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  • 1.
    Aronsson, Thomas
    et al.
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
    Johansson-Stenman, Olof
    Univ Gothenburg, Sch Business Econ & Law, Dept Econ, S-40530 Gothenburg, Sweden.
    Positional preferences in time and space: Optimal income taxation with dynamic social comparisons2014In: Journal of Economic Behavior and Organization, ISSN 0167-2681, E-ISSN 1879-1751, Vol. 101, p. 1-23Article in journal (Refereed)
    Abstract [en]

    This paper concerns optimal redistributive non-linear income taxation in an OLG model, where people care about their own consumption relative to (i) other people's current consumption, (ii) own past consumption, and (iii) other people's past consumption. We show that both (i) and (iii) affect the marginal income tax structure whereas (ii) does not. We also derive conditions under which atemporal and intertemporal consumption comparisons give rise to exactly the same tax policy responses. On the basis of the available empirical estimates, comparisons with other people's current and past consumption tend to substantially increase the optimal marginal labor income tax rates. Yet, such comparisons may either increase or decrease the optimal marginal capital income tax rates.

  • 2.
    Aronsson, Thomas
    et al.
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
    Mannberg, Andrea
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics. Tromsø University Business School, Tromsø, Norway.
    Relative consumption of housing: marginal saving subsidies and income taxes as a second-best policy?2015In: Journal of Economic Behavior and Organization, ISSN 0167-2681, E-ISSN 1879-1751, Vol. 116, p. 439-450Article in journal (Refereed)
    Abstract [en]

    This paper analyzes whether marginal taxation of labor and capital income are useful second best instruments for internalizing the externalities caused by conspicuous housing consumption, when the government is unable to implement a first best corrective tax on housing wealth. The rationale for studying income taxation in this particular context is that first best taxes on housing wealth may be infeasible (at least in a shorter time perspective), while income taxes indirectly affect both the level and composition of accumulated wealth. We show that a suboptimally low tax on housing wealth provides an incentive for the government to subsidize financial saving and tax labor income at the margin.

  • 3.
    Aronsson, Thomas
    et al.
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
    Sjögren, Tomas
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
    Tax policy and present-biased preferences: paternalism under international capital mobility2014In: Journal of Economic Behavior and Organization, ISSN 0167-2681, E-ISSN 1879-1751, Vol. 106, no October, p. 298-316Article in journal (Refereed)
    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.

  • 4. Berge, Lars Ivar Oppedal
    et al.
    Juniwaty, Kartika Sari
    Umeå University, Faculty of Social Sciences, Department of Geography and Economic History. NHH Norwegian School of Economics, Helleveien 30, 5045 Bergen, Norway; Center for International Forestry Research, Bogor 16115, Indonesia and Universitas Indonesia, Depok 16424, Indonesia.
    Sekei, Linda Helgesson
    Umeå University, Faculty of Social Sciences, Department of Geography and Economic History.
    Gender composition and group dynamics: Evidence from a laboratory experiment with microfinance clients2016In: Journal of Economic Behavior and Organization, ISSN 0167-2681, E-ISSN 1879-1751, Vol. 131, p. 1-20Article in journal (Refereed)
    Abstract [en]

    We investigate the effect of gender composition on the group dynamics of microfinance clients in Tanzania using a laboratory experiment. We focus on three dimensions: (i) the ability to collaborate on problem-solving, (ii) joint decision-making in risk taking, and (iii) the willingness to cooperate in a public-goods game. Our main finding is that female groups are better at collaborating in problem-solving than male and mixed groups, and are also more willing to take risks. However, in the public-goods game we find no robust evidence of female groups contributing more than male and mixed groups. Our findings suggest that one reason why female loan groups often have higher repayment rates than male and mixed groups may be that female groups are more able to collaborate and find common solutions to common challenges.

  • 5.
    Puu, Tönu
    Umeå University, Faculty of Social Sciences, Centre for Regional Science (CERUM).
    On the economics of increasing complexity: With some special focus on culture2010In: Journal of Economic Behavior and Organization, ISSN 0167-2681, E-ISSN 1879-1751, Vol. 75, no 1, p. 59-68Article in journal (Refereed)
    Abstract [en]

    This contribution seeks to find a setting in which evolution in terms of changing structure, rather than growth within a given structure, can be modelled. In particular the evolution of increasing complexity is focused. The setting chosen uses Lancasterian property space as an invariant in which the changing, emerging, and disappearing actual implements are property bundles. The aim is to produce a development tree like the Darwinian, and the tool used for modelling the branching bifurcations is catastrophe theory.

  • 6.
    Puu, Tönu
    Umeå University, Faculty of Social Sciences, Centre for Regional Science (CERUM).
    On the stability of Cournot equilibrium when the number of competitors increases2008In: Journal of Economic Behavior and Organization, ISSN 0167-2681, E-ISSN 1879-1751, Vol. 66, no 3–4, p. 445-456Article in journal (Refereed)
    Abstract [en]

    This article reconsiders whether the Cournot equilibrium really becomes a perfect competition equilibrium when the number of competitors goes to infinity. It has been questioned whether the equilibrium remains stable with an increasing number of firms. Contraindications were given for linear and for isoelastic demand functions. However, marginal costs were then taken as constant, which means adding more potentially infinite-sized firms. As we want to compare cases with few large firms to cases with many small firms, the model is tuned so as to incorporate capacity limits, decreasing with an increasing number of firms. Then destabilization is avoided.

