A Wealth Tax on the Rich to Bring down Public Debt?: Revenue and Distributional Effects of a Capital Levy

The idea of higher wealth taxes to finance the mounting public debt in the wake of the financial crises is gaining ground in several OECD countries. We evaluate the revenue and distributional effects of a one-time capital levy on personal net wealth that is currently on the German political agenda. We use survey data from the German Socio-Economic Panel (SOEP) and estimate the net wealth distribution at the very top, based on publicly available information about very rich Germans. Since net wealth is strongly concentrated, the capital levy could raise substantial revenue, even if relatively high personal allowances are granted. We also analyze the compliance and administrative costs of the capital levy.Capital levy, wealth distribution, microsimulation

A Wealth Tax on the Rich to Bring down Public Debt?: Revenue and Distributional Effects of a Capital Levy

The idea of higher wealth taxes to finance the mounting public debt in the wake of the financial crises is gaining ground in several OECD countries. We evaluate the revenue and distributional effects of a one-time capital levy on personal net wealth that is currently on the German political agenda. We use survey data from the German Socio-Economic Panel (SOEP) and estimate the net wealth distribution at the very top, based on publicly available information about very rich Germans. Since net wealth is strongly concentrated, the capital levy could raise substantial revenue, even if relatively high personal allowances are granted. We also analyze the compliance and administrative costs of the capital levy.Capital levy, wealth distribution, microsimulation

Evidence from repeated cross-section data for Germany

The life-cycle hypothesis implies that consumption would not decline at retirement. However, several studies found relevant declines in food consumption after retirement for the United States. Others concluded that this contradiction of the life-cycle hypothesis is solved by allowing for broader measures of consumption than food. Using repeated crosssection data for Germany, this paper analyzes the retirement consumption puzzle for the German case. For our broadest consumption measure, which includes the flow of durables’ consumption, we find, on average, no significant consumption decline at retirement. This also holds if the potential endogeneity of indidual retirement is controlled for in instrumental variable regressions. We also find heterogeneity in retirement effects among birth cohorts, the level of household wealth, and the level of consumption, but these effects do not support the hypothesis that retirement is associated with a strong reduction of consumption among poorer households

Influence of electrically conductive adhesive amount on shear strength of glued joints

This paper deals with the influence of electrically conductive adhesive amount on shear strength of joints glued by EPO-TEK® H20S and MG 8331S. These joints were made by gluing of chip resistors 1206, 0805 and 0603 with two curing profiles for each adhesive. The different thickness of stencils and reductions of the hole in stencils were used. These differences have an effect on the amount of conductive adhesives on the samples. The curing profiles and various amounts of the adhesives have an effect on the mechanical strength of the joint. Samples were measured after curing process by using shear strength test with the device LabTest 3.030

La mort silencieuse du vératre blanc

Aucun vératre blanc n’a fleuri cette année en Suisse

A solution to Darwin’s dilemma of 1859 : Exceptional preservation in Salter’s material from the late Ediacaran Longmyndian Supergroup, England

Peer reviewedPostprin