88 research outputs found

    Optimal Taxation with Home Production

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    Optimal taxes for Europe and the U.S. are derived in a realistically calibrated model in which agents buy consumption goods and services and use home capital and labor to produce household services. The optimal tax rate on services is substantially lower than the tax rate on goods. Specifically, the planner cannot tax home production directly and instead lowers the tax rate on market services to increase the relative price of home production. The optimal tax rate on the return to home capital is strictly positive and the welfare gains from switching to optimal taxes are large

    Competing with the Dragon: Employment and Wage Effects of Chinese Trade Competition in 17 Sectors Across 18 OECD Countries

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    The rapid rise of China on the global economic stage could have substantial and unequal employment and wage effects in advanced industrialised democracies given China's large volume of low-wage labour. Thus far, these effects have not been analysed in the comparative political economy literature. Building on new pooled time-series data, we analyse the effects of Chinese trade competition across 17 sectors in 18 countries between 1990 and 2007. Our empirical findings reveal overall employment declines and higher earnings inequality in sectors more exposed to Chinese imports. We devote particular attention to a new channel, increased competition from China in 59 foreign export markets, which positively affects the high-skilled whilst the low-skilled bear the brunt. Hence, this study shows that neglecting the competition in foreign countries leads to underestimation of the distributive effects of trade. More generally, our findings provide new insights into how international trade, technological change, and labour market institutions contribute to the widely observed trend of rising inequality

    Taxation, Innovation, and Entrepreneurship

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    We examine how basic research should be financed. While basic research is a public good benefiting innovating entrepreneurs it also affects the entire economy: occupational choices of potential entrepreneurs, wages of workers, dividends to shareholders, and aggregate output. We show that the general economy impact of basic research rationalizes a pecking order of taxation to finance basic research. In particular, in a society with desirable dense entrepreneurial activity, a large share of funds for basic research should be financed by labor taxation and a minor share is left to profit taxation. Such tax schemes induce a significant share of agents to become entrepreneurs, thereby rationalizing substantial investments in basic research. These entrepreneurial economies, however, may make a majority of citizens worse off if those individuals do not possess shares of final good producers in the economy. In such circumstances, stagnation may prevail

    U-Values of Flat and Domed Skylights U-Values of Flat and Domed Skylights

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    ABSTRACT Data from nighttime measurements of the net heat flow through several types of skylights is presented. A well-known thermal test facility was reconfigured to measure the net heat flow through the bottom of a skylight/light well combination. Use of this data to determine the U-factor of the skylight is considerably more complicated than the analogous problem of a vertical fenestration contained in a test mask. Correction of the data for heat flow through the skylight well surfaces and evidence for the nature of the heat transfer between the skylight and the bottom of the well is discussed. The resulting measured U-values are presented and compared with calculations using the WINDOW4 and THERM programs

    U-Values of Flat and Domed Skylights U-Values of Flat and Domed Skylights

    No full text
    ABSTRACT Data from nighttime measurements of the net heat flow through several types of skylights is presented. A well-known thermal test facility was reconfigured to measure the net heat flow through the bottom of a skylight/light well combination. Use of this data to determine the U-factor of the skylight is considerably more complicated than the analogous problem of a vertical fenestration contained in a test mask. Correction of the data for heat flow through the skylight well surfaces and evidence for the nature of the heat transfer between the skylight and the bottom of the well is discussed. The resulting measured U-values are presented and compared with calculations using the WINDOW4 and THERM programs
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