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Fiscal policy when individuals differ with regard to altruism and labor supply

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  • MICHEL, Philippe
  • PESTIEAU, Pierre

Abstract

This paper studies the incidence of tax-transfer policy in a growth model wherein individuals differ according to their level of intergenerational altruism and have an endogenous labor supply. The main result is that public debt is neutral at the macro level but redistributes resources from nonaltruists to altruists. Capital income taxation can hurt the nonaltruists who do not have any wealth more than it hurts the altruists who own all of it. Whether or not the altruists supply a positive amount of labor makes a big difference as to the incidence of alternative tax transfer policies. Copyright 1999 by Blackwell Publishing Inc.

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File URL: http://dx.doi.org/10.1111/1097-3923.00008
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Bibliographic Info

Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers RP with number -1381.

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Handle: RePEc:cor:louvrp:-1381

Note: In : Journal of Public Economic Theory, 1(2), 187-203, 1999
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Cited by:
  1. Stefano Bosi & Thomas Seegmuller, 2008. "On the Role of Progressive Taxation in a Ramsey Model with Heterogeneous Households," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00331299, HAL.
  2. LAMBRECHT, Stéphane & MICHEL, Philippe & THIBAULT, Emmanuel, 2005. "Capital accumulation and fiscal policy in an OLG model with family altruism," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 2005027, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Stefano Bosi & Thomas Seegmuller, 2009. "On local indeterminacy and endogenous cycles in Ramsey models with heterogeneous households," Portuguese Economic Journal, Springer, Springer, vol. 8(1), pages 53-58, April.
  4. Stefano Bosi & Thomas Seegmuller, 2007. "On the Ramsey equilibrium with heterogeneous consumers and endogenous labor supply," Documents de travail du Centre d'Economie de la Sorbonne, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne v07003a, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne, revised Jul 2007.
  5. MICHEL, Philippe & PESTIEAU, Pierre, 2001. "Fiscal policy in a growth model with bequest-as-consumption," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 2001009, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).

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