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Income Tax and Endogenous Business Cycles

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  • Atsuo Utaka

    () (Osaka University)

Abstract

This paper investigates the dynamic implication of balanced-budget rules. We introduce public goods to an overlapping generations model with production and assume that public goods in each period are financed by the labor income taxes. We show that in our model, if the cost of providing public goods is financed by lump-sum taxes, endogenous fluctuations would never occur. But in cases where the government adopts proportional taxes, periodic and chaotic equilibria can exist. Copyright 2003 Blackwell Publishing, Inc..

Suggested Citation

  • Atsuo Utaka, 2003. "Income Tax and Endogenous Business Cycles," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 5(1), pages 135-145, January.
  • Handle: RePEc:bla:jpbect:v:5:y:2003:i:1:p:135-145
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    Cited by:

    1. Teresa Lloyd-Braga & Leonor Modesto & Thomas Seegmuller, 2008. "Tax Rate Variability and Public Spending as Sources of Indeterminacy," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 10(3), pages 399-421, June.
    2. Fujio Takata, 2013. "Multiple Steady States under the Balanced Budget Rule- a Generalization," Discussion Papers 1310, Graduate School of Economics, Kobe University.
    3. Fujio Takata, 2009. "Endogenous Business Cycles: The Influence Of Character Traits ," Australian Economic Papers, Wiley Blackwell, vol. 48(1), pages 80-102, March.
    4. repec:hal:journl:halshs-00194395 is not listed on IDEAS

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