1,721,179 research outputs found
BOFIT Discussion Papers - Taxation, growth and welfare: Dynamic effects of Estonia’s income tax act
Full text linkTaxation, growth and welfare: Dynamic effects of Estonia’s 2000 income tax act
Full text linkThis paper analyses the long-run effects of Estonia’s 2000 Income Tax Act with a dynamic general equilibrium model. Specifically, we consider the impact of the shift from an imputation system to one where companies only pay taxes on distributed profits. Balanced growth paths, transitional dynamics and welfare costs are computed. Our results indicate that the 2000 Income Tax Act leads to higher per capita income and investment, but lower welfare. A sensitivity analysis shows the results are rather robust.growth, welfare, taxation, tax reform, Estonia
Environmental policy in dynamic models: The impact of the elasticity of substitution if consumers pollute
Full text linkThis paper discusses first results of a comparative study of different environmental policy instruments. In a model with pollution as a side effect of consumption different environmental policies are studied. In simulations we observe the dynamic behavior of models with utility functions of the Leontief, CES, and Cobb-Douglas type. Environmental policy is modeled as a consumption tax. Tax revenues are used to pay a subsidy for environment-friendly activities, are reimbursed as lump-sum payments or vanish. Furthermore we investigate the implications of errors in the choice of instruments.Environmental policy instruments;Dynamic Model;Elasticity of substitution
Environmental policy in dynamic models with pollution by consumers: The impact of exogenous shocks and dozy politicians
Full text linkThe paper discusses questions resulting from a study of the interaction of exogenous shocks and environmental policy. In a model with pollution as a side effect of consumption environmental policy is introduced in the form of a consumption tax with or without a subsidy on eco-friendly investments. In simulations we observe the dynamic behavior of models before and after sudden changes of exogenous variables. These shocks are jumps in productivity or a sudden depreciation of capital. Additionally we examine the effect of a simultaneous appearance of both types of shocks. Furthermore we investigate the consequences of a lagged reaction of the policy agents.Environmental Policy Instruments;Exogenous Shocks
Taxation, growth and welfare: Dynamic effects of Estonia’s 2000 income tax act
Full text linkThis paper analyses the long-run effects of Estonia’s 2000 Income Tax Act with a dynamic general equilibrium model. Specifically, we consider the impact of the shift from an imputation system to one where companies only pay taxes on distributed profits. Balanced growth paths, transitional dynamics and welfare costs are computed. Our results indicate that the 2000 Income Tax Act leads to higher per capita income and investment, but lower welfare. A sensitivity analysis shows the results are rather robust.growth; welfare; taxation; tax reform; Estonia
Replication Package for: "Fair Pension Policies with Occupation-Specific Ageing"
No full text<p>This replication package contains the code to replicate the figures and tables of the paper "Fair Pension Policies with Occupation-Specific Ageing" by Volker Grossmann, Johannes Schünemann, and Holger Strulik, Economic Journal.</p>
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Inheritance tax-exempt transfer of German businesses: Imperative or unjustified subsidy? An empirical analysis
Full text linkThis contribution addresses the substantial tax subsidies for businesses introduced by the German Inheritance Tax Act 2009. Advocates in favour of the vast or even entire tax exemption for businesses stress the potential damage of the inheritance tax on businesses, as those often lack liquid assets to meet tax liability. This submission tackles this issue empirically based on data of the German Inheritance Tax Statistics and the SOEP. The results indicate that former German inheritance tax law has not endangered transferred businesses. Hence, there is no need for the tremendous tax privilege for businesses in current German inheritance tax law. A virtual uniformed inheritance tax without tax privileges, which meets revenue neutrality per tax class according to current tax law, provokes in some cases relative high tax loads which might trouble businesses. --
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Leverage as a Conditioning Variable for Employment: An Analysis of a Panel of West German Manufacturing Firms
No full textThis paper reports an attempt to implement financial factors into a neoclassical model of optimal factor demand. The theoretical shows that factor demand decisions of firms operating under monopolistic competition or with decreasing returns to scale are affected by financial restrictions. The theoretical model is estimated using West German firm data from 1987 to 1994. Keywords: Financial Restrictions, Labour Demand, Panel Data JEL classification: J23, C33 Corresponding author. Hamburg University, Department of Economics, Von Melle Park 5, 20146 Hamburg, Germany, Email: [email protected]. We would like to thank Wolf Maurer for his excellent research assistence and the German Research Foundation (Deutsche Forschungsgemeinschaft) for financial support under grant No. Fu 178/6- 1. The usual disclaimer applies. 1 Introduction Ever since the seminal article by Fazzari et al. (1988) it is widely recognised by economists that financial factors matter for investment. 1 ..
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