Political Economy: Fiscal Policies & Behavior of Economic Agents eJournal最新文献

{"title":"The Long-Term Impact of Early-Life Cigarette Taxes on Adult Pre-Pregnancy and Prenatal Smoking","authors":"Lauren Hoehn‐Velasco, M. Pesko, Serena Phillips","doi":"10.2139/ssrn.3900151","DOIUrl":"https://doi.org/10.2139/ssrn.3900151","url":null,"abstract":"This study examines the long-term link between early-life cigarette taxes and adult smoking behavior. Using U.S. birth certificate records over 2009-2019, we explore the intergenerational behavioral effects of higher in-utero cigarette taxes. We find that the mother's exposure to higher in-utero cigarette taxes (over 1965-2000) reduces contemporary adult smoking behavior, both pre-pregnancy and prenatally. Exposure to higher in-utero cigarette taxes also impacts adult human capital, adult health and has multi-generational consequences for infant health. Furthermore, the long-term effect is present even when controlling for various contemporary tobacco control policies and confounding early-life policies. Our findings suggest that early-life exposure to state-level policies discouraging smoking can shape health behaviors over the long run.","PeriodicalId":282044,"journal":{"name":"Political Economy: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122218570","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Impact of Chinese Trade and Investment in Africa on the African Tax Base – More Costs Than Benefits?","authors":"Afton Titus","doi":"10.2139/ssrn.3788846","DOIUrl":"https://doi.org/10.2139/ssrn.3788846","url":null,"abstract":"This paper examines the investments made by China in key African countries and analyses the effects of such investment on the tax base of such African countries. The aim of this analysis is to determine whether the costs of such investment are commensurate to the benefits derived, or to be derived, from the investment. This paper will further consider whether the relevant African countries have implemented measures by which to protect their tax bases and also how effective these measures are. The risks identified in this study will be evaluated against the actual or potential benefits arising from China’s investment in Africa. This paper concludes by recommending how African countries may better protect their tax bases and in so doing, benefit fully and responsibly from China’s interest in Africa.","PeriodicalId":282044,"journal":{"name":"Political Economy: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126637897","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Tax Incentives and Housing Decisions: Effects of the Tax Cut and Jobs Act","authors":"E. Hembre, Raissa Dantas","doi":"10.2139/ssrn.3779520","DOIUrl":"https://doi.org/10.2139/ssrn.3779520","url":null,"abstract":"The Tax Cut and Jobs Act (TCJA) altered the tax code, greatly reducing \u0000itemization rates. Utilizing American Community Survey data combined \u0000with the NBER TAXSIM program, we calculate the TCJA caused the \u0000average homeownership subsidy to decline by 56% from $2,677 in 2017 to \u0000$1,171 in 2018. Comparing similar households that vary in subsidy shock \u0000exposure due to state tax rates and house price levels, we nd that each \u0000percentage point decrease in the TCJA homeownership subsidy lowers \u0000homeownership rates by 0.54 percentage points and mortgage utilization by \u00000.76 percentage points. Using Freddie Mac mortgage origination data, we \u0000additionally nd that lenders absorbed 5% to 7% of the subsidy incidence \u0000through decreasing mortgage interest rates.","PeriodicalId":282044,"journal":{"name":"Political Economy: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"300 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122776539","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Full Taxation: The Single Tax Emperor's New Clothes","authors":"L. Parada","doi":"10.2139/ssrn.3636073","DOIUrl":"https://doi.org/10.2139/ssrn.3636073","url":null,"abstract":"It has recently been argued in the international tax literature that the OECD Base Erosion and Profit Shifting project (BEPS) reflects and effectuates full taxation, namely an international norm that would suggest that all of a company’s income should be taxed in places where it has real business activities, representing a modern approach to the single-taxation paradigm. This article builds upon the concept of full taxation and argues that although rhetorically attractive, the concept is still conceptually inconsistent, particularly because it is incapable of providing any hints as regards where and who should finally be taxed. Moreover, it adopts an overinclusive and instrumental approach, the purpose of which appears to be only to legitimatise the use of coordinated