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Tax Policy, the Macroeconomy, and Intergenerational Distribution

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  • Ben J. Heijdra

    (International Monetary Fund)

  • Jenny E. Ligthart

    (International Monetary Fund)

Abstract

The paper studies the dynamic macroeconomic and welfare effects of tax policy in the context of an overlapping-generations model of the Yaari-Blanchard type for a closed economy. The model is extended to allow for endogenous labor supply and three tax instrumentsónamely, a capital tax, labor income tax, and consumption tax. It is shown that labor taxes increase welfare of old generations whereas capital and consumption taxes reduce their welfare. Copyright 2002, International Monetary Fund

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Bibliographic Info

Article provided by Palgrave Macmillan in its journal IMF Staff Papers.

Volume (Year): 49 (2002)
Issue (Month): 1 ()
Pages: 6

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Handle: RePEc:pal:imfstp:v:49:y:2002:i:1:p:6

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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. Emin Gahramanov & Xueli Tang, 2013. "Solving for the Retirement Age in a Continuous-time Model with Endogenous Labor Supply," Economics Series 2013_5, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
  3. Kosempel, Stephen, 2004. "Finite lifetimes and government spending in an endogenous growth model," Journal of Economics and Business, Elsevier, vol. 56(3), pages 197-210.
  4. Mathieu-Bolh, Nathalie, 2010. "Welfare improving distributionally neutral tax reforms," Economic Modelling, Elsevier, vol. 27(5), pages 1253-1268, September.
  5. Fukuda, Kosei, 2008. "Empirical evidence on intergenerational inequality of tax burdens in the U.S. and Japan," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(6), pages 2214-2220, December.

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