Land and Labor Tax in Imperial Qing China (1644-1912)

2022 ◽  
Author(s):  
Yongqin Guo
Keyword(s):  
Labor Tax

An analysis of US greenhouse gas cap-and-trade proposals using a forward-looking economic model

2011 ◽  
Vol 16 (2) ◽  
pp. 155-176 ◽  
Author(s):  
ANGELO COSTA GURGEL ◽  
SERGEY PALTSEV ◽  
JOHN REILLY ◽  
GILBERT METCALF
Keyword(s):  
Greenhouse Gas ◽  
Ghg Emissions ◽  
Substantial Effect ◽  
Welfare Cost ◽  
Economic Implications ◽  
Early Action ◽  
Labor Tax ◽  
Long Term Effect ◽  
Capital Tax ◽  
Forward Looking

ABSTRACTWe develop a forward-looking version of the recursive dynamic MIT Emissions Prediction and Policy Analysis (EPPA) model, and apply it to examine the economic implications of proposals in the US Congress to limit greenhouse gas (GHG) emissions. We find that shocks in the consumption path are smoothed out in the forward-looking model and that the lifetime welfare cost of GHG policy is lower than in the recursive model, since the forward-looking model can fully optimize over time. The forward-looking model allows us to explore issues for which it is uniquely well suited, including revenue-recycling and early action crediting. We find capital tax recycling to be more welfare-cost reducing than labor tax recycling because of its long-term effect on economic growth. Also, there are substantial incentives for early action credits; however, when spread over the full horizon of the policy they do not have a substantial effect on lifetime welfare costs.

scholarly journals General Equilibrium Effects of Lower Labor Tax Burden in Croatia

2016 ◽  
Vol 19 (s1) ◽  
pp. 1-14 ◽  
Author(s):  
Ozana Nadoveza ◽  
Tomislav Sekur ◽  
Marija Beg
Keyword(s):  
Sensitivity Analysis ◽  
General Equilibrium ◽  
Computable General Equilibrium ◽  
Tax Burden ◽  
Cge Model ◽  
Policy Changes ◽  
Domestic Production ◽  
Labor Tax ◽  
Endogenous Variables ◽  
Cge Modeling

AbstractThis paper examines the effects of lower labor tax burden in Croatia by using Computable general equilibrium (CGE) model. It is a 5-sector (households, firms, government, investors and foreigners) model and economy is disaggregated on three highly aggregated sectors. One of the major advantages of CGE modeling is the evaluation of the overall effects of policy changes, shocks and reforms in the economy. We do this by lowering taxes on labor and simulating changes of all endogenous variables in the model simultaneously. Lastly, we provide sensitivity analysis results. Our results suggest that it is possible to encourage domestic production by reducing taxes on labor, but the potential effects on unemployment should be revised as to get more accurate estimates.

scholarly journals LABOR TAX REDUCTIONS IN EUROPE: THE ROLE OF PROPERTY TAXATION

2020 ◽  
pp. 1-33
Author(s):  
Marcin Bielecki ◽  
Nikolai Stähler
Keyword(s):  
Housing Market ◽  
New Keynesian ◽  
Property Taxes ◽  
Real Economy ◽  
Property Taxation ◽  
Tax Reduction ◽  
Labor Tax ◽  
Stocks And Flows ◽  
Transaction Taxes

We use a New Keynesian DSGE model with search frictions on the housing market to evaluate how financing a labor tax reduction by higher property taxation affects the real economy and welfare. Search on the housing market enables us to explicitly model stocks and flows, which is necessary to differentiate between recurrent property taxes (levied on stocks) and property transaction taxes (levied to flows). We find that using recurrent property taxation as financing instrument outperforms other instruments although all policy measures increase aggregate economy-wide welfare. Our simulations suggest that using property transaction taxation as financing instrument is the least favorable measure.

scholarly journals An evaluation of the revenue side as a source of fiscal consolidation in high debt economies

2014 ◽  
Vol 41 (6) ◽  
pp. 771-788
Author(s):  
Ritwik Banerjee
Keyword(s):  
General Equilibrium ◽  
Tax Rates ◽  
Consumption Tax ◽  
Policy Makers ◽  
Revenue Generation ◽  
Content Type ◽  
Tax Rate ◽  
Labor Tax ◽  
Capital Tax ◽  
European Economies

