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Optimal Taxation in a Life-Cycle Model

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  • Yvette Alvarez
  • John Burbidge
  • Ted Farrell
  • Leigh Palmer

Abstract

The authors extend Deaton's atemporal optimal commodity tax model to a life-cycle environment in which the individual may choose to work in many periods. The authors are able to confirm the Corlett-Hague intuition--goods that are more complementary with leisure should be taxed at higher rates. In addition, they prove that, in the microeconomic framework underlying some popular general-equilibrium models, if real wage and interest rates are constant over the life cycle, the addition of some interest taxation to a consumption tax regime would be welfare improving and that optimal labor tax rates decline with age. Coauthors are John Burbidge, Ted Farrell, and Leigh Palmer.

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Bibliographic Info

Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 25 (1992)
Issue (Month): 1 (February)
Pages: 111-22

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Handle: RePEc:cje:issued:v:25:y:1992:i:1:p:111-22

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Citations

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Cited by:
  1. Robin Boadway & David Wildasin, 1994. "Taxation and savings: a survey," Fiscal Studies, Institute for Fiscal Studies, vol. 15(3), pages 19-63, August.
  2. Papageorgiou, Yorgos Y. & Pines, David, 2000. "Externalities, Indivisibility, Nonreplicability, and Agglomeration," Journal of Urban Economics, Elsevier, vol. 48(3), pages 509-535, November.
  3. Gerhard Glomm & Juergen Jung, 2013. "The Timing of Redistribution," Southern Economic Journal, Southern Economic Association, vol. 80(1), pages 50-80, July.
  4. Cagri Seda Kumru & John Piggott, 2012. "Optimal Capital Income Taxation with Means-tested Benefits," Working Papers 201215, ARC Centre of Excellence in Population Ageing Research (CEPAR), Australian School of Business, University of New South Wales.
  5. J.B. Burbidge, 2001. "Awkward Moments in Teaching Public Finance," Department of Economics Working Papers 2001-01, McMaster University.
  6. Alok Johri & Bidyut Kumar Talukdar, 2011. "Organizational Capital and Optimal Ramsey Taxation," Department of Economics Working Papers 2011-09, McMaster University.
  7. Andres Erosa & Martin Gervais, 2001. "Optimal taxation in infinitely-lived agent and overlapping generations models : a review," Economic Quarterly, Federal Reserve Bank of Richmond, issue Spr, pages 23-44.
  8. Andres Erosa & Martin Gervais, 2000. "Optimal taxation in life-cycle economies," Working Paper 00-02, Federal Reserve Bank of Richmond.
  9. Panousi, Vasia, 2009. "Capital Taxation with Entrepreneurial Risk," MPRA Paper 24237, University Library of Munich, Germany.

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