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Sjögren, Tomas
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Aronsson, T. & Sjögren, T. (2017). Optimal Taxation, Redistribution, and Environmental Externalities. International Review of Environmental and Resource Economics, 11(3), 233-308
Öppna denna publikation i ny flik eller fönster >>Optimal Taxation, Redistribution, and Environmental Externalities
2017 (Engelska)Ingår i: International Review of Environmental and Resource Economics, ISSN 1932-1465, E-ISSN 1932-1473, Vol. 11, nr 3, s. 233-308Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

This paper surveys research on optimal redistributive taxation in economies with environmental externalities. A key question is whether externality correction only motivates an adjustment of the tax policy rule for the externality-generating activity, or whether the marginal value of the externality directly enters the policy rules for other tax instruments as well. In a static benchmark model with an atmospheric consumption externality, where the government uses a mix of a nonlinear income tax and linear commodity taxes, one can show that Sandmo's (1975) additivity property applies. This means that externality correction leads to an additional term (measuring the marginal value of the externality) in the commodity tax formula for the externality-generating good, while the policy rules for commodity taxation of clean goods and marginal income taxation take the same form as in the absence of any externality. We also extend this benchmark model to capture a number of scenarios (such as non-atmospheric externalities, border trade in the externality-generating good, and competition between governments in a multi-country framework), where the additivity property no longer applies. We end by examining an intertemporal model of optimal taxation with a stock-externality, allowing us to integrate the study of optimal redistributive taxation with literature on environmental economics and policy based on dynamic models.

Ort, förlag, år, upplaga, sidor
Now Publishers Inc., 2017
Nyckelord
Environmental externalities, optimal taxation, redistribution, income taxation, commodity taxation
Nationell ämneskategori
Nationalekonomi
Identifikatorer
urn:nbn:se:umu:diva-151804 (URN)10.1561/101.00000095 (DOI)000443208300002 ()
Forskningsfinansiär
Vetenskapsrådet, 2016-02371
Tillgänglig från: 2018-09-14 Skapad: 2018-09-14 Senast uppdaterad: 2018-09-14Bibliografiskt granskad
Aronsson, T. & Sjögren, T. (2016). Quasi-hyperbolic discounting, paternalism and optimal mixed taxation. Mathematical Social Sciences, 84, 24-36
Öppna denna publikation i ny flik eller fönster >>Quasi-hyperbolic discounting, paternalism and optimal mixed taxation
2016 (Engelska)Ingår i: Mathematical Social Sciences, ISSN 0165-4896, E-ISSN 1879-3118, Vol. 84, s. 24-36Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

This paper develops a dynamic model with endogenous labor supply, savings and health capital, where the consumers differ in ability as well as suffer from a self-control problem generated by quasi-hyperbolic discounting. The purpose is to analyze how a paternalistic government, which implements a time-consistent mix of labor income taxation, capital income taxation and commodity taxation, ought to use this tax system for purposes of redistribution and correction when individual ability is private information. Among the results, we show how the (nonlinear) income taxes ought to be used as indirect instruments for influencing the commodity demand behavior at the individual level: the intuition is that linear commodity taxes are not flexible enough to achieve proper incentives for consumption of unhealthy goods.

Ort, förlag, år, upplaga, sidor
Amsterdam: Elsevier, 2016
Nyckelord
present-biased preferences, income taxation, private goods, OLG model, individuals, commitment, provision, growth, taxes
Nationell ämneskategori
Nationalekonomi
Forskningsämne
nationalekonomi
Identifikatorer
urn:nbn:se:umu:diva-124569 (URN)10.1016/j.mathsocsci.2016.07.002 (DOI)000390085200003 ()
Forskningsfinansiär
Riksbankens Jubileumsfond
Tillgänglig från: 2016-08-16 Skapad: 2016-08-16 Senast uppdaterad: 2018-06-07Bibliografiskt granskad
Hellström, J., Liu, Y. & Sjögren, T. (2016). Stock exchange mergers and weak-form information efficiency: Evidence from the OMX Nordic and Baltic consolidation.
Öppna denna publikation i ny flik eller fönster >>Stock exchange mergers and weak-form information efficiency: Evidence from the OMX Nordic and Baltic consolidation
2016 (Engelska)Rapport (Övrigt vetenskapligt)
Abstract [en]

