Search results for " tax"
showing 10 items of 794 documents
Corporate hedging under a resource rent tax regime
2010
Accepted version of an article in the journal: Energy Economics. Published version available on Science Direct: http://dx.doi.org/10.1016/j.eneco.2009.10.009 In addition to the ordinary corporate income tax, special purpose taxes are sometimes levied to extract abnormal profits arising from the use of natural resources. Such dual tax regimes exist in Norway for oil and hydropower, where the corresponding special purpose tax bases are unaffected by any derivatives payments. Dual tax firms with hedging programs therefore face the risk of potentially large discrepancies between the tax bases for corporate income tax and special purpose tax. I investigate how this tax base asymmetry influences …
Implementing a Negative Income Tax. Net Cost, Poverty and Inequality Effects
2019
The main aim of this paper is to propose a financially viable alternative to the current Spanish system of social protection: A Negative Income Tax (NIT) unifying in a single mechanism the system of public benefits and income tax. We analyse the main characteristics of the NIT and simulate several NIT proposals for Spain, using the Living Conditions Survey. These proposals are distinct in that they do not suppose an additional cost in the tax-benefit system. The results of our simulations indicate a radical improvement in the indicators of poverty and inequality, especially extreme poverty, and also a redistribution of income from the elderly to families with children.
Asymmetric decentralisation, economic cycle, regional and local government’s borrowing in Spain
2014
This paper investigates the evolution of sub-central government borrowing in Spain over the period 1996–2011. The arguments and figures provided show that the intense process of political and fiscal decentralisation that took place over the 1990s and 2000s did not lead to higher debt ratios in terms of GDP at these tiers of government until 2007. Although a kind of overspending bias was in effect until the late 2000s, the paper shows that the evolution of GDP and tax revenues provided regional and local governments with enough resources to vigorously pursue their devolved public policy responsibilities and still keep their debt ratios under control. However, since 2008, when the world finan…
Difusión y localización industrial en España durante el primer tercio del siglo XX
1999
Editada en la Fundación Empresa Pública El propósito del trabajo es estudiar la difusión de los cambios hacia una estructura industrial manufacturera diversificada en las diferentes regiones españolas durante el primer tercio del siglo XX y la evaluación de los factores que explican el crecimiento de la industria manufacturera de estas regiones. Los factores considerados son las economías de localización (extemalidades inarshallianas) y las economías de urbanización (extemalidades de Jacobs). Como no existe un censo industrial en España, se ha estimado una reconstrucción de los impuestos directos industriales en 1913 y 1929 para 50 provincias y 20 manufacturas. En este período de creación d…
The internationalization of family businesses: A review of extant research
2010
Abstract Among family businesses (FBs) internationalization has become a strategy for growth, and sometimes even for survival. This review article presents an analysis conducted on 25 refereed journal articles on FB internationalization. The articles typically portrayed the internationalization of FBs as a sequential process following the Uppsala model of internationalization; by contrast, some FBs were regarded as “born-again” global firms. In methodological terms, most of the articles focused on what-questions rather than why/how-questions. The articles did not make much use of internationalization or FB-specific theories. Our study takes a step towards clarifying the following issues: (i…
Redistribution, selection, and trade
2017
Abstract This paper examines the distributional effects of international trade in a general equilibrium model with heterogeneous agents and a welfare state redistributing income. The redistribution scheme is financed by a progressive income tax and gives the same absolute transfer to all individuals. Ceteris paribus, international trade leads to an increase in income per capita but also to higher income inequality on two fronts. Inter-group inequality between managers and workers increases, and intra-group inequality within the group of managers goes up as well. We show that for a given tax rate, there is an endogenous increase in the size of the welfare state that works against the increas…
Tax Liability and Tax Evasion in a Competitive Labor Market
2005
In a competitive labor market, a change in the legal incidence of a tax on labor will not alter employment if tax obligations are fulfilled. However, this irrelevance result may no longer apply if taxes can be evaded. In particular, a shift from payroll to income taxes will lower employment. This will be the case if workers exhibit constant absolute risk aversion, have a utility function, which is strongly separable in income and the disutility from working, and the penalty for evasion is not proportional to the amount of taxes evaded. Accordingly, tax evasion opportunities can make the legal incidence of a tax on labor an important determinant of its economic incidence.
Second-best taxation for a polluting monopoly with abatement investment
2018
This paper characterizes the optimal tax rule to regulate a polluting monopoly when the firm has the possibility of investing in an abatement technology and the environmental damages are caused by a stock pollutant. The optimal policy is given by the stagewise feedback Stackelberg equilibrium of a dynamic policy game between a regulator and a monopolist. The regulator playing as the leader chooses an emission tax to maximize net social welfare, and the monopolist acting as the follower selects the output and the investment in abatement technology to maximize profits. We find that the optimal tax has two components. The first component is negative and equal to the gap between the marginal re…
The tax system incidence on unemployment: A country-specific analysis for the OECD economies
2008
Abstract In this paper we evaluate the incidence of the tax structure on the labor market. To do so we go beyond the traditional examination of the “level” effect of the fiscal wedge and consider a “composition” effect defined as a payroll tax bias (PTB): the proportion of payroll taxes paid by employees with respect to the one paid by firms. We develop a right-to-manage model encompassing different wage bargaining systems and the incidence of different types of taxes. Controlling for demand-side and supply-side determinants of unemployment, we show that the PTB plays a significant role in explaining unemployment in the continental European countries, but not in the Nordic nor in the Anglo-…
The Strategic Use of Innovation to Influence Environmental Policy: Taxes versus Standards
2015
Abstract This paper evaluates the strategic behavior of a polluting monopolist to influence environmental policy, either with taxes or with standards, comparing two alternative policy games. The first of the games assumes that the regulator commits to an ex-ante level of the policy instrument. The second one is the time-consistent policy game. We find that the strategic behavior of the firm is welfare improving and leads to more environmental innovation than under regulatory commitment if a tax is used to control pollution. However, the contrary occurs if an emission standard is used. Under commitment, it is shown that both policy instruments are equivalent. We conclude that the optimal env…