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Centre for the Microeconomic Analysis of Public Policy (CPP), 2015-2020
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The government has recently consulted on the structure of alcohol taxes. This consultation focuses on two issues: (i) the introduction of a new still cider and perry band that would increase the tax on products below 7.5% ABV, and (ii) the introduction of a new still wine band that would reduce the tax on products between 5.5% and 8.5% ABV. Here we summarise the main points from our response to the consultation.
15 June 2017
The government has recently consulted on the structure of alcohol taxes. This consultation focuses on two issues: (i) the introduction of a new still cider and perry band that would increase the tax on products below 7.5% ABV, and (ii) the introduction of a new still wine band that would reduce the tax on products between 5.5% and 8.5% ABV. In this Observation we summarise our main points from our response to the consultation.
15 June 2017
14 June 2017
We consider reforms that raise carbon prices faced by households and reduce the variation in carbon prices across gas and electricity use, improving the efficiency of emissions reduction.
14 June 2017
We examine the optimal auditing problem of a tax authority when taxpayers can choose both to evade and avoid. For a convex penalty function the incentive-compatibility constraints may bind for the richest taxpayer and at a positive level of both evasion and avoidance. The audit function is non-increasing in reported income, and is higher for progressive tax functions than for regressive tax functions. Higher marginal tax rates increase the incentives for non-compliance, overturning the well-known Yitzhaki paradox.
7 June 2017
We investigate whether different ages of first-time house buying lead to persistent differences in homeownership between cohorts.
9 September 2015
This presentation was given at the launch of the Insititute and Faculty of Actuaries' 'Intergenerational Fairness Bulletin - Retirement'
31 May 2017
Andrew Hood contributed an article to this bulletin titled 'The changing generosity of private pension provision and its differential effects across generations'
31 May 2017
We estimate marginal propensities to consume from wealth shocks for Italian households in the early part of the Great Recession. Large asset price shocks in 2008 underpin an IV estimator. A euro fall in risky financial wealth resulted in cuts in annual total (non‐durable) consumption of 8.5‐ 9 (5.5‐5.7) cents. There is evidence of effects on food spending. Responses of total and nondurable spending to changes in housing wealth are 0.2 to 0.3 cents/euro. Point estimates of the effect of the financial wealth shock are larger if the youngest and/or oldest households are excluded. Results indicate that responses to the wealth shock were stronger for those who became pessimistic about the stock market, and for those owners of risky assets who also held mortgage debt. Counterfactuals indicate financial wealth effects were important (relative to other factors) for consumption falls in Italy in 2007/08.
1 March 2017
This project relates the diverging wages of men and women over the life-cycle with gender differences in career patterns.
1 January 2016
This article about the potential impact of increases in the minimum wage was published in Prospect Magazine.
24 May 2017
This presentation was given at a meeting at the DWP in January 2017.
1 January 2017