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on Public Finance |
| By: | Södersten, Jan (Department of Economics); Lindhe, Tobias (Uppsala Center for Fiscal Studies) |
| Abstract: | In an article in International Tax and Public Finance, Peter Birch Sørensen (2005) gives an in-depth account of the new Norwegian Shareholder Tax, which allows the shareholders a deduction for an imputed risk-free rate of return. Sørensen’s positive evaluation appears as reasonable for a closed economy where the deduction for the imputed return is capitalized into the market prices of corporate shares. We show that in a small open economy where no capitalization occurs, the Norwegian shareholder tax is likely to leave the distortions caused by the corporate income tax unaffected, and to add new distortions to shareholders’ portfolio decisions. |
| Keywords: | Tax neutrality; open economy; shareholder taxation; corporate-personal tax integration; small firms |
| JEL: | H24 H25 |
| Date: | 2011–04–28 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:uunewp:2011_006&r=pub |
| By: | Siqi Zheng; Matthew E. Kahn |
| Abstract: | In Beijing, the metropolitan government has made enormous place based investments to increase green space and to improve public transit. We examine the gentrification consequences of such public investments. Using unique geocoded real estate and restaurant data, we document that the construction of the Olympic Village and two recent major subway systems have led to increased new housing supply in the vicinity of these areas, higher local prices and an increased quantity of nearby private chain restaurants. |
| JEL: | H41 Q51 R41 |
| Date: | 2011–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:17002&r=pub |