The Dynamic Macroeconomic Effects of Tax Policy in an Overlapping Generations Model

Released on by Ms.Jenny Elisabeth Ligthart
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  • The Dynamic Macroeconomic Effects of Tax Policy in an Overlapping Generations Model Book Detail

  • Author : Ms.Jenny Elisabeth Ligthart
  • Release Date : 1998-12-01
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 30
  • ISBN 13 : 1451859244
  • File Size : 38,38 MB
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The Dynamic Macroeconomic Effects of Tax Policy in an Overlapping Generations Model by Ms.Jenny Elisabeth Ligthart PDF Summary

Book Description: The paper studies the dynamic allocation effects of tax policy in the context of an overlapping generations model of the Blanchard-Yaari type. The model is extended to allow for endogenous labor supply and three tax instruments: a capital income tax, labor income tax, and consumption tax. Analytical expressions and simple diagrams are used to discuss the impact, transition, and long-run effects of tax policy changes. It is shown that a part of the long-run incidence of capital and consumption taxes falls on capital when households’ horizons are finite, whereas labor would fully bear the burden of these taxes in an infinite horizon model.

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