Taxation, Monetary Policy, and the Equity-efficiency Tradeoff - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Taxation, Monetary Policy, and the Equity-efficiency Tradeoff write by Ronald Morris Harstad. This book was released on 1979. Taxation, Monetary Policy, and the Equity-efficiency Tradeoff available in PDF, EPUB and Kindle.
For the Benefit of All: Fiscal Policies and Equity-Efficiency Trade-offs in the Age of Automation
For the Benefit of All: Fiscal Policies and Equity-Efficiency Trade-offs in the Age of Automation - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook For the Benefit of All: Fiscal Policies and Equity-Efficiency Trade-offs in the Age of Automation write by Mr. Andrew Berg. This book was released on 2021-07-16. For the Benefit of All: Fiscal Policies and Equity-Efficiency Trade-offs in the Age of Automation available in PDF, EPUB and Kindle. Many studies predict massive job losses and real wage decline as a result of the ongoing widespread automation of production, a trend that may be further aggravated by the COVID-19 crisis. Yet automation is also expected to raise productivity and output. How can we share the gains from automation more widely, for the benefit of all? And what are the attendant equity-efficiency trade-offs? We analyze this issue by considering the effects of fiscal policies that seek to redistribute the gains from automation and address income inequality. We use a dynamic general equilibrium model with monopolistic competition, including a novel specification linking corporate power to automation. While fiscal policy cannot eliminate the classic equity-efficiency trade-offs, it can help improve them, reducing inequality at small or no loss of output. This is particularly so when policy takes advantage of novel, less distortive transmission channels of fiscal policy created by the empirically observed link between corporate market power and automation.
Design and Reform of Taxation Policy
Design and Reform of Taxation Policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Design and Reform of Taxation Policy write by P. Galeotti. This book was released on 2013-03-09. Design and Reform of Taxation Policy available in PDF, EPUB and Kindle. G. Galeotti* and M. Marrelli** *Universita di Perugia **Universita di Napoli 1. The economic analysis of optimal taxation has permitted considerable steps to be taken towards the understanding of a number of problems: the appropriate degree of progression, the balance between different taxes, the equity-efficiency trade-off etc .. Though at times considered as abstract and of little use in policy design, the issues it addresses are real ones and very much on the agenda of many countries. As usual in scientific debate, criticisms have contributed to the correct understanding of the theoretical problems involved and made clear that, at the present state of the art, definitive conclusions may be premature. A first well-taken criticism addresses the assumption, underlying optimal taxation models, of a competitive economy with perfect information on the part of individual agents and full market clearing. Once we leave the Arrow-Debreu world, it is no longer necessarily the case that taxes and transfers introduce distortions on otherwise efficient allocations.
Equality and Efficiency REV
Equality and Efficiency REV - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Equality and Efficiency REV write by Arthur M. Okun. This book was released on 2015-04-30. Equality and Efficiency REV available in PDF, EPUB and Kindle. Originally published in 1975, Equality and Efficiency: The Big Tradeoff is a very personal work from one of the most important macroeconomists of the last hundred years. And this new edition includes "Further Thoughts on Equality and Efficiency," a paper published by the author two years later. In classrooms Arthur M. Okun may be best remembered for Okun's Law, but his lasting legacy is the respect and admiration he earned from economists, practitioners, and policymakers. Equality and Efficiency is the perfect embodiment of that legacy, valued both by professional economists and those readers with a keen interest in social policy. To his fellow economists, Okun presents messages, in the form of additional comments and select citations, in his footnotes. To all readers, Okun presents an engaging dual theme: the market needs a place, and the market needs to be kept in its place. As Okun puts it: Institutions in a capitalist democracy prod us to get ahead of our neighbors economically after telling us to stay in line socially. This double standard professes and pursues an egalitarian political and social system while simultaneously generating gaping disparities in economic well-being. Today, Okun's dual theme feels incredibly prescient as we grapple with the hot-button topic of income inequality. In his foreword, Lawrence H. Summers declares: On what one might think of as questions of "economic philosophy," I doubt that Okun has been improved on in the subsequent interval. His discussion of how societies rely on rights as well as markets should be required reading for all young economists who are enamored with market solutions to all problems. With a new foreword by Lawrence H. Summers
Winner-Take-All Markets
Winner-Take-All Markets - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Winner-Take-All Markets write by McMahon, Jr. (Martin J.). This book was released on 2018. Winner-Take-All Markets available in PDF, EPUB and Kindle. In this article Professors McMahon and Abreu examine data on changes in the distribution of income and show that those changes increasingly reflect a winner-take-all pattern in which economic rewards are increasingly skewed toward those at the top 1% of the income distribution. These changes in the distribution of income invite a re-examination of the arguments for progressive taxation, not because they strengthen the case for redistribution, but because they reflect a market in which progressive taxation is more efficient than proportional taxation. By analyzing the data on the distribution of income and constructing a model that reflects that distribution and makes conservative assumptions about the diminishing marginal utility of money, the article shows that the classic equity/efficiency trade-off is the product of an incrementalist distribution of income. The more the distribution of income reflects a winner take-all society, the more efficient progressive taxation becomes. Thus, we no longer have to choose between equity and efficiency because in a society with a winner take-all distribution of income, progressive taxation can give us both. This project addresses the design of the rate structure only, taking as its starting point a base like the one employed by the current income tax system. Work currently in progress will consider the implications of the shifts in the distribution of income for the definition of the tax base and, specifically, for the taxation of income from capital.