provisions whose rationale attend exclusively to avoid the complete absence of taxation in cross-border transactions. This approach, innocuous at first sight, suggests however the unprincipled purpose of taxation just for the sake of taxation, putting at risk countries wishing to attract real economic activities and stigmatising the outcome of double non-taxation in a permanent way.","PeriodicalId":282044,"journal":{"name":"Political Economy: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116314760","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Profit Shifting, Employee Pay, and Inequalities: Evidence From US-Listed Companies","authors":"Baptiste Souillard","doi":"10.2139/ssrn.3750623","DOIUrl":"https://doi.org/10.2139/ssrn.3750623","url":null,"abstract":"Corporate tax avoidance has become a salient policy issue and has regularly been accused of aggravating income inequalities. However, systematic evidence on this topic remains lacking. I empirically explore in this paper the effect of profit shifting activities of multinational enterprises on employee pay. Using a rich database on executives, foreign subsidiaries, and financial statements of US-listed companies, I find that this effect substantially varies across occupations. On the one hand, chief executive officers and chief financial officers receive higher compensations when their firm enters tax havens. On the other hand, non-executive employees, if anything, see their wages fall. Furthermore, the inequality-deepening effect of profit shifting is driven by companies that reward executives on an after-tax basis and more pronounced in companies that are intensive in intangible assets. These new empirical findings cast light on the distributional consequences of profit shifting, the evolution of income inequalities, public opinion about globalization, and ongoing debates on corporate tax reforms.","PeriodicalId":282044,"journal":{"name":"Political Economy: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128309738","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Where to Go: The Japanese Government's Travel Subsidy during COVID-19","authors":"Yoshito Funashima, Kazuki Hiraga","doi":"10.2139/ssrn.3746114","DOIUrl":"https://doi.org/10.2139/ssrn.3746114","url":null,"abstract":"Faced with the trade-off between prevention of the spread of the coronavirus disease 2019 (COVID-19) and recovery in economic activities, in July 2020, the Japanese government launched the \"Go To Travel\" campaign (a subsidy for domestic travel) to revitalize the moribund tourism industry. This study examines (1) whether the government subsidy drives individuals to travel, even at the risk of acquiring an infection, and (2) whether the government subsidy results in the spread of the infection. We utilize a difference-in-differences method by taking advantage of the fact that the government subsidy excludes travel to and from Tokyo in the period spanning July 2020 through September 2020. We provide empirical evidence in favor of the successful effects of the government subsidy, suggesting that the government subsidy increases the number of hotel guests without spreading the infection. More hotel guests travel to other prefectures for sightseeing and travel within their own prefectures for reasons other than sightseeing.","PeriodicalId":282044,"journal":{"name":"Political Economy: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132622100","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Evaluating the Impact of Economic Impact Payments","authors":"M. Boutros","doi":"10.2139/ssrn.3742448","DOIUrl":"https://doi.org/10.2139/ssrn.3742448","url":null,"abstract":"As part of the CARES Act, the IRS distributed $300 billion in Economic Impact Payments (EIPs) directly to US households. In the Census Bureau’s Household Pulse Survey, almost 75% of households receiving an EIP reported using it to mostly pay for expenses. Separating respondents based on labor income interruptions, 84% of unemployed households reported mostly spending their EIPs, compared to 63% of employed households, suggesting that the benefits of more targeted direct transfers may have been limited, especially at the expense of timeliness. Overall, I conclude that Economic Impact Payments played an important role in stabilizing aggregate spending.","PeriodicalId":282044,"journal":{"name":"Political Economy: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"209 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131900575","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"International Trade and Tax-Motivated Transfer Pricing","authors":"Ansgar Quint, Jonas F. Rudsinske","doi":"10.2139/ssrn.3715428","DOIUrl":"https://doi.org/10.2139/ssrn.3715428","url":null,"abstract":"We study the