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Greening the G7 economies 七国集团经济的绿化
IF 6.8 2区 经济学
Oxford Review of Economic Policy Pub Date : 2023-11-22 DOI: 10.1093/oxrep/grad039
Edward B Barbier
{"title":"Greening the G7 economies","authors":"Edward B Barbier","doi":"10.1093/oxrep/grad039","DOIUrl":"https://doi.org/10.1093/oxrep/grad039","url":null,"abstract":"Despite some progress, the Group of 7 (G7) have yet to act collectively to foster a low-carbon transition of their economies. This paper outlines such a strategy, which would also encourage other economies to follow suit. This strategy has three elements: fossil fuel pricing reforms; recycling revenues to fund green innovation and to offset any adverse income or employment impacts; and developing the proposed G7 Climate Club to promote compliance by other countries. This must be accompanied by comprehensive assistance to emerging market and developing economies to help accelerate their clean energy transition, facilitate their participation in the Climate Club, and attain climate, poverty and development goals.","PeriodicalId":48024,"journal":{"name":"Oxford Review of Economic Policy","volume":"21 1","pages":""},"PeriodicalIF":6.8,"publicationDate":"2023-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138528754","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Sensitive intervention points: a strategic approach to climate action 敏感的干预点:气候行动的战略方针
IF 6.8 2区 经济学
Oxford Review of Economic Policy Pub Date : 2023-11-22 DOI: 10.1093/oxrep/grad043
Penny Mealy, Pete Barbrook-Johnson, Matthew C Ives, Sugandha Srivastav, Cameron Hepburn
{"title":"Sensitive intervention points: a strategic approach to climate action","authors":"Penny Mealy, Pete Barbrook-Johnson, Matthew C Ives, Sugandha Srivastav, Cameron Hepburn","doi":"10.1093/oxrep/grad043","DOIUrl":"https://doi.org/10.1093/oxrep/grad043","url":null,"abstract":"While some countries are making progress reducing greenhouse gas emissions, few are progressing rapidly enough to be on track to reach net zero emissions by mid-century. The transition to net zero involves deep structural transformation of the global economy and its associated complex socio-technical systems. Here, we set out a conceptual framework to identify ‘sensitive intervention points’ (SIPs) in systems where a small or moderately-sized intervention could drive outsized impacts and transformational change. These points take three forms: (i) critical tipping points, such as a critical price threshold, (ii) critical nodes in networks, such as an influential actor in a social network, and (iii) critical points in time, where windows of opportunity for change open up. We also propose an assessment methodology for prioritizing interventions in terms of their potential impacts, risks, and ease of implementation. We apply our framework and assessment methodology to evaluate a list of proposed interventions for accelerating global decarbonization. Promising interventions include investing in key clean energy technologies with consistent cost declines, introducing central bank policies to reduce the value of polluting collateral, and enhancing climate-related financial risk disclosure.","PeriodicalId":48024,"journal":{"name":"Oxford Review of Economic Policy","volume":"529 1","pages":""},"PeriodicalIF":6.8,"publicationDate":"2023-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138528769","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Does a progressive wealth tax reduce top wealth inequality? Evidence from Switzerland 累进财富税能减少贫富差距吗?来自瑞士的证据
2区 经济学
Oxford Review of Economic Policy Pub Date : 2023-08-18 DOI: 10.1093/oxrep/grad025
Samira Marti, Isabel Z Martínez, Florian Scheuer
{"title":"Does a progressive wealth tax reduce top wealth inequality? Evidence from Switzerland","authors":"Samira Marti, Isabel Z Martínez, Florian Scheuer","doi":"10.1093/oxrep/grad025","DOIUrl":"https://doi.org/10.1093/oxrep/grad025","url":null,"abstract":"Abstract Like in many other countries, wealth inequality has increased in Switzerland over the last 50 years. By providing new evidence on cantonal top wealth shares for each of the 26 cantons since 1969, we show that the overall trend masks striking differences across cantons, both in levels and trends. Combining this with variation in cantonal wealth taxes, we then estimate an event study model to identify the dynamic effects of reforms to top wealth tax rates on the subsequent evolution of wealth concentration. Our results imply that a reduction in the top marginal wealth tax rate by 0.1 percentage points increases the top 1 per cent (0.1 per cent) wealth share by 0.9 (1.2) percentage points 5 years after the reform. This suggests that wealth tax cuts over the last 50 years explain roughly 18 per cent (25 per cent) of the increase in wealth concentration among the top 1 per cent (0.1 per cent).","PeriodicalId":48024,"journal":{"name":"Oxford Review of Economic Policy","volume":"291 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136020545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Taxing the wealthy: the choice between wealth and capital income taxation 对富人征税：财富和资本所得税之间的选择
