The paper presents a general method for estimating a country's level of fundamental house prices and its interaction with actual house prices. We set up a unified empirical model which can be used to analyze the time-series behavior of the fundamental house price and to test various hypotheses...

We analyse recent proposals to shift the tax burden away from low-paid labour, assuming a dual labour market where the "good"high-paying jobs are rationed. A shift in the tax burden from low-paid to high-paid workers has an ambiguous effect on the level of aggregate employment while the...

This paper suggests that the optimal tax system should favour market-produced services which are close substitutes for home-produced services. First, we modify the classical Corlett-Hague rule for optimal commodity taxation by showing that it may be optimal to impose a relatively low tax rate on...

We analyse recent proposals to shift the tax burden away from low-paid labour, assuming a dual labour market where the 'good' high-paying jobs are rationed. A shift in the tax burden from low-paid to high-paid workers has an ambiguous effect on the level of aggregate employment while the...

We analyze how a country pursuing a unilateral climate policy may contribute to a reduction in global CO2 emissions in a cost-effective way. To do so its system of energy taxes and subsidies must account for leakage of emissions from the domestic to the foreign economy. We focus on leakage...

The article surveys some main results in the theory of capital income taxation in the open economy; reviews recent trends in international taxation and discusses alternative blueprints for fundamental capital income tax reform from the perspective of an open economy faced with growing mobility...

Intro -- Series Foreword -- Acknowledgments -- Introduction and Summary -- I Taxation and Labor Markets: The Broader Perspective -- 1 Tax Policy and Labor Market Performance -- 2 Work and Taxes -- 3 Do Social Policies Harm Employment and Growth? Second-best Effects of Taxes and Benets on...

We analyze how a country pursuing a unilateral climate policy may contribute to a reduction in global CO2 emissions in a cost-effective way. To do so its system of energy taxes and subsidies must account for leakage of emissions from the domestic to the foreign economy. We focus on leakage...