Search results for "Income"

Willingness to pay for a cure of low-risk melanoma patients in Germany

2018

Malignant melanoma is potentially life-threatening but in most cases curable if detected early. Willingness to pay (WTP) is a preference-based construct that reflects burden of disease by assessment of the monetary value for a hypothetical cure from disease. Since WTP (directly as total amount of money) has not been assessed so far in patients with low risk melanoma, it was interesting to gain insights in this patient population and then, in a second step, compare it directly with the WTP of their treating dermato-oncologists. WTP was assessed in 125 patients with low-risk melanoma and additionally in 105 treating physicians, asking for the one-time and continuous payments they would be wil…

Social determinants of therapy failure and multi drug resistance among people with tuberculosis: A review

2017

Background Social determinants influence health and the development of tuberculosis (TB). However, a paucity of data is available considering the relationship of social determinants influencing therapy failure and multi drug resistance (MDR). We conducted a review investigating the relationship of common social determinants on therapy failure and MDR in people with TB. Methods PubMed and SCOPUS were searched without language restrictions until February 02, 2016 for studies reporting the association between socioeconomic factors (income, education and alcohol abuse) and therapy failure or MDR-TB. The association between social determinants and outcomes was explored by pooling data with a ran…

Evasion of Tax on Interest Income in a Two-Country Model

2001

t We consider a model where agents can invest money at home and abroad. Their total income comprises interest income from these investments and labor income. Tax on interest income can be evaded — at the risk of being detected and fined. We analyze the optimal portfolio and tax evading decisions of agents with different incomes. In a second step, we scrutinize the optimal government policy. Using different instruments government tries to maximize total tax receipts and to prevent flight of capital as far as possible.

Penalties in the Theory of Equilibrium Tax Evasion: Solving King John’s Problem

2010

The authors characterize equilibria of an income reporting game with bounded returns and no commitment where detected tax evaders are charged the maximally feasible amount. Introducing partial commitment to punishment relief eliminates multiplicity of equilibria. The authors identify a unique limit equilibrium where the poorest citizens evade, intermediate citizens are honest, and the richest citizens are indifferent between evading and truth telling. For small tax rates and auditing cost, committing to a discretionary punishment relief scheme increases expected tax revenue.

A complete system of Engel curves in the Spanish economy

2003

The main goal of this article is the estimation of the consumption–income relationship along with socio–economic factors using cross section data from the Spanish Household Expenditure Survey 1991. The data has been grouped according to exogenous criteria to avoid the problem of null expenditure. First, a non–linear system of equation is estimated, from which the linear form that best fits the used data is tested. Finally, income elasticities are calculated considering three alternative formulations depending on how an initial income increment is distributed among consumers. Income elasticities are shown for the whole income distribution

Is ex‐ante ex‐post analysis irrelevant to Keynes's theory of employment?

2004

Ex‐ante ex‐post analysis has become a standard tool in macroeconomics. Yet Keynes dismissed it. We argue that Keynes's dismissal of ex‐ante ex‐post analysis is not an oddity but an indication of the originality of his theory of employment compared to standard macroeconomics. First, the principle of effective demand does not amount to a process that determines employment and income at the point of intersection of the traditionally defined ex ante supply and demand functions. Second, the finance motive allowed Keynes to confirm the identity of aggregate supply and demand already asserted in The General Theory. This latter conclusion is puzzling, however, since the principle of effective deman…

Portfolio Models for Fixed Income

2010

Dynamic Portfolio Optimization with Stochastic Programming

2010

Incentive Properties of Residual Income when There is an Option to Wait

2005

Performance measures based on residual income are increasingly popular. The academic literature shows that residual income has important incentive properties when management bases investment decisions on the net present value (NPV) rule. My analysis focuses on the case in which investment decisions can be postponed, when management must extend the simple NPV rule by considering an option value. My analysis shows that some important incentive properties of residual income still hold when there is an option to wait, but only when the residual income measure is correctly adjusted. I also provide an incentive-based explanation of why the capital charge rate within firms is often significantly h…

Income Equality and Income Taxation

1994

In every society the distribution of income plays an essential role — not only for economists but also for social scientists and politicians. Most people agree that the laissez-faire allo-cation is not equitable but that some redistribution using taxes has to take place. Most of the literature has supposed that a Bergson- Samuelson social welfare function is the appropriate tool for capturing social values in such analyses. However, there are some objections against this approach. First, interpersonal comparability of the individual utilities is needed — an extremely strong and questionable claim. Second, most writers have worked with a concave transformation of individual cardinal utilitie…