Optimal income tax in a monetary economy
AbstractThis study examines the shape of an optimal income tax schedule in a monetary economy. In equilibrium, money’s role is to allocate resources across generations, while a tax-transfer scheme serves as a form of social insurance. It is found that the optimal real income tax with money can be progressive.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Minneapolis in its series Working Papers with number 244.
Date of creation: 1984
Date of revision:
Publication status: Published in Journal of Economic Dynamics and Control (Vol. 17, No. 3, May 1993, pp. 443-465)
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