Michael Smart

University of Toronto - Department of Economics

150 St. George Street

Institute for Policy Analysis

Toronto, Ontario M5S 3G7

Canada

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5

Munich, DE-81679

Germany

  • University of Toronto - Department of Economics

    • Email
    • Tel: 416-978-5119
    • Fax: 416-978-6713
SCHOLARLY PAPERS

37

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266

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Scholarly Papers (37)

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1.

In Praise of Tax Havens: International Tax Planning and Foreign Direct Investment

CESifo Working Paper Series No. 1942
Number of pages: 29 Posted: 28 Mar 2007
Qing Hong and Michael Smart
University of Toronto - Department of Economics and University of Toronto - Department of Economics
Downloads 1,168 (16,774)

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income shifting, tax planning, foreign direct investment, tax competition, thin capitalization

2.

On Limited Liability and the Development of Capital Markets: An Historical Analysis

Number of pages: 25 Posted: 09 Dec 1996
Michael Smart
University of Toronto - Department of Economics
Downloads 510 (53,012)

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3.

The Impact on Investment of Replacing a Retail Sales Tax by a Value-Added Tax: Evidence from Canadian Experience

Number of pages: 27 Posted: 29 Sep 2008
Michael Smart and Richard M. Bird
University of Toronto - Department of Economics and University of Toronto - Joseph L. Rotman School of Management
Downloads 372 (77,739)

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state taxes, sales tax, value-added tax, investment

4.

Income Shifting, Investment, and Tax Competition: Theory and Evidence from Provincial Taxation in Canada

CESifo Working Paper Series No. 554
Number of pages: 19 Posted: 11 Sep 2001
Jack Mintz and Michael Smart
University of Calgary - The School of Public Policy and University of Toronto - Department of Economics
Downloads 367 (79,007)

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5.

The Economic Incidence of Replacing a Retail Sales Tax by a Value-Added Tax: Evidence from Canadian Experience

Number of pages: 22 Posted: 29 Sep 2008 Last Revised: 03 Nov 2008
Michael Smart and Richard M. Bird
University of Toronto - Department of Economics and University of Toronto - Joseph L. Rotman School of Management
Downloads 318 (92,954)

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tax incidence, sales tax, value-added tax, Canada

6.

The Efficiency Consequences of Local Revenue Equalization: Tax Competition and Tax Distortions

CESifo Working Paper Series No. 767
Number of pages: 24 Posted: 27 Oct 2002
Sam Bucovetsky and Michael Smart
York University - Department of Economics and University of Toronto - Department of Economics
Downloads 283 (105,480)

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Tax Competition, Intergovernmental Grants

7.

Is Targeted Tax Competition Less Harmful than its Remedies?

CESifo Working Paper Series No. 590
Number of pages: 24 Posted: 20 Nov 2001
Eckhard Janeba and Michael Smart
University of Mannheim - Department of Economics and University of Toronto - Department of Economics
Downloads 280 (106,635)

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Preferential Taxation, Tax Competition, Multiple Tax Bases

8.

The Gst Cut and Fiscal Imbalance

Number of pages: 29 Posted: 13 Jul 2006
Michael Smart and Richard M. Bird
University of Toronto - Department of Economics and University of Toronto - Joseph L. Rotman School of Management
Downloads 278 (107,493)

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Canada, GST, fiscal imbalance, retail sales tax

9.

Regional Grants as Pork Barrel Politics

CESifo Working Paper Series No. 1453
Number of pages: 25 Posted: 26 Apr 2005
Kevin S. Milligan and Michael Smart
University of British Columbia (UBC) - Department of Economics and University of Toronto - Department of Economics
Downloads 269 (111,306)

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10.

Incentives for Public Investment Under Fiscal Rules

World Bank Policy Research Working Paper No. 3860
Number of pages: 32 Posted: 20 Apr 2016
Jack Mintz and Michael Smart
University of Calgary - The School of Public Policy and University of Toronto - Department of Economics
Downloads 239 (125,673)

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Public Sector Economics & Finance, Investment and Investment Climate, Economic Theory & Research, Public & Municipal Finance, Urban Economics

11.