welfare and distribution effects of corporate taxation and transfer pricing in an asymmetric general oligopolistic equilibrium trade model. Without profit shifting, an increasing profit tax rate shifts welfare towards the taxing country, where it also decreases real wages, whereas real wages rise in the other country. Labor income increases relative to profit income in both countries. Transfer pricing generates an additional benefit from exporting, such that companies want to expand production. Caused by this supply channel, real wages will rise in both countries. Due to shifting tax incomes, a cross-country demand channel relocates consumption from the high- to the low-tax country. In the low-tax country, real profits decrease such that the labor share of income rises.","PeriodicalId":282044,"journal":{"name":"Political Economy: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"202 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134310891","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"2019 – az adókikerülés elleni közös európai fellépés éve (2019 - The year of Joint EU Action Against Tax Avoidance)","authors":"Gabriella Erdős","doi":"10.2139/ssrn.3676942","DOIUrl":"https://doi.org/10.2139/ssrn.3676942","url":null,"abstract":"Hungarian abstract: A cikk az adokikerules es agressziv adotervezes elleni altalanos magyar ado es polgari jogi elveinek a szisztematikus attekinteset adja. Az orszagban az adokikerules elleni kuzdelem altalanos es specialis szabalyainak tortenete hosszu időre nyulik vissza, kezdve a nem-rendeltetesszerű joggyakorlassal, a tartalom a forma előtt elven keresztul egeszen az ellenőrzott kulfoldi tarsasag es az alultőkesitesi szabalyokig. Ezeket a koncenpciokat azonban az OECD BEPS projekt es az EU Adokikerules Elleni Iranyelv (ATAD) fenyeben ujra kellett gondolni. A cikk ket alapvető kerdeskorre koncentral: a magyar polgari jogi elvek es adojogi megfelelőik kapcsolatara, azonossagaikra es kulonbozősegeikre, valamint Magyarorszag valasztasaira az ATAD adta lehetősegeken belul. A cikk vegkovetkeztetes az, hogy Magyarorszagnak nagyon erős altalanos adokikerules ellenes szabalyai vannak, azonban az ATAD atvetele soran a specifikus adokikerules ellenes szabalyokat annak legenyhebb formajaban vezette be annak erdekeben, hogy megtalalja a megfelelő egyensulyt az Eu joggal valo osszhang es a tőkebefektetesek osztonzese kozott. \u0000 \u0000English abstract: The article gives a systematic survey of the general tax and civil law principles against tax avoidance and aggressive tax planning in Hungary. Hungary has a long tradition of both GAAR and SAAR starting with general abuse of law clauses through substance over form rules to CFC and thin capitalization. These concepts, however, had to be rethought, modified and extended in the light of the OECD BEPS project and the EU Anti-Tax Avoidance Directive. The article focuses on two major issues: the relationship between the relevant civil law and the tax anti-avoidance rules, and the choices Hungary made when implementing the EU ATAD. The article concludes that Hungary has strong general anti-avoidance principles, but implemented the specific anti-tax avoidance measures of ATAD in their lightest form in order create a balance between EU compliance and FDI attraction capability.","PeriodicalId":282044,"journal":{"name":"Political Economy: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130295642","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"US–China Rivalry: The Macro Policy Choices","authors":"R. Tyers, Yixiao Zhou","doi":"10.1111/twec.12992","DOIUrl":"https://doi.org/10.1111/twec.12992","url":null,"abstract":"Stylized representations of recent US and Chinese tax reforms, tariffs against imports and alternative Chinese monetary targeting are examined using a calibrated global macro model that embodies both trade and financial interdependencies. For both countries, unilateral capital tax relief and bilateral tariffs are shown to be “beggar thy neighbor” in consequence with tariffs most advantageous for the US if revenue finances consumption tax relief. China is nonetheless a net loser when these policies are implemented unilaterally by the US, irrespective of its policy response, though a currency float is shown to cushion the effects on its GDP in the short run. Equilibria in normal form non-cooperative tariff games exhibit spill-overs that are substantial but insufficient to deter dominant strategies. The US imposes tariffs while China liberalizes, sustaining fiscal balance via consumption tax relief in the US and expenditure restraint in China.","PeriodicalId":282044,"journal":{"name":"Political Economy: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132239906","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}