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Three Essays on the Law and Economics of Taxation and Finance.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Three Essays on the Law and Economics of Taxation and Finance./
Author:	Fox, Edward Gellis.
Description:	1 online resource (236 pages)
Notes:	Source: Dissertation Abstracts International, Volume: 79-12(E), Section: A.
Contained By:	Dissertation Abstracts International79-12A(E).
Subject:	Economic theory. -
Online resource:	click for full text (PQDT)
ISBN:	9780438126794

Three Essays on the Law and Economics of Taxation and Finance.
Fox, Edward Gellis.

Three Essays on the Law and Economics of Taxation and Finance. - 1 online resource (236 pages)

Source: Dissertation Abstracts International, Volume: 79-12(E), Section: A.

Thesis (Ph.D.)--University of Michigan, 2018.

Includes bibliographical references

This dissertation empirically measures how the laws governing taxation and finance affect behavior and addresses how those laws should adapt to changing circumstances. The first chapter examines the effect of joint-taxation and "marriage bonuses" on marriage formation in the United States in the late 1940s and early 1950s. It uses a natural experiment to identify the effect and finds that tax incentives caused an increase in the marriage rate of up to 9%. The second chapter shows that idiosyncratic risk has spiked in every economic downturn since the 1920s and develops new models to explain this phenomenon. It then explores the implications of spikes in idiosyncratic risk for corporate and securities law. The third chapter compares the existing corporate tax to a hypothetical "cash flow tax" to determine how much of the corporate tax base is composed of the normal return to capital. It finds that the normal return to capital made up a relatively small percentage of the corporate tax base over the last 20 years. Because taxes on the normal return to capital are the most likely to be passed on to labor, this suggests that labor's long-run share of the corporate tax burden is likely to be lower than typically thought.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780438126794Subjects--Topical Terms:

809881
Economic theory.
Index Terms--Genre/Form:

554714
Electronic books.

Three Essays on the Law and Economics of Taxation and Finance.
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245 1 0 $a Three Essays on the Law and Economics of Taxation and Finance.
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300 $a 1 online resource (236 pages)
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500 $a Source: Dissertation Abstracts International, Volume: 79-12(E), Section: A.
500 $a Adviser: James R. Hines Jr.
502 $a Thesis (Ph.D.)--University of Michigan, 2018.
504 $a Includes bibliographical references
520 $a This dissertation empirically measures how the laws governing taxation and finance affect behavior and addresses how those laws should adapt to changing circumstances. The first chapter examines the effect of joint-taxation and "marriage bonuses" on marriage formation in the United States in the late 1940s and early 1950s. It uses a natural experiment to identify the effect and finds that tax incentives caused an increase in the marriage rate of up to 9%. The second chapter shows that idiosyncratic risk has spiked in every economic downturn since the 1920s and develops new models to explain this phenomenon. It then explores the implications of spikes in idiosyncratic risk for corporate and securities law. The third chapter compares the existing corporate tax to a hypothetical "cash flow tax" to determine how much of the corporate tax base is composed of the normal return to capital. It finds that the normal return to capital made up a relatively small percentage of the corporate tax base over the last 20 years. Because taxes on the normal return to capital are the most likely to be passed on to labor, this suggests that labor's long-run share of the corporate tax burden is likely to be lower than typically thought.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Economic theory. $3 809881
650 4 $a Finance. $3 559073
655 7 $a Electronic books. $2 local $3 554714
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690 $a 0508
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a University of Michigan. $b Economics. $3 1179213
773 0 $t Dissertation Abstracts International $g 79-12A(E).
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