IF 6.8 2区 经济学
Oxford Review of Economic Policy Pub Date : 2023-08-18 DOI: 10.1093/oxrep/grad030
S. Bastani, Daniel Waldenström
{"title":"Taxing the wealthy: the choice between wealth and capital income taxation","authors":"S. Bastani, Daniel Waldenström","doi":"10.1093/oxrep/grad030","DOIUrl":"https://doi.org/10.1093/oxrep/grad030","url":null,"abstract":"\u0000 This paper analyses the relative merits of wealth and capital income taxes as instruments for taxing the rich. The main rationale for a wealth tax is to address the incompleteness of the tax code in taxing unrealized capital gains, which can be enormous and concentrated among the wealthy. However, by taxing presumed rather than actual returns, a wealth tax fails to address inequality among taxpayers with the same wealth but different capital incomes. In addition, wealth taxation creates liquidity problems that may adversely affect growth firms and start-ups, which is why wealth taxes typically provide exemptions and deductions for certain business assets. Our empirical analysis, based on Swedish register data, describes the wealth composition of the wealthiest and assesses the distributional incidence of different combinations of wealth and capital income taxation.","PeriodicalId":48024,"journal":{"name":"Oxford Review of Economic Policy","volume":" ","pages":""},"PeriodicalIF":6.8,"publicationDate":"2023-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45418835","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Rethinking capital and wealth taxation 重新思考资本和财富税
IF 6.8 2区 经济学
Oxford Review of Economic Policy Pub Date : 2023-08-18 DOI: 10.1093/oxrep/grad026
T. Piketty, Emmanuel Saez, G. Zucman
{"title":"Rethinking capital and wealth taxation","authors":"T. Piketty, Emmanuel Saez, G. Zucman","doi":"10.1093/oxrep/grad026","DOIUrl":"https://doi.org/10.1093/oxrep/grad026","url":null,"abstract":"\u0000 This paper reviews recent developments in the theory and practice of optimal capital taxation. We emphasize three main rationales for capital taxation. First, the frontier between capital and labour income flows is often fuzzy, thereby lending support to a broad-based, comprehensive income tax. Next, the very notions of income and consumption flows are difficult to define and measure for top wealth holders where capital gains due to asset price effects dwarf ordinary income and consumption flows. Therefore the proper way to tax billionaires is a progressive wealth tax. Finally, as individuals cannot choose their parents, there are strong meritocratic reasons why we should tax inherited wealth more than earned income or self-made wealth for which individuals can be held responsible, at least in part. This implies that the ideal fiscal system should also include a progressive inheritance tax, in addition to progressive income and wealth taxes. We then confront our prescriptions with historical experience. Although there are significant differences, we argue that observed fiscal systems in modern democracies bear important similarities with this ideal triptych.","PeriodicalId":48024,"journal":{"name":"Oxford Review of Economic Policy","volume":" ","pages":""},"PeriodicalIF":6.8,"publicationDate":"2023-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43285556","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 21
Has FATCA succeeded in reducing tax evasion through foreign accounts? FATCA是否成功地减少了通过外国账户逃税?
IF 6.8 2区 经济学
Oxford Review of Economic Policy Pub Date : 2023-08-18 DOI: 10.1093/oxrep/grad020
L. De Simone, Bridget Stomberg
{"title":"Has FATCA succeeded in reducing tax evasion through foreign accounts?","authors":"L. De Simone, Bridget Stomberg","doi":"10.1093/oxrep/grad020","DOIUrl":"https://doi.org/10.1093/oxrep/grad020","url":null,"abstract":"\u0000 The Foreign Account Tax Compliance Act (FATCA) spurred an unprecedented increase in the IRS’s ability to obtain information about assets held and income earned by US persons in foreign financial accounts, which were especially prone to illegal tax evasion. We review the evidence on FATCA’s efficacy at reducing tax evasion through foreign accounts and provide additional, longer-term evidence. We then discuss potential avenues for avoiding FATCA reporting. We also highlight other consequences of FATCA and provide exploratory analyses pointing to the use of the United States as a tax haven for foreign investors. We conclude with policy recommendations and suggestions for future research in areas where more analysis is needed.","PeriodicalId":48024,"journal":{"name":"Oxford Review of Economic Policy","volume":" ","pages":""},"PeriodicalIF":6.8,"publicationDate":"2023-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43847652","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Are capital gains the Achilles’ heel of taxing the rich? 资本利得是富人征税的致命弱点吗?
