Topic
Tax policy
About: Tax policy is a research topic. Over the lifetime, 6048 publications have been published within this topic receiving 108248 citations. The topic is also known as: tribute policy.
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Posted Content•
TL;DR: In this paper, the authors present a review of the development and challenges in this empirical research, and uses advances in models of information and incentive problems to motivate those developments and challenges, and discuss implications of this research program for analysis of investment on monetary policy and tax policy.
Abstract: Over the past decade, a number of researchers have extended conventional models of business fixed investment to incorporate a role for financial constraints' in determining investment. This paper reviews developments and challenges in this empirical research, and uses advances in models of information and incentive problems to motivate those developments and challenges. First, I describe analytical underpinnings of models of capital-market imperfections in the investment process, and illustrate the principal testable implications of those models. Second, I motivate tests and describe and critique existing empirical studies. Third, the review considers applications of the underlying models to a range of investment activities, including inventory investment, R&D, employment demand, pricing by imperfectly competitive firms, business formation and survival, and risk management. Fourth, I discuss implications of this research program for analysis of effects of investment on monetary policy and tax policy. Finally, I examine some potentially fruitful avenues for future research.
2,364 citations
Book•
01 Jan 1972
TL;DR: In this paper, the authors discuss the role of models of politics in thinking about public policy and the policymaking process in the decision-making process of a law being passed and what happens after a law is passed.
Abstract: 1: Policy Analysis: What Governments Do, Why They Do It, and What Difference it Makes 2: Models of Politics: Some Help in Thinking About Public Policy 3: The Policymaking Process: Decision-Making Activities 4: Policy Evaluation: Finding Out What Happens After a Law Is Passed 5: Federalism and State Policies: Institutional Arrangements and Policy Variations 6: Criminal Justice: Rationality and Irrationality in Public Policy 7: Welfare: The Search for Rational Strategies 8: Health Care: Attempting A Rational-Comprehensive Transformation 9: Education: Group Struggles 10: Economic Policy: Challenging Incrementalism 11: Tax Policy: Battling the Special Interests 12: International Trade and Immigration: Elite-Mass Conflict 13: Energy and the Environment: Externalities and Interests 14: Civil Rights: Elite and Mass Interaction 15: Defense Policy: Strategies for Serious Games 16: Homeland Security: Terrorism and Nondeterrable Threats
1,956 citations
TL;DR: This article reviewed developments and challenges in this empirical research, and used advances in models of information and incentive problems to motivate those developments and challenge, and discussed implications of this research program for analysis of effects of investment of monetary policy and tax policy.
Abstract: Over the past decade, a number of researchers have extended conventional models of business fixed investment to incorporate a role for "financial constraints" in determining investment. This paper reviews developments and challenges in this empirical research, and uses advances in models of information and incentive problems to motivate those developments and challenges. First, I describe analytical underpinnings of models of capital-market imperfections in the investment process, and illustrate the principal testable implications of those models. Second, I motivate tests and describe and critique existing empirical studies. Third, the review considers applications of the underlying models to a range of investment activities, including inventory investment, R&D, employment demand, pricing by imperfectly competitive firms, business formation and survival, and risk management. Fourth, I discuss implications of this research program for analysis of effects of investment of monetary policy and tax policy. Finally, I examine some potentially fruitful avenues for future research.
1,813 citations
TL;DR: In this paper, the authors investigate the potential of capital taxation in an intertemporal maximizing model of capital formation and show that under any convergent redistributive tax policy which maximizes a Paretian social objective, the capital income tax will converge to zero.
1,271 citations
Posted Content•
TL;DR: In this paper, the authors proposed a method for computing tax rates using national accounts and revenue statistics. And they used this method to construct time-series of tax rates for large industrial countries.
Abstract: This paper proposes a method for computing tax rates using national accounts and revenue statistics. Using this method we construct time-series of tax rates for large industrial countries. The method identifies the revenue raised by different taxes at the general government level and defines aggregate measures of the corresponding tax bases. This method yields estimates of effective tax rates on factor incomes and consumption consistent with the tax distortions faced by a representative agent in a general equilibrium framework. These tax rates compare favorably with existing estimates of marginal tax rates, and highlight important international differences in tax policy.
1,054 citations