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This article examines and quantifies the relationship between local amenities and prices in an equilibrium model, demonstrating the role of non-traded goods and federal taxes. I derive formulae using factor shares to infer local land rents, productivity, and the total value of amenities from...
Persistent link: https://www.econbiz.de/10004969346
Tax reforms usually change both tax rates and tax bases. Using a panel of income tax returns spanning the two major U.S. tax reforms of the 1980s and a number of smaller tax law changes, I find that the elasticity of income reported on personal income tax returns depends on the available...
Persistent link: https://www.econbiz.de/10005087480
Most countries exhibit large and persistent geographical differences in wages, income and unemployment rates. A growing class of "place based" policies attempt to address these differences through public investments and subsidies that target disadvantaged neighborhoods, cities or regions. Place...
Persistent link: https://www.econbiz.de/10010887109
Standard models of fiscal federalism suggest many benefits of decentralization in developing economies, and there has been a recent push toward decentralization around the world. However, developing countries presently still have less decentralization, particularly on the revenue side, than both...
Persistent link: https://www.econbiz.de/10010822001
We study the effects of capital income taxation on long run growth in an endogenous growth framework with two distinguishing features: endogenous population and international capital mobility. Endogenizing population growth introduces a new channel for taxes to affect economic growth and enables...
Persistent link: https://www.econbiz.de/10005775091
I discuss the tax treatment of transborder capital income, focussing on prevailing arrangements rather than de novo design of optimal tax arrangements. These comprise unilateral reliefs from double taxation under credit or exemption systems, and treaty reliefs (largely following the OECD model...
Persistent link: https://www.econbiz.de/10005575394
Just like any trade activity in well-functioning markets, migration tends to enhance the efficiency of the allocation … of resources. With non-distortionary income distribution policy instruments which can compensate losers, migration … wages are rigid, migration exacerbates imperfections in the market. Consequently, it may lead to losses to the established …
Persistent link: https://www.econbiz.de/10005710894
Conventional wisdom holds that lack of government commitment deters foreign investment in developing countries. Yet this explanation is not convincing because some econometric studies have found little support for the role of political risk and host governments can offer upfront subsidies that...
Persistent link: https://www.econbiz.de/10005828539
Oates reminds us that tax competition among localities in the presence of capital mobility, may lead to inefficiently low tax rates (and benefits). In contrast, the Tiebout paradigm suggests that tax competition yields an efficient outcome, so that there are no gains from tax coordination. This...
Persistent link: https://www.econbiz.de/10008784912
This paper provides overview of recent work on migration and welfare state tax policies: 1. I survey the literature on … the tax burden of migration. 2. I empirically identify the differential effect of the generosity of the welfare state on … the skill composition of immigrants across the two groups (the "free-migration" group and the "policy-restricted migration …
Persistent link: https://www.econbiz.de/10010821980