Which factors have driven wealth taxation over the long run of history? We look at a new dataset on first permanent introduction taxes net wealth, i.e., recurrent levied based absolute value an individual’s financial assets, to answer this question. First, we place in historical genesis modern tax state. find that are more recent, yet less widely spread phenomenon than other progressive taxes. ...

Much prior literature on asset patterns among the elderly has mostly overlooked housing wealth as a determinant of retiree wealth, particularly in the Japanese context. Yet releasing equity in housing may be a natural mechanism to boost consumption, reduce public pension liability, and mitigate the demand for long-term care facilities in Japan. Our study evaluates what might be needed to implem...

A wide body of empirical evidence, based on randomized experiments, finds that 20-40 percent of fiscal stimulus payments (e.g. tax rebates) are spent on nondurable household consumption in the quarter that they are received. We develop a structural economic model to interpret this evidence. Our model integrates the classical Baumol-Tobin model of money demand into the workhorse incomplete-marke...

This study measures spending power inequality within age cohorts and estimates fiscal progressivity via lifetime net tax rates. We find, first, that in income especially wealth dramatically overstates power. Second, current differs from because of credit constraints, in-kind government benefits, other factors. Third, the US system is highly progressive once are old enough to have dispersed huma...

This paper aims to investigate impacts of public provision of universal health insurance (UHI) in an environment with household heterogeneity and financial market incompleteness. Various UHI polices with both distortionary (payroll-tax) and nondistortionary (lump-sum tax) financing methods are compared to address the tradeoff between risk sharing and tax distortion as well as corresponding welf...

Governments have an enormous economic and political stake in the health of their populations. Population health is not only fundamental to economic growth but also affects short-term and long-term government expenditure on health care, disability, and other social programs and influences direct and indirect tax receipts. Fiscal transfers between citizen and state are mostly ignored in conventio...

Commonly used consumption/saving models have radically different implications for households response to income shocks, ranging from the hands-to-mouth model, where consumption bears all the adjustment, to the complete markets model, where wealth bears all the adjustment. In this paper we use the Italian Survey of Household Income and Wealth, which is the only available micro dataset that conta...

The obesity epidemic is also an economic tragedy. This analysis evaluates the economic effects and the potential to improve the well-being of both individual and societal wealth. Econometric techniques should carefully assess the degree to which obesity affects declines in business output, employment, income, and tax revenues at the regional and national levels. Microeconomics assesses lost pro...

In the Regional Expenditure Revenue Budget (APBD), it is stated that regional tax one of sources revenue plays an important role, in addition to other such as levies, results management separated wealth, and legitimate local revenue. This study aims determine how much contributed original district Lembata for years 2016–2020. The object research 9 types taxes managed by Bapenda, which secondary...

We study the optimal one-shot tax reform in standard incomplete markets model where households differ their wealth, earnings, permanent labor skill, and age. The government can provide transfers by raising revenue has several instruments at its disposal: a flat capital income tax, consumption non-linear tax. fiscal policy funds transfer that is nearly 50 percent of GDP through combination very ...