Public Economics: Fiscal Policies & Behavior of Economic Agents eJournal最新文献

{"title":"Neighborhood Demographics and the Allocation of Paycheck Protection Program Funds","authors":"P. Calem, Adam J Freedman","doi":"10.2139/ssrn.3776794","DOIUrl":"https://doi.org/10.2139/ssrn.3776794","url":null,"abstract":"Neighborhoods with a high percentage of racial and ethnic minorities received significantly more Paycheck Protection Program dollars per small business than other areas, BPI’s analysis demonstrates. In particular, the nation’s largest banks — those with more than $50 billion in assets — robustly channeled PPP credit into communities with a high percentage minority population. The pandemic relief program also directed a relatively large share of funds to neighborhoods encompassing Opportunity Zones as designated by the Treasury Department. The research shows a neighborhood made up entirely of Opportunity Zones that is in the top fifth of percent minority population would receive about 50 percent more PPP dollars per small business establishment than an area without those zones and with the bottom fifth percent minority population, according to BPI’s estimates.<br><br>The analysis utilizes detailed loan-level data released by the SBA, merged at the ZIP code level with data from the U.S. Census Bureau and the Treasury Department, to examine the distribution of PPP funds in relation to the percent minority population of neighborhoods and presence of an Opportunity Zone. This is the first national study of which we are aware that analyzes the distribution of PPP funds across neighborhoods within counties. <br>","PeriodicalId":403078,"journal":{"name":"Public Economics: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128062812","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":"Capital Mobility & Taxation in Non-OECDCountries – Evidence from China","authors":"Ling Chen, Florian M. Hollenbach","doi":"10.2139/ssrn.3735009","DOIUrl":"https://doi.org/10.2139/ssrn.3735009","url":null,"abstract":"Do more mobile firms pay lower taxes? Much research contends that capital mobility creates downward pressure on corporate taxes, as firms can threaten to exit. A substantial share of the existing work, however, is based on country average statutory tax rates in OECD countries. We instead explore this relationship at the firm level in China. Using two comprehensive panel data sets with more than 780,000 Chinese firms over two decades, we find that firms with higher shares of mobile capital, in fact, pay higher effective tax rates. We then explore potential explanations for this counter-intuitive finding using both quantitative and qualitative evidence. We argue that in an environment lacking fiscal transparency and rule of law, collusion between local governments and businesses can partially explain the positive relationship between capital mobility and tax rates. Firms with more fixed assets have stronger incentives to invest in connections with local officials in exchange for lower tax rates compared to their mobile counterparts. We provide evidence that the positive relationship between capital mobility and tax rates is more pronounced in contexts with cozier government-business relations and less transparency.","PeriodicalId":403078,"journal":{"name":"Public Economics: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114208035","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":"Disentangling Retirement and Savings Responses","authors":"M. Lindeboom, R. Montizaan","doi":"10.2139/ssrn.3701904","DOIUrl":"https://doi.org/10.2139/ssrn.3701904","url":null,"abstract":"In January 2006, the Dutch government implemented a pension reform that substantially reduced the public pension wealth of workers born in 1950 or later. At the same time, a tax-facilitated savings plan was introduced that implied a large savings subsidy for all workers, irrespective of birth year. This paper uses linked administrative and survey data to assess the effect of the reform on the savings and retirement expectations and realizations of two virtually identical male cohorts that differ only in treatment status, the treated having been born in 1950 and the controls having been born in 1949. We show that retirement expectations are in line with realizations and that the reform increased the labor supply for the larger part of the workers, namely, those without sufficient means to substantially increase private savings to counter the effect of the reform. These workers have zero substitution rates between private and public wealth. On the other hand, there is a group of mostly high-wage workers who participate in the tax-facilitated savings plan and increase their private savings to fully counter the impact of the drop in public wealth. An unintended side effect of the introduction of the tax-facilitated savings plan is that high-wage earners who are not affected by the drop in pension wealth retire even sooner than initially planned.","PeriodicalId":403078,"journal":{"name":"Public Economics: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123805446","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":"Identifying Behavioral Responses to Tax Reforms: New Insights and a New Approach","authors":"K. Jakobsen, J. Søgaard","doi":"10.2139/ssrn.3696473","DOIUrl":"https://doi.org/10.2139/ssrn.3696473","url":null,"abstract":"We