Browsing Tax and Expenditure Policy by Title
Now showing items 1-20 of 41
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Consumption-Based Direct Taxes: A Guided Tour of the Amusement Park
(2007)Although consumption-based direct taxation has long been advocated in academic and policy circles, very few countries have actually implemented such taxes. This article provides an overview of alternative approaches to direct consumption taxation and examines arguments favoring consumption taxes over income taxes. It then describes and analyzes efforts ... -
The Financial Crisis of 2008
(2008) -
Financial Integration and Cyclicality of Monetary Policy in Small Open Economies
(2007)Should countries follow counter-cyclical or pro-cyclical monetary policies? This paper documents that in contrast to developed economies, developing countries tend to follow pro-cyclical monetary policies. The paper then constructs a New-Keynesian small open economy model with wage rigidity and solves for the optimal monetary policy under different ... -
Fundamental Tax Reform: Then and Now
(2011) -
The Impact of H.R. 25 on Housing and the Homebuilding Industry
(2008)This report examines the macroeconomic and transitional effects of implementing a specific type of consumption tax reform—the national retail sales tax known as the FairTax, as specified in H.R. 25—with a focus on the effects of such a reform on the housing sector, including reforminduced reductions in the prices of existing housing. The analysis is ... -
Income Volatility and Mobility: U.S. Income Tax Data, 1999-2007
(2010)How do earnings volatility and mobility impact different income groups? We describe household earnings volatility by the full distribution of percent earnings changes and contrast measures of relative and absolute mobility using a panel of U.S. income tax returns from 1999 to 2007. While earnings volatility looks similar across most of the income ... -
Intrajurisdictional capitalization and the incidence of the property tax
(2014)Two views dominate the debate about property tax incidence — the “capital tax” or “new” view, under which the tax distorts capital allocation and is borne primarily by capital owners, and the “benefit tax” view, under which the tax is an efficient user charge. Evidence of both interjurisdictional and intrajurisdictional capitalization of property ...
