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This paper discusses the nature and effects of social grants programmes in South Africa against the backdrop of international trends in the reform of social assistance systems. It shows that South Africa has a well-developed social assistance system that significantly reduces extreme poverty, in...
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Families with children receive preferential treatment in the U.S. federal income tax. Over the past 15 years, the real value of child tax benefits approximately doubled reaching nearly $1,900 per child in 2006. This paper examines the efficiency cost of providing child tax benefits. A...
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Political parties compete over income tax functions, and voters vote and decide whether to pay full taxes or to make an e®ort to modify their tax bur- den. We show that political parties only propose e±cient income tax func- tions, in a similar manner to the probabilistic voting theory....
Persistent link: https://www.econbiz.de/10008556788
Increasing marginal tax rates and making payments to the poor reduce inequality and introduce savings dis-incentives. Using a heterogeneous agent model with incomplete markets, we show that higher taxes (and transfers) decrease consumption inequality but also mean savings and mean consumption....
Persistent link: https://www.econbiz.de/10005802079
We investigate the relative merits of unconditional cash transfers (UCT), conditional cash transfers (CCT), and the effects of improvements in education quality on efficiency and welfare. In our setting, some parents underinvest in their children's education because capital market imperfections...
Persistent link: https://www.econbiz.de/10010665944
We study the impact of loan-to-value regulation on supply and demand for unregulated debt that is used for home acquisition. In our setting, part of the dwelling price is in the form of pre-existing debt exempt from the regulation. Variations in the latter prior to the LTV regulation generated...
Persistent link: https://www.econbiz.de/10013225436