Chapter 12
... • Changes in marginal tax rates, particularly high marginal rates, may exert an impact on aggregate supply because marginal tax rates influence the relative attractiveness of productive activity compared to leisure and tax avoidance. • Supply-side policies are designed to influence long-run growth ( ...
... • Changes in marginal tax rates, particularly high marginal rates, may exert an impact on aggregate supply because marginal tax rates influence the relative attractiveness of productive activity compared to leisure and tax avoidance. • Supply-side policies are designed to influence long-run growth ( ...
Working Paper No. 598 - Levy Economics Institute of Bard College
... still quite fragile and remained dependent on Western support and markets, as well as access to Western capital and know-how. CEE countries especially had become highly integrated into the global economy and the global financial structures, leaving them uniquely vulnerable to the breakdown of the fi ...
... still quite fragile and remained dependent on Western support and markets, as well as access to Western capital and know-how. CEE countries especially had become highly integrated into the global economy and the global financial structures, leaving them uniquely vulnerable to the breakdown of the fi ...
MetWest Total Return Bond Fund
... advice before making any financial decisions. ©2017 Bloomberg Finance L.P. All rights reserved. Investment Risks It is important to note that the Fund is not guaranteed by the U.S. Government. Fixed income investments entail interest rate risk, the risk of issuer default, issuer credit risk, and pri ...
... advice before making any financial decisions. ©2017 Bloomberg Finance L.P. All rights reserved. Investment Risks It is important to note that the Fund is not guaranteed by the U.S. Government. Fixed income investments entail interest rate risk, the risk of issuer default, issuer credit risk, and pri ...
Liebman Disability Insurance JEP March 20
... 1970s to 3.6 percent in the years immediately preceding the 2007-2009 recession and 4.6 percent in 2013. Some experts have interpreted the increase as evidence of a need for significant reform. In this journal, Autor and Duggan (2006) describe the growth in the disability insurance rolls as "a fisca ...
... 1970s to 3.6 percent in the years immediately preceding the 2007-2009 recession and 4.6 percent in 2013. Some experts have interpreted the increase as evidence of a need for significant reform. In this journal, Autor and Duggan (2006) describe the growth in the disability insurance rolls as "a fisca ...
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... macroeconomic equilibrium in such a system. There is a tradition in economic theory which analyzes macroeconomic behavior in models where, unlike most macroeconomic analysis, there are no debt instruments and there is no fixed interest rate. This tradition began with the classic paper by Metzler (19 ...
... macroeconomic equilibrium in such a system. There is a tradition in economic theory which analyzes macroeconomic behavior in models where, unlike most macroeconomic analysis, there are no debt instruments and there is no fixed interest rate. This tradition began with the classic paper by Metzler (19 ...
NBER WORKING PAPER SERIES TAXATiON OF INVESTMENT THE CERTAINTY CASE
... It is easy to show that t(N) t < t(tn). It also follows easily that cm(1 + rm(1 — cm(1 +rm(1 — t(m)) c(1 + ed). If t > r, then cm(1 + rm(1 — ri)) > c(1 + eq), and the corporation would prefer equity finance to borrowing in country rn. But if t < r, then CN(1 + rN(1 — ri)) < Cm(1 rm(1 — ri)), since c ...
... It is easy to show that t(N) t < t(tn). It also follows easily that cm(1 + rm(1 — cm(1 +rm(1 — t(m)) c(1 + ed). If t > r, then cm(1 + rm(1 — ri)) > c(1 + eq), and the corporation would prefer equity finance to borrowing in country rn. But if t < r, then CN(1 + rN(1 — ri)) < Cm(1 rm(1 — ri)), since c ...
INVESTMENT LED GROWTH IN INDIA: HINDU FACT OR
... late seventies or early 1980’s and has been sustained by reforms through the 1990’s (Rodrik, and Subramanian 2004, Panagariya, 2004, Virmani 2004, Basu and Maertens 2007, Kotwal et al 2009). India’s growth rate of per capita income over the 50 year period, 1950-2000, was 3.2% per year. But since 200 ...
... late seventies or early 1980’s and has been sustained by reforms through the 1990’s (Rodrik, and Subramanian 2004, Panagariya, 2004, Virmani 2004, Basu and Maertens 2007, Kotwal et al 2009). India’s growth rate of per capita income over the 50 year period, 1950-2000, was 3.2% per year. But since 200 ...
