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

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  • Heijdra, Ben J
  • Ligthart, Jenny E

Abstract

The 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 Info

Article provided by Oxford University Press in its journal Oxford Economic Papers.

Volume (Year): 52 (2000)
Issue (Month): 4 (October)
Pages: 677-701

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Handle: RePEc:oup:oxecpp:v:52:y:2000:i:4:p:677-701

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Cited by:
  1. Heijdra, B.J. & Ligthart, J.E., 2004. "The Macroeconomic Dynamics of Demographic Shocks," Discussion Paper 2004-90, Tilburg University, Center for Economic Research.
  2. Heijdra, Ben J. & Kooiman, Jan Peter & Ligthart, Jenny E., 2006. "Environmental quality, the macroeconomy, and intergenerational distribution," Resource and Energy Economics, Elsevier, vol. 28(1), pages 74-104, January.
  3. Pautrel, Xavier, 2009. "Pollution and life expectancy: How environmental policy can promote growth," Ecological Economics, Elsevier, vol. 68(4), pages 1040-1051, February.
  4. Simone Valente, 2005. "Tax Policy and Human Capital Formation with Public Investment in Education," Journal of Economics, Springer, vol. 86(3), pages 229-258, December.
  5. Ganelli, Giovanni, 2007. "Fiscal policy rules in an overlapping generations model with endogenous labour supply," Journal of Economic Dynamics and Control, Elsevier, vol. 31(3), pages 1015-1036, March.
  6. Xavier Pautrel, 2009. "Environmental policy, education and growth: A reappraisal when lifetime is finite," Working Papers hal-00423201, HAL.
  7. repec:idb:brikps:4198 is not listed on IDEAS
  8. Ascari, Guido & Rankin, Neil, 2004. "Perpetual youth and endogenous labour supply: a problem and a possible solution," Working Paper Series 0346, European Central Bank.
  9. Mathieu-Bolh, Nathalie, 2010. "Welfare improving distributionally neutral tax reforms," Economic Modelling, Elsevier, vol. 27(5), pages 1253-1268, September.

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