VAT in a Federal System: Lessons from Canada

Downloads 218 (137,558)

VAT in a Federal System: Lessons from Canada

Rotman School of Management Working Paper No. 2115622
Number of pages: 29 Posted: 24 Jul 2012
Richard M. Bird and Michael Smart
University of Toronto - Joseph L. Rotman School of Management and University of Toronto - Department of Economics
Downloads 217 (137,817)

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VAT, GST, Canada, dual VAT

VAT in a Federal System: Lessons from Canada

Public Budgeting & Finance, Vol. 34, Issue 4, pp. 38-60, 2014
Number of pages: 23 Posted: 05 Dec 2014
Richard M. Bird and Michael Smart
University of Toronto - Joseph L. Rotman School of Management and University of Toronto - Department of Economics
Downloads 1 (670,599)
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12.

Term Limits and Electoral Accountability

Downloads 211 (141,957)

Term Limits and Electoral Accountability

LSE PSPE Working Paper No. 3
Number of pages: 30 Posted: 21 Dec 2007 Last Revised: 26 Dec 2007
Michael Smart and Daniel M. Sturm
University of Toronto - Department of Economics and Ludwig Maximilian University of Munich - Faculty of Economics
Downloads 172 (171,173)

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Term Limits and Electoral Accountability

CEPR Discussion Paper No. 4272
Number of pages: 42 Posted: 05 Apr 2004
Michael Smart and Daniel M. Sturm
University of Toronto - Department of Economics and Ludwig Maximilian University of Munich - Faculty of Economics
Downloads 39 (429,765)
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Political agency, accountability, term limits

13.

Study to Quantify and Analyse the VAT Gap in the EU-27 Member States

CASE Network Reports No. 116/2013
Number of pages: 168 Posted: 11 Dec 2013
Luca Barbone, Misha Belkindas, Leon Bettendorf, Richard M. Bird, Mikhail Bonch-Osmolovskiy and Michael Smart
CASE - Center for Economic and Social Research, CASE - Center for Social and Economic Research, CPB Netherlands Bureau of Economic Policy Analysis, University of Toronto - Joseph L. Rotman School of Management, CASE - Center for Social and Economic Research and University of Toronto - Department of Economics
Downloads 198 (150,542)

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Optimal Taxation, Efficiency, Incidence, Externalities, Redistributive Effects, Environmental Taxes and Subsidies, Personal Income and Other Nonbusiness Taxes and Subsidies, Business Taxes and Subsidies, Tax Evasion, Other Sources of Revenue, Other

14.

Assigning State Taxes in a Federal Country: The Case of Australia

Number of pages: 47 Posted: 18 Jul 2009 Last Revised: 21 Jul 2009
Richard M. Bird and Michael Smart
University of Toronto - Joseph L. Rotman School of Management and University of Toronto - Department of Economics
Downloads 171 (171,922)

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Australia, state taxes, intergovernmental transfers, fiscal federalism

15.

Taxing Consumption in Canada: Rates, Revenues, and Redistribution

Number of pages: 28 Posted: 15 Mar 2016
Richard M. Bird and Michael Smart
University of Toronto - Joseph L. Rotman School of Management and University of Toronto - Department of Economics
Downloads 135 (209,236)

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sales tax, excise tax, value-added tax, incidence, progressivity

16.

Earmarked Grants and Accountability in Government

Rotman School of Management Working Paper No. 1498775
Number of pages: 26 Posted: 03 Nov 2009
Richard M. Bird and Michael Smart
University of Toronto - Joseph L. Rotman School of Management and University of Toronto - Department of Economics
Downloads 134 (210,458)

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grants, grants, earmarking, accountability, fiscal federalism, intergovernmental transfers

17.

Departures from Neutrality in Canada's Goods and Services Tax

University of Calgary SPP Research Papers, Vol. 5, Issue 5, February 2012
Number of pages: 27 Posted: 29 Feb 2012
Michael Smart
University of Toronto - Department of Economics
Downloads 132 (213,123)

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tax, GST, value, added, consumption, policy, inefficiency, efficiency, rate, revenue, VAT, HST, Canada, system

18.

