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Behavioural responses to a wealth tax 对财富税的行为反应
IF 7.3 3区 经济学
Fiscal Studies Pub Date : 2021-10-25 DOI: 10.1111/1475-5890.12283
Arun Advani, Hannah Tarrant
{"title":"Behavioural responses to a wealth tax","authors":"Arun Advani,&nbsp;Hannah Tarrant","doi":"10.1111/1475-5890.12283","DOIUrl":"https://doi.org/10.1111/1475-5890.12283","url":null,"abstract":"<p>In this paper, we review the existing empirical evidence on how individuals respond to the incentives created by a net wealth tax. Variation in the overall magnitude of behavioural responses is substantial: estimates of the elasticity of taxable wealth vary by a factor of 800. We explore three key reasons for this variation: tax design, context and methodology. We then discuss what is known about the importance of individual margins of response and how these interact with policy choices. Finally, we use our analysis to systematically narrow down and reconcile the range of elasticity estimates. We argue that a well-designed wealth tax would reduce the tax base by 7–17 per cent if levied at a tax rate of 1 per cent.</p>","PeriodicalId":51602,"journal":{"name":"Fiscal Studies","volume":null,"pages":null},"PeriodicalIF":7.3,"publicationDate":"2021-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-5890.12283","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"109174326","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Reassessing the regressivity of the VAT 重新评估增值税的累退性
IF 7.3 3区 经济学
Fiscal Studies Pub Date : 2021-09-26 DOI: 10.1111/1475-5890.12290
Alastair Thomas
{"title":"Reassessing the regressivity of the VAT","authors":"Alastair Thomas","doi":"10.1111/1475-5890.12290","DOIUrl":"https://doi.org/10.1111/1475-5890.12290","url":null,"abstract":"<p>This paper reassesses the often-made conclusion that the value-added tax (VAT) is regressive, drawing on tax microsimulation models constructed for an unprecedented 27 OECD countries. The paper first considers the competing methodological approaches used in previous distributional studies, highlighting the impact of savings patterns on cross-sectional analysis when VAT burdens are measured relative to income. It is argued that measuring VAT burdens relative to expenditure – thereby removing the influence of savings – can be expected to provide a more reliable picture of the distributional impact of the VAT. On this basis, the VAT is found to be either roughly proportional or slightly progressive in most of the 27 OECD countries examined. Nevertheless, the results for a small number of countries highlight that broad-based VAT systems that have few reduced VAT rates or exemptions can produce a small degree of regressivity. Results also show that even a roughly proportional VAT can still have significant equity implications for the poor – potentially pushing some households into poverty. This emphasises the importance of ensuring the progressivity of the tax-benefit system as a whole in order to compensate poor households for the loss in purchasing power from paying VAT.</p>","PeriodicalId":51602,"journal":{"name":"Fiscal Studies","volume":null,"pages":null},"PeriodicalIF":7.3,"publicationDate":"2021-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"109174545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Jobs and job quality between the eve of the Great Recession and the eve of COVID-19 从大衰退前夕到新冠疫情前夕的就业和工作质量
IF 7.3 3区 经济学
Fiscal Studies Pub Date : 2021-07-28 DOI: 10.1111/1475-5890.12279
Pascale Bourquin, Tom Waters
{"title":"Jobs and job quality between the eve of the Great Recession and the eve of COVID-19","authors":"Pascale Bourquin,&nbsp;Tom Waters","doi":"10.1111/1475-5890.12279","DOIUrl":"10.1111/1475-5890.12279","url":null,"abstract":"<p>In 2019, the employment rate among 25- to 64-year-olds in the UK reached 80 per cent – the highest on record, and considerably higher than the 76 per cent rate recorded shortly before the Great Recession. In this paper, we investigate the growth in employment between the eve of the Great Recession and the eve of COVID-19 across several dimensions. We analyse which sectors, demographic groups and regions accounted for the rise. We also investigate how job ‘quality’ – in both financial and non-financial terms – has changed. We find that almost all demographic groups and regions saw a rise in employment, especially those with low pre-existing employment rates and those near the bottom of the income distribution. Hourly pay growth was very weak over the period, with the median actually slightly falling. Other indicators of job quality show a more mixed picture: employees seem to have greater appreciation of their work and firm, but perceive less security and flexibility in their job.</p>","PeriodicalId":51602,"journal":{"name":"Fiscal Studies","volume":null,"pages":null},"PeriodicalIF":7.3,"publicationDate":"2021-07-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1475-5890.12279","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"39429548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The decline of home cooked food 家常菜的减少
IF 7.3 3区 经济学
Fiscal Studies Pub Date : 2021-06-14 DOI: 10.1920/WP.IFS.2021.1421
V. Lechêne, W. Jin, R. Griffith
