Optimal Taxation With Imperfect Competition And Aggregate Returns To Specialization
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Optimal Taxation With Imperfect Competition And Aggregate Returns To Specialization
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Author : Javier Coto-Martinez
language : en
Publisher:
Release Date : 2007
Optimal Taxation With Imperfect Competition And Aggregate Returns To Specialization written by Javier Coto-Martinez and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
"In this paper we explore the proposition that in economies with imperfect competitive markets the optimal capital income tax is negative and the optimal tax on firms profits is confiscatory. We show that if the total factor productivity as well as the measure of firms or varieties are endogenous instead of fixed, then the optimal fiscal policy can lead to different results. The government faces a trade-off between the fixed costs that society pays for the introduction of a new firm and the productivity gains associated to the introduction of a new variety. We find that the optimal fiscal policy depends on the relationship between the index of market power, the returns to specialization, and the government's ability to control entry"--Federal Reserve Bank of St. Louis web site.
The New Dynamic Public Finance
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Author : Narayana R. Kocherlakota
language : en
Publisher: Princeton University Press
Release Date : 2010-07-01
The New Dynamic Public Finance written by Narayana R. Kocherlakota and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-01 with Business & Economics categories.
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.
The Economics Of Imperfect Competition
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Author : Joan Robinson
language : en
Publisher: Springer
Release Date : 1969-07-01
The Economics Of Imperfect Competition written by Joan Robinson and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1969-07-01 with Business & Economics categories.
Trade Policy Issues And Empirical Analysis
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Author : Robert E. Baldwin
language : en
Publisher: University of Chicago Press
Release Date : 2008-04-15
Trade Policy Issues And Empirical Analysis written by Robert E. Baldwin and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-04-15 with Business & Economics categories.
Interest in U.S. trade policy has been stimulated in recent years by the massive American trade deficit, by the belief that intervention by foreign governments in international markets has given other countries a competitive edge over the United States, and by concern about the increase in protectionism among industrial countries. In turn, major analytical developments in international economics have revolutionized trade theory, broadening its scope both by introducing in a more formal manner such concepts as imperfect competition, increasing returns, product differentiation, and learning effects and by including the study of political and economic factors that shape trade policy decisions. This collection of papers—the result of a conference held by the NBER—applies these "new" trade theories to existing world cases and also presents complementary empirical studies that are grounded in more traditional trade theories. The volume is divided into four parts. The papers in part 1 consider the problem of imperfect competition, empirically assessing the economic effect of various trade policies introduced in industries in which the "new" trade theory seems to apply. Those in part 2 isolate the effects of protection from the influences of the many economic changes that accompany actual periods of protection and also examine how the effects from exogenous changes in economic conditions vary with the form of protection. Part 3 provides new empirical evidence on the effect of foreign production by a country's firms on the home country's exports. Finally, in part 4, two key bilateral issues are analyzed: recent U.S.-Japanese trade tensions and the incident involving the threat of the imposition of countervailing duties by the United States on Canadian softwood lumber.
International Trade Policy With Imperfect Competition
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Author : Richard W. T. Pomfret
language : en
Publisher:
Release Date : 1992
International Trade Policy With Imperfect Competition written by Richard W. T. Pomfret and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business & Economics categories.
The Monopolistic Competition Revolution In Retrospect
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Author : Steven Brakman
language : en
Publisher: Cambridge University Press
Release Date : 2011-07-21
The Monopolistic Competition Revolution In Retrospect written by Steven Brakman and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-07-21 with Business & Economics categories.
Avinash Dixit and Joseph Stiglitz revolutionized the modelling of imperfectly competitive markets and launched "the second monopolistic competition revolution". Experts in the areas of macroeconomics, international trade theory, economic geography, and international growth theory examine the success of the second revolution in this collection of papers. They reveal what appears to be "missing" and look forward to the next step in the modelling of imperfectly competitive markets. The text includes a comprehensive survey of the two monopolistic competition revolutions, and previously unpublished working papers by Dixit and Stiglitz that led to their famous 1977 paper.
Increasing Returns And Economic Efficiency
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Author : Y. Ng
language : en
Publisher: Springer
Release Date : 2009-04-30
Increasing Returns And Economic Efficiency written by Y. Ng and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-04-30 with Business & Economics categories.
Recognizing increasing returns disrupts much of the established wisdom in economic analysis, making money non-neutral, equity conflict with freedom, and encouraging goods with increasing returns efficient. This book discusses these problems and ways they can be handled, helping to explain phenomena in the real world.
The Theory Of Taxation For Developing Countries
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Author : David M. G. Newbery
language : en
Publisher: Oxford University Press, USA
Release Date : 1987
The Theory Of Taxation For Developing Countries written by David M. G. Newbery and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with Business & Economics categories.
Written by experts in the field, this book uses the modern theory of public finance to analyze tax and pricing policy in developing countries.
An East Asian Renaissance
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Author : Indermit Singh Gill
language : en
Publisher: World Bank Publications
Release Date : 2007
An East Asian Renaissance written by Indermit Singh Gill and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Business & Economics categories.
An East Asian Renaissance, by a World Bank team led by Chief Economist for East Asia & Pacific, Dr Homi Kharas and Economic Adviser, Dr Indermit Gill is the first comprehensive analysis of the new forces and challenges at play in the region since the Bank's seminal report of 1993, The East Asian Miracle. The report argues that regional flows of goods, finance and technology are helping even smaller East Asian countries reap the benefits of economies of scale and that this regional integration must be encouraged. But it also points out that these measures have to be supported by actions at the domestic level to ease the stresses and strains that rapid economic growth leaves in its wake. East Asia must now turn to the urgent domestic challenges of inequality, social cohesion, corruption and environmental degradation arising from its economic success.
Optimal Redistributive Taxation
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Author : Matti Tuomala
language : en
Publisher: Oxford University Press
Release Date : 2016
Optimal Redistributive Taxation written by Matti Tuomala and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Business & Economics categories.
Tax systems raise large amounts of revenue for funding public sector's activities, and tax/transfer policy, together with public provision of education, health care, and social services, play a crucial role in treating the symptoms and the causes of poverty. The normative analysis is crucial for tax/transfer design because it makes it possible to assess separately how changes in the redistributive criterion of the government, and changes in the size of the behavioural responses to taxes and transfers, affect the optimal tax/transfer system. Optimal tax theory provides a way of thinking rigorously about these trade-offs. Written primarily for graduate students and researchers, this volume is intended as a textbook and research monograph, connecting optimal tax theory to tax policy. It comments on some policy recommendations of the Mirrlees Review, and builds on the authors work on public economics, optimal tax theory, behavioural public economics, and income inequality. The book explains in depth the Mirrlees model and presents various extensions of it. The first set of extensions considers changing the preferences for consumption and work: behavioural-economic modifications (such as positional externalities, prospect theory, paternalism, myopic behaviour and habit formation) but also heterogeneous work preferences (besides differences in earnings ability). The second set of modifications concerns the objective of the government. The book explains the differences in optimal redistributive tax systems when governments - instead of maximising social welfare - minimise poverty or maximise social welfare based on rank order or charitable conservatism social welfare functions. The third set of extensions considers extending the Mirrlees income tax framework to allow for differential commodity taxes, capital income taxation, public goods provision, public provision of private goods, and taxation commodities that generate externalities. The fourth set of extensions considers incorporating a number of important real-word extensions such as tagging of tax schedules to certain groups of tax payers. In all extensions, the book illustrates the main mechanisms using advanced numerical simulations.