Algorithm calculates incomes for Chilean pass-through entities.
problem Computing incomes for Chilean pass-through entities with complex networks.
method Markov chains and decomposition algorithm.
result There is a unique way to distribute incomes to taxpayers.
Develops a method to optimize tax codes with practical constraints.
problem Translating optimal taxation theory into practical tax codes.
method Constrained optimization framework for piecewise linear tax functions.
result Generates reforms that meet theoretical and practical constraints.
This review examines TDFs in Chile's pension reform, recommending dynamic glide paths and diversified benchmarks.
problem Chile's pension system needs to adapt to modern investment strategies.
method Comprehensive review of TDFs, highlighting challenges and opportunities for Chilean regulators and fund managers.
result Dynamic glide paths and diversified benchmarks are recommended for better retirement outcomes.
We present a broad agenda for meaningful banking regulation reform aiming the creation of evolutive competitive environment to maximize the effectiveness of international financial system through the introduction of fair competition process among the banks in free market capitalism. We assume that the international fin…
A declining CVaR glidepath framework for TDF design with Chilean pension system application
problem Designing Target-Date Funds around an explicit return objective while controlling risk
method Propose a framework for designing TDFs with a declining CVaR constraint
result Key feature: conservative evaluation of each glidepath
Deep learning model classifies Chilean banknotes.
problem Automatic bill classification for applications like counting.
method Introduced data augmentation techniques for limited samples.
result Successfully classified Chilean banknotes with positive results.
Paper uses cross-sectional data to estimate VSL, reducing confidence intervals by a factor of 3.
problem Estimating VSL with cross-sectional data using Garen's IV approach.
method Garen's instrumental variable (IV) approach, proxy for risk attitude.
result Confidence intervals reduced by a factor of 3 using proxy.
Bangladesh's banking sector improved through financial reforms, but challenges remain.
problem Weak asset quality, inadequate provisioning, and negative capitalization of state-owned banks.
method Two phases of reforms: private ownership promotion and gradual deregulation.
result Significant improvements in asset quality and capitalization, but challenges persist.
Paper examines trade/no trade patterns in illiquid stocks, highlighting effects of varying zero returns probabilities.
problem Detecting long-run trade/no trade effects in illiquid stocks with varying zero returns probabilities.
method Proposes a framework considering constant and time-varying zero returns probabilities, analyzing trade/no trade categorical sequences.
result Long-run trade/no trade effects may be spuriously detected in presence of non-constant zero returns probabilities.
LLMs can identify tax strategies, potentially revolutionizing tax enforcement.
problem Detecting and analyzing U.S. tax-minimization strategies.
method Evaluated advanced LLMs on interpreting, verifying, and generating tax strategies.
result Identified a novel tax strategy, showing LLMs' potential in tax enforcement.
Flow taxes and stock taxes preserve portfolio neutrality under specific conditions.
problem Analyzing the impact of different types of taxes on portfolio choice.
method Extending the neutrality result to a full system of ownership taxes, showing how each tax modifies the drift of the wealth process.
result The combined system of taxes preserves portfolio neutrality under three conditions, and the drift-shift symmetry generalizes to a drift-shift-and-rescale symmetry.
Unified treatment of two tax models showing their equivalence.
problem Representing loss-carry-forward taxation on insurance company capital.
method Introduced latent and natural tax processes, showing their equivalence and solving the natural tax process's existence and uniqueness.
result Unified treatment of tax processes, translating results from one model to the other.
Proposes a fix for IRS calculation of Obamacare tax credits.
problem IRS iteration leads to divergent sequences for some self-employed taxpayers.
method Introduces a bisection procedure to calculate premium tax credits.
result Bisection procedure works for simple tax returns and those receiving credits in advance.
Model shows IRS procedure for health insurance tax credits can diverge, proposing a new bisection method.
problem IRS procedure for calculating health insurance tax credits diverges for some self-employed taxpayers.
method Proposed a bisection procedure to calculate appropriate premium tax credits for tax returns.
result The bisection procedure can calculate appropriate premium tax credits for a model of simple tax returns.
Paper uses 2-step Gradient Boosting to predict VAT tax gap.
problem Estimating tax evasion and revenue loss from tax avoidance.
method 2-steps Gradient Boosting model to correct selection bias.
result Significantly improved prediction of VAT tax gap.
Paper proposes trading strategies considering stock taxes for better returns.
problem Trading strategies without tax consideration can lead to significant loss.
method Used deep reinforcement learning to learn optimal trading strategies with and without taxes.
result Tax ignorance can cause more than 62% loss in average portfolio returns.
