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Les modèles à agent représentatif et la politique de taxation optimale

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  • Ambler, Steve

    (Centre de recherche sur l’emploi et les fluctuations économiques, Université du Québec à Montréal)

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    Abstract

    In this paper, we present a survey of the macroeconomics of optimal taxation. We begin by presenting a simple version of a representative agent model in order to illustrate the main result in the literature concerning the taxation of capital income: the tax rate on capital income should converge to zero in the long run. Second, we look at the robustness of this result by surveying recent articles which relax some of the simplifying assumptions of our simple model. Third, we criticize the representative agent literature based on the plausibility of its predictions and its relevance for the conduct of fiscal policy. Fourth, we look at some recent research which has overturned the result of no long-run taxation of capital income. Finally, we give some suggestions for fruitful avenues of research in the future. Dans cet article, nous présentons un survol de la littérature macroéconomique sur la taxation optimale. En premier lieu, nous présentons un modèle très simple à agent représentatif afin de démontrer le résultat principal de cette littérature concernant le taux de taxation sur le revenu du capital; celui-ci devrait converger vers zéro à long terme. Deuxièmement, nous examinons la robustesse de ce résultat en étudiant des articles qui relâchent certaines des hypothèses simplificatrices du modèle de base. Troisièmement, nous critiquons les modèles à agent représentatif sur les bases de la plausibilité de leurs prédictions et de leur pertinence pour la conduite de la politique fiscale. Quatrièmement, nous examinons quelques pistes suivies récemment par des chercheurs qui ont renversé le résultat du taux de taxation nul sur le revenu du capital. En guise de conclusion, nous présentons quelques suggestions pour des pistes à suivre à l’avenir.

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    Bibliographic Info

    Article provided by Société Canadienne de Science Economique in its journal L'Actualité économique.

    Volume (Year): 75 (1999)
    Issue (Month): 4 (décembre)
    Pages: 539-557

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    Handle: RePEc:ris:actuec:v:75:y:1999:i:4:p:539-557

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    1. Chamley, Christophe, 1985. "Efficient Taxation in a Stylized Model of Intertemporal General Equilibrium," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 26(2), pages 451-68, June.
    2. Kenneth L. Judd, 1982. "Redistributive Taxation in a Simple Perfect Foresight Model," Discussion Papers 572, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    3. Erosa, Andres & Gervais, Martin, 2002. "Optimal Taxation in Life-Cycle Economies," Journal of Economic Theory, Elsevier, vol. 105(2), pages 338-369, August.
    4. Paul Klein & David Domeij, 1998. "Pre-announced optimal tax reform," Macroeconomics 9804002, EconWPA.
    5. Anton Braun, R., 1994. "Tax disturbances and real economic activity in the postwar United States," Journal of Monetary Economics, Elsevier, vol. 33(3), pages 441-462, June.
    6. Ambler, Steve & Paquet, Alain, 1997. "Recursive methods for computing equilibria of general equilibrium dynamic Stackelberg games," Economic Modelling, Elsevier, vol. 14(2), pages 155-173, April.
    7. Chari, V.V. & Kehoe, Patrick J., 1999. "Optimal fiscal and monetary policy," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 26, pages 1671-1745 Elsevier.
    8. V. V. Chari & Lawrence J. Christiano & Patrick J. Kehoe, 1993. "Optimal Fiscal Policy in a Business Cycle Model," NBER Working Papers 4490, National Bureau of Economic Research, Inc.
    9. William Scarth, 1999. "Alternatives for Raising Living Standards," Quantitative Studies in Economics and Population Research Reports 344, McMaster University.
    10. Krusell, Per & Quadrini, Vincenzo & Rios-Rull, Jose-Victor, 1996. "Are consumption taxes really better than income taxes?," Journal of Monetary Economics, Elsevier, vol. 37(3), pages 475-503, June.
    11. Steve Ambler & Alain Paquet, 1994. "Recursive Methods for Computing Equilibria of General Equilibrium Dynamic Stackelberg Games," Cahiers de recherche CREFE / CREFE Working Papers 25, CREFE, Université du Québec à Montréal.
    12. Kenneth L. Judd, 1984. "The Welfare Cost of Factor Taxation in a Perfect Foresight Model," Discussion Papers 643, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    13. Barro, Robert J., 1979. "On the Determination of the Public Debt," Scholarly Articles 3451400, Harvard University Department of Economics.
    14. William Scarth, 1999. "Alternatives for Raising Living Standards," Department of Economics Working Papers 1999-08, McMaster University.
    15. Joel Slemrod, 1989. "Optimal Taxation and Optimal Tax Systems," NBER Working Papers 3038, National Bureau of Economic Research, Inc.
    16. Benhabib, Jess & Velasco, Andres, 1996. "On the optimal and best sustainable taxes in an open economy," European Economic Review, Elsevier, vol. 40(1), pages 135-154, January.
    17. Larry E. Jones & Rodolfo E. Manuelli & Peter E. Rossi, 1993. "On the Optimal Taxation of Capital Income," NBER Working Papers 4525, National Bureau of Economic Research, Inc.
    18. Zhu, Xiaodong, 1992. "Optimal fiscal policy in a stochastic growth model," Journal of Economic Theory, Elsevier, vol. 58(2), pages 250-289, December.
    19. Jones, Larry E & Manuelli, Rodolfo E & Rossi, Peter E, 1993. "Optimal Taxation in Models of Endogenous Growth," Journal of Political Economy, University of Chicago Press, vol. 101(3), pages 485-517, June.
    20. Benhabib, Jess & Rustichini, Aldo, 1997. "Optimal Taxes without Commitment," Journal of Economic Theory, Elsevier, vol. 77(2), pages 231-259, December.
    21. Steve Ambler, 2000. "Optimal Time Consistent Fiscal Policy with Overlapping Generations," Cahiers de recherche CREFE / CREFE Working Papers 111, CREFE, Université du Québec à Montréal.
    22. Kevin J. Lansing, 1998. "Optimal Fiscal Policy in a Business Cycle Model with Public Capital," Canadian Journal of Economics, Canadian Economics Association, vol. 31(2), pages 337-364, May.
    23. Nicholas Bull, 1993. "When all the optimal dynamic taxes are zero," Working Paper Series / Economic Activity Section 137, Board of Governors of the Federal Reserve System (U.S.).
    24. William Scarth, 1999. "Alternatives for Raising Living Standards," Social and Economic Dimensions of an Aging Population Research Papers 5, McMaster University.
    25. Judd, Kenneth L., 1999. "Optimal taxation and spending in general competitive growth models," Journal of Public Economics, Elsevier, vol. 71(1), pages 1-26, January.
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    Cited by:
    1. Roman Arjona, . "Optimal Social Security Taxation in Spain," Studies on the Spanish Economy 80, FEDEA.

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