  • 7.
    Puu, Tönu
    Umeå University, Faculty of Social Sciences, Centre for Regional Science (CERUM).
    On the Stability of Cournot Equilibrium when the Number of Competitors Increases2008In: Journal of Economic Behavior and Organization, ISSN 0167-2681, E-ISSN 1879-1751, Vol. 66, no 3-4, p. 445-456Article in journal (Refereed)
    Abstract [en]

    This article reconsiders whether the Cournot equilibrium really becomes a perfect competition equilibrium when the number of competitors goes to infinity. It has been questioned whether the equilibrium remains stable with an increasing number of firms. Contraindications were given for linear and for isoelastic demand functions. However, marginal costs were then taken as constant, which means adding more potentially infinite-sized firms. As we want to compare cases with few large firms to cases with many small firms, the model is tuned so as to incorporate capacity limits, decreasing with an increasing number of firms. Then destabilization is avoided.

  • 8.
    Puu, Tönu
    Umeå University, Faculty of Social Sciences, Department of Economics.
    The chaotic duopolists revisited1998In: Journal of Economic Behavior and Organization, ISSN 0167-2681, E-ISSN 1879-1751, Vol. 33, no 3-4, p. 385-394Article in journal (Other academic)
    Abstract [en]

    The adjustment process of three oligopolists is studied, under Cournot and Stackelberg action. It is demonstrated that with an iso-elastic demand function and constant marginal costs, the system can result in periodic or in chaotic behaviour. In particular, the case with two identical and one different oligopolists is focused, which turns into a virtual duopoly, though displaying a wider set of bifurcations than can occur in genuine duopoly.

  • 9.
    Puu, Tönu
    et al.
    Umeå University, Faculty of Social Sciences, Centre for Regional Science (CERUM).
    Gardini, Laura
    Department of Economics, University of Urbino, Italy.
    Sushko, Irina
    Institute of Mathematics, National Academy of Sciences of Ukraine, Kiev, Ukraine.
    A Hicksian multiplier-accelerator model with floor determined by capital stock2005In: Journal of Economic Behavior and Organization, ISSN 0167-2681, E-ISSN 1879-1751, Vol. 56, no 3, p. 331-348Article in journal (Refereed)
    Abstract [en]

    This article reconsiders the Hicksian multiplier-accelerator model with the “floor” related to the depreciation on actual capital stock. Through the introduction of the capital variable, a growth trend is created endogenously by the model itself, along with growth rate oscillations around it. The “ceiling” can be dispensed with altogether. As everything is growing in such a model, a variable transformation is introduced to focus relative dynamics of the income growth rate and the actual capital output ratio.

  • 10.
    Puu, Tönu
    et al.
    Umeå University, Faculty of Social Sciences, Centre for Regional Science (CERUM).
    Gardini, Laura
    Department of Economics, University of Urbino, Italy.
    Sushko, Irina
    Institute of Mathematics, National Academy of Sciences of Ukraine, Ukraine.
    A Hicksian multiplier-accelerator model with floor determined by capital stock2005In: Journal of Economic Behavior and Organization, ISSN 0167-2681, E-ISSN 1879-1751, Vol. 56, no 3, p. 331-348Article in journal (Refereed)
    Abstract [en]

    This article reconsiders the Hicksian multiplier-accelerator model with the “floor” related to the depreciation on actual capital stock. Through the introduction of the capital variable, a growth trend is created endogenously by the model itself, along with growth rate oscillations around it. The “ceiling” can be dispensed with altogether. As everything is growing in such a model, a variable transformation is introduced to focus relative dynamics of the income growth rate and the actual capital output ratio.

  • 11.
    Sushko, Iryna
    et al.
    Institute of Mathematics, National Academy of Sciences of Ukraine, and Kyiv School of Economics, Kiev, Ukraine.
    Gardini, Laura
    Department of Economics and Quantitative Methods, University of Urbino, Italy.
    Puu, Tönu
    Umeå University, Faculty of Social Sciences, Centre for Regional Science (CERUM).
    Regular and chaotic growth in a Hicksian Floor/ceiling model2010In: Journal of Economic Behavior and Organization, ISSN 0167-2681, E-ISSN 1879-1751, Vol. 75, no 1, p. 77-94Article in journal (Refereed)
    Abstract [en]

    In some previous papers the present authors reassembled the Hicksian trade cycle model in a new way. The floor was tied to depreciation on capital, itself the cumulative sum of past net investments, for which the principle of acceleration provided an explanation. Hence no alien elements were needed to include capital, and so close the system. The resulting model created a growth trend along with growth rate cycles, which could be periodic or quasiperiodic. In the current paper, the ceiling, using capital stock as a capacity limit for production, is added. It then turns out that pure growth no longer exists, and chaos and multistability become possible, which they were not in the previous model. A variety of bifurcation scenarios is explored, and a full understanding of the working of the four-piece, originally three-dimensional, piecewise smooth map, is attained, using a reduction to a one-dimensional return map.

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