Study fills the Italian pension gap with an optimal investment strategy.
problem Italian pension system reform gap between old and new pensions.
method Stochastic Optimal Control approach to fill the pension gap.
result It is possible to cover the pension gap with additional income from a pension scheme.
Germany's tax admin costs likely exceed 20% of total revenue, requiring system improvement.
problem High tax administrative costs in Germany and other jurisdictions.
method Statistical data, surveys, and a novel approach to measure total administrative cost as a percentage of total tax revenue.
result Germany's 2021 tax administrative costs likely exceeded 20% of total tax revenue.
Model shows who pays higher taxes affects wealth distribution.
problem Determining who should pay higher taxes to prevent wealth concentration.
method Dynamic agent model with random wealth multiplicative process and linear tax rate.
result Tax rate structure affects long-term wealth distribution.
Research analyzes Georgia's tax system and suggests improvements.
problem Improving tax revenues in Georgia's state budget.
method Analysis of past and present tax systems, review of influencing factors, comparison of foreign models.
result Stimulating measures can increase tax revenues for Georgia's state budget.
Study finds tax avoidance and IT issues hinder revenue in Gombe state.
problem Problems of personal income tax on revenue generation in Gombe state.
method Survey with primary and secondary data, chi square test.
result Tax avoidance and IT issues are major problems.
I explain the root of persistent failure of efforts to remove tax-induced distortions of economic incentives. It lies in FUNDAMENTAL IMPOSSIBILITY of objectively evaluating tax base. Distortions can be entirely avoided in the sector of publicly traded corporations. Evaluation can be bypassed by taxing it in shares (to …
The Tobin tax is an often discussed method to tame speculation and get a source of income. The discussion is especially heated when the financial markets are in crisis. In this article we refer to foreign exchange markets. The Tobin tax should be a small international tax affecting all currency transactions and thus co…
Study identifies vulnerable jurisdictions in tax networks to prevent treaty abuse.
problem Unexpected tax results due to global economic integration.
method Produced weighted graphs, computed centralities, and detected communities based on withholding tax rates.
result Identified jurisdictions likely to be used for treaty shopping and detected community structures.
Paper analyzes how interest rates and population growth affect housing prices in China.
problem Effects of interest rate and population growth shocks on housing prices in China.
method Developed a model integrating Lastrapes (2002) and Mankiw & Weil (1989) to simulate housing tax policies.
result Housing tax policies should be tailored to the type of shock affecting housing prices.
AI-driven tax policies improve economic equality and productivity.
problem Lack of appropriate economic data and limited opportunity to experiment.
method Two-level deep reinforcement learning approach to learn dynamic tax policies from observational data.
result AI-driven tax policies improve the trade-off between equality and productivity by 16%.
Study risk-minimizing insurance investments with taxes and expenses.
problem Determining optimal insurance investments in the presence of taxes and expenses.
method Introduced tax- and expense-modified risk-minimization, derived strategies, linked to decompositions, and established equivalence to artificial market approach.
result Equivalence to artificial market approach and consistency with classic risk-minimization.
Extends wealth tax neutrality framework to stochastic volatility and non-homothetic preferences.
problem Ensuring wealth taxes are neutral under various economic conditions.
method Extended Frøseth's neutrality framework to stochastic volatility and non-homothetic preferences, identified four channels of non-neutrality, and applied the framework to global minimum wealth taxes.
result Non-uniform assessment, general equilibrium effects, progressive thresholds, and endogenous labour supply can cause non-neutrality under CRRA preferences.
We develop a model of tax evasion based on the Ising model. We augment the model using an appropriate enforcement mechanism that may allow policy makers to curb tax evasion. With a certain probability tax evaders are subject to an audit. If they get caught they behave honestly for a certain number of periods. Simulatin…
This article describes and explores taxes and debt in finance. Here a situation is thought about, where tax payments would qualify to be considered as debt. Using this principle we can infer that it is possible to create and price a type of bond (Tax Normalization Guarantee) for companies, which would allow them to ent…
Tool detects tax evasion on social media using multi-modal deep learning.
problem Detecting tax evasion on social media platforms.
method Developed a multi-modal deep neural network combining comments, hashtags, and images.
result Multi-modal deep neural network achieved AUC of 0.808 and F1 score of 0.762.
Wealth redistribution through Fokker-Planck equation controls preserves Gini coefficient.
problem Preserving Gini coefficient through proportional wealth tax.
method Formulating optimal redistribution as a control problem for Fokker-Planck equation.
result Progressive taxes redistribute within policy-relevant timescales.
