The discussion about income versus consumption as the ideal tax base looks backon a long history. In recent years, the debate about income versus consumption as the bettertax base reemerged in the United States (2002) and in Germany (2006). In view of the longhistory of the debate, it is...

In entrepreneurial decisions making uncertain future prots often are a maincharacteristics of real investment opportunities. If investors can react touncertainty the degree of irreversibility and timing flexibility inherent in theavailable project should be integrated into the decision calculus....

This paper concerns optimal redistributive income taxation and provision of a public inputgood in a two-type model with a minimum wage policy implemented for the low-ability type,where firms may outsource part of the production process abroad, and where outsourcing issubstitutable for domestic...

Auf Grund des internationalen Wettbewerbsdrucks vereinbarten CDU, CSU und SPD in ihrem Koalitionsvertrag vom 11.11.2005 eine grundlegende Reform der Unternehmensbesteuerung. Rund 2 Jahre später stimmte der Bundesrat am 06.07.2007 dem Unternehmensteuerreformgesetz 2008 zu. Diese Reformvollzieht,...

This paper investigates the role of corporate taxation with respect to a multinational'sinvestment decision, in which the multinational can pursue either a direct or an indirectinvestment strategy. The latter involves at least three corporate entities and opens upenhanced opportunities for...

Wir untersuchen eine Gewinnsteuer in einer unsicheren Welt. Unser Steuersystem erlaubt einen zeitlich veränderlichen Steuersatz, aus diesem Grund wurde auch eine verallgemeinerte Zinskorrektur (ACE) eingeführt. Die Zinskorrektur ist insofern verallgemeinert, da sie einen Anteil des Produktes...

In a recent paper Loeffler/Schneider (2000) showed that introducing a tax on a financial market does not create an arbitrage opportunity...

Given its significance in practice, piecewise linear taxation has received relatively littleattention in the literature. This paper offers a simple and transparent analysis of its maincharacteristics. We fully characterize optimal tax parameters for the cases in which budgetsets are convex and...

The paper shows how commodity taxes can provide insurance to consumers when the producer price is volatile. Specific and ad valorem taxes have differing roles. The optimal specific tax is positive when demand has some elasticity. The optimal ad valorem rate is zero when demand is unit-elastic,...

Probably the most enduring result in the theory of optimum income taxation is that,for a sufficiently thin upper tail to the skill distribution, the marginal tax rate shouldfall rather than rise with income. This paper shows that this result is highly sensitiveto a very strong informational...