Economics Working Papers
Author | : Knud Jørgen Munk |
Publisher | : |
Total Pages | : |
Release | : 2006 |
Genre | : |
ISBN | : |
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Author | : Knud Jørgen Munk |
Publisher | : |
Total Pages | : |
Release | : 2006 |
Genre | : |
ISBN | : |
Author | : Knud Jørgen Munk |
Publisher | : |
Total Pages | : |
Release | : 2008 |
Genre | : |
ISBN | : |
Author | : Knud Jørgen Munk |
Publisher | : |
Total Pages | : |
Release | : 2006 |
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ISBN | : |
Author | : Rodrigo Mariscal |
Publisher | : International Monetary Fund |
Total Pages | : 46 |
Release | : 2018-11-08 |
Genre | : Business & Economics |
ISBN | : 1484384199 |
In this paper we analyze the incidence of the VAT and its effects on the income distribution. To identify these effects, we rely on two tax reforms undertaken in Mexico that increased the VAT rate for a group of cities and left the rest unaffected. We compare the inflation rate of the affected cities with the exempted cities before and after the law changed. We find that the effect on prices is limited and conclude that the burden of the tax is indeed shared between producers and consumers. Regarding welfare, we find that the VAT is progressive in both absolute and relative terms to the overall expenditure. Finally, we show that an identical change in the VAT rate when inflation is high and persistent doubles its pass-through to inflation and its welfare loss for the average household.
Author | : Knud Jørgen Munk |
Publisher | : |
Total Pages | : |
Release | : 2008 |
Genre | : |
ISBN | : |
Author | : Avinash Dixit |
Publisher | : |
Total Pages | : |
Release | : 1974 |
Genre | : |
ISBN | : |
Author | : Knud J. Munk |
Publisher | : |
Total Pages | : 23 |
Release | : 2008 |
Genre | : |
ISBN | : |
Dixit's 1975 paper quot;Welfare Effects of Tax and Price Changesquot; constitutes a seminal contribution to the theory of tax reform within a second-best general equilibrium framework. The present paper clarifies ambiguities with respect to normalisation which has led to misinterpretation of some of Dixit's analytical results. It proves that a marginal tax reform starting from a proportional tax system will improve social welfare if it increases the supply of labour, whatever the rule of normalisation adopted. In models which impose additive separability between consumption and leisure in household preferences this insight cannot be articulated. This paper proposes as an alternative a parameterised utility function with explicit representation of the use of time, the CES-UT, which allows a flexible representation of the relationship between consumption and leisure. It also demonstrates how standard compensated price elasticities can be derived from the parameters of the CES-UT and how it may be used for applied tax reform analysis.
Author | : John Creedy |
Publisher | : Edward Elgar Publishing |
Total Pages | : 248 |
Release | : 1998 |
Genre | : Business & Economics |
ISBN | : |
This book provides an introductory review of alternative concepts and practical approaches to measurement of welfare as well as providing a number of practical examples of welfare analyses in a variety of contexts.
Author | : Martin Feldstein |
Publisher | : University of Chicago Press |
Total Pages | : 374 |
Release | : 2007-12-01 |
Genre | : Business & Economics |
ISBN | : 0226241769 |
In recent years, the Federal Reserve and central banks worldwide have enjoyed remarkable success in their battle against inflation. The challenge now confronting the Fed and its counterparts is how to proceed in this newly benign economic environment: Should monetary policy seek to maintain a rate of low-level inflation or eliminate inflation altogether in an effort to attain full price stability? In a seminal article published in 1997, Martin Feldstein developed a framework for calculating the gains in economic welfare that might result from a move from a low level of inflation to full price stability. The present volume extends that analysis, focusing on the likely costs and benefits of achieving price stability not only in the United States, but in Germany, Spain, and the United Kingdom as well. The results show that even small changes in already low inflation rates can have a substantial impact on the economic performance of different countries, and that variations in national tax rules can affect the level of gain from disinflation.
Author | : Jeffrey D. Petchey |
Publisher | : |
Total Pages | : 0 |
Release | : 2003 |
Genre | : |
ISBN | : |
The present paper illustrates that changes in national commodity and income tax rates will affect the location choices of mobile factors of production within an economy with regions as well as the total supply of these factors to the economy. It is also argued that revenue (expenditure) neutral changes in the tax mix, for example, an increase in the commodity tax combined with a decrease in the income tax rate, will affect the domestic distribution of mobile factors, their supply to the economy and social welfare. In other words, revenue neutrality should not be used as a guide to the welfare effects of tax mix changes.