In this paper we study whether the creation of a uniform Nordic and Baltic stock trading platform has affected weak-form information efficiency. In the study, a time-varying measure of return predictability for individual stocks is used in a panel-data setting to test for stock market merger effects. The results indicate that the stock market consolidations have had a positive effect on the information efficiency and turnover for an average firm. The merger effects are, however, asymmetrically distributed which indicates a flight to liquidity effect in the sense that relatively large (small) firms located on relatively large (small) markets experience an improved (reduced) information efficiency and turnover. Although the results indicate that changes in the level of investor attention (measured by turnover) may explain part of the changes in information efficiency, they also lend support to the hypothesis that merger effects may partially be driven by changes in the composition of informed versus uninformed investors following a stock.

Förlag
s. 33
Serie
Umeå economic studies, ISSN 0348-1018 ; 923
Nyckelord
Time-varying return predictability, market structure
Nationell ämneskategori
Nationalekonomi
Forskningsämne
nationalekonomi
Identifikatorer
urn:nbn:se:umu:diva-119868 (URN)
Tillgänglig från: 2016-05-01 Skapad: 2016-05-01 Senast uppdaterad: 2018-06-07Bibliografiskt granskad
Mannberg, A. & Sjögren, T. (2015). Conflicting identities and social pressure: effects on the long-run evolution of female labour supply. Oxford Economic Papers, 67(2), 269-290
Öppna denna publikation i ny flik eller fönster >>Conflicting identities and social pressure: effects on the long-run evolution of female labour supply
2015 (Engelska)Ingår i: Oxford Economic Papers, ISSN 0030-7653, E-ISSN 1464-3812, Vol. 67, nr 2, s. 269-290Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

Drawing on psychological theories of social identity and cognitive dissonance, we develop a dynamic model for the evolution of female labour supply. We assume that agents, in addition to consumption and leisure, also derive utility from complying with social and personal norms such that deviations from norms induce psychological costs. An important contribution is that we allow for conflicting norms and we assume that the weight of these norms in the agent's utility is endogenous. We show that conflicting norm incentives may have long-run effects on labour supply: for example, the long-run effect of a wage increase on labour supply is reinforced if agents can adjust the weight attached to a given norm, and that women may be prevented from making a full transition from homemakers to breadwinners if such a transition make them outsiders in society.

Nationell ämneskategori
Nationalekonomi
Identifikatorer
urn:nbn:se:umu:diva-103221 (URN)10.1093/oep/gpu055 (DOI)000353504300006 ()
Tillgänglig från: 2015-05-19 Skapad: 2015-05-18 Senast uppdaterad: 2018-06-07Bibliografiskt granskad
Aronsson, T., Micheletto, L. & Sjögren, T. (2014). A Note on Public Goods in a Decentralized Fiscal Union: Implications of a Participation Constraint. Journal of Urban Economics, 84, 1-8
Öppna denna publikation i ny flik eller fönster >>A Note on Public Goods in a Decentralized Fiscal Union: Implications of a Participation Constraint
2014 (Engelska)Ingår i: Journal of Urban Economics, ISSN 0094-1190, E-ISSN 1095-9068, Vol. 84, s. 1-8Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

This paper re-examines the question of whether federal ex-post redistribution in terms of public funds leads to under-provision of public goods when member states may leave the economic federation. We show that federal ex-post redistribution under a binding participation constraint does not necessarily mean under-provision of local and federal public goods.