Limited Liability and the Development of Capital Markets

FRB of Cleveland Working Paper No. 07-03
Number of pages: 33 Posted: 19 Oct 2007
Ed Nosal and Michael Smart
Federal Reserve Banks - Federal Reserve Bank of Atlanta and University of Toronto - Department of Economics
Downloads 131 (214,400)

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limited liability, capital markets, risk, investment

19.

Raising Taxes through Equalization

Downloads 116 (234,983)

Raising Taxes through Equalization

CESifo Working Paper Series No. 1926
Number of pages: 28 Posted: 07 Mar 2007
Michael Smart
University of Toronto - Department of Economics
Downloads 97 (267,788)

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Raising Taxes through Equalization

Canadian Journal of Economics, Vol. 40, No. 4, pp. 1188-1212, November 2007
Number of pages: 25 Posted: 22 Oct 2007
Michael Smart
University of Toronto - Department of Economics
Downloads 19 (536,133)
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20.

Tax-Exempt Investors and the Asset Allocation Puzzle

CESifo Working Paper Series No. 242
Number of pages: 18 Posted: 19 Feb 2001
Jack Mintz and Michael Smart
University of Calgary - The School of Public Policy and University of Toronto - Department of Economics
Downloads 114 (237,936)

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21.

The Impact of Sales Tax Reform on Ontario Consumers: A First Look at the Evidence

SPP Research Paper No. 11-3
Number of pages: 23 Posted: 06 Sep 2011
Michael Smart
University of Toronto - Department of Economics
Downloads 112 (240,887)

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HST, Tax, Ontario, Consumer, GST

22.

Corporate Lobbying and Commitment Failure in Capital Taxation

CESifo Working Paper Series No. 676
Number of pages: 17 Posted: 22 Apr 2002
Nicolas Marceau and Michael Smart
Centre Interuniversitaire sur le Risque, les Politiques Economiques et l'Emploi (CIRPEE) and University of Toronto - Department of Economics
Downloads 102 (257,218)

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23.

Do Fiscal Transfers Alleviate Business Tax Competition? Evidence from Germany

CESifo Working Paper Series No. 1955
Number of pages: 41 Posted: 18 Apr 2007
Peter H. Egger, Marko Koethenbuerger and Michael Smart
Ifo Institute for Economic Research - International Trade and Foreign Direct Investment, ETH Zurich - Department of Management, Technology and Economics and University of Toronto - Department of Economics
Downloads 91 (277,060)

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equalization grants, tax competition, local public finance, fiscal capacity equalization

24.

The Structure and Presentation of Provincial Budgets

SPP Research Paper No. 8-25
Number of pages: 32 Posted: 06 Jun 2015
Bev Dahlby and Michael Smart
University of Calgary and University of Toronto - Department of Economics
Downloads 57 (359,436)

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public infrastructure,public infrastructure using debt,capital budgeting, provincial budgeting,infrastructure

25.

Tax Loss Utilization and Corporate Groups: A Policy Conundrum

SPP Research Paper No. 6-3
Number of pages: 26 Posted: 28 Mar 2013
Stephen Richardson and Michael Smart
University of Calgary - School of Public Policy and University of Toronto - Department of Economics
Downloads 54 (368,790)

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corporate, tax, Canada, investments, policy, system, business, law, transfer, income

26.

Fiscal Restraints and Voter Welfare

LSE STICERD Research Paper No. PEPP06
Number of pages: 32 Posted: 11 Jul 2008
Timothy J. Besley and Michael Smart
London School of Economics & Political Science (LSE) - Department of Economics and University of Toronto - Department of Economics
Downloads 51 (378,183)

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27.

Tax Credits and the Use of Medical Care

NBER Working Paper No. w9855
Number of pages: 37 Posted: 23 Jul 2003 Last Revised: 01 Apr 2005
Michael Smart and Mark Stabile
University of Toronto - Department of Economics and INSEAD
Downloads 36 (432,985)

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28.

