This paper analyses how governance or institutional quality and tax morale affect the shadoweconomy, using an international country panel and also within country data. The literaturestrongly emphasizes the quantitative importance of these factors to understand the level andchanges of shadow...

International comparisons of minimum-wage levels have largely focused on the gross valueof minimum wages, ignoring the effects of taxation on both labour costs and the net incomeof employees. This paper presents estimates of the tax burdens facing minimum-wageworkers. These are used as a basis...

In this article we use contingent-claim analysis to calculate theeffective tax rate (ETR) under corporate debt finance. In particular,we deal with both pure debt and two of the most well-known hybridsecurities, i.e., convertible, and reverse convertible bonds...

The rational prodigality argument, which often serves to justify social security,is considered in a second-best tax framework with endogenous labor supply. Rationalprodigality renders the familiar policies time inconsistent. We analyze time consistentpolicies and show that a wage tax suffices to...

The purpose of this paper is to investigate the effect of privatization in a mixed duopoly, wherea private firm competes in quantities with a welfare-maximizing public firm. We consider twoinefficiencies of the public sector: a possible cost inefficiency, and an allocative inefficiencydue to the...

This paper investigates informal employment in Brazil's highly regulated labor market, focusing on the intensive margin of informality within formal firms. Using a comprehensive dataset of labor audits conducted from 1997 to 2012, we find that formal firms caught with informal workers face...

The main aim of the article is to evaluate performance of loan and guarantee funds in Poland. The system of SMEs support through loans and guarantees in Poland was created 24 years ago and it is ready for assessment. In many other countries similar institutions operate, however the question: How...

Although agriculture is an important source of greenhouse gas emissions, the sector remains out of scope for greenhouse gas (GHG) pricing policies. To align the future food system with the transition to net zero emissions, two key questions arise: To what extent can tax policies help achieving...

We adopted an empirical approach to capture the macroeconomic impact of tax changes for the examined period from 1974 to 2018. It is generally accepted that vector autoregression model (VAR) has proven useful for describing the dynamic interrelationships of multivariate series. Our empirical...

German history over the past 125 years has been turbulent. Marked by two world wars, revolutions and major regime changes, as well as a hyperinflation and three currency reforms, expropriations and territorial divisions, it comprises extreme shocks to study the role of historical events,...