Ort, förlag, år, upplaga, sidor
Elsevier, 2014
Nyckelord
Public goods, Fiscal federalism, Ex-post redistribution, Participation constraint
Nationell ämneskategori
Nationalekonomi
Forskningsämne
nationalekonomi
Identifikatorer
urn:nbn:se:umu:diva-92080 (URN)10.1016/j.jue.2014.08.005 (DOI)000345200000001 ()
Forskningsfinansiär
Riksbankens Jubileumsfond, RS10-1319:1
Tillgänglig från: 2014-08-21 Skapad: 2014-08-21 Senast uppdaterad: 2018-06-07Bibliografiskt granskad
Aronsson, T., Persson, L. & Sjögren, T. (2014). Mixed Taxation and Transboundary Externalities: A Model with Large Jurisdictions. Public Finance Review, 42(2), 254-282
Öppna denna publikation i ny flik eller fönster >>Mixed Taxation and Transboundary Externalities: A Model with Large Jurisdictions
2014 (Engelska)Ingår i: Public Finance Review, ISSN 1091-1421, E-ISSN 1552-7530, Vol. 42, nr 2, s. 254-282Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

This paper concerns income taxation and commodity taxation in a multi-jurisdiction framework with transboundary environmental damage. The decision-problem facing the government in each such jurisdiction is represented by a two-type model (with asymmetric information between the government and the private sector). We show how the possibility to influence the world-market producer price adds mechanisms of relevance for redistribution and externality-correction which, in turn, affect the domestic use of taxation. Finally, with the noncooperative Nash equilibrium as a reference case, we consider the welfare effects of policy coordination.

Ort, förlag, år, upplaga, sidor
Sage Publications, 2014
Nyckelord
Trade and Environment, Optimal Taxation, Externalities
Nationell ämneskategori
Nationalekonomi
Forskningsämne
nationalekonomi
Identifikatorer
urn:nbn:se:umu:diva-72748 (URN)10.1177/1091142113487008 (DOI)2-s2.0-84893972805 (Scopus ID)
Forskningsfinansiär
FormasRiksbankens Jubileumsfond
Tillgänglig från: 2013-06-11 Skapad: 2013-06-11 Senast uppdaterad: 2018-06-08Bibliografiskt granskad
Backlund, K., Sjögren, T. & Stage, J. (2014). Optimal Tax and Expenditure Policy in the Presence of Emigration: Are Credit Restrictions Important?. Indian Growth and Development Review, 7(2), 98-117
Öppna denna publikation i ny flik eller fönster >>Optimal Tax and Expenditure Policy in the Presence of Emigration: Are Credit Restrictions Important?
2014 (Engelska)Ingår i: Indian Growth and Development Review, ISSN 1753-8254, E-ISSN 1753-8262, Vol. 7, nr 2, s. 98-117Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

Purpose - Empirical studies have found an 'inverted U-curve' relationship between emigration and per capita income. In this paper, a theoretical underpinning for this phenomenon is presented based on credit restrictions. The implications for tax policy are also analyzed.Design/methodology/approach - Using an intertemporal general equilibrium model, the authors characterize how the presence of an 'inverted U-curve' relationship between emigration and per capita income will influence the optimal tax and expenditure policy in a country where agents have the option to move abroad.Findings - Among the results it is shown that if age dependent taxes are available, the presence of an 'inverted U-curve' provides an incentive to tax young labor harder, but old labor less hard, than otherwise.

Ort, förlag, år, upplaga, sidor
Emerald Group Publishing Limited, 2014
Nyckelord
Optimal taxation, labor mobility, intertemporal consumer choice
Nationell ämneskategori
Nationalekonomi
Forskningsämne
nationalekonomi
Identifikatorer
urn:nbn:se:umu:diva-93196 (URN)10.1108/IGDR-09-2012-0040 (DOI)2-s2.0-84913599099 (Scopus ID)
Forskningsfinansiär
Jan Wallanders och Tom Hedelius stiftelse
Tillgänglig från: 2014-09-12 Skapad: 2014-09-12 Senast uppdaterad: 2018-06-07Bibliografiskt granskad
Aronsson, T. & Sjögren, T. (2014). Tax policy and present-biased preferences: paternalism under international capital mobility. Journal of Economic Behavior and Organization, 106(October), 298-316
Öppna denna publikation i ny flik eller fönster >>Tax policy and present-biased preferences: paternalism under international capital mobility
2014 (Engelska)Ingår i: Journal of Economic Behavior and Organization, ISSN 0167-2681, E-ISSN 1879-1751, Vol. 106, nr October, s. 298-316Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

This paper deals with tax-policy responses to quasi-hyperbolic discounting. Earlier research on optimal paternalism typically abstracts from capital mobility. If capital is mobile between countries, it may no longer be possible for national governments to control domestic savings via capital taxation (as in a closed economy). In this paper, we take a broad perspective on public policy responses to self-control problems by showing how these responses vary (i) between closed and open economies, (ii) between small open and large open economies, and (iii) depending on whether or not both source based and residence based capital taxes can be used.