Tax Policy Next to the Elephant: Business Tax Reform in the Wake of the US Tax Cuts and Jobs Act

C.D. Howe Institute Commentary 537
Number of pages: 36 Posted: 07 Apr 2019
Kenneth J. McKenzie and Michael Smart
University of Calgary - Department of Economics and University of Toronto - Department of Economics
Downloads 27 (473,727)

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Fiscal and Tax Policy; Business and Capital Taxation;International Competitiveness

29.

An Estimable Model of Income Redistribution in a Federation: Musgrave Meets Oates

CESifo Working Paper Series No. 7043
Number of pages: 32 Posted: 18 Jul 2018
Kevin S. Milligan and Michael Smart
University of British Columbia (UBC) - Department of Economics and University of Toronto - Department of Economics
Downloads 23 (495,257)

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taxation, redistribution, fiscal federalism

30.

Does Tax Competition Raise Voter Welfare?

CEPR Discussion Paper No. 3131
Number of pages: 30 Posted: 24 Jan 2002
Timothy J. Besley and Michael Smart
London School of Economics & Political Science (LSE) - Department of Economics and University of Toronto - Department of Economics
Downloads 18 (523,875)
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31.

Tax Credits, Insurance, and the Use of Medical Care

Canadian Journal of Economics, Vol. 38, No. 2, pp. 345-365, May 2005
Number of pages: 21 Posted: 01 Apr 2005
Michael Smart and Mark Stabile
University of Toronto - Department of Economics and INSEAD
Downloads 14 (547,033)
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32.

Taxation and Top Incomes in Canada

Downloads 8 (583,215)

Taxation and Top Incomes in Canada

NBER Working Paper No. w20489
Number of pages: 39 Posted: 15 Sep 2014
Kevin S. Milligan and Michael Smart
University of British Columbia (UBC) - Department of Economics and University of Toronto - Department of Economics
Downloads 8 (608,348)

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Taxation and Top Incomes in Canada

Canadian Journal of Economics/Revue canadienne d'économique, Vol. 48, Issue 2, pp. 655-681, 2015
Number of pages: 27 Posted: 18 Jan 2016
Kevin S. Milligan and Michael Smart
University of British Columbia (UBC) - Department of Economics and University of Toronto - Department of Economics
Downloads 0
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33.

Policy Forum: Business Tax Reform in the United States and Canada

Canadian Tax Journal/Revue fiscale canadienne, Vol. 67, No. 1, 2019
Number of pages: 10 Posted: 23 May 2019
Kenneth J. McKenzie and Michael Smart
University of Calgary - Department of Economics and University of Toronto - Department of Economics
Downloads 4 (608,861)

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tax reform, corporate taxes, investment, tax rates

34.

Finances of the Nation: Taxing Consumption in Canada: Rates, Revenues, and Redistribution

Canadian Tax Journal, 2016, Vol. 64, No. 2, p. 417, Rotman School of Management Working Paper No. 2909918
Posted: 02 Feb 2017
Richard M. Bird and Michael Smart
University of Toronto - Joseph L. Rotman School of Management and University of Toronto - Department of Economics

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sales taxes, excise taxes, rates, revenue, incidence, redistribution

35.

Reforming the Direct-Indirect Tax Mix

International Tax and Public Finance, Vol. 9, No. 2, pp. 143-155, March 2002
Posted: 30 May 2002
Michael Smart
University of Toronto - Department of Economics

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Uniform commodity taxation, tax reform, excess burden

36.

Competitive Insurance Markets with Two Unobservables

International Economic Review, Vol. 41, No. 1, February 2000
Posted: 20 Oct 2000
Michael Smart
University of Toronto - Department of Economics

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37.

Finances of the Nation: Taxation of Top Incomes in Canada—Recent Developments in Rates and Redistribution

Canadian Tax Journal/Revue fiscale canadienne, Vol. 67, No. 2, 2019, pp. 349-361
Number of pages: 14
Michael Smart
University of Toronto - Department of Economics
Downloads 0

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Tax rates, tax revenues, redistribution, equality