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The Economic Effects of Energy Price Shocks

Kilian, Lutz - C.E.P.R. Discussion Papers - 2007

Large fluctuations in energy prices have been a distinguishing characteristic of the U.S. economy since the 1970s. Turmoil in the Middle East, rising energy prices in the U.S. and evidence of global warming recently have reignited interest in the link between energy prices and economic...

Persistent link: https://www.econbiz.de/10005504581

Estimating the Effect of a Gasoline Tax on Carbon Emissions

Davis, Lucas W; Kilian, Lutz - C.E.P.R. Discussion Papers - 2009

Several policymakers and economists have proposed the adoption of a carbon tax in the United States. It is widely recognized that such a tax in practice must take the form of a tax on the consumption of energy products such as gasoline. Although a large existing literature examines the...

Persistent link: https://www.econbiz.de/10005124012

Market Size and Pharmaceutical Innovation

de Mouzon, Oliver; Dubois, Pierre; Scott Morton, Fiona; … - C.E.P.R. Discussion Papers - 2011

the elasticity of innovation, as measured by the number of new chemical entities appearing on the market for a given … additional new chemical entity. An elasticity substantially and significantly below one-half is also a plausible implication of …

Persistent link: https://www.econbiz.de/10009003149

The use of tax havens in exemption regimes

Gumpert, Anna; Hines Jr, James R; Schnitzer, Monika - C.E.P.R. Discussion Papers - 2012

This paper analyzes the tax haven investment behavior of multinational firms from a country that exempts foreign income … reallocating taxable income dampen these incentives. The behavior of German manufacturing firms from 2002-2008 is consistent with … face in reallocating taxable income. …

Persistent link: https://www.econbiz.de/10011084127

How would the design of an alternative minimum tax impact the effective corporate tax rate in Belgium?

Daxbek, Vincent; Estache, Antonio - C.E.P.R. Discussion Papers - 2013

revenue, the ETR of an income based AMT would increase to 24.3% illustrating the potential payoff of a significant … simplification of the current system. For a politically viable asset based AMT, it would roughly double the ETR. An income based AMT … better off under an asset based AMT than under an income based AMT. But any decision on the AMT in Belgium is likely to be …

Persistent link: https://www.econbiz.de/10011084174

Inequality, Tax Avoidance, and Financial Instability

Landier, Augustin; Plantin, Guillaume - C.E.P.R. Discussion Papers - 2011

We model the link between inequality and excessive risk taking. In the presence of increasing returns to tax avoidance, the middle class is willing to take non rewarded financial risk despite risk aversion. Electoral pressure may lead an incumbent politician to endorse this excessive risk taking...

Persistent link: https://www.econbiz.de/10009371468

The Impact of Controlled Foreign Company Legislation on Real Investments Abroad: A Two-dimensional Regression Discontinuity Design

Egger, Peter; Wamser, Georg - C.E.P.R. Discussion Papers - 2011

Controlled foreign company (CFC) rules are frequently imposed by countries as part of their anti-tax-avoidance legislation. This paper aims at quantifying their impact on foreign investments by utilizing a regression discontinuity design and the universe of German foreign investments notified to...

Persistent link: https://www.econbiz.de/10009144735

Optimal Taxation and Monopsonistic Labour Market: Does Monopsony Justify the Minimum Wage?

Cahuc, Pierre; Laroque, Guy - C.E.P.R. Discussion Papers - 2007

We analyze optimal taxation in an economy with monopsonistic labour markets. The individuals, whose only decisions are whether to work, or not, have heterogeneous productivities and opportunity costs of work. Given its preferences for redistribution, the government, which does not observe the...

Persistent link: https://www.econbiz.de/10005504333

On the Optimal Timing of Taxes

Hassler, John; Krusell, Per; Storesletten, Kjetil; … - C.E.P.R. Discussion Papers - 2004

This Paper analyses the optimal timing of taxes on capital income. We show that the celebrated result that taxes should …

Persistent link: https://www.econbiz.de/10005504592

The Complexity of Economic Policy: I. Restricted Local Optima in Tax Policy Design

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2002

Economists traditionally tackle normative problems by computing optimal policy, ie the one that maximizes a social welfare function. In practice, however, a succession of marginal changes to a limited number of policy instruments are implemented, until no further improvement is feasible. I call...

Persistent link: https://www.econbiz.de/10005504617