While rent taxation in some theories is neutral, and the tax rate could not be set to one hundred percent to minimize the need for distortionary taxes, this does not occur in practice. An important reason for this is the transfer incentives that would result. Monitoring to prevent transfer...

This paper employs a flexible dependent hazard rate model to examine the transition to work, job durations and subsequent transitions into and out of the welfare system for all the individuals who participated on a vocational rehabilitation program in Norway during 1995-2002. The effect of being...

In the general linear errors-in-variables model the main results have been derived under the assuption that the measurement errors are uncorrelated. However, as recognized by Bekker, Kapteyn and Wansbeek (BKW) (1997) and Lach (1993) this is often a problematic assumption to maintain in empirical...

Lund (2002a) showed in a CAPM-type model how tax depreciation schedules affect required expected returns after taxes. Even without leverage higher tax rates implied lower betas when tax deductions were risk free. Here they are risky, and marginal investment is taxed together with inframarginal...

This paper compares the political support for a targeted and a universalistic welfare policy in a model in which incomes are stochastic (so that welfare policies have an insurance benefit) and unequal ex ante (so that welfare policies have a redistributive effect). With self-interested voting,...