Ort, förlag, år, upplaga, sidor
Elsevier, 2014
Nyckelord
quasi-hyperbolic discounting, capital mobility, source based taxation, residence based taxation, labor income taxation
Nationell ämneskategori
Nationalekonomi
Forskningsämne
nationalekonomi
Identifikatorer
urn:nbn:se:umu:diva-92071 (URN)10.1016/j.jebo.2014.06.007 (DOI)000343343100020 ()
Forskningsfinansiär
Riksbankens Jubileumsfond, RS10-1319:1
Tillgänglig från: 2014-08-21 Skapad: 2014-08-21 Senast uppdaterad: 2018-06-07Bibliografiskt granskad
Martinez, D. & Sjögren, T. (2013). Can Labor Market Imperfections Cause Overprovision of Public Inputs?. Journal of Economic Research, 18(2), 135-146
Öppna denna publikation i ny flik eller fönster >>Can Labor Market Imperfections Cause Overprovision of Public Inputs?
2013 (Engelska)Ingår i: Journal of Economic Research, Vol. 18, nr 2, s. 135-146Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

This paper concerns provision of productive public inputs in the presence of unemployment. It is shown that if the government is able to implement optimal taxes on labor income and profit income, respectively, then the public input will be underprovided. On the other hand, if the government is not able to implement an optimal tax on labor income, e.g. because the labor income tax is determined at another level in the public sector (e.g. the municipal or the state level), then overprovision may occur. We derive an equation which links overprovision of the public input to (i) the employment rate and to (ii) the deviation of the actual labor income tax from the optimal level.

Ort, förlag, år, upplaga, sidor
Journal of Economic Research, 2013
Nyckelord
Public Inputs, Trade Unions
Nationell ämneskategori
Nationalekonomi
Forskningsämne
nationalekonomi
Identifikatorer
urn:nbn:se:umu:diva-72749 (URN)
Forskningsfinansiär
Forte, Forskningsrådet för hälsa, arbetsliv och välfärdRiksbankens Jubileumsfond
Anmärkning

Även utgiven i serien: Umeå Economic Studies, Department of Economics, Umeå University, No 858.

Tillgänglig från: 2013-06-11 Skapad: 2013-06-11 Senast uppdaterad: 2018-06-08Bibliografiskt granskad
Hellström, J., Liu, Y. & Sjögren, T. (2013). Stock exchange mergers and return co-movement: A flexible dynamic component correlations model. Economics Letters, 121(3), 511-515
Öppna denna publikation i ny flik eller fönster >>Stock exchange mergers and return co-movement: A flexible dynamic component correlations model
2013 (Engelska)Ingår i: Economics Letters, ISSN 0165-1765, E-ISSN 1873-7374, Vol. 121, nr 3, s. 511-515Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

The creation of a common cross-border stock trading platform is found, by use of a Flexible Dynamic Component Correlations (FDCC) model, to have increased long-run trends in conditional correlations between foreign and domestic stock market returns.

Ort, förlag, år, upplaga, sidor
Elsevier, 2013
Nyckelord
Time-varying correlation, Long-run trend, Transitory component, C-GARCH
Nationell ämneskategori
Företagsekonomi Nationalekonomi
Forskningsämne
företagsekonomi; nationalekonomi
Identifikatorer
urn:nbn:se:umu:diva-81736 (URN)10.1016/j.econlet.2013.10.001 (DOI)000329145500038 ()
Tillgänglig från: 2013-10-21 Skapad: 2013-10-21 Senast uppdaterad: 2018-06-08Bibliografiskt granskad
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