Taxation and Internal Migration: Evidence from the Swiss Census Using Community-Level Variation in Income Tax Rates We investigate the relationship between income tax rate variation and internal migration for the unique case of Switzerland, whose system of determining tax rates primarily at the community level results in enough variation to permit analysis of their influence on migration. Speci...

The stock market participation rate for U.S. households with assets in both taxable and tax-deferred accounts is increasing with age in taxable accounts and decreasing with age in tax-deferred accounts. This paper asks whether a quantitative life-cycle model of portfolio choice can match these life-cycle patterns of stock market participation. The model incorporates several key features into a ...

We consider the design of a tax on greenhouse gas emissions for the United States. We consider three major issues: the tax rate (including the use of the revenues and rate changes over time), the optimal tax base, and international trade concerns. We show that a well-designed carbon tax can capture about 80% of U.S. emissions by taxing only a few thousand taxpayers, and almost 90% with a modest...

This study examines how public and private firms in China respond to the 2008 statutory tax rate reduction from 33 percent to 25 percent. Using a proprietary dataset of private firms, we find that private firms report significantly more incomedecreasing current accruals than do public firms in 2007, the year prior to the tax rate reduction. These negative accruals were substantial and material,...

a r t i c l e i n f o Recent facts on the importance of corporate losses motivate more careful study of the impact of tax incentives for investment on firms that lose money. I model firm investment decisions in a setting featuring financing constraints and carrybacks and carryforwards of operating losses. I estimate investment responses to tax incentives allowing effects to vary with cash flows...