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Showing papers in "Journal of Public Economics in 1980"


Journal ArticleDOI
TL;DR: In this paper, the authors assume that differences in observed income are due to exogenous differences in luck, and derive the optimal forms for linear and nonlinear taxes, and compute some algebraic and numeric examples.

608 citations



Journal ArticleDOI
TL;DR: In contrast to more conventional models, the optimal tax schedule may have discontinuities and may involve subsidization of the work of low-earners as discussed by the authors, making their skills unobservable.

228 citations


Journal ArticleDOI
TL;DR: In this article, the authors model a household's choice of tenure and demand for housing services as a joint decision imposing the restriction that both discrete and continuous decisions are derived from a single preference ordering.

213 citations


Journal ArticleDOI
TL;DR: In this paper, an empirical cross-section study of the retirement decisions of American white men between the ages of 58 and 67, predicated on the theoretical notion that an individual retires when his reservation wage exceeds his market wage.

147 citations


Journal ArticleDOI
TL;DR: In this paper, the U.S. Social Security Administration, in cooperation with similar agencies in other countries, recently developed estimates of social security benefits for twelve major industrial countries, and used these data to estimate the effects of Social Security benefits on saving and retirement in an extended life cycle model.

138 citations


Journal ArticleDOI

136 citations


Journal ArticleDOI
TL;DR: In this article, the authors analyze the structure of an optimal linear income tax when workers are uncertain about their wages at the time they choose their labor supplies, and show that given imperfect information about wages, lump-sum taxation is not necessarily efficient.

129 citations


Journal ArticleDOI
TL;DR: In this paper, the authors present estimates of the price and income elasticities of charitable contributions with respect to the tax-defined "price" of giving, where the price is the net cost to the taxpayer per dollar of giving.

120 citations


Journal ArticleDOI
TL;DR: In this paper, the authors developed a framework for determining optimal monetary and fiscal policies in perfect foresight equilibria, where all underlying demand and supply functions are derived from optimizing behavior, expectations are realized, and all markets clear.

119 citations


Journal ArticleDOI
TL;DR: In this paper, the authors compare the production efficiency of public and private utilities to determine if a significant cost differential results from different behavioral objectives under the alternative modes of ownership, and find that public firms minimize cost and have 24-33% lower per unit costs than their privately owned counterpart.

Journal ArticleDOI
TL;DR: In this paper, the authors show that the cost of any distortion, arising without the aid of resource-using lobbying addressed to having the distortion implemented, is not necessarily less than that of the same distortion arising with the assistance of such lobbying, and this refutation of the prevalent assertions to the contrary reflects the second best nature of the problem at hand.

ReportDOI
TL;DR: The authors measured the relative valuation of dividends and capital gains in the stock market, using a variant of the capital asset pricing model and found that the measured value of dividends relative to capital gains tends to be higher during prosperous periods, as is consistent with this interpretation.

Journal ArticleDOI
TL;DR: In this paper, the authors investigated the determinants of retirement decisions in the UK and used maximum likelihood techniques to estimate the utility function and quantified the influence of pensions, wages and personal characteristics (age, health, status, etc.) on the probability of partial and complete withdrawal from the labour market.

Journal ArticleDOI
TL;DR: In this article, a simple theoretical model of tax evasion behavior is used to analyse whether a large fine (with small probability of detection) is a more powerful deterrent to tax evasion than a high probability of detecting (with a small penalty).


Journal ArticleDOI
TL;DR: In this article, the authors investigate when such price-independent prescriptions are theoritically justified and provide several joint characterization theorems of price-independence in the context of welfare analysis.


Journal ArticleDOI
TL;DR: In this paper, the relationship between income distribution and social welfare is empirically analyzed, while explicitly allowing for the interdependence of individual welfare functions, and it is found that under certain conditions (such as absence of effects of income redistribution on productivity) an equal distribution of incomes is suboptimal.

Journal ArticleDOI
TL;DR: In this article, the authors reinterpreted the traditional income-leisure model as a special case of a utility function weakly separable with respect to leisure and all other commodities.

Journal ArticleDOI
TL;DR: In this article, the optimal linear and two-piece linear taxes are calculated in two-period economies in which individuals face uncertainty about their ability to work in the second period, and the second best insurance/redistribution programs are compared with first-best economies, equilibria without government intervention, and analogous determinate economies having the same ex post production possibilities.


Journal ArticleDOI
TL;DR: In this article, the authors discuss the relationship between the optimum tax literature and econometric specification of point labour supply and commodity demands, and introduce an activity model of the allocation of money and time, which generalises the standard linear expenditure system.

Journal ArticleDOI
TL;DR: In this article, the authors present a simple theoretical model that explains the positive relation between the rate of inflation and the relative price of such real assets, in an economy with an income tax.

Journal ArticleDOI
TL;DR: In this paper, a standard model of optimal linear income taxation was modified to allow individuals to escape taxation by migrating, and it was found that, if individuals with low and high ability levels are prevented from migrating, then the optimal marginal tax and poll subsidy increase.

Journal ArticleDOI
TL;DR: This paper showed that the likelihood of the paradox decreases as individual indifference increases, and increases as individual intransitivity increases, since individual indifference is probably more common than intransitive voting, and this does not decrease the problems associated with the paradox when it occurs.


Journal ArticleDOI
Robin Boadway1
TL;DR: In this paper, the authors investigate the circumstances under which one would expect markets to be efficient at providing club-type goods and show that market can be relied on to provide these goods.

Journal ArticleDOI
TL;DR: In this article, the authors take a step towards integrating the theory of corporate financial structure with that of the employment contract, and investigate possible consequences of legislation which regulates the funding of private pensions.

Journal ArticleDOI
TL;DR: In this paper, the merits of a two-part tariffs in the context of a general equilibrium framework capable of analyzing equilibria in the presence of nonconvexities are examined.