{"title":"The decline of home cooked food","authors":"V. Lechêne, W. Jin, R. Griffith","doi":"10.1920/WP.IFS.2021.1421","DOIUrl":"https://doi.org/10.1920/WP.IFS.2021.1421","url":null,"abstract":"The share of home-cooked food in the diet of UK households declined from the 1980s. This was contemporaneous with a decline in the market price of ingredients for home cooking relative to ready-to-eat foods. We consider a simple model of food consumption and time use that captures the key driving forces behind these apparently conflicting trends. We show that observed behaviour can be rationalised by the fact that the shadow price of home-cooked food, which accounts for the fact that cooking takes time, has risen relative to the price of ready-to-eat food, due to the increase in the market value of time of secondary earners. We discuss the implications for policies that aim to encourage healthier diets.","PeriodicalId":51602,"journal":{"name":"Fiscal Studies","volume":null,"pages":null},"PeriodicalIF":7.3,"publicationDate":"2021-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47861019","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 8
Limiting the distortionary effects of transaction taxes: Scottish stamp duty after the Mirrlees Review 限制交易税的扭曲效应:《米尔利评论》之后的苏格兰印花税
IF 7.3 3区 经济学
Fiscal Studies Pub Date : 2021-05-13 DOI: 10.1111/1475-5890.12270
Daniel Borbely
{"title":"Limiting the distortionary effects of transaction taxes: Scottish stamp duty after the Mirrlees Review","authors":"Daniel Borbely","doi":"10.1111/1475-5890.12270","DOIUrl":"10.1111/1475-5890.12270","url":null,"abstract":"<p>We investigate the distortionary effects of transaction taxes through a case study of the Scottish residential property market. We make use of four sources of variation in transaction tax rates present in recent Scottish tax systems: (1) jumps in tax liabilities at tax thresholds; (2) jumps in marginal tax rates at thresholds; (3) a tax announcement that created temporary tax saving opportunities; and (4) a shift to a more progressive transaction tax regime. Our results indicate that market participants are highly responsive to tax changes and are willing to change the price and timing of transactions when tax savings opportunities are present. We also find that progressive reform had a significant positive effect on transaction activity in the market segment where tax rates were reduced. However, the higher end of the market, where tax rates increased, was mostly unaffected by progressive reform, with the exception of the market for very expensive properties, where a negative effect is identified. Implications of our findings are that if governments want to make transaction tax regimes more efficient, progressive taxation might be a good way to limit distortionary effects, whilst also encouraging transaction activity in the lower end of the market.</p>","PeriodicalId":51602,"journal":{"name":"Fiscal Studies","volume":null,"pages":null},"PeriodicalIF":7.3,"publicationDate":"2021-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1475-5890.12270","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49456950","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Preparing for a pandemic: spending dynamics and panic buying during the COVID-19 first wave 为大流行做准备:COVID-19第一波期间的支出动态和恐慌性购买
IF 7.3 3区 经济学
Fiscal Studies Pub Date : 2021-05-13 DOI: 10.1111/1475-5890.12271
Martin O'Connell, Áureo de Paula, Kate Smith
{"title":"Preparing for a pandemic: spending dynamics and panic buying during the COVID-19 first wave","authors":"Martin O'Connell,&nbsp;Áureo de Paula,&nbsp;Kate Smith","doi":"10.1111/1475-5890.12271","DOIUrl":"10.1111/1475-5890.12271","url":null,"abstract":"<p>In times of heightened uncertainty, consumers face incentives to build up precautionary stocks of essential supplies. We study consumer spending dynamics during one such time, the first infection wave of the COVID-19 pandemic, using household scanner data covering fast-moving consumer goods in the United Kingdom. We document large increases in demand for storable products, such as food staples and household supplies, in the days before lockdown. Households in all socio-economic groups exhibit unusually high demand pre-lockdown, but there is a clear gradient, with the largest demand spikes for wealthier households. Although stories of people purchasing extreme amounts received a lot of attention, higher aggregate demand was mainly driven by more households than usual choosing to buy storable products, with only small increases in average quantities bought on a given trip. Temporary limits on the number of units per transaction, introduced following the demand spike, are therefore unlikely to lead to the avoidance of stock-outs.</p>","PeriodicalId":51602,"journal":{"name":"Fiscal Studies","volume":null,"pages":null},"PeriodicalIF":7.3,"publicationDate":"2021-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1475-5890.12271","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"39112918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 45
Mortality Inequality in England over the Past 20 Years* 英国过去20年的死亡率不平等*
IF 7.3 3区 经济学
Fiscal Studies Pub Date : 2021-04-29 DOI: 10.1111/1475-5890.12266
James Banks, Sarah Cattan, Lucy Kraftman, Sonya Krutikova