revisit the identification of behavioral responses to tax reforms and develop a new approach that allows for graphical validation of identifying assumptions and representation of treatment effects. Considering typical tax reforms, such as a reduction in the top income tax, we show that the state-of-the-art estimation strategy relies on an assumption that trend differences in income across the income distribution remain constant in the absence of reforms. Similar to the pre-trend validation of differences in-differences studies, this identifying assumption of constant trend differentials can be validated by comparing the evolution of income in untreated parts of the income distribution over time. We illustrate the importance of our new validation approach by studying a number of tax reforms in Denmark, and we show how violations of the identifying assumption may drive the estimates obtained from the state-of-the-art strategy.","PeriodicalId":403078,"journal":{"name":"Public Economics: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129577290","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":"Behavioral Responses to Inheritance and Gift Taxation: Bunching Evidence from Germany","authors":"Ulrich Glogowsky","doi":"10.2139/ssrn.3111993","DOIUrl":"https://doi.org/10.2139/ssrn.3111993","url":null,"abstract":"The desirability of inheritance and gift taxes depends on individuals' tax responsiveness. This paper demonstrates how strongly, and in what way, the German inheritance and gift tax influences taxpayer behavior. To that end, it combines administrative data with cross-bracket tax variation: a convex kink in the tax liability precedes a concave kink. Extending the bunching approach to such double-kinked tax schedules, I document that individuals tailor their taxable wealth transfers to the schedules. One type of response dominates for inheritances: testators engage in testament planning. The magnitude of the testament-planning response is comparable to that of inter vivos gifts. However, neither the overall responses of gifts nor those of inheritances heavily interfere with tax revenue collection: the associated short-run net-of-tax elasticities of taxable wealth transfers lie below 0.1.","PeriodicalId":403078,"journal":{"name":"Public Economics: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132889548","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":"Heterogeneity in the Fiscal Reaction Function: An Emperical Analysis for EU Member States","authors":"B. Bökemeier, A. Stoian, B. Dumitrescu, Cosmin-Octavian Cepoi","doi":"10.2139/ssrn.3737499","DOIUrl":"https://doi.org/10.2139/ssrn.3737499","url":null,"abstract":"This paper studies heterogeneity in the fiscal reaction function for European Union members by resorting to the unconditional quantile regression estimation. Based on annual observations spanning from 2005 to 2018, the results point to significant asymmetries concerning the fiscal response measured in terms of the cyclically adjusted primary balance to different covariates. First, the primary deficit has a stronger reaction to debt across the lower quantile, which becomes weaker as the balance reaches a surpulus. This indicates the prevalence of fiscal discipline to ensure the public finance sustainability. Moreover, the life-expetancy negatively affects the fiscal polistion and the response is the highest compared to other covariates, which can diminish the debt and business stabilizing response. Governments seem to run more pronounced pro-cyclical fiscal policy when the fiscal position is already deteriorated. These empirical evidences are questioning current as well as future policy design particularly against the background of the recent pandemic situation exerting supplementary social and financial burden on the countries. In addition, the level of economic development matters for the response pattern and the reaction is stronger and positive when countries face poorer fiscal positions. Also, an increase in the longterm interest rate amplifies the deterioration of fiscal balance especially when its condition is already bad. Finally, our estimations show that the fiscal position improves as an effect of educational attainmet and of external position especially when the former reaches surplus.","PeriodicalId":403078,"journal":{"name":"Public Economics: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"111 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124257278","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":"Supplemental Appendix to 'Better Bunching, Nicer Notching'","authors":"Marinho Bertanha, A. McCallum, N. Seegert","doi":"10.2139/ssrn.3447499","DOIUrl":"https://doi.org/10.2139/ssrn.3447499","url":null,"abstract":"We study the bunching identification strategy for an elasticity parameter that summarizes agents' response to changes in slope (kink) or intercept (notch) of a schedule of incentives. A notch identifies the elasticity but a kink does not, when the distribution of agents is fully flexible. We propose new non-parametric and semi-parametric identification assumptions on the distribution of agents that are weaker than assumptions currently made in the literature. We revisit the original empirical application of the bunching estimator and find that our weaker identification assumptions result in meaningfully different estimates. We provide the Stata package bunching to implement our procedures.","PeriodicalId":403078,"journal":{"name":"Public Economics: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"174 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115581391","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":"Economic Symbiosis","authors":"David Brown","doi":"10.2139/ssrn.3561330","DOIUrl":"https://doi.org/10.2139/ssrn.3561330","url":null,"abstract":"We all think we know what “Value for Money” means, but do we really see the big picture?