Mamba outperforms Reformer in minute-level stock prediction using LLM sentiment scores.
problem Improving minute-level stock market prediction accuracy in volatile markets.
method Combining sentiment scores from top LLMs with stock price data, training Mamba and Reformer models.
result Mamba achieved lower error rates across all tested LLMs, especially with LLaMA 3.3--70B.
Optimizes tax payments for insurance companies using Lévy risk processes.
problem Maximizing expected accumulated discounted tax payments with a modified objective function.
method Loss-carry-forward tax system applied to spectrally negative Lévy processes until general draw-down time.
result Optimal tax return function and strategy derived.
We investigate an inhomogeneous Ising model in the context of tax evasion dynamics where different types of agents are parametrized via local temperatures and magnetic fields. In particular, we analyse the impact of backauditing and endogenously determined penalty rates on tax compliance. Both features contribute to a …
Wealth tax equivalent to government stake, affecting returns and portfolio choice.
problem Effect of proportional wealth tax on asset returns and portfolio choice.
method Analyzes the economic equivalence and multiplicative separability of wealth tax, deriving four main results.
result The coefficient of variation of wealth is invariant to the tax rate, and optimal portfolio weights are independent of the tax rate.
This paper investigates - on the basis of the Cont-Bouchaud model - whether a Tobin tax can stabilize foreign exchange markets. Compared to earlier studies, this paper explicitly recognizes that a transaction tax-induced reduction in market depth may increase the price responsiveness of a given order. We find that the …
Study on tax administration issues and their impact on Georgia's budget revenues.
problem Problems in revenue administration and tax rates in Georgia.
method Analyzed foreign experience and proposed a progressive tax system.
result A progressive tax system would benefit Georgia's business and economy.
Reformer improves Transformer efficiency for long sequences.
problem Prohibitively costly training of large Transformer models.
method Locality-sensitive hashing for attention and reversible residual layers.
result Memory-efficient and faster performance on long sequences.
Tax effects on consumer behavior are ambiguous due to irrationality and limited willpower.
problem Ambiguity in tax effects on consumer behavior due to irrationality and limited willpower.
method Examined through behavioral and neuroeconomics, analyzing consumer behavior in real life.
result Tax effects on consumer behavior are ambiguous due to irrationality and limited willpower.
Model shows how social norms and individual ethics affect tax evasion.
problem Effects of social norms and individual ethics on tax evasion.
method Agent-based model with simulations of different tax compliance behaviors.
result Threshold levels in society composition explain tax evasion extent.
Optimizes pension mix of PAYGO, EET, and individual savings.
problem Balancing PAYGO, EET, and individual savings in funded pension schemes.
method Solves a Nash equilibrium between pension participants and government, considering age-dependent preferences and optimal asset allocation.
result Identifies critical ages and optimal contribution rates for maximizing overall utility.
Paper forecasts tax revenues in Bulgaria during pandemic.
problem Forecasting tax revenues during pandemic.
method Model based on IMF recommendations, using 1995-2019 data.
result Pandemic negatively impacts tax revenues, but econometrics can still produce forecasts.
Models analyze how different levels of tax evasion affect income distribution.
problem Effects of varying levels of tax evasion on income distribution.
method Microscopic models of economic interactions with a tax system and redistribution.
result Gini inequality index increases with higher evasion levels, but evasion spread does not significantly affect it.
New approach to optimal income tax theory tackles inequity issues.
problem Optimal tax schedules often lead to minimal tax rates for higher earners, contradicting ethical practices.
method Developed a theorem for piecewise-linear environment and introduced a new utility function parameter.
result New approach leads to more equitable tax schedules, interpreting optimality criteria easily.
Study examines how taxes affect wealth inequality in economic models.
problem Reducing economic inequality in models of economic activity.
method Examined Artificial Chemistry models and various tax measures.
result Effective tax measures can reduce economic inequality.
Georgia's pension reform affects individual welfare.
problem Optimizing pension systems to ensure old age welfare and reduce budgetary pressure.
method Historical analysis, comparative international experience, and assessment of investment potential.
result Challenges and potential improvements of the mandatory funded pension system.
This paper explains tax policy for crypto assets in a rapidly evolving tech landscape.
problem Rapid technological changes in crypto assets create regulatory and tax policy blind spots.
method Explains principles of crypto assets, their technology, and tax issues.
result Tax policies are lagging behind innovation in blockchain and crypto.