Macro Lecture 4: Aggregate Demand (AD) Curve
... secretary and the Senate must confirm him/her. Once confirmed, the Treasury Secretary serves at the pleasure of the President. The President could fire the Treasury Secretary at any time. Like a treasury in any organization, the U.S. Treasury is responsible for collecting revenues and paying expense ...
... secretary and the Senate must confirm him/her. Once confirmed, the Treasury Secretary serves at the pleasure of the President. The President could fire the Treasury Secretary at any time. Like a treasury in any organization, the U.S. Treasury is responsible for collecting revenues and paying expense ...
NBER WORKING PAPER SERIES TAXES, REGULATIONS, AND ASSET PRICES Ellen R. McGrattan
... equity held by non-tax-paying entities. The percentage of corporate equity held by these entities — namely pension funds, individual retirement accounts, and nonprofit organizations — increased from a few percent in 1962 to around 50 percent in 2000. In the early 1960s virtually no equity was held ...
... equity held by non-tax-paying entities. The percentage of corporate equity held by these entities — namely pension funds, individual retirement accounts, and nonprofit organizations — increased from a few percent in 1962 to around 50 percent in 2000. In the early 1960s virtually no equity was held ...
Equity Composition Hypothesis
... When FDI is sold, the market does not know whether it is sold because of liquidity shock or because of low productivity. Hence, the price direct investment must incur informational discount if sold before maturity. As a result, investors would tilt their investments towards FPI if they expect gr ...
... When FDI is sold, the market does not know whether it is sold because of liquidity shock or because of low productivity. Hence, the price direct investment must incur informational discount if sold before maturity. As a result, investors would tilt their investments towards FPI if they expect gr ...
Convergence Programme 2016 Update
... EUR 19 million enabled Poland to sign 4 agreements with financial institutions, which should generate funding worth EUR 658 million intended to support investment projects undertaken by small and medium-sized enterprises. It is estimated that more than 10,000 small and medium-sized enterprises and s ...
... EUR 19 million enabled Poland to sign 4 agreements with financial institutions, which should generate funding worth EUR 658 million intended to support investment projects undertaken by small and medium-sized enterprises. It is estimated that more than 10,000 small and medium-sized enterprises and s ...
Social Health Insurance - Institut für Volkswirtschaftslehre und
... older as a result of the low level of birth rates since the 1970s and/or the continuously increasing life expectancy. For some countries both is the case which is why this phenomenon is sometimes referred to as the double-ageing process. While most of the political discussions addressing this fact p ...
... older as a result of the low level of birth rates since the 1970s and/or the continuously increasing life expectancy. For some countries both is the case which is why this phenomenon is sometimes referred to as the double-ageing process. While most of the political discussions addressing this fact p ...
Fixed exchange rates
... Under a fixed exchange rate system no individual country can change its interest rate if the other countries do not change theirs as well Two possible arrangements: i) all the member countries coordinate changes in their interest rates ii) one country takes the lead and the other follow ...
... Under a fixed exchange rate system no individual country can change its interest rate if the other countries do not change theirs as well Two possible arrangements: i) all the member countries coordinate changes in their interest rates ii) one country takes the lead and the other follow ...
capbudgeting_leverage_old
... AVCO decreases its debt according to the schedule provided here. Thus, one year later, it must decrease debt by 30.62 – 23.71 or 6.91 ...
... AVCO decreases its debt according to the schedule provided here. Thus, one year later, it must decrease debt by 30.62 – 23.71 or 6.91 ...
Paying Taxes 2016 Ten years of in-depth analysis on tax
... A second policy lever is to shift the burden of tax to other areas of the economy. The three other main revenue-generating areas for government, as Chart 1 shows, are taxes on profits, spending and property. Environmental taxes represent an additional source of revenue which governments can tap. In ...
... A second policy lever is to shift the burden of tax to other areas of the economy. The three other main revenue-generating areas for government, as Chart 1 shows, are taxes on profits, spending and property. Environmental taxes represent an additional source of revenue which governments can tap. In ...
