the original model used to derive the estimates. The implications of labour supply estimates for the study of inequality and optimal taxation are considered. Macro-economic models of the economy typically omit labour supply functions or include functions which are inconsistent with micro-economic work on labour supply. This book will appeal to academic economists, senior students and policy-makers in the field of public finance and labour economics, who will find much of interest from both the theoretical and policy standpoints.
Book Synopsis Handbook of Public Economics by : Martin Feldstein
Download or read book Handbook of Public Economics written by Martin Feldstein and published by Elsevier. This book was released on 2002-01-25 with total page 744 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Field of Public Economics has been changing rapidly in recent years, and the sixteen chapters contained in this Handbook survey many of the new developments. As a field, Public Economics is defined by its objectives rather than its techniques and much of what is new is the application of modern methods of economic theory and econometrics to problems that have been addressed by economists for over two hundred years. More generally, the discussion of public finance issues also involves elements of political science, finance and philosophy. These connections are evidence in several of the chapters that follow. Public Economics is the positive and normative study of government's effect on the economy. We attempt to explain why government behaves as it does, how its behavior influences the behavior of private firms and households, and what the welfare effects of such changes in behavior are. Following Musgrave (1959) one may imagine three purposes for government intervention in the economy: allocation, when market failure causes the private outcome to be Pareto inefficient, distribution, when the private market outcome leaves some individuals with unacceptably low shares in the fruits of the economy, and stabilization, when the private market outcome leaves some of the economy's resources underutilized. The recent trend in economic research has tended to emphasize the character of stabilization problems as problems of allocation in the labor market. The effects that government intervention can have on the allocation and distribution of an economy's resources are described in terms of efficiency and incidence effects. These are the primary measures used to evaluate the welfare effects of government policy.
Book Synopsis Policy and Choice by : William J. Congdon
Download or read book Policy and Choice written by William J. Congdon and published by Brookings Institution Press. This book was released on 2011 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argues that public finance--the study of the government's role in economics--should incorporate principles from behavior economics and other branches of psychology.
Book Synopsis Weekly Weather and Crop Bulletin by :
Download or read book Weekly Weather and Crop Bulletin written by and published by . This book was released on 1984 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How Big Should Our Government Be? by : Jon Bakija
Download or read book How Big Should Our Government Be? written by Jon Bakija and published by Univ of California Press. This book was released on 2016-06-21 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: The size of government is arguably the most controversial discussion in United States politics, and this issue won't fade from prominence any time soon. There must surely be a tipping point beyond which more government taxing and spending harms the economy, but where is that point? In this accessible book, best-selling authors Jeff Madrick, Jon Bakija, Lane Kenworthy, and Peter Lindert try to answer whether our government can grow any larger and examine how we can optimize growth and fair distribution.
