Showing 1 - 10 of 35
With increased Internet usage in the EU, U.S. retailers have intensified their marketing efforts to reach these consumers. A major challenge for retailers selling online is that they must comply with the laws where the consumers reside. Past studies suggest that U.S. firms are not in full...
Persistent link: https://www.econbiz.de/10011140628
Persistent link: https://www.econbiz.de/10005425252
Optimal tax policies in dynamic models have unappealing features. In particular, optimal tax reform typically involves a large initial accumulation of government assets which is responsible for a large part of the welfare gains from optimal tax reform. In this paper, we investigate the...
Persistent link: https://www.econbiz.de/10005412618
In this paper, we document some features of the distribution of income, consumption and wealth in Canada using survey data from many different sources. We find that wage and income inequality has increased substantially over the last 30 years, but that much of this rise was offset by the tax and...
Persistent link: https://www.econbiz.de/10004971197
even greater extent than what tax deductibility implies.
Persistent link: https://www.econbiz.de/10011080974
In this paper we quantitatively investigate the implications of a model of consumption risk sharing where infinitely-lived households are subject to exogenous idiosyncratic shocks to their earnings, and where the realization of these shocks are private information. Our theoretical contribution...
Persistent link: https://www.econbiz.de/10011081494
In this paper, we study consumption risk sharing when individual income shocks are persistent and not publicly observable, and individuals can default on contracts at the price of financial autarky. We find that, in contrast to a model where the only friction is limited enforcement, our model...
Persistent link: https://www.econbiz.de/10011212793
In this paper we study how a benevolent government that cannot commit to future policy should trade off the costs and benefits of public expenditure. We characterize and solve for Markov-perfect equilibria of the dynamic game between successive governments. The characterization consists of an...
Persistent link: https://www.econbiz.de/10010970175
In this paper we explore the implications of tax competition between two jurisdictions in a neoclassical growth model under the assumption of perfect capital mobility. The government of each jurisdiction solves an optimal taxation problem under commitment, treating the other government's...
Persistent link: https://www.econbiz.de/10010961323
Several approaches to finding the second-order approximation to a dynamic model have been proposed recently. This paper differs from the existing literature in that it makes use of the Magnus and Neudecker (1999) definition of the Hessian matrix. The key result is a linear system of equations...
Persistent link: https://www.econbiz.de/10005005738