IF 6.8 2区 经济学
Oxford Review of Economic Policy Pub Date : 2023-08-18 DOI: 10.1093/oxrep/grad027
J. Slemrod, Xinyu Chen
{"title":"Are capital gains the Achilles’ heel of taxing the rich?","authors":"J. Slemrod, Xinyu Chen","doi":"10.1093/oxrep/grad027","DOIUrl":"https://doi.org/10.1093/oxrep/grad027","url":null,"abstract":"\u0000 This paper considers the role of capital gains taxation in enhancing tax progressivity, and argues that capital gains are the Achilles’ heel of taxing the rich more effectively. We revisit the key aspects of how capital gains are taxed and address the main arguments against taxing capital gains more heavily: (i) it would discourage socially beneficial activities, such as innovation, (ii) implementing structural changes is unadministrable, and (iii) the ‘lock-in’ effect means that increasing the tax rate is an inefficient way to raise revenue. To address concerns with the unpopularity of taxing unrealized gains during one’s lifetime and retroactive taxes, we conclude with a partial proposal for constructive realization at death that would apply only to gains accrued after a certain date, while allowing for discounted pre-payments of tax liability.","PeriodicalId":48024,"journal":{"name":"Oxford Review of Economic Policy","volume":" ","pages":""},"PeriodicalIF":6.8,"publicationDate":"2023-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47566728","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Taxing cryptocurrencies cryptocurrencies征税
2区 经济学
Oxford Review of Economic Policy Pub Date : 2023-08-18 DOI: 10.1093/oxrep/grad035
Katherine Baer, Ruud De Mooij, Shafik Hebous, Michael Keen
{"title":"Taxing cryptocurrencies","authors":"Katherine Baer, Ruud De Mooij, Shafik Hebous, Michael Keen","doi":"10.1093/oxrep/grad035","DOIUrl":"https://doi.org/10.1093/oxrep/grad035","url":null,"abstract":"Abstract Policy-makers are struggling to accommodate cryptocurrencies within tax systems not designed to handle them; this paper reviews the issues that arise. The greatest challenges are for implementation: crypto’s pseudonymity is an inherent obstacle to third-party reporting. Design problems arise from cryptocurrencies’ dual nature as investment assets and means of payment: more straightforward is a compelling case for corrective taxation of carbon-intensive mining. Ownership is highly concentrated at the top, but many crypto investors have only moderate incomes. The capital gains tax revenue at stake worldwide may be in the tens of billions of dollars, but the more profound risks may ultimately be for VAT/sales taxes.","PeriodicalId":48024,"journal":{"name":"Oxford Review of Economic Policy","volume":"285 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135971830","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Taxing the rich (more) 对富人征税(更多)
IF 6.8 2区 经济学
Oxford Review of Economic Policy Pub Date : 2023-08-18 DOI: 10.1093/oxrep/grad033
Irem Güçeri, J. Slemrod
{"title":"Taxing the rich (more)","authors":"Irem Güçeri, J. Slemrod","doi":"10.1093/oxrep/grad033","DOIUrl":"https://doi.org/10.1093/oxrep/grad033","url":null,"abstract":"\u0000 This issue of the Oxford Review of Economic Policy addresses whether and how to tax the rich more, drawing on the expertise of 16 author teams, most of whom are economists but also spanning legal scholarship and political science. The papers in this issue ask a range of research and policy questions about the way governments tax the rich. How can we measure the effective tax rates on the incomes and/or wealth of the rich? How do governments tax specific sources of income that the rich earn, and is there need for reform? Who bears the burden of different types of taxes, and do potential gains from reducing the tax burden on the rich ‘trickle down’? How do the rich respond to the taxes imposed on them?","PeriodicalId":48024,"journal":{"name":"Oxford Review of Economic Policy","volume":" ","pages":""},"PeriodicalIF":6.8,"publicationDate":"2023-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44183446","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
What drives major tax reform? Implications for taxing the rich 是什么推动了重大的税收改革?对富人征税的影响
IF 6.8 2区 经济学
Oxford Review of Economic Policy Pub Date : 2023-08-18 DOI: 10.1093/oxrep/grad028
Martina Beretta, Irem Güçeri, K. Jakobsen
{"title":"What drives major tax reform? Implications for taxing the rich","authors":"Martina Beretta, Irem Güçeri, K. Jakobsen","doi":"10.1093/oxrep/grad028","DOIUrl":"https://doi.org/10.1093/oxrep/grad028","url":null,"abstract":"\u0000 This paper examines some drivers behind substantial changes in tax policy in recent decades. Using existing theories and our definition of ‘beneficial major tax reforms’, we discuss three case studies: the US in the 1980s, the UK in the 1980s, and the UK’s failed ‘mini-budget’ of 2022. Our analysis reveals that the US’s TRA86 has, to some degree, improved efficiency, while the UK reforms may have exacerbated inequality with ambiguous effects on efficiency. Finally, we outline the potential for future reforms and conclude that political conditions are more likely to instigate major change than economic motivations.","PeriodicalId":48024,"journal":{"name":"Oxford Review of Economic Policy","volume":" ","pages":""},"PeriodicalIF":6.8,"publicationDate":"2023-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49041691","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
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