Fiscal Policy and Ricardian Equivalence
... In round 1, government spending goes up by 1 With no Ricardian equivalence, this generates 1 of income, which generates MPC of extra consumption in round 2. This extra MPC of consumption in round 2 generates MPC extra income, which generates MPC 2 of extra consumption in round 3, and so on: ...
... In round 1, government spending goes up by 1 With no Ricardian equivalence, this generates 1 of income, which generates MPC of extra consumption in round 2. This extra MPC of consumption in round 2 generates MPC extra income, which generates MPC 2 of extra consumption in round 3, and so on: ...
1 - Whitman People
... level to increase. Therefore, there will be no price surprise and no change in the level of output. (b) If the government unexpectedly increases government spending, there will be a positive price surprise and firms will incorrectly believe that the price of their output has risen relative to other ...
... level to increase. Therefore, there will be no price surprise and no change in the level of output. (b) If the government unexpectedly increases government spending, there will be a positive price surprise and firms will incorrectly believe that the price of their output has risen relative to other ...
Capital Budgeting Processes And Techniques
... an investment’s cash flow projections may be stated in real terms. Real cash flows only reflect current prices and do not incorporate upward adjustments for expected inflation. Inflation Rule 2 — When project cash flows are stated in real rather than in nominal terms, the appropriate discount ra ...
... an investment’s cash flow projections may be stated in real terms. Real cash flows only reflect current prices and do not incorporate upward adjustments for expected inflation. Inflation Rule 2 — When project cash flows are stated in real rather than in nominal terms, the appropriate discount ra ...
IS JAPAN ‘BACK’? 2013 th
... has fallen consistently since the onset of deflation and is now negative A rise in investment is actually a ‘good thing’ when your starting point is capital consumption (let’s glide over the data quality complications…) Raising dividends would also be a ‘good thing’ for profits because it would incr ...
... has fallen consistently since the onset of deflation and is now negative A rise in investment is actually a ‘good thing’ when your starting point is capital consumption (let’s glide over the data quality complications…) Raising dividends would also be a ‘good thing’ for profits because it would incr ...
Overall effect: Y
... "Fiscal policy is more effective when the interest sensitivity of money demand is lower." False. If money demand is totally independent of interest rates, the LM-curve is vertical. This is the classical case. A change in government spending has no effect on output, since there is complete crowding o ...
... "Fiscal policy is more effective when the interest sensitivity of money demand is lower." False. If money demand is totally independent of interest rates, the LM-curve is vertical. This is the classical case. A change in government spending has no effect on output, since there is complete crowding o ...
fiscal policy strategy statement
... telecommunication networks, major ports or airports etc.). Since the Central Government does not own these assets, the resources transferred even for creation of physical infrastructure are shown as revenue expenditure. 13. In the present Act, when it is mandatory to eliminate revenue deficit, the p ...
... telecommunication networks, major ports or airports etc.). Since the Central Government does not own these assets, the resources transferred even for creation of physical infrastructure are shown as revenue expenditure. 13. In the present Act, when it is mandatory to eliminate revenue deficit, the p ...
Consumer Spending in China: The Past and the Future
... to the one-child policy) and fast urbanization. After 2000, however, the consumption share declined by more than would be expected from the country’s demographic and urbanization trends alone. This discrepancy is likely due to rapidly rising housing prices since the early 2000s, which increased hous ...
... to the one-child policy) and fast urbanization. After 2000, however, the consumption share declined by more than would be expected from the country’s demographic and urbanization trends alone. This discrepancy is likely due to rapidly rising housing prices since the early 2000s, which increased hous ...
Stock market performance and pension fund investment policy
... holdings surfaced after the collapse of the stock market in 2000-2002, which resulted in large losses for pension funds. In reaction, pension benefits were curtailed and contributions steeply increased. This episode raised a debate on the investment strategies of Dutch pension funds and, particularl ...
... holdings surfaced after the collapse of the stock market in 2000-2002, which resulted in large losses for pension funds. In reaction, pension benefits were curtailed and contributions steeply increased. This episode raised a debate on the investment strategies of Dutch pension funds and, particularl ...
rPFM(02-RAR)08
... the basis of expected return The use of expected reminds us that nothing is certain Actual return may be far from the expected value The mean return (see later) is an estimate of the expected return ...
... the basis of expected return The use of expected reminds us that nothing is certain Actual return may be far from the expected value The mean return (see later) is an estimate of the expected return ...