{"title":"Mortality Inequality in England over the Past 20 Years*","authors":"James Banks,&nbsp;Sarah Cattan,&nbsp;Lucy Kraftman,&nbsp;Sonya Krutikova","doi":"10.1111/1475-5890.12266","DOIUrl":"10.1111/1475-5890.12266","url":null,"abstract":"<p>In this paper, we study the evolution of age-group- and gender-specific mortality and mortality inequality in England between 2003 and 2016, by comparing small geographic areas ranked by deprivation and grouped into bins of similar population size. We show that across all age groups, but especially in the older age groups (65+), there has been a clear and significant reduction in rates of mortality since 2003. In spite of these improvements, we continue to see significant inequalities in mortality across most age groups in 2016 and evidence of rising inequalities among women in the 65+ and men in the 80+ age groups. Furthermore, we see a striking stalling of the downwards trend in mortality and mortality inequality observed between 2003 and 2010 during the years of economic austerity in the aftermath of the 2008 financial crisis in England between 2010 and 2016. Analysis of specific causes of death among adults aged 20–79 allows us to examine the drivers and dynamics of these trends in more depth, as well as to consider scope for, and types of, interventions that would be appropriate at different ages.</p>","PeriodicalId":51602,"journal":{"name":"Fiscal Studies","volume":null,"pages":null},"PeriodicalIF":7.3,"publicationDate":"2021-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1475-5890.12266","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43309641","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Special Issue on the Evolution of Mortality Inequality in 11 OECD Countries, 1990–2018: A Geographical Approach 《1990-2018年11个经合组织国家死亡率不平等演变的地理分析》特刊
IF 7.3 3区 经济学
Fiscal Studies Pub Date : 2021-04-29 DOI: 10.1111/1475-5890.12269
{"title":"Special Issue on the Evolution of Mortality Inequality in 11 OECD Countries, 1990–2018: A Geographical Approach","authors":"","doi":"10.1111/1475-5890.12269","DOIUrl":"10.1111/1475-5890.12269","url":null,"abstract":"","PeriodicalId":51602,"journal":{"name":"Fiscal Studies","volume":null,"pages":null},"PeriodicalIF":7.3,"publicationDate":"2021-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1475-5890.12269","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"62773484","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Evolution of Mortality Inequality in 11 OECD Countries: Introduction* 11个经合组织国家死亡率不平等的演变:引言*
IF 7.3 3区 经济学
Fiscal Studies Pub Date : 2021-04-29 DOI: 10.1111/1475-5890.12267
James Banks, Janet Currie, Sonya Krutikova, Kjell G. Salvanes, Hannes Schwandt
{"title":"The Evolution of Mortality Inequality in 11 OECD Countries: Introduction*","authors":"James Banks,&nbsp;Janet Currie,&nbsp;Sonya Krutikova,&nbsp;Kjell G. Salvanes,&nbsp;Hannes Schwandt","doi":"10.1111/1475-5890.12267","DOIUrl":"10.1111/1475-5890.12267","url":null,"abstract":"","PeriodicalId":51602,"journal":{"name":"Fiscal Studies","volume":null,"pages":null},"PeriodicalIF":7.3,"publicationDate":"2021-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1475-5890.12267","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42734650","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Geographic Inequality in Income and Mortality in Germany* 德国收入和死亡率的地域不平等*
IF 7.3 3区 经济学
Fiscal Studies Pub Date : 2021-04-29 DOI: 10.1111/1475-5890.12259
Peter Redler, Amelie Wuppermann, Joachim Winter, Hannes Schwandt, Janet Currie
{"title":"Geographic Inequality in Income and Mortality in Germany*","authors":"Peter Redler,&nbsp;Amelie Wuppermann,&nbsp;Joachim Winter,&nbsp;Hannes Schwandt,&nbsp;Janet Currie","doi":"10.1111/1475-5890.12259","DOIUrl":"10.1111/1475-5890.12259","url":null,"abstract":"<p>We use data from the German Federal Statistical Office on population counts, births, deaths and income to study the development of socio-economic inequality in mortality rates from 1990 to 2015 for different age groups and both genders. Ranking the 401 German districts by average disposable income per capita, we observe large inequalities in district-level mortality rates in 1990, which had almost disappeared, or at least been flattened considerably, by 2015 particularly for infants, children and the very old. The most important driver of this reduction in inequality is German reunification in 1990. As indicated by more detailed analyses comparing districts in the former East and the former West, even five years after reunification there was a large gap in disposable income, with all Eastern districts considerably poorer than the poorest district in the West. At the same time, mortality rates were higher for all age groups and both genders in the East. Income has caught up, to the extent that there are equally poor districts in the East and West in most recent years (although the West is still much richer on average). Mortality rates in the East have improved considerably and are even below mortality rates for similarly poor districts in the West in the most recent data.</p>","PeriodicalId":51602,"journal":{"name":"Fiscal Studies","volume":null,"pages":null},"PeriodicalIF":7.3,"publicationDate":"2021-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1475-5890.12259","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43814013","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
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