Within the confines of linear tax and complete market, we show that the efficiency force for a negative capital tax may …

participant of this market gets a tax subsidy since premiums are excluded from taxable income. However, people have different … receive implicit cross-subsidies from low-risk individuals. In this paper we explore several ways to reform the tax subsidy by … calibrate it using the Medical Expenditure Panel Survey Dataset. We find that even though the complete elimination of the tax …

The purpose of this paper is to analyze empirically the short- and long-run effects of tax shocks on private … show that the effects of tax shocks on the components of private consumption expenditure differ in the short- and long … expenditure, whereas in the long-run only two taxes the VAT and the personal income tax– affect it. However, it is important to …

We assess the consequences of substantially increasing the marginal tax rate on U.S. top earners using a human capital … model. We nd that (1) the peak of the model Laer curve occurs at a 52 percent top tax rate, (2) if human capital were … exogenous, then the top of the Laer curve would occur at a 66 percent top tax rate and (3) applying the theory and methods that …

.S. tax system, which reduces the disposable income and makes savings negative (dissaving or borrowing) has contributed to … first and then to reduce inflation and interest rates. The current one-sided monetary policy and the tax system need to be …

Marginal income taxes may have an insurance effect by decreasing the effective fluctuations of after-tax individual …

This paper studies the estate tax in a quantitative framework with business investment, borrowing constraints, estate … transmission, and wealth inequality. We find that the estate tax has little effect on the saving and investment decisions of small … distortions by eliminating the estate tax does not necessarily imply that everyone would be better off. If other taxes were raised …

Marginal income taxes may have an insurance effect by decreasing the effective fluctuations of after-tax individual …