Author: Iván WerningPublisher:
ISBN:
Category : Social security taxes
Languages : en
Pages : 124
Book Description
Optimal Dynamic Taxation and Social Insurance
Author: Iván WerningPublisher:
ISBN:
Category : Social security taxes
Languages : en
Pages : 124
Book Description
Optimal Dynamic Taxation with Distinctive Forms of Social Status Attainment
Author: Juin-jen ChangPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
We examine the role of both consumption- and wealth-induced social comparisons in setting dynamic optimal income taxation. Under complete information, state-invariant labor income taxes are used to remedy the externality caused by consumption-induced social comparisons, while state-contingent capital income taxes are used to remedy the externalities caused by both consumption- and wealth-induced social comparisons. Under incomplete information, distinct types of agents are subject to an identical marginal capital income tax, which removes social comparisons. To solve the information problem, low-productivity agents could be subject to a lower marginal labor tax than high-productivity agents, which contradicts the traditional result in the Mirrlees-Stiglitz models.
The New Dynamic Public Finance
Author: Narayana R. KocherlakotaPublisher: Princeton University Press
ISBN: 1400835275
Category : Business & Economics
Languages : en
Pages : 230
Book Description
Optimal tax design attempts to resolve a well-known trade-off: namely, that high taxes are bad insofar as they discourage people from working, but good to the degree that, by redistributing wealth, they help insure people against productivity shocks. Until recently, however, economic research on this question either ignored people's uncertainty about their future productivities or imposed strong and unrealistic functional form restrictions on taxes. In response to these problems, the new dynamic public finance was developed to study the design of optimal taxes given only minimal restrictions on the set of possible tax instruments, and on the nature of shocks affecting people in the economy. In this book, Narayana Kocherlakota surveys and discusses this exciting new approach to public finance. An important book for advanced PhD courses in public finance and macroeconomics, The New Dynamic Public Finance provides a formal connection between the problem of dynamic optimal taxation and dynamic principal-agent contracting theory. This connection means that the properties of solutions to principal-agent problems can be used to determine the properties of optimal tax systems. The book shows that such optimal tax systems necessarily involve asset income taxes, which may depend in sophisticated ways on current and past labor incomes. It also addresses the implications of this new approach for qualitative properties of optimal monetary policy, optimal government debt policy, and optimal bequest taxes. In addition, the book describes computational methods for approximate calculation of optimal taxes, and discusses possible paths for future research.
Optimal Dynamic Fiscal Policy
Author: Aleh TsyvinskiOptimal Taxation & Social Insurance in a Lifetime Perspective
Author: Optimal Taxation and Social Insurance in a Lifetime Perspective
Author: Ary Lans BovenbergOptimal taxation and social insurance in a lifetime perspective
Author: Lans BovenbergPublisher:
ISBN:
Category : Social security
Languages : de
Pages : 30
Book Description
Optimal Taxation and Social Insurance with Endogenous Private Insurance
Author: Raj ChettyPublisher:
ISBN:
Category : Social security
Languages : en
Pages : 39
Book Description
This paper characterizes the welfare gains from redistributive taxation and social insurance in an environment where the private sector provides partial insurance. We analyze stylized models in which adverse selection, pre-existing information, or imperfect optimization in private insurance markets create a role for government intervention. We derive simple formulas that map reduced-form empirical estimates into quantitative predictions for optimal tax and social insurance policy. Applications to unemployment and health insurance show that taking private market insurance into account matters significantly for optimal benefit levels given existing empirical estimates of the key parameters.
EPRU Working Papers
Author: A. Lans BovenbergTaxation, Incomplete Markets, and Social Security
Author: Peter A. DiamondPublisher: MIT Press
ISBN: 9780262541824
Category : Business & Economics
Languages : en
Pages : 188
Book Description
An analysis of social security policy based on optimal tax theory.