Optimal overall emissions taxation in durable goods oligopoly

We analyze optimal second-best emission taxes in a durable good industry under imperfect competition. The analysis is performed for three different types of emissions and for situations where the good is rented, sold or simultaneously sold and rented. We show, for durable goods that may cause pollution in a period (or in periods) different from the production period, that the expected overall emission tax and the expected total marginal environmental damage per unit produced in each period are the relevant variables to consider in the analysis of overinternalization and in the comparison of optimal emission taxes for renting, selling and renting-selling firms. Our results allow to extend some previous results in the literature to these durable goods and provide an adequate perspective on some other results (in particular, we point out the limitations of focusing only, for those durable goods, on the level and effects of the optimal emission tax in the production period).

Income Taxation and Growth in an OLG Economy: Does Aggregate Uncertainty Play any Role?

We analyze the effects of capital income taxation on long-run growth in a stochastic, two-period overlapping generations economy. Endogenous growth is driven by a positive externality of physical capital in the production sector that makes firms exhibit an aggregate technology in equilibrium. We distinguish between capital income and labor income, and between attitudes towards risk and intertemporal substitution of consumption. We show necessary and sufficient conditions such that i) increments in the capital income taxation lead to higher equilibrium growth rates, and ii) the effect of changes in the capital income tax rate on the equilibrium growth may be of opposite signs in stochastic and in deterministic economies. Such a sign reversal is shown to be more likely depending on i) how the intertemporal elasticity of substitution compares to one, and ii) the size of second- period labor supply. Numerical simulations show that for reasonable values of the intertemporal elasticity of substitution, a sign reversal shows up only for implausibly high values of the second- period’s labor supply. The conclusion is that deterministic OLG economies are a good approximation of the effect of taxes on the equilibrium growth rate as in Smith (1996).

Progressive Decrease in the Potential Usefulness of Meningococcal Serogroup B Vaccine (4CMenB, Bexsero (R)) in Gipuzkoa, Northern Spain

The effectiveness of a vaccine is determined not only by the immunogenicity of its components, but especially by how widely it covers the disease-causing strains circulating in a given region. Because vaccine coverage varies over time, this study aimed to detect possible changes that could affect vaccine protection during a specific period in a southern European region. The 4CMenB vaccine is licensed for use in Europe, Canada, and Australia and is mainly directed against Neisseria meningitidis serogroup B. This vaccine contains four main immunogenic components: three recombinant proteins, FHbp, Nhba and NadA, and an outer membrane vesicle [PorA P1.4]. The allelic distribution of FHbp, Nhba, NadA, and PorA antigens in 82 invasive isolates (B and non-B serogroups) isolated from January 2008 to December 2013 were analyzed. 4CMenB was likely protective against 61.8% and 50% of serogroup B and non-B meningococci, respectively, in the entire period, but between 2012 and 2013, the predicted protection fell below 45% (42.1% for serogroup B isolates). The observed decreasing trend in the predicted protection during the 6 years of the study (X-2 for trend = 4.68, p=0.03) coincided with a progressive decrease of several clonal complexes (e. g., cc11, cc32 and cc41/44), which had one or more antigens against which the vaccine would offer protection.

Igualdad de sacrificio: una aplicación para el IRPF español

Es bien sabido que el Impuesto sobre la Renta de las Personas Físicas (IRPF) es un impuesto progresivo (aumenta la proporción a pagar cuando aumenta la renta). Aun así es importante saber si el esfuerzo o la pérdida de utilidad que asume cada individuo en el pago del impuesto es el mismo, es decir, si se cumple el principio de igualdad de sacrificio. En este trabajo se plantea si el impuesto sobre la renta en España cumplió este principio en los años 2006 y 2007, y si la reforma fiscal que hubo en estos años nos acercó o alejó de su cumplimiento. La respuesta es que, en líneas generales, sí se cumple, suponiendo esta reforma una mejora relevante para la consecución de este objetivo.

Incidencia redistributiva de la política fiscal en la República Dominicana, 2000-2014

[ES]El trabajo es un análisis de la incidencia de la política fiscal llevada a cabo en la República Dominicana a lo largo del periodo 2000-2014, orientado a evaluar la progresividad o regresividad del sistema tributario y el gasto público así como sus efectos en la distribución del ingreso de la población dominicana. Con objeto de evaluar la acción fiscal se compara la distribución del ingreso antes y después del pago de impuestos y de las actuaciones de gasto, utilizando los indicadores de medidas de desigualdad y concentración tales como el índice de Gini, Kakwani, Concentración y Reybolds-Smolensky. El estudio considera algunas propuestas de política fiscal para lograr una mejora en la distribución del ingreso disponible a partir de las actuaciones de gasto público y un sistema tributario más progresivo.

Optimal Taxation and Indeterminacy in the Uzawa-Lucas Model with Sector-specific Externalities

Documento de trabajo