Author: Søren Bo NielsenPublisher:
ISBN:
Category :
Languages : en
Pages : 34
Book Description
Capital Taxation, Housing Investment and Wealth Accumulation in a Small Open Economy
Author: Søren Bo NielsenCapital Taxation, Housing Investment and Wealth Accumulation in a Small Open Economy : Presented at the Second International Macroeconomics Programme Meeting, Madrid, Spain, 7nd and 8nd June 1991
Author: Soren Bo NielsenOpen-Economy Macroeconomics
Author: Helmut FrischPublisher: Springer
ISBN: 1349128848
Category : Business & Economics
Languages : en
Pages : 437
Book Description
The integration of market economies is one of the most remarkable features of international economics, which has important implications for macroeconomic performance in open economies. Equally important is the declining relevance of the real versus the monetary theory dichotomy. These papers focus on those aspects of monetary policy which relate to credibility and non-neutrality; the domestic adjustment to foreign shocks; the interdependence of open economies and their strategic interactions. An important section is also devoted to the innovative modelling of exchange rate dynamics.
Housing Taxation and Capital Accumulation
Author: Martin GervaisPublisher: London : Department of Economics, University of Western Ontario
ISBN: 9780771421037
Category :
Languages : en
Pages : 39
Book Description
Rising Inequality in China
Author: Shi LiPublisher: Cambridge University Press
ISBN: 1107002915
Category : Business & Economics
Languages : en
Pages : 531
Book Description
This book examines the evolution of economic inequality in China from 2002 to 2007; a sequel to Inequality and Public Policy in China (2008).
Vanishing Tax on Capital Income in the Open Economy
Author: Assaf RazinPublisher:
ISBN:
Category : Capital gains tax
Languages : en
Pages : 30
Book Description
The increased integration of the world capital market implies that the supply of capital becomes more elastic, and therefore potentially a less efficient base for taxation. In general, the optimal taxation of capital income is subject to two conflicting forces. On the one hand the return on existing capital is a pure rent which is efficient to fully tax away. On the other hand taxing the returns on investment in new capital would retard growth, thus generating inefficiencies. Capturing these considerations, the paper carries out a simple optimal tax analysis for an open economy, which is fully integrated in the world capital markets. The analysis identifies well defined circumstances in which the capital income tax vanishes.
Optimal Capital Income Taxes and Capital Controls in Small Open Economies
Author: Bernd HuberPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
This paper studies the optimal taxation of capital income in a simple model of a small open economy where domestic residents can evade taxes on their foreign investment income. The national government can only tax domestic capital income and can impose capital controls, which, however, absorb real resources. The design of optimal policy in this model depends on the revenue needs of the government. For relatively low levels of government expenditures, it turns out that the country does not levy capital income taxes but may restrict capital exports. Otherwise, the country taxes domestic capital income and sets capital controls such that capital exports are driven to zero, at an optimum. In contrast to other models with capital controls, it turns out that this policy can lead to underinvestment in domestic capital.
The Status of Capital Income Taxation in the Open Economy
Author: Assaf RazinDimensions of Tax Design
Author: James A. MirrleesPublisher: Oxford University Press
ISBN: 0199553750
Category : Business & Economics
Languages : en
Pages : 1360
Book Description
The Review was chaired by Nobel Laureate Professor Sir James Mirrlees of the University of Cambridge and the Chinese University of Hong Kong. --
Capital Income Taxation and Risk-taking in a Small Open Economy
Author: Patrick K. AseaPublisher:
ISBN:
Category : Capital gains tax
Languages : en
Pages : 62
Book Description
How do capital income taxes affect household portfolio choice and growth? We" approach this question within the context of a stochastic model of a small open economy in" which taxes on income from domestic capital (equity) and foreign bonds affect household" portfolio choice, welfare and the growth rate of the economy. The theoretical and numerical" analysis demonstrates the important role that risk plays in determining the mean and variability" of growth as well as the conditions under which a higher tax rate can be welfare improving. To" shed more light on the complex theoretical interaction between taxes and risk-taking we estimate" a reduced-form multinomial probit model of household portfolio choice using the method of" simulated moments. The empirical evidence is in stark contrast to the conventional wisdom " we find that higher taxes make it less likely that the household will hold risky assets."