<br><br>A new way of looking at the relationship between value and money, and all that implies to an economy as a whole, is presented, from which it logically follows what kind of major surgery of government and finance is going to be needed (with reasons) to create a workable mutualistic economic symbiosis system that serves everybody's needs.<br><br>Full paper, containing only one mathematical equation, and not assuming any prior technical knowledge, so readable by anyone in about half an hour, is free to download or view in browser without login.","PeriodicalId":403078,"journal":{"name":"Public Economics: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115225601","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":"Demographics, Taxes, and Social Spending in the E.U.","authors":"Philip Lawton","doi":"10.2139/ssrn.3659448","DOIUrl":"https://doi.org/10.2139/ssrn.3659448","url":null,"abstract":"This paper presents a panel data analysis of general government spending on health, education, and the major components of social protection in light of demographic trends (aging and migration) and selected domestic revenue sources (personal and corporate income taxes) across 27 E.U. member states, excluding the U.K., from 2006 to 2018. The countries are grouped into developed and transitional economies. The model employed produces statistically significant and intuitively reasonable results for spending on education, old age, sickness and disability, and unemployment in developed economies. The author suggests that an omitted variable, lobbying, might be a determinant of the developed economies’ spending on health. In the case of the transitional economies that emerged from the former Soviet bloc, interdisciplinary research might aid in the development of a more suitable model.","PeriodicalId":403078,"journal":{"name":"Public Economics: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"428 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122467751","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":"Deepening Tax Compliance Culture in the Educational Institutions of a Private Character in Anambra State, Nigeria","authors":"K. Nwonyuku","doi":"10.2139/ssrn.3621695","DOIUrl":"https://doi.org/10.2139/ssrn.3621695","url":null,"abstract":"Gap created by none definition of ‘educational institutions of public character’ in any of the Nigerian tax laws for the purpose of ascertaining income tax and capital gains tax has generated serious arguments and legal debates between the operators of educational institutions of a private character and the relevant tax authorities in Nigeria. Among the profits exempted from the tax payment as provided in section 23(1) (c) of the Companies Income Tax Act, 2007 (as amended) are the profits of any company engaged in educational activities of a public character in so far as such profits are not derived from a trade or business carried on by such company, and this is also contained in paragraph 13 of the third Schedule of Personal Income Tax Act, 2011 (as amended) and section 26(1) (a) of Capital Gains Tax Act, 2004 (as amended). These sections of the tax laws have been misconstrued by many operators of private schools in Nigeria to mean ‘all-inclusive’; thus, leading to low compliance in paying taxes by this circle. Consequently, it has led some persons and group of persons to demand for further insights and enlightenment on the relevant provisions of federally administered tax laws and tax administration as it concerns private schools in Nigeria. Against this backdrop, this paper attempts to deepen tax compliance culture in the privately owned educational institutions in Anambra State, Nigeria. It does this by examining certain tax concepts and laws, explaining the responsibilities of operators of private schools on tax matters and providing them with information on the requirements of the tax laws as they affect this group and for education of the public at large. This paper is organized to eradicate tax evasion, while minimizing tax avoidance and eliminate any form of multiple taxation occurring within this circle. It concludes that improvement in tax education of this stakeholder would likely optimize tax revenue collection and voluntary compliance culture. Among others, this paper recommends that FIRS should have more effective and efficient structure of taxpayers’ service department that would support in addressing the taxpayers’ grievance and regularly educate all the stakeholders in improving tax compliance culture.","PeriodicalId":403078,"journal":{"name":"Public Economics: Fiscal Policies & Behavior of Economic Agents eJournal","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128236007","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}