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Shock Value : Bill Smoothing and Energy Price Pass-Through

Hausman, Catherine - 2018

Energy prices are volatile, affect every consumer and industry in the economy, and are impacted by regulations including gas taxes and carbon pricing. Like the pass-through literature in general, the growing energy pass-through literature focuses on marginal prices. However, multi-part pricing...

Persistent link: https://www.econbiz.de/10012920363

The Economics of Taxing the Rich

Slemrod, Joel - 2021

How much and how to tax high-income individuals is at the core of many recent proposals for incremental as well as fundamental tax reform. This paper critically reviews the economics literature and concludes that the right answer to these questions depends in part on value judgments about which...

Persistent link: https://www.econbiz.de/10013221514

Optimal Taxation of Entrepreneurial Capital with Private Information

Albanesi, Stefania - 2021

This paper studies optimal taxation of entrepreneurial capital with private information and multiple assets … asset taxation is optimal. Marginal taxes on bonds depend on the correlation of their returns with idiosyncratic capital … double taxation of capital income â€" at the firm level and at the investor level. Finally, we show that taxation of assets …

Persistent link: https://www.econbiz.de/10013224378

Debt Policy and the Rate of Return Premium to Leverage

Kane, Alex; Marcus, Alan J.; McDonald, Robert L. - 2021

Equilibrium in the market for real assets requires that the price of those assets be bid up to reflect the tax shields they can offer to levered firms.Thus there must be an equality between the market values of real assets and the values of optimally levered firms. The standard measure of the...

Persistent link: https://www.econbiz.de/10013224422

Debt and Taxes in the Theory of Public Finance

Feldstein, Martin S. - 2021

If a specified amount of government spending must be financed, how should that finance be divided between taxes and government borrowing? In the case of a temporary increase in government spending, it has been argued that debt finance is optimal because the small increments in all future tax...

Persistent link: https://www.econbiz.de/10013225423

Integrating Expenditure and Tax Decisions : The Marginal Cost of Funds and the Marginal Benefit of Projects

Slemrod, Joel; Yitzhaki, Shlomo - 2021

This paper seeks to clarify the extent to which the rule for providing public goods ought to correct for the distortionary cost of raising funds. We argue that, in evaluating public projects, the marginal cost of funds (MCF) concept must be supplemented by a symmetrical concept, which we label...

Persistent link: https://www.econbiz.de/10013226549

Efficiency Effects on the U.S. Economy from Wireless Taxation

Hausman, Jerry A. - 2021

This paper measures for the first time the economic efficiency effects of the taxation of wireless services, which are …

Persistent link: https://www.econbiz.de/10013226553

How Tax Complexity and Enforcement Affect the Equity and Efficiency of the Income Tax

Kaplow, Louis - 2021

Much criticism of the income tax involves administration: the enormous complexity of the system is responsible for large compliance costs, public and private, and the tax gap is large despite substantial resources devoted to enforcement. The desire for simplification and improved compliance...

Persistent link: https://www.econbiz.de/10013237016

The Growth in Social Security Benefits Among the Retirement Age Population from Increases in the Cap on Covered Earnings

Gustman, Alan L. - 2010

This paper investigates how increases in the level of maximum earnings subject to the Social Security payroll tax have affected Social Security benefits and taxes. The analysis uses data from the Health and Retirement Study to ask how different the present value of own benefits and taxes would...

Persistent link: https://www.econbiz.de/10013136554

A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier

Chahrour, Ryan - 2010

The SVAR and narrative approaches to estimating tax multipliers deliver significantly different results. The former yields multipliers of about 1 percent, whereas the latter produces much larger multipliers of about 3 percent. The SVAR and narrative approaches differ along two important...

Persistent link: https://www.econbiz.de/10013141281