The Dynamic Macroeconomic Effects of Tax Policy in an Overlapping Generations Model
AbstractThe paper studies the dynamic allocation effects of tax policy within the context of an overlapping-generations model of the Blanchard-Yaari type. The model is extended to allow for endogenous labour supply and three tax instruments, viz. a capital tax, labour income tax, and consumption tax. Both analytical expressions and simple diagrams are used to analyze 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 labour would fully bear the burden of these taxes in an infinite-horizon model. Copyright 2000 by Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Oxford Economic Papers.
Volume (Year): 52 (2000)
Issue (Month): 4 (October)
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Other versions of this item:
- Ligthart, J.E. & Heijdra, B.J., 2000. "The dynamic macroeconomic effects of tax policy in an overlapping generations model," Open Access publications from Tilburg University urn:nbn:nl:ui:12-141315, Tilburg University.
- Ben J. Heijdra & Johanna Elisabeth Ligthart, 1998. "The Dynamic Macroeconomic Effects of Tax Policy in an Overlapping Generations Model," IMF Working Papers 98/182, International Monetary Fund.
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