Purpose – Unsustainable levels of debt in some European economies are causing enormous strain in the Euro area. Successful debt consolidation in high-debt economies is the single most important objective for the European policy makers. The paper aims to discuss these issues. Design/methodology/approach – The author uses a dynamic general equilibrium closed economy model to compute the dynamic Laffer curves for Portugal, Ireland, Greece and Spain for different class of taxes. The general equilibrium effects of the interaction of labor tax, consumption tax and capital tax is demonstrated. Findings – Location of each economy on its Laffer curve suggests that there exists a scope for considerable revenue generation by raising consumption and labor tax rates but no such possibilities exist for capital tax rate. Thus revenue generation with certain tax rates as instruments, holds key to successful and sustained debt reduction. Originality/value – This to the best of knowledge is one of the first papers which looks closely at the tax revenue – tax rate panel for the major deeply indebted European economies.

scholarly journals GENERAL EQUILIBRIUM FEEDBACK REGARDING THE EMPLOYMENT EFFECTS OF LABOR TAXES

2019 ◽  
Vol 24 (8) ◽  
pp. 2012-2032
Author(s):  
Minchul Yum
Keyword(s):  
Interest Rate ◽  
General Equilibrium ◽  
Labor Supply ◽  
Real Interest Rate ◽  
Heterogeneous Agent ◽  
Agent Model ◽  
Heterogeneous Agent Model ◽  
Labor Tax ◽  
Labor Taxes ◽  
Tax Changes

A higher labor tax rate increases the equilibrium real interest rate and reduces the equilibrium wage in a heterogeneous-agent model with endogenous savings and indivisible labor supply decisions. I show that these general equilibrium (GE) adjustments, in particular of the real interest rate, reinforce the negative employment impact of higher labor taxes. However, the representative-agent version of the model, which generates similar aggregate employment responses to labor tax changes, implies that GE feedback is neutral. The cross-country panel data reveal that the negative association between labor tax rates and the extensive margin labor supply is significantly and robustly weaker in small open economies where the interest rate is less tightly linked to domestic circumstances. This empirical evidence supports the transmission mechanism of labor tax changes for employment in the heterogeneous-agent model.

scholarly journals OPTIMAL DYNAMIC LABOR TAXATION

2007 ◽  
Vol 11 (5) ◽  
pp. 567-588 ◽  
Author(s):  
PARANTAP BASU ◽  
THOMAS I. RENSTRÖM
Keyword(s):  
Policy Instrument ◽  
Income Uncertainty ◽  
Optimal Paths ◽  
Labor Tax ◽  
Special Cases ◽  
Labor Taxation ◽  
Wage Tax ◽  
Optimal Dynamic ◽  
Optimal Dynamic Taxation ◽  
The Government

We analyze optimal dynamic taxation when labor supply is indivisible. As in Hansen (1985) and Rogerson (1988), markets are complete, and an employment lottery determines who works. The consumer can buy insurance to diversify this income uncertainty. The optimal wage tax is generally positive except for some special cases when leisure is nonnormal and the government can use debt as a policy instrument in addition to its tax instruments. We derive a HARA class of preferences, for which we characterize the dynamic paths of the wage tax. The optimal paths of the labor tax differ between divisible- and indivisible-labor economies.

HOW COSTLY ARE BORROWING COSTS? AN ANALYSIS OF ALTERNATIVE FISCAL POLICIES DURING CRISES

2015 ◽  
Vol 21 (5) ◽  
pp. 1141-1157
Author(s):  
Inci Gumus
Keyword(s):  
Borrowing Constraints ◽  
Labor Income ◽  
Fiscal Policies ◽  
Capital Income ◽  
Tax Rate ◽  
Percentage Points ◽  
Tax Reduction ◽  
Labor Tax ◽  
The Government ◽  
Spending Cuts

Financial crises lead to substantial declines in output and consumption in emerging markets. The fact that fiscal policy is procyclical in these countries shows that the effects of a crisis are exacerbated by spending cuts and tax increases, which are usually attributed to borrowing constraints they face in bad times. This paper quantitatively analyzes the costs of reduced borrowing during crises by studying the effects of expansionary fiscal policies that would have been possible to implement, had the government been able to borrow more. The model shows that a 25% reduction of taxes on labor income, capital income, and consumption during the 1997 Korean crisis would have required an additional borrowing of 4.10% of GDP, while increasing output and consumption by 5.23 and 5.92 percentage points, respectively. When the effects of each tax rate are analyzed separately, labor tax reduction turns out to be more effective than the other policies.

Labor Tax Cuts and Employment: A General Equilibrium Approach for France

2014 ◽  
Vol 14 (114) ◽  
pp. 1 ◽  
Author(s):  
Raphael Espinoza ◽  
Esther Pérez Ruiz ◽  
◽  
Keyword(s):  
General Equilibrium ◽  
Labor Tax ◽  
Equilibrium Approach ◽  
Tax Cuts
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